The program was designed to advance to property's potential for discovery by detecting leakage halos in the upper plate chert, shale, and sandstone from deeper mineralization in the lower plate carbonates or intrusive related type mineralization in the upper plate rocks.
In
This survey was to follow up on a previous (1995) survey soil survey that covered a portion of the property. Historic results showed anomalous arsenic, antimony, and silver in some areas. The analytical method for the historic survey had a detection level for gold of 2 parts per million (ppm); much higher than modern techniques and inadequate to detect the low-level leakage type mineralization targeted in the current survey.
About the JDN Property
Coral's JDN property is comprised of 27 claims totalling 560 acres on the Cortez trend in North Central Nevada. The property is located approximately 10 KM North-North-West of
The Hilltop project has been drilled by Barrick who successfully outlined a body of epithermal, intrusive-related gold mineralization, Barrick reports that there is still potential to expand the target as it remains open in several directions. The next steps are to complete fill-in drilling for grade continuity, metallurgical test-work for recovery process options and extension drilling to expand the mineralization wit the objective of establishing a reportable Mineral Resource at Hilltop.
Geologically, the JDN property is underlain by the same formations that host the Hilltop deposits. Drilling in 1996 encountered gold values of 0.057 oz Au/ton at 170 - 180' depth, along with associated strong lead, copper and arsenic values. This structure represents a significant target for further exploration both along strike and at depth. In addition, I.P. geophysics on the JDN have successfully delineated structures and zones of strong chargeability. Further geophysics, followed by reverse circulation drilling, have been recommended.
About
This release contains statements that are forward-looking statements and are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. 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.
Contact:
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Fax: (604) 682-3600
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