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Colt Resources Fires Higher After Expanding Tabuaco Exploration Program in Portugal

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Colt Resources Inc. (GTP.V) is ahead more than 4% today, climbing $0.03 to $0.68 a share after analytical results for a fifth drill hole at Tabuaço project in northern Portugal intersected 1.29% tungsten trioxide (WO3) over 7.84 meters, including 1.90% WO3 over 3.76 meters.

Colt management said that the results exceeded expectations, with the company now planning to accelerate its exploration program by adding a third rig. The drilling program is intended to confirm and expand historical non-NI 43-101 complaint resource estimate of 1 million tons grading 0.87% WO3.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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