Overview:

Coral Gold Resources Ltd. (CVE:CLH) has a portfolio of wholly owned and joint venture properties located along the Cortez gold trend in north-central Nevada. The Company’s keystone property is the Robertson Project, which adjoins Barrick Gold Mines’ Pipeline Mine – one of the lowest cost gold producers in Nevada, that has reported proven and probable reserves of 13.4 million ounces of gold. The Cortez and Carlin (Carlin Trend is North West of Coral) trends (southwest of Coral’s properties) are located in the most prolific gold region of the United States.

What we like about Coral Gold Resources:

• Coral’s projects are situated on the Cortez gold trend, and southwest of the Carlin trend, which account for 3/4 of America’s gold output.
• Nevada produces approximately 6 million ounces of gold per year.
• Coral’s properties are in prime position for joint venture opportunities with major gold producers in Nevada.
• Coral Gold already has 3.4 million ounces of gold

Chief Properties:

Nevada

Robertson Project

Coral Gold owns 100% interest in the Robertson Core claims. Robertson is an advanced-staged exploration project. It is located along the Battle Mountain/Cortez Gold trend in north-central Nevada and immediately adjacent to the Pipeline gold mine. Five mineralized zones have been identified on the property: Porphyry, 39A, Gold Pan, Altenburg Hill and Distal. The Robertson property has over 3.4 million ounces of inferred mineral resource, and deep drilling at Coral gold discovered indications of Carlin-type gold mineralization in lower plate rocks north of the Pipeline property.

Drilling at Robertson between 2004 and 2008 increased the gold resource on the property to over 3.4 million ounces. During the 2008 program, the Company completed almost 7,000 meters of reverse circular drilling in 33 vertical holes. Coral Gold’s most recent drill program ended on June 22, 2010, and consisted of 12 vertical 183 meter depth reverse circulation holes at 152 meter spacing at Triplett Gulch adjoining Altenberg Hill Drilling is aimed at upgrading Coral’s inferred resource into the measured and indicated categories and will be followed by a preliminary economic assessment to determine the viability of a heap leach mining operation.

Excluded

The Excluded cliams are subject to a joint venture agreement between Barrick Gold Mines and Coral Gold, in which Coral owns a 39% carried interest in the 161 unpatented lode claims. The strategically located property is just over 1,200 meters north of Barrick’s flagship Pipeline open pit mine. From 1997-1998 Cortez Gold Mines conducted a series of exploratory drilling programs on the property, with limited success. In 2002 Coral conducted a follow-up program, with mixed results. Although no significant mineral resource have been discovered to-date, wide-spaced deep drilling has established the presence of scattered significant gold values, anomalous levels of Carlin-type trace elements, key structural components and the occurrence of a preferred host strata – all indicative of the potential for the discovery of Carlin-style mineralization.

Norma Sass

Located immediately south of the Golden Acres open pit mine, and west of the Pipeline open pit mine, the Norma Sass property is in an excellent strategic position. The property operates under a joint venture agreement – Coral Gold 2/3, Levon Resources 1/3. Coral Gold also has an exploration agreement with Barrick Gold Mines, whereby Barrick holds the option to acquire up to a 75 % interest in the Norma Sass property.

Significant Carlin-style gold mineralization has been found on the property. The goal is to reach the Roberts Mountains Fm. the principal host rock for the major disseminated gold deposits in the district, including Pipeline/South Pipeline and Gold Acres, as well as the nearby Cortez-area gold deposits. It is estimated to be less than 457 meters under portions of the Norma Sass claims. The conceptual target is potential high-grade (>0.50 oz Au/t) Carlin-style gold mineralization hosted by sheared carbonate strata in the upper 150 ft of the Roberts Mountains Fm.

Management:

Louis Wolfin, CEO & Director – Mr. Wolfin has directed Coral’s growth from its inception in 1982. He directed the timely acquisition of Coral’s Nevada holdings and negotiated joint venture exploration agreements with Amax Gold and Placer Dome/Kennecott. Mr. Wolfin’s career in management and finance spans more than forty years. Among his notable achievements was the development of the Avino silver mine in Mexico, which operated continuously for over 30 27 years.

David Wolfin, President & Director – Mr. Wolfin brings 23 years’ experience in mining and finance. He learned the business from the ground up, starting as a geologist’s assistant in Nevada, a metallurgist’s assistant at the Avino mine in Mexico and later in a number of mining and exploration-related capacities. In the late 1980s, Mr. Wolfin worked on the floor of the Vancouver Stock Exchange and also for several brokerage houses, gaining a solid foundation in the finance side of the industry. Since 1990, Mr. Wolfin has worked for the Resource Group of companies, including Avino Silver & Gold Mines Ltd. (President & Director), Bralorne Gold Mines Ltd. (Vice-President Finance & Director), Coral Gold Resources Ltd. (President & Director), Levon Resources Ltd. (Director), Berkley Resources Inc. (Director), Mill Bay Ventures Inc. (Director), Cresval Capital Corp. (Director) and Gray Rock Resources Ltd. (Director). In his various roles with these firms, he has helped raise over C$50 million.

Gary Robertson, Director – A Certified Financial Planner, Mr. Robertson has worked in the financial industry for the past 20 years. He presently serves on the board of several private companies as well as on the board of six Canadian junior gold mining companies including Bralorne Gold Mines Ltd., Avino Silver & Gold Mines Ltd., Coral Gold Resources Ltd., Mill Bay Ventures Inc., Levon Resources Ltd. and Sage Gold Inc.

Lisa Sharp, CFO – Lisa Sharp is a Certified General Accountant with over 15 years of senior management experience working with both private and public companies in a variety of industries. Ms. Sharp’s experience encompasses financial and regulatory compliance, private placement financings and U.S. Filings. Most recently Ms. Sharp has been the Chief Financial Officer of a technology company listed on the TSX Venture Exchange.

Lloyd Andrews, Chairman and Director – Mr. Andrews, a former Washington State Senator, provides Coral with extensive experience in both the private and public sectors. He is a retired member of the Board of Smith Barney Mutual Fund.

Chris Sampson, V.P. Exploration & Director – Mr. Sampson is a Professional Geologist who, in his 30+ years in the mining industry, has worked on hundreds of mineral projects worldwide. He has played a key role in exploration and development of Coral’s Nevada holdings since their initial acquisition in 1988.

Dorothy Chin, Corporate Secretary – Ms. Chin is a member of the Chartered Secretaries Canada, a Canadian Division of The Institute of Chartered Secretaries and Administrators (“ICSA”). She has more than 15 years experience in the mining and resource sectors, serving with public companies in regulatory compliance, governance, and administration of corporate affairs.

9 Comments

Tweet