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Transcript of Objective Capital Rare Earth and Minor Metals Investment Summit: Challenges of developing a new...
RARE EARTHS, SPECIALITY & MINOR METALS INVESTMENT SUMMIT
THE LONDON CHAMBER OF COMMERCE AND INDUSTRY ● THURSDAY, 18 MARCH 2010www.ObjectiveCapitalConferences.com
Investment Conferences
3.45 – 4.10 Challenges of developing a new European tungsten projectNikolas Perrault – CEO, Colt Resources
Gold, Tungsten, and Base Metal Projects in Portugal
FORWARD LOOKING STATEMENTS
Except for historic information, the matters discussed in this presentation contain forward-looking statements. These statements involve known and unknown risks, delays, uncertainties and other factors not under the Corporation’s control that may cause actual results, levels of activity, performance or achievements to be materially different from the results, levels of activity, performance, achievements or expectations expressed or implied by these forward-looking statements.
A Canadian junior exploration companyWith experienced dynamic management
Determined to become a producer within 24 months
WHO WE ARE…
with AN EXPERIENCED MANAGEMENT TEAMDirectors and Officers
Nikolas Perrault, CFA, President and CEOMario Justino, M.Sc., P. Geo., Vice-President ExplorationAurelio Useche, CMA, Director & Chief Financial OfficerDavid Johnson, B.A.(Hons.),LL.B. Attorney, Director J. Wayne Murton, P.Eng., DirectorJames Ladner, Director
Exploration TeamMario Justino, M.Sc., P. Geo., Vice-President ExplorationJ. Wayne Murton, P.Eng., Geologist and Mining ConsultantFilipe Faria, Geologist and Principal Consultant in PortugalJorge Valente, P.Eng., CEO, Eurocolt Resources Ltda.:
(the wholly owned subsidiary of COLT in Portugal)
Advisory BoardJean Depatie, Montréal, QuébecDeclan Costelloe, Lakewood, Colorado,Kevin Ernst, New York, New YorkJohn D. Redfern, Montréal, Québec
FINANCIAL PERSPECTIVES Shares Outstanding: 28.9 million
Shares fully diluted: 50.5 million
Market capitalization: $8.7 million
Average exercise price
of warrants and options: $0.26 per share
Significant management ownership andStrong shareholder base As of February 12 , 2010
Listed on the Canadian National Stock Exchange under GTP
Listed on Frankfurt and Berlin Exchanges under the Symbol P01
Portugal is a stable and mining friendly country of the EuropeanUnion, with exceptional geological potential that remains largelyunder-explored.
EUPortugal
Town of Penedono: Northern Portugal
Exploration Properties in Portugal
Location of Properties
Penedono Gold
Armamar - Meda Tungsten - Gold
Moimenta -Almendra
Gold –Tungsten -Tin
Santa Margarida do Sado
Massive Sulphides (VMS):Cu Pb Zn (Ag, Au)
Concession Name Principal commodity
Northern Portugal
Central Western Area
Properties in Portugal: total land package
Property description
Concession Name Principal commodity Area
Penedono Gold 102 km2
Armamar - Meda Tungsten - Gold 436 km2
Moimenta - Almendra Gold –Tungsten - Tin 566 km2
Santa Margarida do Sado
Massive Sulphides :Cu Pb Zn (Ag, Au) 360 km2
Total: ~ 1,464 km2
Colt has assembled a significant land package and is currently the second largest holder of mineral exploration rights in Portugal.
Tabuaço Tungsten Project
Penedono Gold Project
Penedono
Concession
Penedono Gold Concession: Location Map
Mineralization comprised of widespread clustersof gold-bearing vein systems, locally containingtungsten mineralization.
Veins occur as clusters within a broad west-northwest trending 16 km long belt.
Veins consist of: Steeply dipping quartz-sulphide veins (e.g.
Santo Antonio area) Quartz-sulphide “greisen” veinlets and zones Sheeted veins and stockwork
Potential for deposits of: Underground high-grade gold veins Open pit lower grade gold zones
Numerous untested, large gold-in-soil anomalies
Excellent infrastructure, road access throughoutthe concession, with a supportive local population
Index
Penedono
Penedono Gold Concession: Overview
Penedono:
Extent of gold-bearing vein sets over NW
zone
16 km long
Santo Antonio Gold Mine(closed)
Penedono Concession
outline
Vein sets
(Modified after W. Gruenwald, 2008)
Penedono Concession Sept. 2009
(after 50% reduction 2008)
Explored and exploited for gold since theRoman times.
In the mid-1950’s, the Santo Antonio goldmine went into production and operatedfor at least 3 years. Tenuous records indicate perhaps
110,000 tonnes of material wereprocessed with perhaps 331,000grams of gold recovered.
Grade possibly up to 14 g/t Au (sourceINETI).
Very limited modern exploration.
Only 5 drilling campaigns completed since1996, with a total of 5,233 meters in 46shallow holes. More then half targeted theSanto Antonio vein system.
San Antonio vein mined by the Romans
Penedono Concession: Exploration History
Acquired concession from Rio Narcea in June 2007. Comprised of several distinct clusters of auriferous quartz veins, with
seven key areas outlined to date. Exploration focused on the Santo Antonio vein system - 13 en-echelon,
northeast trending veins outcropping over a 1.2 by 1 km area on theproject
Limited shallow drilling in 2008-2010 by Colt on Veins 11 and 13. Theseveins, which had never been drill tested before, produced several high-grade gold intersections*: (see following slide). 180.57 g/t over 0.38 m 87.04 g/t over 1.00 m included in 39.67 g/t over 2.23 m 34.40 g/t over 0.87 m included in 24.05 g/t over 1.87 m 26.56 g/t over 0.56 m included in 13.35 g/t over 1.41 m 18.37 g/t over 1.54 m included in 5.89 g/t over 8.14 m*drill hole interval widths
NI 43-101 Technical Report completedDecember 2008.
Penedono Concession: Colt Exploration Results
Colt 2008 – 2010 Drilling: Significant Gold Results
Santo Antonio veins: # 11 and 13
Vein 11•180.57 g/t over 0.38 m
•5.89 g/t over 8.14 mincl. 18.37 g/t over 1.54 m
• 8.34 g/t over 6.74 mincl. 7.00 g/t over 1.39 mincl. 24.05 g/t over 1.87 m
incl. 15.04 g/t over 1.00 mincl. 34.40 g/t over 0.87 m
Vein 13• 39.67 g/t over 2.23 m
incl. 59.99 g/t over 1.47 mincl. 87.04 g/t over 1.00 m
• 13.35 g/t over 1.41 mincl. 26.56 g/t over 0.56 m
13.35 g/t /1.41 m
39.67 g/t /2.23 m
Vein #11
5.89 g/t /8.14 m
8.34 g/t /6.74 m
Vein #13
180.57 g/t /0.38 m
The Penedono Project has potentialfor: high-grade vein gold depositsand low grade open pit gold zones.
Although the Santo Antonio veinsystem remains a major target forfurther drilling by Colt, other areas ofwidespread vein clusters as well asvast gold-in-soil anomalies remainlargely under-explored and have notbeen drill tested.
Interpretation and Conclusions: “It isapparent that there existhydrothermal systems with thecapacity and potential to hostsignificant gold and tungstendeposits.” (according to NI 43-101report)
Penedono Concession: Outlook
Penedono: Drill rig in operation
•Targeting Volcanogenic Massive Sulphide (VMS) deposits: copper, lead, zinc, silver and gold.
•Located within the Iberian Pyrite Belt (IPB), a geological environment known for world-class VMS deposits (see following table).
•Concession adjacent to three known VMS deposits:
Lagoa Salgada: 2 MT @ 0.36% Cu, 4.44% Pb, 5.03% Zn, 1.19 g/t Au and 74 g/t AgLousal (mine closed): 6 MT @ 0.7% Cu, 0.8% Pb, 1.4% Zn, 1 g/t Au and 20 g/t Ag Caveira : exploited during Roman times
•Known geophysical anomalies have not been fully tested; very limited drilling.
•Excellent infrastructure.
Index
Santa Margarida
Santa Margarida do Sado Concession
LAGOA SALGADA DEPOSIT
Tonnage ~ 2 MT @
0.36% Cu, 4.44% Pb, 5.03% Zn, 1.19 g/t Au and 74 g/t Aginferred mineral resource 2007
Santa Margarida
do Sado
LOUSAL MINE (closed in 1988)
Produced ~ 6 MT @
0.7% Cu, 0.8% Pb, 1.4% Zn, 1 g/t Au and 20 g/t Aghistorical resource
Santa Margarida do Sado: Location Map
Country Num. dep
Tonnage(Mt)
Cu(Mt)
Pb(Mt)
Zn(Mt)
Ag(t)
Au(t)
Australia (Archean to Permian) 30 318 4.1 4.1 12.8 13345 486
Mount Read belt - Tasmania (Cambrian) 6 149 1.5 2.5 6.1 7423 156
Canada (Superior Province - Archean) 87 696 12.4 0.9 26.6 30621 669
Abitibi (Archean) 40 476 9.5 0.3 17.3 17284 575
Rouyn - Noranda + Val d'Or (Archean) 20 233 5.1 0.0 4.3 3995 528
Iberian Peninsula IPB (Dev. to Carbon.) 88 1 725 21.5 12.1 34.1 44707 898
Neves Corvo (by itself) 1 270 4.3 0.4 3.8 2 664 ?
Table - Comparison of ore Tonnage (Ore Mined plus Resources and Reserves)From Massive Sulphide Deposits of Canada, Australia and IPB
Mt - Million metric tonnes; t - metric tonnes(Adapted and modified after Leistel et al., 1998)
Importance of the Iberian Pyrite Belt (IPB)
(source INETI - Portugal)
Santa Margarida do Sado Concession
Note: 5 of 11 Supergiant VMS deposits in the world are located in the Iberian Pyrite Belt, in Spain and Portugal.
(Source: Galley, A.G., Hannington, M.D., and Jonasson, I.R., 2007: GSC)
Examples of large-tonnage volcanogenic massive sulphide (VMS) deposits of the World. Canadian deposits in red: IPB deposits outlined in yellow.
Importance of the Iberian Pyrite Belt (IPB)
Santa Margarida do Sado Concession
In the 1970’s, tungsten bearing skarns were discovered by government geologists south of the Tabuaço area.
Mineralization at Tabuaço consists of gently dipping, well-developed skarn horizons, up to 19 m thick, with significant scheelite (CaWO4).
In 1981-1982, a SPE/BRGM consortium drilled 6 holes leading to a historical resource at Tabuaço of :
~1million tons grading 0.87% WO3(not NI 43-101 compliant).
Best intersection includes:19.35 m @ 1.18% WO3
Virtually no exploration since 1982: Colt acquired concession in Dec. 2007.
NI 43-101 Technical Report, completed in Jan. 2009, indicated there was “ample justification to recommend continued exploration on the concession.”
Index
Armamar -Meda
Armamar – Meda Concession: Tabuaço Tungsten Project
Penedono Gold Project
Tabuaço Tungsten Project
Armamar –Meda
Concession
Armamar – Meda Concession: Tabuaço Tungsten Project - Location Map
Tabuaço Tungsten Project : Property View
Terrain photo looking northwest
Geology Map - Tabuaço Tungsten Project
S. Pedro das Águias ZoneHistorical resource of 1.0 M
tonnes @ 0.87% WO3
Upper skarn horizon
Lower skarn horizons
Granite
Metasediments
Quinta ZoneExposed skarn
horizon
NW trending
longitudinal trace
2.1 km long
NW trending longitudinal section: some 2.1 km long
Quinta ZoneExposed skarn
horizon
S. Pedro das Águias ZoneHistorical resource of 1.0 M
tonnes @ 0.87% WO3
Upper skarn horizon
Lower skarn horizons
Tabuaço Tungsten Project: longitudinal section
Approximate surface outline of
SPE-BRGM, 1982 Resource Estimate of
~1 Million tonnes @ 0.87 % WO3
(not NI 43-101 compliant)
Tabuaço Tungsten ProjectS. Pedro das Águias Zone – Plan Map
N
B
Cross-section A – B: S. Pedro das Águias ZoneUpper and lower horizon results
Note: Panasqueira tungsten mine, located some 100 kmsouth of Tabuaço, hosts P&P Reserves of 2.43 MT @0.243% WO3 . (Source : Primary Metals, 2007)
Tabuaço Tungsten Project: High-Grade Tungsten Surface mapping, prospecting, channel and rock sampling completed on
skarn horizons by Colt since 2008. Selected surface and channel results from sampling: include:
São Pedro das Águias Zone – main skarn horizon: surface avg. gradeof 0.673% WO3; average from 23 channel samples taken across thewidth of the horizon, but over a total outcrop extension of 260 m.
São Pedro das Águias Zone - main skarn horizon: 0.45% WO3 over23.3 m: average from 6 samples collected over continuous width of23.3 m; including 0.78 % WO3 over 12.45 m.
Several samples from areas along strike returned values above 0.5 % WO3
Many samples also displayed elevated tin assay values
Tabuaço Tungsten Project: Recent Drill Results Drilling recently initialed by Colt on the São Pedro das Águias Zone to
confirm and expand on historical resource of ~1.0 million tonnes grading0.87% WO3 (non NI 43-101 compliant) has returned following results todate:
Hole DHT-01B: (press release January 20, 2010 )
4.75 m grading 0.52% WO3;
18.80 m grading 0.73% WO3;
includes 2.10 m grading 1.01% WO3 includes 13.77 m grading 0.84% WO3, which includes 3.00 m grading 1.14% WO3 and 6.32 m grading 0.99% WO3.
Hole DHT-02: (press release February 3, 2010)
13.60 m grading 0.93% WO3
includes 10.35 m grading 1.17% WO3, which includes 5.0 m grading 1.44% WO3
Hole DHT-01B: 18.80 m grading 0.73% WO3
Hole DHT-02: 13.60 m grading 0.93% WO3
Tabuaço Tungsten Project: OutlookDrilling:São Pedro das Águias Area:
~4,200 m drill program to confirm and expand on the historicalresource of ~1.0 million tonnes grading 0.87% WO3 (not NI 43-101compliant) .
Quintã – Távora Area: ~1,000 m drill program to test NW extensions of the main skarn
horizon
Metallurgical testwork: Bulk sampling of skarn mineralization for metallurgical testing
Evaluation & pre-feasibility workRegional Exploration:
Continued follow-up geological mapping, sampling, trenching and scout drilling of regional targets
IN CONCLUSIONColt Resources Inc. is well poised to take advantage of the strong anticipated movement is junior gold and mineral exploration stock prices with :
• A solid and experienced management team,• Large land package of very promising primarily gold and
tungsten properties that remain largely unexplored or under-explored,
• Large concession within the prolific Iberian Pyrite Belt, a geological environment with potential for world-class base metal deposits,
• Properties are located in a stable and mining-friendly country, have easy access and excellent infrastructure.
Please visit us at www.coltresources.com
Thank you