Colt Resources Inc. (TSXV:GTP,OTCQX:COLTF) reported positive intercepts from two of the first three holes recently drilled in the Gap Zone at its Tabuaço Tungsten Project in northern Portugal. Initial visual inspection indicates that the mineralized skarns intersected by all three holes, compare very well, in terms of mineralogy and texture, with hole DHT-88, which intersected rich tungsten mineralization separate from the São Pedro das Águias and Aveleira deposits.

As quoted in the press release:

The initial three holes of this latest phase of drilling, DHT-113, DHT-114 and DHT-115 (Figure 2), have focused on testing the ground close to an isolated hole completed in December 2012, DHT-88, which intersected rich tungsten mineralization separate from the São Pedro das Águias and Aveleira deposits (see press release of January 30th, 2013). This isolated hole was not included with those used to estimate resources that formed the basis for the Preliminary Economic Assessment published in Q3, 2013 (See press release of September 4th, 2013).

Initial visual inspection of the mineralized skarns intersected by all three holes, both under natural light and short-wave UV-light indicated that in general they compared very well, both in terms of mineralogy and texture, with hole DHT-88. Given the very promising visual results, sampling and assaying of the mineralized drill core of holes DHT-113 and DHT-115 was fast-tracked and assay results are presented on Table 1. The results for DHT-114 are pending.

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