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

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.