Robertson Property Analysis To Determine Work Plan For Further Drilling And Engineering Studies

VANCOUVER - Coral Gold Resources Ltd. has concluded a watershed year, highlighted by the sale of our Robertson Property, in Nevada, to Barrick in June 2017. Barrick recently reported on their work at Robertson. Their activities and progress included: PFS Engineering & Permitting stage 1 budget approved; Completed first drilling program to verify historical data; Three core rigs assigned to the Robertson property drilled 7 PQ holes and 10 HQ holes; Assay results are currently being analyzed; Existing hydrology data reviewed; Geotechnical logging conducted on four 2017 drill holes with transducers installed; Engaged with metallurgical lab to conduct testing on the 2017 drilling samples; and 2018 Baseline studies programs developed. 

Barrick’s work plan was designed to validate the acquisition resource and metallurgical database. The new data and a resource model update are expected in the first quarter. Results of this analysis will determine the Second Quarter 2018 through Second Quarter 2019 project work plan for further drilling and engineering studies.

David Wolfin, President & Chief Executive Officer of Coral Gold Resources Ltd. said, “We are thrilled to see Barrick use its vast experience in the region which would make Coral’s NSR a very valuable asset with continued economic benefits for many years to come. There is absolutely no better partner for us in this region than Barrick. “Their track record, their investment in the region, and the vast knowledge they have amassed about Cortez area geology, represent one of the world’s great success stories in mining.”

The Cortez gold camp has produced nearly 20 million ounces of gold since 1994 from the Pipeline and Cortez Hills complexes. From 1997 forward, production has averaged nearly one million ounces per year.

“Looking ahead to 2018, we will be evaluating our three gold properties in the Cortez region: the Norma Sass, JDN and Eagle. These properties are ideally located in the immediate vicinity of Robertson, and we now have the funds for proper and thorough exploration. We will also be investigating other opportunities, both in Nevada and beyond,” said Wolfin.