Amax continues work on Coral Gold claims

A unit of Amax Gold (NYSE) will carry out a third phase of exploration on the Robertson gold project in Nevada’s Crescent Valley.

Amax has one more year to explore the property and complete a bankable feasibility to earn a 60% interest from Coral Gold (VSE).

The program will focus on the Porphyry zone, a potential open-pit, heap-leach deposit four miles northeast of Placer Dome’s Pipeline and South Pipeline gold deposits.

Near the end of 1992, a geological resource of 20 million tons, grading 0.036 oz. gold per ton, was identified.