455 GRANVILLE STREET, SUITE 400
VANCOUVER
British Columbia
Canada,
V6C 1T1
Phone: +1 (604) 682-3701
Fax: +1 (604) 682-3600
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On the Battle Mountain-Cortez Gold Trend
Coral's projects are situated along the Cortez gold trend, which lies southwest of the renowned Carlin trend. The Cortez and Carlin trends represent the United States' key gold region, accounting for three-quarters of the country's gold output.
Location & Ownership
Coral's primary properties—Robertson, Excluded, Norma Sass and Ruf—lie in the south Crescent Valley region. Coral owns 100% interest in the Robertson claims, while the Excluded Claims operate under a 61/39 joint venture with Cortez Gold Mines (a joint venture between Barrick Gold Corporation and Kennecott Explorations). Norma Sass and Ruf are joint ventures with Levon Resources Ltd. Coral Gold also holds 100% interest in the Lander Ranch and Blue Nugget claims, located immediately north of Robertson.
One of the World's Most Important Gold Districts
Coral Gold chose to explore in Nevada—and particularly along the Cortez gold trend—with good reason. Although Nevada produced 6.3 million ounces of gold in 2006, the state's gold output is decreasing. Because Nevada's gold mines are maturing, major producers such as Barrick Gold and Newmont will need to replace reserves either through exploration or by acquiring defined resource from junior companies, such as Coral Gold.
For more information go to:
www.coralgold.com
Company NewsFriday, October 09, 2009 Coral Gold Resources announces that it has received the revised resources for Robertson Property utilizing lower cut-off grades to reflect positive movement in the price of gold over the last three years. The original estimate was based on a gold price of US$600 per ounce which was a conservative estimate of gold prices in 2007, which estimated the inferred gold resources for the Robertson property at over 2.3 million ounces of gold. Gold prices over the last three years have been significantly higher than US$600 and all indicators point towards higher prices in the near, medium and long-term future. Based on more reasonable gold prices that reflect the rolling average for the preceding three years, it was decided that of US$850 per ounce should be used at this time to more accurately represent the resources that may be reasonably expected to be extracted. Based on this lower gold cut-off value of 0.0106, the gold resource at Robertson increases to 3.4 million ounces, which is a 47% increase from the previously reported figure. It should be noted that changes in operating costs may change this figure. No work has been done to reflect and change in operating costs as estimated in the Beacon Hill study on which the cut-off grade calculation was based. News ReleasesTuesday, February 02, 2010 Wednesday, January 13, 2010 Tuesday, January 12, 2010 Map Legend: Producer Past Producer  Development  Exploration |
