🕐10.01.11 - 17:54 Uhr
CORAL DRILLS 1.52m OF 6.24 G/T AU AT ROBERTSON, NEVADA
Untitled Document
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TSX VENTURE.............................CLH
US OTC..................................CLHRF
FRANKFURT................................GV8
52 Week Range.............$0.27 - $0.95
Outstanding Shares...........32,513,391
Investor Relations...........604.682.3701 |
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CORAL DRILLS 1.52m OF 6.24 G/T AU AT ROBERTSON, NEVADA
Coral Gold Resources Ltd.
is pleased to announce results from the final five diamond core holes drilled at Corals Robertson property in Crescent Valley Nevada.
These holes were part of a 15 hole diamond core program.
The holes, CC10-10 to CC10-15 are vertical and range from 400 to 600 feet in depth (122 to 183 metres) hole CC10-10 was on the Altenburg Hill zone.
Hole CC10-11 was drilled on the lower Triplet Gulch zone but was abandoned at shallow depth due to very poor core recovery and slow progress.
Holes CC10-12 thru CC10-15 were drilled on the west end of the Gold Pan Zone.
The program was 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 N143-101 and were fire assayed by ALS Minerals Labs using an AA finish.
Results of the five holes compared to the twinned RC holes (where applicable) are as follows:
We are pleased to see grade improvement from historic RC to current diamond core holes. Also we are excited to be working towards having a new PEA by the middle of this year.
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 Golds other Nevada projects, visit the companys website at www.coralgold.com
ON BEHALF OF THE BOARD
"David Wolfin"
______________________ David Wolfin, President
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 Companys
periodic filings with Canadian securities regulators.
Such information
contained herein represents managements 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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