Coral Drills 6m of 3.74 g/t Au at Robertson, Nevada
December 08 2010 - 7:00AM
Marketwired Canada
Coral Gold Resources Ltd. (TSX
VENTURE:CLH)(OTCBB:CLHRF)(BERLIN:GV8)(FRANKFURT:GV8) is pleased to announce
encouraging results from a further three diamond core holes drilled at Coral's
Robertson property in Crescent Valley, Nevada.
These holes are part of a 15 hole diamond core program which Coral started
September 16.
The holes, CC10-7 to CC10-9 are vertical and range from 400 to 600 feet in depth
(122 to 183 metres) and focus on the Altenburg Hill zone. The drill program is
currently on the 15th and final hole.
The program is designed to twin 2008 RC holes in order to provide material for
metallurgical test work. This will consist of column leach tests by McLelland
Labs in Reno, Nevada.
All samples were collected by Robert McCusker, a qualified person as defined by
NI 43-101 and were fire assayed by ALS Minerals Labs using an AA finish.
Results of the three holes compared to the twinned RC holes are as follows:
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From To Thickness Au Thickness Au
Hole ID (ft) (ft) (ft) oz/t (m) g/t
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CC10-7 5 15 10 0.021 3.0 0.72
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75 155 80 0.040 24.4 1.37
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Including 130 150 20 0.109 6.1 3.74
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190 195 5 0.031 1.5 1.06
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275 295 20 0.013 6.1 0.45
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325 330 5 0.040 1.5 1.37
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CR08-26 25 155 130 0.020 39.6 0.69
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290 315 25 0.018 7.6 0.62
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CC10-8 95 175 80 0.019 24.4 0.65
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230 245 15 0.023 4.6 0.79
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290 305 15 0.021 4.6 0.72
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320 350 30 0.026 9.1 0.89
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390 405 15 0.022 4.6 0.75
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465 470 5 0.035 1.5 1.20
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490 495 5 0.11 1.5 3.77
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CR08-25 60 150 90 0.019 27.4 0.65
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375 415 40 0.013 12.2 0.45
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CC10-9 50 145 95 0.014 29.0 0.48
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195 215 20 0.027 6.1 0.93
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270 285 15 0.029 4.6 0.99
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CR08-21 0 100 100 0.019 30.5 0.65
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130 200 70 0.017 21.3 0.58
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270 305 35 0.017 10.7 0.58
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Coral Gold, incorporated in 1981 continues to explore and develop a series of
strategic claims along the Cortez Gold trend known as the Robertson Project.
Coral has an inferred gold resource of 3.4 million ounces. The Company notes
that gold assays from drilling completed in 2008 and 2010 are not included in
the current 3.4-million-ounce gold-inferred resource. This data is being input
into a new resource estimate. All the latest drilling and new metallurgical work
will be used in a new NI 43-101-compliant independent Preliminary Economic
Assessment anticipated for mid-2011. A PEA is designed to illustrate the project
viability in the current cost environment.
For more information on the Robertson Property and Coral Gold's other Nevada
projects, visit the Company's website at www.coralgold.com.
ON BEHALF OF THE BOARD
David Wolfin, President & Chief Executive Officer
This release contains statements that are forward-looking statements and are
subject to various risks and uncertainties concerning the specific factors
disclosed under the heading "Risk Factors" and elsewhere in the Company's
periodic filings with Canadian securities regulators. Such information contained
herein represents management's best judgment as of the date hereof based on
information currently available. The Company does not assume the obligation to
update any forward-looking statement.
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