Colt Resources Inc. (GTP), an explorer of gold in Portugal, found “impressive” mineral grades at Boa Fe in the south of the country, it said in a website statement.
Colt signed a three-year exploration deal with the government in November to look for gold at Boa Fe, near the town of Montemor, and plans to start production in early 2014, Chief Executive Officer Nikolas Perrault said in April.
“Drilling at Boa Fe continues to deliver impressive gold grades close to surface,” the Montreal-based company said in the statement.
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