Coral Gold Resources Ltd.:Update From Robertson Property Drill Program
August 18 2010 - 12:04PM
Marketwired
Coral Gold Resources Ltd. (TSX VENTURE: CLH)(OTCBB: CLHRF)(BERLIN:
GV8)(FRANKFURT: GV8) is pleased to announce that it will begin
drilling 15 diamond drill (core) holes at its Robertson property in
Crescent Valley, Nevada.
The program totaling 6700 feet will focus on the Gold Pan and
Altenburg Hill Zones and represents the first phase of the core
drilling program announced in Coral's February 2, 2010 News
Release. Drilling by Coral's contractor Major Drilling is expected
to start September 7, 2010 and should take six to eight weeks to
complete.
Coral had announced initial results of 9 holes of this year's RC
drilling program of 12 holes at Triplett Gulch (see News Release
dated July 7, 2010) the final 3 holes of this program will be
released shortly.
The company has withdrawn its original application for drilling
- the 2010 amendment to the Robertson Plan of Operations when the
Bureau of Land Management indicated the Environmental Assessment of
the Robertson property needed upgrading. Coral immediately
instructed SRK consulting to commence new environmental studies and
various field programs such as investigation of endangered species
habitats. (Currently Underway)
While the completion of the new comprehensive EA will delay the
next phase of the drill program, Coral stands by its on-going
commitment to sound environmental management.
Coral was incorporated in 1981 and 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.
Ongoing work is aimed at increasing resources through exploration
of near surface targets as well as deep drilling to evaluate the
potential for Carlin-style deposits below the Roberts Mountain
thrust fault. The discovery in 2007 of strongly anomalous gold
values in lower plate host rocks at Robertson has further
reinforced this potential which includes a number of excellent
untested geochemical and geophysical anomalies.
ON BEHALF OF THE BOARD
David Wolfin, President
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.
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.
Contacts: Coral Gold Resources Ltd. David Wolfin President
604.682.3701 604.682.3600 (FAX) info@coralgold.com
www.coralgold.com
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