Colt Finds ‘Impressive’ Gold Grades at Portugal Mine Concession

Colt Resources Inc. (GTP), an explorer of gold in Portugal, found “impressive” mineral grades at Boa Fe in the south of the country, it said in a website statement.

Colt signed a three-year exploration deal with the government in November to look for gold at Boa Fe, near the town of Montemor, and plans to start production in early 2014, Chief Executive Officer Nikolas Perrault said in April.

“Drilling at Boa Fe continues to deliver impressive gold grades close to surface,” the Montreal-based company said in the statement.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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