Colt Resources A0RM93 V.GTP

The rock mechanics conditions of the entire sequence intersected by these holes (both the mineralized zones and the hangingwall rocks) are very good and appear to be superior to those encountered elsewhere on the project.
The three initial holes of this latest program are located within 100m of DHT-88 and strongly suggest the presence of a previously undetected zone of mineralization unrelated to either the São Pedro das Águias or Aveleira deposits.
Table 1

Main WO3 mineralized intervals of hole DHT-88 (assays previously reported) and assay results from Holes DHT-113, DHT-114 and DHT-115

Hole Hole
Inclination Hole
Azimuth From
(m) To
(m) Drilled
Length (m) True
Thickness
(m) Grade
% WO3
DHT-88 -90 000 100.80 104.80 4.00 3.94 0.45
116.60 122.60 6.00 5.91 0.58
DHT-113 -60 315 97.5 108.5 11.00 9.38 0.34
114.5 118.5 4.00 3.41 0.36
123.57 138.52 14.95 12.75 0.72
144.54 151.54 7.00 5.97 0.49
DHT-114 -73 315 84.45 88.80 4.35 4.10 Pending
89.25 91.22 1.97 1.86
105.87 116.77 10.90 10.27
121.38 121.98 0.60 0.57
123.93 124.30 0.37 0.35
125.82 133.16 7.34 6.91
DHT-115 -45 315 113.40 133.00 19.60 13.65 0.49
139.60 140.85 1.25 0.87 0.35
148.75 168.65 19.90 13.86 0.28
178.85 182.65 3.80 2.65 0.54
Interpretation and Follow-up
Holes DHT-114, DHT-113 and DHT-115 (from SE to NW) appear to have intersected mineralized skarns similar to that intersected by DHT-88 over a total strike length of greater than 100 meters, located approximately 300m NW of the São Pedro das Águias resource area, and approximately 300m south of the Aveleira resource area (Figures 1 and 2).
This mineralization is interpreted to represent a previously unrecognized deposit at Tabuaço, physically separated from either São Pedro das Águias or Aveleira deposits. It is suspected that the separation between these three deposits could be the result of a combination of Variscan folding with late faulting, but this remains to be confirmed.
It is hypothesized that the new deposit may extend further along strike to the NW, as well as down-dip to the SW underneath the granite body. The program is continuing and a series of follow-up drill holes are being drilled close by so as to develop a better understanding of the 3D geometry of this new zone.
"We are very pleased with these results from Tabuaço and look forward to updating our shareholders in the very near future with further developments on this ongoing resource expansion program which is off to an excellent start", stated Nikolas Perrault, Colt President and CEO
Quality Assurance / Quality Control (QA/QC)
All drill core is transported by Company personnel from drill site to a nearby secure storage facility for logging and sampling.
Sampling intervals for gold mineralization are defined after core logging and determination of probable high grade zones based on visible mineralisation and favourable structure, while the sampling intervals for the tungsten mineralization are defined after core logging and determination of scheelite content by examination under short‐wave UV‐light.
One half of the core is sent for analysis, while the other half is retained in the core boxes for future reference.
All samples are sent by courier to ALS Chemex's facility in Seville, Spain, where they undergo sample preparation.
Gold analysis for all samples is done via method "Au - AA24" (Au by fire assay and AAS, 50g nominal sample weight). The detection limit for this method is 5 ppb. For every sample with Au values over 1 ppm, the pulp is re-analyzed by method "Au - GRA22" (Au by fire assay and gravimetric finish, 50g nominal sample weight). The detection range for this method is 0.05-1000 ppm.
Tungsten and tin are analyzed using a metaborate fusion followed by XRF. Assay results for tungsten are reported by the laboratory as W%. WO3 values are calculated using a conversion factor of 1.2611.
A set of standards and blanks has been inserted by Colt into the drill sample stream on a regular basis in addition to the laboratory's own internal QA/QC standards and duplicates. QA/QC results to date are well within the accepted norm.
About Colt Resources Inc.
Colt Resources Inc. (www.coltresources.com) is a Canadian mining exploration and development company engaged in acquiring, exploring, and developing mineral properties with an emphasis on gold and tungsten. It is currently focused on advanced stage exploration projects in Portugal and securing advanced stage mining projects.
SRK (ES) Managing Director - Gareth O'Donovan CEng MSc BA (Hons) FIMMM FGS, is an independent Qualified Person, as defined in NI 43‐101, for Colt's projects in Portugal. Mr. O'Donovan has reviewed the content of this press release, and consents to the information provided and the form and context in which it appears.
The Company's shares trade on the TSX‐V, symbol: GTP; the Frankfurt Stock Exchange, symbol: P01; and, the OTCQX, symbol: COLTF.

PDF available at: stream1.newswire.ca/media/2014/08…OC_EN_42321.pdf
SOURCE: Colt Resources Inc.
For further information:
Nikolas Perrault, CFA
President & CEO
Colt Resources Inc.
Tel: +351-219-119810
nperrault@coltresources.com

Declan Costelloe, CEng
Executive Vice President & COO
Colt Resources Inc.
Tel: +351-219-119810
dcostelloe@coltresources.com
This information is being distributed to you by / Cette information vous est transmise par : Colt Resources Inc.
606 Cathcart Street, Suite 330 Montréal, Québec (Canada) H3B 1K9
www.coltresources.com
If you wish to stop receiving these types of messages from us, you can unsubscribe at any time. / Si vous ne souhaitez plus recevoir ce type de messages de notre part, vous pouvez vous désabonner à tout moment

Finally, both projects are late-stage development projects that are nearly next-door to excellent roads, rail, shipping, workers and so on.
 
I don't know what it will take to get Colt shares going again, but when they do, I will be rich. One thing that might have shaken out longtime stockholders is Colt's growing interest in Pakistan and possibly Afghanistan. I understand why Europe-centric metals investors might bail on those countries.    
I am in for Portugal.
 
 
Maybe it is time for Mr. Perrault, a Portugal-based Quebecois with links to real estate ventures in the former Portuguese colony of Cape Verde, to hand over leadership of the company to a mine builder. Very little back from Nikolas on that topic except for a simple "mais oui."
 
But of course.
 

Here are the gap assays from those three fresh holes and from one previously reported:
 
 

Hole Hole
Inclination Hole
Azimuth From
(m) To
(m) Drilled
Length (m)  True
Thickness
(m) Grade
% WO3
DHT-88 -90 000 100.80 104.80 4.00 3.94 0.45
116.60 122.60 6.00 5.91 0.58
DHT-113  -60 315 97.5 108.5 11.00 9.38 0.34
114.5 118.5 4.00 3.41 0.36
123.57 138.52 14.95 12.75 0.72
144.54 151.54 7.00 5.97 0.49
DHT-114  -73 315 84.45 88.80 4.35 4.10 Pending
89.25 91.22 1.97 1.86
105.87 116.77 10.90 10.27
121.38 121.98 0.60 0.57
123.93 124.30 0.37 0.35
125.82 133.16 7.34 6.91
DHT-115  -45 315 113.40 133.00 19.60 13.65 0.49
139.60 140.85 1.25 0.87 0.35
148.75 168.65 19.90 13.86 0.28
178.85 182.65 3.80 2.65 0.54

Read more at www.stockhouse.com/opinion/...-as-antimony#8WXOD5mmMWJ23M5d.99

After completion of the private placement, Spektra Canada owns 16,750,000 common shares of Colt, representing approximately 9.7% of the issued and outstanding common shares of Colt (before the exercise of the Warrants). Assuming the exercise of all of the Warrants, Spektra Canada will own a total of 27,250,000 Common Shares of Colt, representing approximately 15% of the issued and outstanding common shares of Colt. Spektra Canada is a wholly owned subsidiary of Spektra Jeotek A.S. ("Spektra Jeotek"), a Turkish company. Spektra Jeotek is controlled by Mr. Levent Okay. Neither Spektra Jeotek nor Mr. Levent Okay own any common shares of Colt, nor do they exercise control or direction over any common shares of Colt other than those owned by Spektra Canada. The Units were acquired by Spektra Canada for investment purposes. Spektra Canada may from time to time acquire additional Units or other securities of Colt, dispose of some or all of the existing or additional common shares or other securities of Colt, or continue to hold same in the normal course of its investment activities.
In connection with the purchase of Units by Spektra, a letter agreement (the "Letter Agreement") was entered into between Spektra's parent company, Spektra Jeotik A.S., ("Spektra Jeotek") and Colt on August 5, 2014. The letter agreement provides that Colt will, out of the proceeds for the Units, pay to Spektra Jeotek for past drilling services and for future drilling services pursuant to a drilling contract between Colt and Spektra Jeotek. Additionally, Colt has agreed to appoint a nominee of Spektra to the board of directors of Colt, subject to regulatory approval.
Also in connection with the purchase of Units by Spektra, a voting trust agreement (the "Voting Trust Agreement") was entered into between Colt, Spektra and a voting trustee. Pursuant to the Voting Trust Agreement, the voting trustee has been granted the authority to vote the common shares of Colt owned by Spektra, subject to certain exceptions. The Voting Trust Agreement shall terminate upon Spektra Canada owning 5% or less of the issued and outstanding Common Shares of Colt.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of securities in the United States. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
About Colt Resources Inc.
Colt Resources Inc. (www.coltresources.com) is a Canadian mining exploration and development company engaged in acquiring, exploring, and developing mineral properties with an emphasis on gold and tungsten. It is currently focused on advanced stage exploration projects in Portugal, where it is one of the largest lease holders of mineral concessions.
The Company's shares trade on the TSX‐V, symbol: GTP; the Frankfurt Stock Exchange, symbol: P01; and, the OTCQX, symbol: COLTF.
FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Colt Resources Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Company's annual information form available on SEDAR at www.sedar.com and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
SOURCE: Colt Resources Inc.
For further information:
Nikolas Perrault, CFA
President & CEO
Colt Resources Inc.
Tel: +351-219-119810
Fax: +1 (514) 635-6100
nperrault@coltresources.com
Shahab Jaffrey
Chief Financial Officer
Colt Resources Inc.
Tel: +1-514-843-7178
Fax: +1-514-843-7704
sjaffrey@coltresources.com