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| |  One of the Region's Most Important Gold Targets
Robertson is an advanced-staged exploration project located along the Battle Mountain/Cortez Gold trend in north-central Nevada and immediately adjacent to the Pipeline gold mine. Over the past 20 years, Coral Gold and its various venture partners have spent more than $25 million exploring the claims. This activity has led to discovery of five mineralized zones: Porphyry, 39A, Gold Pan, Altenburg Hill and Distal.
The following key elements make Robertson one of the regions prime targets for gold exploration:
Gold Zones Continue to Expand; Resource Increased to 3.4 Million Ounces Exploratory drilling conducted by Coral Gold between 2004 and 2008 significantly expanded the Robertson gold resources to over 3.4 million ounces (based on gold at $600 per ounce). These figures were revised in October 2009 by Beacon Hill Consultants (1988) Ltd. to reflect a more realistic gold price of $850 per ounce. The result was a 47% increase to 3.4 million ounces. The updated figures are summarized below (revised from Mineral Resource Estimate for the Robertson Property, Lander County, Nevada USA, January 2008).
2008 Drilling Extends Areas of Mineralization In 2008 Coral Gold completed 22,385 feet of reverse circulation drilling in 33 vertical holes, partially extending the areas of mineralization in several zones. Highlights of the drill program included Hole #CR08-13, which intersected 100 feet grading 0.075 oz Au/ton and included 25 feet grading 0.17 oz Au/ton. Complete drill results and program details are available in the company's release dated February 4, 2009. The 2008 drilling has not yet been incorporated in our current resource figures. Deep Drilling Encounters Carlin-Type Structure with Gold Deep drilling in 2007 encountered Carlin-type geochemistry including gold in the important lower plate host rocks for Carlin-type structure beneath the Roberts Mountains thrust fault. The gold intercepts indicate a Carlin-type system in Lower Plate rocks on a western part of the property. Follow-up mapping, rock sampling and infill gravity surveys in 2008 lead to identification of a new lower plate target zone that extends from the coral deep hole 2 km to the south. The West Deep Carlin-type target adds significant discovery potential to the Robertson property for a world-class gold deposit. The target zone lies north of the Pipeline open pit along a projected mineralized fault and fracture system that controls gold within that deposit. Considerably more drilling on the Robertson West Deep target is warranted. While Coral would prefer to continue drilling and expanding these targets in 2009, management is waiting to see how equity markets unfold regarding our ability to raise additional exploration capital. Deep Pipeline-Type Mineralization While expanding the shallow resources in 2006, Coral Gold also completed an exploration program of detailed gravity, geological mapping, rock chip and grid soil sampling, and re-interpretation of existing airborne magnetics. The exploration results identified a number of important structural and geochemical anomalies similar to those over recent "deep" gold discoveries at Cortez Hills, deep Pipeline and numerous other deposits along the Battle Mountain/Cortez and Carlin Trends. The anomalies include:
Geology Robertson lies along the far eastern flank of the Northern Shoshone Mountains in north-central Nevada within the Basin and Range physiographic province of western North America. The region lies at or very near the rifted margin of continental crust which was subjected to periodic thrust faulting starting in Middle Paleozoic and continuing until Late Cretaceous. The most important of these events affecting the region is a complex set of branching, low-angle faults that are part of the Roberts Mountains thrust fault system. The upper plate of this regional structure is a series of thick, complexly faulted dark-gray, fine-grained siliceous sedimentary and lesser submarine volcanic rocks of early to middle Paleozoic age. While siliceous rocks of the upper plate are widespread in the region, carbonate rocks of the lower plate are comparatively rare and are exposed in a few "structural windows" such as the Gold Acres and Cortez windows that contain most of Barrick's gold mines along the Cortez Trend. At Robertson the +2 million ounce inferred gold resources are hosted in upper plate rocks in close proximity to Tertiary-age (Eocene-Oligocene) intrusive rocks. In Nevada, emplacement of intrusive rocks is often controlled by anticlinal folds and faults developed in the lower plate. Together, these features provide a complex set of pathways for migrating gold-bearing fluids that ultimately formed the shallow gold resources at Robertson. These same resources might also be considered major "leakage" anomalies above possible gold mineralization hosted in lower plate rocks. This interpretation represents a lower Cortez Hills-type target concept for the Robertson Property in which one or more high-grade gold deposits, mineable from underground, might be discovered.
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