Colt Resources intersects up to 0.91% tungsten trioxide at Tabuaco project in Portugal

Colt Resources Inc (CVE:GTP) announced Thursday it intersected several strong mineralizations, including 0.91% tungsten trioxide, at the Tabuaco project in the company's wholly owned Armamar-Meda concession in northern Portugal.
The results from three new drill holes, which are from the ongoing drill campaign on the property, were intended to test the internal grade and structural consistency of the deposit.
The program at the site is confirming and expanding the historical, non-compliant resource estimate, originally from a joint venture in the 1980s, of one million tonnes grading 0.87% tungsten trioxide.
Assays from hole DHT-16, which was drilled to a vertical depth of 126.4 metres, returned 155 metres grading 0.31% tungsten trioxide, and 5.6 metres grading 0.57% tungsten trioxide.
The assays returned one metre grading 0.91% tungsten trioxide from hole DHT-17A, which was drilled to a depth of 165.1 metres.
Other notable results include 14.2 metres grading 0.89% tungsten trioxide, including 7.15 metres grading 1.42% tungsten trioxide, from the 180.3-metre-deep hole, DHT-15.
"Hole 15 has demonstrated to us that the deposit model is robust and that the predicted grades and thicknesses are being achieved," said president and CEO, Nikolas Perrault.
The junior explorer said these results indicate that the mineralization is open in all directions, and that the resource grades increase as the drill holes move further from the historical resource zone.
A fourth drill rig has commenced drilling on the deposit to increase data flow, as Colt continues to prepare an initial resource estimate.
Based in Vancouver, B.C., Colt's stock on the TSX-Venture was in line with the faltering metals and mining sector today, slipping 1.67% to trade at $0.59 per share as of 2:23 pm EDT.