QualityStocks News - Colt Resources (COLTF) Leverages Ties with Portuguese Government to Advance Boa Fe Gold Project

QualityStocks would like to highlight Colt Resources Inc. (COLTF). The company has assembled and is developing one of the most significant gold and tungsten lease portfolios in Portugal, a stable European country with excellent infrastructure and experienced labor force, high mineral potential, and a mining history dating back 2,000 years. Within three short years, Colt has not only become one of the largest holders of mining and exploration rights in Portugal, a country well-known for its rapidly growing resource market, but has also established a strategic presence in the Middle East as well.

In the company’s news,

Colt Resources is making waves in Portugal. Roughly 40 gold prospects and deposits have been identified in the greater region of Montemor-o-Novo, Portugal, a small municipality of great interest to Colt Resources as it explores opportunities to continue development of its portfolio of gold and tungsten leases in Portugal.

Within three short years, Colt has emerged as one of the largest holders of mining and exploration rights in Portugal and has amassed one of the most significant gold and tungsten lease portfolios in the mineral-rich European country.

The company’s portfolio currently consists of three experimental mining licenses, four exploration concessions, and two active joint ventures in Portugal, as well as a 38 percent stake in Colt Resources Middle East mining projects.

The Boa Fé Gold project, one of Colt’s two advanced-stage projects, is slated for production in the next 18 months. Efforts to further develop this project is supported by the company’s close working relationship with the Portuguese Government, which has implemented favorable mining laws that encourage mineral exploration and mine development.

While several international companies are conducting exploration on base and precious metals, Portugal is largely overlooked and underexplored. As such, the Portuguese government’s geology and mining agencies actively advocate projects that exploit the country’s mineral resources.

Colt’s strategy is to leverage these initiatives and continue to test deep gold mineralization potential close to planned mining operations. Moving through 2014, the company plans to conduct environmental impact studies to optimize the mining and processing facilities and minimize their environmental impact, advancing the project to construction during 2014 and full production by 2015.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.