One of the Region's Most Important Gold Targets
Robertson, recently purchased from Coral Gold by Barrick Gold with a royalty agreement (subject to satisfaction of the outstanding closing conditions),
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 25 years, Coral Gold and its various venture partners spent more than $25 million exploring the claims. This activity has led to the discovery of six mineralized zones: Porphyry, 39A, Gold Pan, Altenburg Hill, Distal and Triplet Gulch.
Here's what makes Robertson one of the regions prime targets for gold exploration:
- Large, strategically located claim block
- Inferred mineral resources of 2.7 million ounces
- Discovered Carlin-type gold mineralization in lower plate rocks north of Pipeline
- Preliminary Economic Assessment ("PEA") published in January 2012
- Moving towards pre-feasibility
- Qualified Person(s)
- Mr. Garth D. Kirkham, P.Geo., and Mr. Peter Stokes, P.Eng., of Beacon Hill Consultants (1988) Ltd. and Mr. Robert McCusker, Consultant Geologist and Project Manager are Qualified Persons in accordance with NI 43-101. Messrs Kirkham, Stokes and McCusker are independent consultants as defined by NI 43-101.
Deep Drilling Encounters Carlin-Type Structure with Gold
In 2006, a detailed exploration program of gravity surveys, geological mapping, rock chip and grid soil sampling, as well as re-interpretation of existing airborne magnetic was done. Following up on the results, 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 led 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 for a world-class gold deposit on the Robertson Core Claims. 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. </br>
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 that 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 inferred gold resource is 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 the 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 Core Claims in which one or more high-grade gold deposits, mineable from underground, might be discovered.
The Robertson claims host important structural and geochemical anomalies similar to "deep" gold discoveries at Cortez Hills, deep Pipeline and numerous other deposits along the Battle Mountain/Cortez and Carlin Trends. The anomalies include:
- Single to multiple dike-filled faults, locally mineralized and showing evidence of protracted episodic fault movements.
- Multiple intrusive events (Cretaceous-Late Eocene).
- Significant gold mineralization in the district (>1million ounces of gold), particularly in upper plate rocks that may represent leakage anomalies above a much larger deposit in lower plate rocks at depth.
- Intersecting major NNW- to NW-trending fault zones with NE-striking faults that contain geochemically anomalous gold: may be analogous with ore controlling structures that host high grade gold in recent deep discoveries.
- Large-scale anticlinal folds in lower plate carbonate rocks that acted as gold traps in the recent discoveries.
- On strike with favorable lower plate carbonate rocks that host recent discoveries 4 miles to the south.
Coral's projects are under the supervision of Chris Sampson, P.Eng, BSc, ARSM Coral Gold VP and Director, who is a qualified person within the context of National Instrument 43-101. Mr. Sampson has reviewed and approved the technical data herein.