Colt Resources Inc., an explorer of gold in Portugal, found gold mineralization in deposits across a 30-kilometer (19 mile) stretch of land in the country’s south.
The company, based in Montreal, signed a three-year exploration deal with the government in November to look for gold in the Boa Fe zone near the town of Montemor.
“We continue to be impressed by the results from this well mineralized shear zone,” Colt said today in a statement on its website. “The company will continue its aggressive advanced stage exploration campaign at Boa Fe.”
Colt plans to bring the Montemor mine into production early 2014, Chief Executive Officer Nikolas Perrault said on April 23.