Colt Resources reports results of 36 drillholes at its Boa Fé Gold - Kitco

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Banhos Deposit* (continued) Hole Inclination and Hole_ID Azimuth From (m) To (m) Grade g/t Au Interval (m)* BFBH-12-021 Inclined: -45 o to 225 122.80 126.75 1.62 3.95 BFBH-12-022 Inclined: -45 o to 225 139.20 141.20 3.00 2.00 BFBH-12-023 Inclined: -45 o to 225 3.00 5.00 5.45 2.00 BFBH-12-024 Inclined: -45 o to 225 111.95 115.70 3.24 3.75 BFBH-12-024 Inclined: -45 o to 225 123.00 137.08 1.25 14.08 BFBH-12-025 Inclined: -45 o to 225 134.38 135.58 2.50 1.20 BFBH-12-026 Inclined: -45 o to 225 82.00 83.16 2.48 1.16 BFBH-12-027 Inclined: -45 o to 225 5.00 25.80 1.33 20.80 BFBH-12-028 Inclined: -45 o to 225 6.50 8.70 0.65 2.20 BFBH-12-031 Inclined: -45 o to 225 65.40 80.50 1.05 15.10 BFBH-12-032 Inclined: -45 o to 225 66.85 68.40 0.36 1.55 BFBH-12-033 Inclined: -45 o to 225 120.00 125.30 4.39 5.30 BFBH-12-034 Inclined: -45 o to 225 13.50 19.10 0.49 5.60 BFBH-12-035 Inclined: -45 o to 225 34.50 50.50 0.76 16.00 BFBH-12-036 Inclined: -45 o to 225 58.00 64.90 0.45 6.90 BFBH-12-042 Inclined: -45 o to 225 17.00 24.50 0.49 7.50 BFBH-12-045 Inclined: -45 o to 225 59.00 66.40 0.63 7.40 Chaminé Deposit* Hole_ID Hole Inclination and Azimuth From (m) To (m) Grade g/t Au Interval (m)* BFCH-12-032 Vertical 8.63 16.55 1.35 7.92 BFCH-12-032 Vertical 54.50 59.63 3.52 5.13 BFCH-12-033 Vertical 46.61 52.05 4.84 5.44 BFCH-12-035 Vertical 11.05 16.50 4.72 5.45 BFCH-12-036 Vertical 0.00 15.16 2.78 15.16 Casas Novas Deposit* Hole Inclination and Hole_ID Azimuth From (m) To (m) Grade g/t Au Interval (m)* BFCN-12-025 Vertical 28.00 30.90 0.50 2.90 BFCN-12-026 Vertical 93.35 102.17 1.97 8.82 BFCN-12-026 Vertical 106.90 118.15 1.60 11.25 * True Width has not been determined at this time.
Nikolas Perrault, President and CEO of Colt, stated, “The drilling program at Banhos has been designed to increase our confidence and understanding of this near surface deposit located just 4km from Casas Novas and 5 km from Chaminé. The results from these and other targets currently being drill tested will form the basis of our next NI 43-101 compliant mineral resource estimate scheduled to be prepared during Q1, 2013. These results have clarified our understanding of the mechanisms controlling the gold mineralization in this major gold bearing shear zone and are helping to optimize our exploration efforts designed to identify additional mineralized zones both in the Boa Fé EML concession and importantly in the much larger Montemor exploration concession where we have identified nearly 100km of mineralized belts which remain virtually untested by drilling.” Program Strategy Gold mineralization has been identified in several deposits along a shear zone that extends over some 30 kilometres along strike (Figure 1). Previous shallow drilling at the Chaminé, Casas Novas and Banhos deposits (Figures 2 and 3) was focussed on the highest grading portions of gold anomalies that closely follow the regional shear. In all three deposits, the mineralisation style interpreted in the current model (Figure 4) is associated with shears at low-angle to the regional shear direction (S1, S2, T and R) developed due to contrasts in competency between granitic and silica–rich units and pelitic schist within the main regional shear zone. Where conjugate sets of shears occur (i.e. S1 and S2 with T) the best development of mineralisation occurs. Conjugate sets of mineralisation may occur anywhere within the regional shear zone and are not restricted by depth. Mineralisation appears to be associated with several aplite intrusions locally up to 20m thick. The aplite units are believed to broadly dip 40 o to the south-west, which is broadly analogous to the S1 direction modelled at Chaminé. There is also a subhorizontal component in the morphology of the aplite as well. The significant mineralisation appears to occur in kinks and localised fold hinges in the aplite corresponding to pressure shadows created in ductile schist in the lee of the more competent aplite. At Banhos, an aggressive 50m x 50m based drill program was commenced in August, 2012. The program, consisting of both vertical and inclined holes, has been drilled to develop a better understanding of several shallow structures known historically to host gold mineralization. Unlike Chaminé and Casas Novas, historical drilling at Banhos was primarily confined to the upper 30m with only 25 irregularly spaced drillholes drilled deeper to an average depth of 100m. Colt’s results to date indicate that (similar to Casas Novas and Chaminé), mineralization appears to be associated with several shallow dipping aplite and mafic intrusive units within the broader shear corridor. Drilling is ongoing.
Page 1: NEWS RELEASE November 20 th , 2012
Page 5 and 6: About Colt Resources Inc. Colt Reso
Page 7 and 8: Figure 2 Chaminé and Casas Novas D
Page 9: Figure 4 Section Chaminé 6525N

Colt Resources reports results of 36 drillholes at its Boa Fé Gold - Kitco

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