Colt Resources Inc. begins exploration including diamond drilling on potential open pit gold targets in Portugal



    
    Trading Symbols: GTP - (CNSX)
    P01 - (FRANKFURT)
    

    MONTREAL, Aug. 6 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the
"Company") is pleased to announce that a detailed program of exploration has
been initiated on the Penedono Concession located in Northern Portugal.
    The Penedono Concession currently consists of 51.198 km2 but as of
October 2009 will be expanded to encompass 102.471 km2 for an additional 3
years.
    This concession has been the focus of earlier exploration by Colt in 2007
and 2008. The earlier work identified a NE-SW trending system of high grade
veins (named the Santo Antonio veins 1-13), extending to depths in excess of
100m and with mapped strike lengths ranging from 150m to in excess of 500m.
    While investigating veins 1-13, a number of areas were identified
containing vein swarms consisting of narrow veins and veinlets in close
proximity and lying at approximately 30o-45o to the main veins. These areas
are considered to have open pit potential and will be the focus of the current
exploration program. The following table represents values from veins in the
Santo Antonio area.
    
    -------------------------------------------------------------------------
    sample  UTM     UTM      Type  Occurrence  Description            Au g/t
    No.     East    North
    -------------------------------------------------------------------------
    196928  632907  4541724  chip  outcrop     quartz with aspy         5.56
                                               (mineralized quartz
                                               vein)
    -------------------------------------------------------------------------
    205085  633869  4541776  chip  outcrop     quartz+aspy and         27.04
                                               greisen vein
    -------------------------------------------------------------------------
    205086  633877  4541774  chip  outcrop     quartz+aspy and         18.56
                                               greisen vein
    -------------------------------------------------------------------------
    205087  633877  4541774  chip  outcrop     quartz+aspy and         19.68
                                               greisen vein
    -------------------------------------------------------------------------
    205088  633899  4541797  chip  outcrop     greisen with aspy       34.40
    -------------------------------------------------------------------------
    205089  633869  4541776  chip  outcrop     quartz and greisen      26.08
                                               vein with aspy
                                               (10cm)
    -------------------------------------------------------------------------
    205090  633890  4541781  chip  outcrop     quartz and greisen      11.00
                                               veins with aspy
    -------------------------------------------------------------------------
    205091  633914  4541773  chip  outcrop     aspy+quartz veins,      15.68
                                               1-2cm thick
    -------------------------------------------------------------------------
    205092  633925  4541764  chip  outcrop     aspy+quartz (20cm)       8.40
    -------------------------------------------------------------------------
    
    In addition to the vein swarms associated with the Santo Antonio veins,
another area - named Marofa - Castainco, was identified as having the
potential for open pit targets due to its concentration of narrow high grade
gold bearing veins. The Marofa - Castainco area lies approximately 1 km to the
west from the Santo Antonio veins. This area hosts at least 6 known vein swarm
targets represented by the following analytical results. The Marofa -
Castainco area has proven to contain tungsten values that will be further
assessed during the current exploration program.
    
    -------------------------------------------------------------------------
                 Marofa-Castainço Rock Samples
                ------------------------------
    -------------------------------------------------------------------------
    Tag     UTM     UTM      Type  Occu-   Description       Au     W      W
    No.     East    North          rrence                   g/t   ppm    ppm
    -------------------------------------------------------------------------
                                                                  ICP   Mass
                                                                       Spect
    -------------------------------------------------------------------------
    134465  632309  4541766  grab  float   qz w aspy &     0.84     6
                                           greisen
    -------------------------------------------------------------------------
    134466  632291  4541747  grab  float   qz rich in      0.94     8
                                           aspy, in old
                                           diggings
    -------------------------------------------------------------------------
    134467  632334  4541790  grab  float   qz w aspy      13.44 (less
                                           (& greisen),          than)
                                           between 2 old            5
                                           diggings
    -------------------------------------------------------------------------
    134468  632349  4541796  grab  float   3-5cm qz vein  96.00    55
                                           w aspy
    -------------------------------------------------------------------------
    134469  632349  4541796  grab  float   greisen         3.32     8
                                           (w aspy)
    -------------------------------------------------------------------------
    134470  632425  4542118  grab  float   greisen         0.94 (less
                                           (w aspy)              than)
                                                                    5
    -------------------------------------------------------------------------
    134471  632405  4542088  grab  float   greisen         2.84   413    455
                                           (w aspy)
    -------------------------------------------------------------------------
    134472  632343  4542033  grab  float   qz w aspy &    24.16    24     24
                                           greisen
    -------------------------------------------------------------------------
    134473  632405  4542088  grab  float   qz w aspy      13.44   673    887
    -------------------------------------------------------------------------
    134474  632391  4542043  chip  out-    thin qz(-fsp)  29.44   543   2229
                                   crop    vein w aspy,
                                           in wall of
                                           old diggings
    -------------------------------------------------------------------------
    134475  632391  4542043  grab  float   qz w aspy      14.08   656   1269
                                           (& py), in
                                           old diggings
    -------------------------------------------------------------------------
    134476  632431  4542062  grab  float   qz w aspy       6.72    67     67
    -------------------------------------------------------------------------
    134477  632425  4542118  grab  float   qz w aspy      18.72    19     19
    -------------------------------------------------------------------------
    134478  632431  4542062  grab  float   greisen         1.79 (less  (less
                                           w aspy & qz           than)  than)
                                                                    5      5
    -------------------------------------------------------------------------
    134479  632397  4542058  grab  float   qz w aspy       9.36   402    403
    -------------------------------------------------------------------------
    134480  631373  4539676  grab  float   granite/       25.28    23
                                           greisen & qz
                                           w aspy & py,
                                           in large old
                                           diggings
    -------------------------------------------------------------------------
    134481  631442  4541047  grab  out-    greisen veins  13.60    13
                                   crop    w aspy
    -------------------------------------------------------------------------
    134482  631647  4540875  grab  out-    qz & granite/   2.92    32
                                   crop    greisen
                                           (coarse
                                           pegmatitic)
                                           w dissem py
                                           & aspy, in old
                                           diggings
    -------------------------------------------------------------------------
    134483  631488  4541205  grab  float   greisen w      10.24   608    948
                                           aspy, in
                                           quarry wall
    -------------------------------------------------------------------------
    134484  631872  4540922  grab  float   qz w aspy, in  13.60    50
                                           old diggings
    -------------------------------------------------------------------------
    134485  631872  4540922  grab  float   greisen w       5.64    48
                                           aspy, in old
                                           diggings
    -------------------------------------------------------------------------
    134486  631876  4540925  grab  float   qz w            0.15   242  18364
                                           wolframite,
                                           in old
                                           diggings
    -------------------------------------------------------------------------
    134487  632111  4541012  grab  out-    greisen &      12.00   259    355
                                   crop    thin qz veins
                                           w aspy, in
                                           old diggings
    -------------------------------------------------------------------------
    134488  632043  4540970  grab  float   qz vein w       9.16    85
                                           aspy, py, cpy;
                                           in old
                                           diggings
    -------------------------------------------------------------------------
    134489  632551  4541561  grab  float   qz w aspy &     0.86   350    444
                                           cpy, in old
                                           diggings
    -------------------------------------------------------------------------
    134490  631950  4541050  chip  out-    greisen w qz    4.56    61
                                   crop    & aspy
    -------------------------------------------------------------------------
    134491  632540  4541484  chip  out-    qz & greisen    3.48     7
                                   crop    w aspy
                                           (thin vein)
    -------------------------------------------------------------------------
    134492  632552  4541638  chip  out-    qz w aspy,     43.52   429    599
                                   crop    vein
                                           (greater than)
                                           20cm, in quarry
                                           for aggregate
    -------------------------------------------------------------------------
    134493  631900  4540986  chip  out-    qz w aspy      10.76     6      6
                                   crop    (& wolf), in
                                           old diggings
    -------------------------------------------------------------------------
    134494  631958  4541020  chip  out-    greisen w qz   10.36   485    632
                                   crop    & aspy
    -------------------------------------------------------------------------
    134495  631591  4540912  grab  float   greisen & qz    4.52   454    536
                                           w aspy
    -------------------------------------------------------------------------
    
    An exploration program consisting of detailed sampling, mapping,
trenching and diamond drilling has begun.
    The technical portion of this news release has been prepared and approve
by J.W. Murton P. Eng., a qualified person as defined by National Instrument
43-101. Mr J.W. Murton is a director of Colt.
    
    The CNSX has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this news release.
    




For further information:

For further information: Nikolas Perrault, CFA, President, Director &
CEO, Colt Resources Inc., (514) 501-2985, (514) 394-0009, Fax: (514) 394-0888,
info@coltresources.com; Aurelio Useche, CMA, MBA, Director & CFO, Colt
Resources Inc., (514) 824-8559, auseche@coltresources.com; You can also visit
us at www.coltresources.com

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