Apr. 26, 2010 (TheNewswire.ca) --
www.PinnacleDigest.com / Delta, BC
Every true investor is looking for a gold equity to capitalize on the current and future bull market in gold. With that stated, our team has selected a very well established company, which has been around for more than 25 years, as our new Featured Gold Company. This is a gold company whose flagship asset is located in one of the most prolific and politically stable mining regions on earth - the Cortez Gold (OOTC:CRTZF) (TSXV:CUT) Trend of Nevada. This company is also partnered with a major who is the largest gold producer in the world. Its flagship project is adjacent to Barrick's Pipeline Gold Mine (currently in production) which, including past production, contained 38 million ounces. The proximity and infrastructure related to being this close to a world famous mine gives our new Featured Gold Company a distinct advantage over many juniors hoping for a shot at production or a potential future buyout. With 3.4 million ounces of gold, and a market cap of less than $20 million, we are not selecting this company because of what they might achieve, but because of what they already have.
It is with great pride that we introduce Coral Gold (CLH:TSXV)(CLHRF:OTCBB) as our new Featured Gold Company of 2010.
Coral Gold's flagship asset is its 100% owned Robertson Gold Project and to put it simply, it is a massive, advanced stage gold exploration project. So big in fact, that Coral owns the largest gold resource (OTCBB:GORO) we have ever featured at Pinnacle.
The Robertson Gold Project contains a large, near surface gold resource of 3.4 million ounces...and counting. It is fully 43-101 compliant and calculated on a modest basis of US $850 gold and recoveries of 70%.
Robertson is located along the prolific Battle Mountain/Cortez Gold trend in north-central Nevada. Over the past 20 years, Coral Gold and its various venture partners have spent more than $25 million exploring the claims. 1100 drill holes and 500,000 ft of drilling have been completed. When we said we were bringing forward an advanced staged gold project, we meant it.
The significant money spent and work completed on the property to date has led to the discovery of several mineralized zones at Robertson: Distal, 39A, South Zone, Outside, Gold Pan Oxide, Altenburg Hill Oxide, Porphyry Oxide, Gold Pan Sulphide, Altenburg Hill Sulphide and Porphyry Sulphide.
Aside from the tremendous size of Coral's Robertson Gold Project, there were many factors which influenced our decision in selecting them as our new Featured Company; the most important being the location of Coral's Robertson Gold Project. As our long time members know, we like to buy junior miners residing near a producing major and Coral is no exception.
Coral's Robertson Gold Project adjoins Barrick Gold (NYSE:ABX) (TSX:ABX) Mines' Cortez Mine (aka Pipeline Mine), one of the lowest cost gold producers in Nevada and viewed by many as one of North America's premier gold operations. The entire Cortez property is expected to produce between 1.08-1.12 million ounces at total cash costs of $295-$315 per ounce in 2010. The Pipeline open pit at Cortez is just a half mile south of Coral's Robertson Gold Project in Crescent Valley. Barrick recently reported remaining proven and probable reserves at Cortez (Pipeline Mine) of 14.1 million ounces of gold.
The Pipeline Mine was the world's lowest-cost producer when it opened in 1997- it produced for as low as $38 an ounce. Furthermore, it produced 1 million ounces annually for several years. This was, and still is, a behemoth of a project. Including past production it contained 38 million ounces of gold! This sheds light not only on this particular gold trend, but also on the role of Coral Gold within this resource-rich region.
The following key elements make the Robertson Gold Project one of this prolific region's (Cortez gold trend) prime targets for gold exploration:
To read Pinnacle Digest's entire research report with more analysis on Coral Gold Resources (OTCBB:CLHRF) (TSXV:CLH) , visit the link below:
http://www.pinnacledigest.com/articles/vol.-165-have-we-found-buyout-candidate%E2%80%8F-intro-coral-gold-resources
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PinnacleDigest.com, has been paid fourty thousand Canadian dollars plus gst for advertisement coverage on Coral Gold Resources Ltd. The company (Coral Gold Resources Ltd.) has paid for this service. The service includes but is not limited to the creation and distribution of reports authored by PinnacleDigest.com about Coral Gold Resources Ltd. PinnacleDigest.com officers and directors have subscribed to Coral Gold's recently announced Private Placement. We have purchased 36,000 units (the "Units") at a price of $0.55 per unit. Each Unit is comprised of one common share and one non-transferrable share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share at a price of $0.75 with a term of two (2) years until April 1, 2012. We intend to sell every share we have purchased (and may purchase in the future) of Coral Gold for our own profit. We may sell all of our shares without notice to our subscribers. We may purchase more shares in Coral Gold without notice to our subscribers.
The clients represented by PinnacleDigest.com are typically development-stage companies that pose a much higher risk to investors. When investing in speculative stocks of this nature, it is possible to lose your entire investment over time. Statements included may contain forward looking statements, including the Company's intentions, forecasts, plans or other matters that haven't yet occurred. Such statements involve a number of risks and uncertainties. Further information on potential factors that may affect, delay or prevent such forward looking statements from coming to fruition can be found in their specific Financial reports.
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