Colt investor presentation July 2nd, 2010
-
Upload
colt-resources -
Category
Investor Relations
-
view
909 -
download
0
description
Transcript of Colt investor presentation July 2nd, 2010
1
Gold, Tungsten,
and Base Metal Projects
in Portugal
GTP – (CNSX)
P01 – (FRANKFURT)
COLTF – (USA Pink Sheets)
2
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.
3
Who we are
A Canadian junior exploration company
With an experienced dynamic management
Determined to become a producer within two
years
4
Experienced Dynamic Management Team
Directors and OfficersNikolas Perrault, CFA, President and CEO
Mario Justino, M.Sc., P. Geo., Vice-President Exploration
Aurelio Useche, CMA, Director & Chief Financial Officer
James Ladner, lic.oec.HSG, Director, Zurich
Donald J.P. Ziraldo, C.M., LLD, Director, Toronto
David Johnson, B.A.(Hons.), LL.B. Attorney, Director
J. Wayne Murton, P.Eng., Director, Vancouver
Exploration TeamMario Justino, M.Sc., P. Geo., Vice-President Exploration
J. Wayne Murton, P.Eng., Geologist and Mining Consultant
Filipe Faria, Geologist and Principal Consultant in Portugal
Jorge Valente, P.Eng., CEO, Eurocolt Resources Ltda.:
(the wholly owned subsidiary of COLT in Portugal)
Advisory BoardJean Depatie, Montréal, Québec
Declan Costelloe, Lakewood, Colorado,
Kevin Ernst, New York, New York
John D. Redfern, Montréal, Québec
5
Share Structure1
Shares Outstanding: 39 million
Shares fully diluted: 63 million
Current share price $0.27
52 wk high – low $0.47 – $0.07
Market capitalization: $10.5 million
Average exercise price
of warrants and options: $0.30 per share
Significant management ownership and
strong shareholder base
Listed on the Canadian National Stock Exchange under GTP
Listed on Frankfurt and Berlin Exchanges under the Symbol P01
Listed on USA Pink Sheets under the Symbol COLTF
1As of July 2, 2010 CAN$
6
Why Portugal?
Stable and mining friendly country of the European Union
Exceptional geological potential; remains largely overlooked andunder-explored
Properties easily accessible year round
Well developed modern infrastructure: close proximity to roads,water, power, and port facilities
Excellent labour force availability with a hard working culture
Excellent government relationships at both state and municipallevels
Potential access to various EU financial incentive programs forinfrastructure development
7
Penedono Gold 102 km2
Armamar - MedaTungsten -
Gold436 km2
Moimenta -
Almendra
Gold –
Tungsten -
Tin
566 km2
Santa Margarida
do Sado
Massive
Sulphides
(VMS):
Cu Pb Zn (Ag,
Au)
360 km2
Concession Name Principal commodity
Northern Portugal
Southwestern Portugal
Total: ~ 1,464 km2
A significant land package.
Currently the second largest holder
of mineral exploration rights in
Portugal.
Properties:
8
Why Gold?
9
Outline of concessions and location of
exploration targets in Northern Portugal
10
Penedono Gold Concession
Mineralization comprised of widespread clusters of gold-bearing vein systems, locally containing tungsten.
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 throughout the concession, with a supportive local population
Index
Penedono
11
Santo Antonio Gold
Mine
(closed)
Penedono
Concession
outline
Vein
sets
(Modified after W. Gruenwald, 2008)
Penedono Concession
Sept. 2009
Penedono Gold ConcessionExtent of gold-bearing vein sets over NW Zone: 16km long
Main Drill Area
Santo Antonio
13 en echelon
vein system
12
Penedono Gold Concession Exploration History
Explored and exploited for gold dating back to Roman times.
Very limited modern exploration.
In the mid-1950’s, the Santo Antonio gold mine went intoproduction and operated for at least 9 years.
– Tenuous records indicate perhaps 110,000 tonnes of materialwere processed with perhaps 331,000 grams of goldrecovered.
– Grade possibly up to 14 g/t Au (source INETI).
Only 6 drilling campaigns completed since 1996, with a total of7,431 meters in 68 shallow holes.
Just over half targeted the Santo Antonio vein system.
13
Penedono Gold ConcessionExploration Results
Acquired concession from Rio Narcea in June 2007. Several distinct clusters ofauriferous quartz veins, with seven key areas outlined to date.
Focused on the Santo Antonio vein system - 13 en echelon, northeast trendingveins outcropping over a 1.2 km by 1 km area.
Limited shallow drilling in at Santo Antonio in 2008-2010 by Colt on Veins 11and 13 produced several high grade gold intersections*: (see following slide).
Table of High Grade Results: Veins 11 and 13
Vein High grade drill intervals: Au g/t Hole number
vein 11 180.57 g/t over 0.38 m PPE 10-01
vein 13 87.04 g/t over 1.00 m included in 39.67 g/t over 2.23 m PPE 08-02
vein 13 75.64 g/t over 0.08 m (left over vein from mined stope) PPE 10-04
vein 13 35.34 g/t over 0.75 m included in 15.31 g/t over 1.80 m PPE 10-07
vein 11 34.40 g/t over 0.87 m included in 14.59 g/t over 3.15 m PPE 08-03
vein 13 26.56 g/t over 0.56 m included in 13.35 g/t over 1.41 m PPE 08-01
vein 11 18.37 g/t over 1.54 m included in 9.21 g/t over 4.14 m PPE 08-04
14
Penedono Gold Concession2008 - 2010 Drilling: Significant Gold ResultsSanto Antonio veins: # 11 and 13: Press release April 13, 2010
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. 14.59 g/t over 3.15 m
incl. 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• 75.64 g/t over 0.08 m
• 39.67 g/t over 2.23 m incl. 59.99 g/t over 1.47 m
incl. 87.04 g/t over 1.00 m
• 13.35 g/t over 1.41 mincl. 26.56 g/t over 0.56 m
• 15.31 g/t over 1.80 mincl. 35.34 g/t over 0.75 m
13.35 g/t /1.41 m 39.67 g/t /
2.23 m
Vein #11
18.37 g/t /1.54 m
14.59 g/t /3.15 m
Vein #13
180.57 g/t /0.38 m
75.64 g/t /
0.08 m
15.31 g/t /
1.80 m
100 m
Santo Antonio
13 en echelon
vein system
15
Penedono Gold Concession: Outlook
The Penedono Project has potential for high-grade vein gold
deposits and low grade open pit gold zones.
The Santo Antonio vein system remains a major target for
further drilling by Colt, other areas of widespread vein clusters
as well as vast gold-in-soil anomalies remain largely under-
explored and have not been drill tested.
“It is apparent that there exists hydrothermal systems with the capacity and
potential to host significant gold and tungsten deposits.” (as per NI 43-101 report)
16
Why Tungsten?
Unique physical attributes:
– Highest melting point of all elements except carbon with highthermal and electrical conductivity
– Extremely strong, wear resistant; with a hardness close to thatof diamonds - highest tensile strength of all metals
– Superior heaviness and density among metals
– Extremely corrosive resistant and relatively acid resistant,deemed environmentally benign
Strategic commodity having few, if any replacements, in themajority of its industrial applications
Primary use mainly for industrial cutting tools
17
Investing in Tungsten
Trigger for new investment in tungsten
exploration.
Mid-2000s: Rapid growth and emergence of the
Chinese economy increased demand for tungsten
products in the domestic market and reduced
exports, resulting in rapid global price increases.
In the 1980s and 1990s, production of
WO3 and APT shifted to China. By late
1990s, China secured 90% of global
market for tungsten supply and
production.
Global annual demand currently projected at 60,000 to 80,000 tonnes, expected to
grow by 8% to 10% annually.
Chinese annual consumption estimated at 24,000 tonnes.
Current price ~US$210 to US$2151 per MTU.
1As of June 24, 2010
18
Armamar – Meda Concession
Tabuaço Tungsten Project
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 :
~1 million 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.
Index
NI 43-101 Technical Report, completed in Jan. 2009, indicated there was “ample justification to recommend continued exploration on the concession.”
Armamar -
Meda
19
Geology Map of the
Tabuaço Tungsten
Project
Lower skarn horizons
Granite Metasediments
Quinta Zone
Exposed skarn horizon
NW trending
longitudinal trace A-B
2.1 km long
A
B
S. Pedro das Águias Zone
Upper skarn horizon
Main Drill Area
20
Armamar – Meda ConcessionTabuaço Tungsten Project - longitudinal section
NW trending longitudinal section: 2.1 km long
Quinta Zone
Exposed skarn
horizon
São Pedro das Águias
Zone
Historical resource of
1 Million tonnes @ 0.87% WO3
Upper skarn horizon
Lower skarn horizons
A BMain Drill Area
21
Armamar – Meda Concession Tabuaço Tungsten Project – High Grade W
• Since 2008, surface mapping, prospecting, channel and rock sampling completed on skarn horizons by Colt.
• 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 and many samples also displayed elevated tin assay values
Note: Panasqueira tungsten mine, located some 100 km south of Tabuaço, hosts P&P Reserves of 2.43 MT @
0.243% WO3 . (Source : Primary Metals, 2007)
22
Armamar – Meda ConcessionTabuaço Tungsten Project – Drill Results
Drilling initiated by Colt on the São Pedro das Águias Zone to confirm and
expand on historical resource of ~1.0 million tonnes grading 0.87% WO3*
returned the following results in the first two drill holes:
Hole DHT-01B
(press release January 20, 2010)
Hole DHT-02
(press release February 3, 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 0.96% WO3.
13.60 m grading 0.93% WO3
includes 10.35 m grading 1.17% WO3,
which includes:
5.0 m grading 1.44% WO3
*non NI 43-101 compliant
23
Drill Hole incl. (deg) depth (m)skarn
horizonfrom (m) to (m) interval* (m)
WO3%
(avg.)
DHT-01B -90 59.85 upper 7.10 11.85 4.75 0.52
main 19.15 37.95 18.80 0.73
incl. 19.15 21.25 2.10 1.01
incl. 24.18 27.18 3.00 1.14
incl. 29.18 36.00 6.82 0.96
DHT-02 -90 90.30 main 52.60 66.20 13.60 0.93
incl. 57.95 62.95 5.00 1.44
DHT-05 -90 42.25 main 16.95 26.65 9.70 0.38
incl. 16.95 19.45 2.50 1.25
DHT-06 -90 84.85 main 12.64 17.82 5.18 0.34
DHT-07 -90 60.35 main 35.80 38.60 2.80 0.25
DHT-08 -90 78.35 main 42.40 54.40 12.00 0.60
incl. 42.40 47.75 5.35 1.09
lower 67.75 70.70 2.95 0.15
DHT-09 -45 150.00 upper 60.50 62.20 1.70 0.25
main 93.60 115.20 21.60 0.54
incl. 93.60 96.00 2.40 1.11
incl. 99.00 104.00 5.00 0.88
lower 124.15 127.80 3.65 0.17
Interval: > 5m in red
WO3% (avg.): highlights > 0.50 and > 1.00 *downhole interval
Armamar – Meda ConcessionTabuaço Tungsten Project – Drill Results
WO3% drill results*
Highlights after
only 9 hole drill
program.
*Press release June 14, 2010
24
Armamar – Meda Concession Tabuaço Tungsten Project – Outlook
São Pedro das Águias Area:
Drill program to confirm and expand on the historical resource of ~1.0million tonnes grading 0.87% WO3 (not NI 43-101 compliant) .
Quintã – Távora Area:
Drill program to test NW extensions of the main skarn horizon
Bulk sampling of skarn mineralization for metallurgical testing
Continued follow-up geological mapping, sampling, trenching and scout drilling of regional targets
Drilling
Metallurgical test work
Evaluation & pre-feasibility work – Regional Exploration
25
Regional Gold and Tungsten Targets*
Penedono gold
project
Tabuaço tungsten
project
Numão Au Prospect
Up to 38.29 g/t Au
Almendra W Prospect
Up to 1.80% WO3
Muchões W Prospect
6 km strike length
Samples up to 2.90% WO3
Santa Comba area
Up to : >200 ppm Ag;
5309 ppm Cu
*Press release June 7, 2010
26
Santa Margarida do Sado Concession
Index
• 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 Ag Lousal (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.
Santa Margarida
27
Santa Margarida do Sado Concession - Location Map
LAGOA SALGADA
DEPOSIT
Tonnage ~ 2 MT @
0.36% Cu, 4.44% Pb, 5.03%
Zn, 1.19 g/t Au and 74 g/t Ag
inferred 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 Ag
historical resource
28
Santa Margarida do Sado ConcessionImportance of the Iberian Pyrite Belt (IPB)
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)
(source INETI - Portugal)
29
Santa Margarida do Sado ConcessionImportance of the Iberian Pyrite Belt (IPB)
5 of 11 Supergiant VMS deposits in the world are located in
the Iberian Pyrite Belt, in Spain and Portugal.
Examples of Supergiant volcanogenic massive sulphide (VMS) deposits of the World:
Canadian deposits in red: IPB deposits outlined in yellow.
(Source: Galley, A.G., Hannington, M.D., and Jonasson, I.R., 2007: GSC)
30
Why Colt Resources?
• A solid, 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 that has potential for world-class base metal deposits
• Properties located in a stable and mining-friendly country of the EU
with easy access, excellent infrastructure and hard-working
available labour force
• Maintained excellent government relationships at both state and
municipal levels
• Currently reviewing potential EU financial incentive programs for
infrastructure
GTP – (CNSX)
P01 – (FRANKFURT, BERLIN)
COLTF – (USA Pink Sheets)
31
Nikolas Perrault, CFA, President & CEO
Tel: +1 (514) 394-0009
E-mail: [email protected]
Mario Justino, M.Sc., P.Geo., Vice-President Exploration
Tel: +1 (514) 394-0009
E-mail: [email protected]
Aurelio Useche, CMA, Chief Financial Officer
Tel: +1 (514) 394-0009
E-mail: [email protected]
Links
Company website: www.coltresources.com
Tungsten prices: Tungsten Prices - Metals Place
Gold prices: Technical Gold Charts and Data - London Fix
Contacts