Colt Resources Inc. (TSXV:GTP,OTCQX:COLTF) announced an initial resource estimate for its 100% owned Tabuaço (São Pedro das Águias) tungsten project.

As quoted in the press release:

Resource Estimate Highlights
Indicated resources total 760,000 tonnes with an average grade of 0.58% WO₃.
Inferred resources total 1,330,000 tonnes with an average grade of 0.57% WO₃.
The mineralization, hosted in shallowly dipping skarn units, remains open for expansion in several directions. Four drills are operating at the project at present to expand current resources and identify new mineralized areas.

Colt’s President and CEO, Nikolas Perrault said:

We are very encouraged by this initial estimate that has been focused on a portion of a larger zone of mineralization that remains open. The high grade nature of the mineralization confirms Tabuaço to be one of the highest grade, undeveloped tungsten deposits in Europe. We have an outstanding team on site and we fully intend to build upon this robust foundation in the months ahead.

Click here to read the Colt Resources Inc. (TSXV:GTP) press release.