Coral Gold Resources Ltd. (TSX VENTURE:CLH)(OTCBB:CLHRF)(FRANKFURT:GV8)(BERLIN:GV8) announced the results from the first three diamond core holes drilled at Corals Robertson property in Crescent Valley Nevada.
These initial holes are part of a 15 hole diamond core program which Coral started on September 16.
The holes, which are vertical, range from 400 to 600 feet in depth and focus on the Altenburg Hill and Gold Pan Zones. The drill program is currently on the tenth hole. Results from holes 4 through 7 are expected shortly.
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.
The 15 hole program is part of a program designed to upgrade the resource in the Robertson Core area.
All samples were collected by Robert McCusker, a qualified person as defined by N143-101 and were fire assayed by ALS Minerals Labs using an AA finish.
Results of the first three holes compared to the twinned RC holes are as follows:
In other developments, Barrick Gold Exploration has notified Coral that it has terminated its option on the Norma Sass property (Coral Gold Resources Ltd. 66.7% & Levon Resources Ltd. 33.3%). They have however, paid all fees on the claim group for the coming year. Although Barrick did not intersect significant intercepts of mineralization at depth, Coral still holds these claims in high regard because of their proximity to the Pipeline mine and previous significant drill intercepts drilled in 1996 in the northeast section of the property.
Coral, incorporated in 1981 continues to explore and develop a series of strategic claims along the Cortez Gold trend known as the Robertson Project. Through independent exploration and joint venture partnerships with Amax, and Placer Dome, Coral has established an inferred gold resource of 3.4 million ounces.
Source: Coral Gold Resources Ltd.