Colt Resources Inc. (COLTF)

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Colt Resources Inc. (TSXV: GTP) intersected high-grade gold within the Banhos Deposit at its wholly owned Boa Fe gold project in southern Protugal. The best drilling results showed 8.39 grams per ton gold over 6.88 meters as well as 33.2 g/t gold over 1.7 meters, the company says. "The drilling program at Banhos has significantly increased our confidence and understanding of this zone that was only partially tested before Colt's involvement and despite our extensive drilling campaign the deposit remains open down dip and along strike,” says Nikolas Perreault, president and chief executive officer of Colt. “The deposits 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.” Colt Resources Inc. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on gold and tungsten.