GREY:COLTF - Post by User
Post by
RiscTecon Aug 12, 2010 8:20am
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Post# 17343995
Colt buys 0,6 Mio oz open-pit with 350$/oz cost
Colt buys 0,6 Mio oz open-pit with 350$/oz costI investigated the
Montemor project history a bit...here is what i found:
Tamaya Resources 2007 Annual Report:
https://newsstore.smh.com.au/apps/previewDocument.ac?docID=GCA00835333TMR&f=pdf
See page 11:
Whilst there has been limited drilling activity at Montemor
during 2007, a near-surface diamond drill hole returned
an impressive 7.24 metres at 24 g/t gold 6 metres from surface...
Australian Stock board:
https://www.shares.com.au/forum/showthread.php?t=2036&page=7
The company is moving towards feasibility with the Montemor project,following scoping studies indicating a production rate of 60kozpa at acost below US$350/oz. The current resource base consists of shallowshear-hosted deposits, with potential for extensions to known resourcesalong strike and at depth. The initial JORC inferred resource atMontemor has previously been established at 6mt@2.2g/tAu for 0.61moz. Over 50,000m of drilling has previously been undertaken at the deposit.
This means Colt is becoming a producer not only on their Tungsten property but also on this new Gold property shortly (i guess within a year).