Mr. David Wolfin reports
CORAL GOLD ANNOUNCES BARRICK DRILL RESULTS FROM 2014 GOLD RIDGE PROPERTY EXPLORATION PROGRAM, NEVADA
Coral Gold Resources Ltd. has released the results of a drilling program conducted by Barrick Exploration Inc. on the Gold Ridge project located in Lander county, Nevada, United States. The Gold Ridge project area comprises 107 unpatented lode claims located along the westernmost portion of the Robertson claim block. The information in this press release relates to exploration data provided to Coral by Barrick, but does not reflect Barrick's interpretation, assessment or characterization of the data. The geologic interpretations, assessments and characterizations in this press release are solely those of Coral and should not be attributed to Barrick.
The purpose of the 2014 drilling at Gold Ridge was to test a strong surface gold (up to 9.4 parts per million) and Carlin-type trace element anomaly located 4.5 kilometres north of the Pipeline mine. It was proposed that this anomaly (Ridge anomaly), defined by soil and rock chip samples, represented the surface expression of a Carlin-type system hosted by favourable carbonate rocks in the lower plate of the Roberts Mountains thrust fault. The second was a structural target defined by intersecting sets of west-northwest- and north-northwest-striking dikes and a surface gold anomaly (up to 6.06 ppm), located 1.5 km west of the Tenabo granodiorite stock.
Three vertical diamond core holes, RGR-0001D through RGR-0003D, were completed to depths of between 955 metres and 1,255 m, for a total of 3,191 m. Selected analytical results for the three holes are reported in the table.
Two holes, RGR-0001D and RGR-0003D, were designed to test the Ridge anomaly. RGR-0001D was collared on Gold Ridge along the north edge of a significant surface rock-chip and soil anomaly (Ridge anomaly) and drilled to a depth of 981 m. RGR-0003D was offset 451 m southwest of RGR-0001D and completed to a depth of 955 m. Both holes returned scattered anomalous gold values up to 0.698 ppm and 0.573 ppm, respectively, along with several narrow intervals exhibiting Carlin-type geochemical signatures. The holes encountered a mostly siliciclastic sequence dominated by mudstone and chert, and disrupted by major west-dipping thrust faults in the upper 450 m. All of the intervals exhibiting a Carlin-type geochemistry are spatially associated with thrust faults. Neither hole intersected significant gold values or lower plate carbonate rocks.
Hole RGR-0002D was collared about 1.6 km north of RGR-0001D and 1.16 km south of TV07-2, a deep hole drilled by Coral in 2007. The hole was drilled to a depth of 1,255 m and was located near the structural intersection between west-northwest- and north-west-striking dike swarms. RGR-0002 encountered a significant number of anomalous gold intercepts including one five-foot-thick interval that returned 36.3 ppm (1.06 ounces per ton Au). Most of the higher-grade Au values (greater than 0.34 ppm), including the high-grade intercept, are hosted by retrograde-altered calc-silicate hornfels replacing calcareous strata of the Ordovician Valmy formation. Accompanying gold are anomalous levels of selenium (up to 35 ppm), bismuth (up to 114 ppm), tellurium (up to 34.8 ppm), cobalt (up to 119.5 ppm), as well as silver (62.9 ppm), copper (6,490) and arsenic (978 ppm). The strong association of gold in RGR-0002D with zones of retrograde-altered hornfels, as well as the overall metal association (Au-As-Cu, iron, Bi-Se-Te, Co and Ag) is strongly suggestive of distal skarn-type mineralization. The upper 900 m of RGR-0002D is dominated by an interbedded sequence of mudstone, chert and minor limestone intruded by numerous dikes ranging from granodiorite to rhyolite. Beginning at a depth of about 1,067 m and continuing to at least 1,130 m, RGR-0002D encountered a major shear zone interpreted to be the Roberts Mountains thrust fault. From about 1,090 m, rocks within the shear zone become increasingly calcareous and are thought to represent lower plate carbonate rocks. This interpretation is supported by a single conodont fossil age determination.
ANALYTICAL RESULTS FOR SELECTED INTERVALS
Hole From To Length Au Ag As Sb Hg Tl Cu Pb Zn
(m) (m) (m) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm)
RGR-0001D 1.6 4 2.4 0.259 1.24 677 35.8 0.89 0.25 39.1 16.3 137
10.1 11.6 1.5 0.504 1.39 341 132 7.07 0.64 26.2 18.2 35
673 681.4 8.4 0.343 2.25 962 7.3 0.096 0.23 141 18.9 222
931.4 932.4 1.1 0.625 13.4 830 30.5 0.59 0.83 215 3,170 4,910
942.1 943.7 1.6 0.541 1.84 1.7 2.2 0.02 0.23 848 68 225
RGR-0002D 185.4 186.9 1.5 3.8 2.59 5,320 43.2 0.32 0.72 112 82 598
638.72 644.82 6.1 10.71 1.67 13.86 1.48 0.01 0.17 231 21 155
Including 643.29 644.82 1.53 36.3 2.58 1.4 1.21 0.038 0.11 171 61.1 45
650.9 658.5 7.6 0.168 16.31 83.6 3.46 0.035 1.02 1,971 36.7 156
780.5 783.5 3 1.5 1.74 24 1.5 0.008 1.1 491 18.8 53
910.1 913.1 3 1.32 1.24 1,265 6.7 0.014 1.8 263 13.4 295
1,057.8 1,070.1 12.3 0.306 2.66 1,019 2.71 0.12 0.96 573 15.7 117
1,109.8 1,114.3 4.6 0.363 0.38 961 2.04 0.007 1.56 34.6 13.7 76.3
RGR-0003D 377.4 417.1 39.6 0.079 0.79 230 23.3 0.37 1.44 36 14.9 96
Including 395.6 414.0 18.4 0.046 0.33 465 49.2 0.8 1.93 35.8 6.6 57
578.7 584.8 6.1 0.19 0.73 48 3.5 0.007 1.13 214 11.3 175
The sample preparation, gold assays and multielement analyses were done by ALS Minerals. Gold assays were by inductively coupled plasma with atomic emission spectroscopy. This analytical method has a 0.001 ppm lower limit of detection. Samples with gold values exceeding 10.0 ppm were assayed using gravimetric determinations. Multielement analyses were by four-acid digestion of samples followed by mass spectroscopy determinations.
Qualified person
Coral's projects are under the supervision of Chris Sampson, PEng, Coral vice-president and a director, who is a qualified person within the context of National Instrument 43-101. Mr. Sampson has reviewed and approved the technical data herein.
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