CORAL DRILLS 5 FT OF 0.4891 OZ/T GOLD AT ROBERTSON PROPERTY, CRESCENT VALLEY, NEVADA
The program consisted of 12 vertical 600 ft depth reverse circulation holes at 500 ft spacing. Hole locations can be viewed on Coral's website www.coralgold.com The program started 1 June and was completed 22 June.
Coral has received gold assay results from holes CR10-1 through CR10-9. Intersections over cut off grade of 350 ppb (0.0103 oz/ton) are as follows:
Hole Depth from to ft Au(ppb) Au(oz/ton) CR10-1 0 -- 10 788 0.0234 130 -- 135 440 0.0128 155 -- 160 383 0.0112 195 -- 220 388 0.0113 225 -- 260 389 0.0114 280 -- 295 487 0.0142 460 -- 480 579 0.0169 555 -- 560 508 0.0148 585 -- 600 351 0.0103 CR10-2 135 -- 140 789 0.0230 215 -- 245 1,180 0.0337 incl 235 -- 240 4,630 0.135 320 -- 340 710 0.0171 360 -- 370 1505 0.0437 460 -- 465 1020 0.0298 510 -- 520 656 0.0195 580 -- 585 492 0.0143 CR10-3 20 -- 25 733 0.0214 285 -- 295 1,117 0.0325 350 -- 360 624 0.0182 490 -- 495 350 0.0102 515 -- 535 1,385 0.0404 585 -- 595 555 0.0162 CR10-4 10 -- 15 1,430 0.0417 320 -- 330 745 0.0217 500 -- 505 417 0.0122 580 -- 600 881 0.0258 CR10-5 105 -- 110 970 0.0283 125 -- 135 548 0.0160 310 -- 325 631 0.0184 350 -- 355 534 0.0156 390 -- 395 483 0.0141 430 -- 440 591 0.0114 480 -- 485 713 0.0208 500 -- 515 444 0.0129 585 -- 595 872 0.0254 CR10-6 320 -- 325 433 0.0126 335 -- 340 406 0.0118 CR10-7 80 -- 100 3,988 0.1164 incl 95 -- 100 14,300 0.418 390 -- 405 575 0.0168 570 -- 575 422 0.0123 CR10-8 60 -- 65 1,585 0.0463 75 -- 80 479 0.0140 185 - 210 1,552 0.0484 365 -- 380 666 0.0195 515 -- 550 564 0.0164 560 -- 565 376 0.0110 CR10-9 75 -- 85 8,817 0.2575 (incl 75 -- 80 16,750 0.4891 180 -- 185 539 0.0157 385 -- 390 557 0.0162
The program was supervised and all samples were collected by Robert McCusker qualified person for NI43-101 and were fire assayed by ALS Chemex Labs using an AA finish.
For more information on the Robertson Property and Coral Gold's other Nevada projects, visit the company's 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 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.
CORAL HAS COMPLETED FOUR HOLES AT ROBERTSON PROPERTY, CRESCENT VALLEY, NEVADA
The drill program at Triplet Gulch, of 12 RC holes is currently continuing on schedule. Gold assay results will be available in the next 2-3 weeks. The four holes that have been drilled are located on the edges of the potential Triplet Gulch resource. Hole CR10-4, the latest hole completed, has significant oxidation extending to a depth of over 500 ft. For a map of the Triplet Gulch area please click here
The drill program is under the direction of Bob McCusker, a qualified person as defined by NI 43 -- 101, and will be completed during the last week of June with Au results expected by late July.
More results will be announced as soon as they are made available.
For more information on the Robertson Property and Coral Gold's other Nevada projects, visit the company's 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 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.
CORAL TO COMMENCE 2010 DRILLING PROGRAM AT ROBERTSON PROPERTY, CRESCENT VALLEY, NEVADA
The initial drill program at Triplet Gulch, of 12 RC holes will be drilled by Lang Division of Boart Longyear, is currently in progress and on schedule. The first hole was completed on Thursday June 3rd and the second hole is underway. For a map of the Triplet Gulch area please click here
Drilling began June 1st under the direction of Bob McCusker, a qualified person as defined by NI 43 -- 101, and will be completed during the last week of June with results expected in late July or early August.
Results will be announced as soon as they are made available.
For more information on the Robertson Property and Coral Gold's other Nevada projects, visit the company's 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 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.
CORAL SET TO COMMENCE DRILLING IN NEVADA
This 121 page amendment to the PoO when approved by the BLM and NDEP will permit Coral to drill 36 core holes and 22 Reverse Circulation (RC) holes on the Gold Pan, Porphyry, Altenburg Hill and Triplet Gulch Zones at the company's Robertson Property in Crescent Valley, Nevada.
The 36 core holes will allow comparison of assays from core with previous reverse circulation holes. They will also provide material for column leach tests (to establish leachability of the zones) and also specific gravity tests to accurately determine potentially mineable tonnages.
In addition Coral will drill a further 10 RC holes in the zone between Porphyry and Altenburg Hill in an effort to determine continuity between the zones. Coral will also drill 12 RC holes on the Triplet Gulch Zone.
The 36 core holes will be drilled by Major Drilling and the RC Holes by Lang Division of Boart Longyear. The program will be directed by Bob McCusker, qualified person as defined by N143-101. The metallurgical test program will be directed by Jasman Yee, Coral's metallurgical consultant, qualified person as defined by N143-101.
Beacon Hill Consultants (1988) Ltd. are currently updating the geostatistical computer block model by incorporating results from the 2008 reverse circulation drilling. The program of drilling and metallurgical test work planned for 2010 has been designed in consultation with Beacon Hill and is intended to increase confidence and develop greater continuity and potentially move part of the current inferred resource of 87 million tons grading 0.017 oz Au/ton (0.583 g/t) at a cut-off grade of 0.0106 opt for a total approximately 1.5 million ounces at Gold Pan, Porphyry and Altenburg Hill into the measured and indicated categories.
This resource of 87 million tons grading 0.017 opt (0.583 g/t) at a cut-off of 0.0106 opt is calculated from the shallow depth resources outlined in the October 9, 2009 news release, as follows:-
Summary of selected near-surface inferred resources at the Robertson Property:
ZONE SHORT TONS ORE GRADE, OZ AU/TON CONTAINED OZ Gold Pan oxide 12,566,599 0.020 251,332 Altenburg Hill oxide 12,873,976 0.015 195,684 Porphyry oxide 39,049,182 0.017 652,121 Porphyry sulfide 12,535,861 0.016 198,067 L. Triplet Gulch 9,993,131 0.021 208,585 Total 87,018,749 0.017 1,505,789
Note that the remaining deeper resources at Distal, 39A of 91,905,439 inferred tons (which together with the shallow resource of 87,018,749 tons total 178,924,188 tons) will not be evaluated by the 2010 program. The deeper resource will remain in the inferred category.
The first program of drilling 12 RC holes at Triplet Gulch is expected to start in the last week of May. The entire drill and metallurgical test work program will take the whole of 2010 and will result in a Preliminary Economic Assessment Report scheduled for Q2 of 2011.
This news release was prepared by Chris J. Sampson, P. Eng., Vice President Exploration Coral Gold in consultation with Garth Kirkham P. Geo. and Peter Stokes, P. Eng. of Beacon Hill Consultants (1988) Ltd. and Jasman Yee metallurgical consultant and Bob McCusker geological consultant.
Inferred Resources are considered too speculative geologically to have economic considerations applied to them. Inferred Resources require further exploration to upgrade them to the higher Measured and Indicated categories.
While the current work program is designed to upgrade the level of confidence in the oxide mineral resource base and provide the basis for a Preliminary Economic Assessment Report that determines or analyses economic viability, Coral cannot guarantee that additional drilling will upgrade Inferred Resources to a higher level of confidence.
For more information on the Robertson Property and Coral Gold's other Nevada projects, visit the company's 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 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.
CORAL GOLD CLOSES PRIVATE PLACEMENT -- FINAL CLOSING
The Company paid total finders' fees of $28,325 in cash and 19,000 in warrants to individuals and brokers assisting in the financing.
The finder's warrants will entitle the finders to purchase one additional common share with a term of one (1) year until April 23, 2011 at a price of $0.75.
The total gross proceeds raised, including the first closing, amounted to $3,849,999.90 and a total of 7,000,120 units have been issued.
The net proceeds of this Offering will be used to advance the Company's Robertson gold project at Crescent Valley, Nevada towards the work program announced on February 2, 2010 and general working capital requirements.
For more information on the Robertson Property and Coral Gold's other Nevada projects, visit the company's website at www.coralgold.com
ON BEHALF OF THE BOARD
"David Wolfin"
___________________________________
David Wolfin
President