President Louis Wolfin told The Northern Miner that the listing will make Coral more accessible to investors now that the company’s Robertson mine in Nevada is producing.
The Robertson mine is the most promising property of Coral’s holdings that include 48,000 acres of claims in the Battle Mountain and Carlin areas of north central Nevada. The open pit, heap leach mine is processing 2,000 tons ore per day and producing 300 oz gold per week. A second heap leach pad is being constructed which will double the mine’s output. By year-end, Coral hopes to produce 40,000 oz gold on an annualized basis.
While the surface operation produces, the company continues to drill with the hope of finding a suspected deep sulphide ore deposit along the lines of the Newmont and Echo Gold deposits nearby.
Coral also has a 50/50 partnership with Levon Resources (TSE) in 60% of Love Oil’s property in the Bridge River district of British Columbia. The claims are adjacent to the former Bralorne mine which closed in 1971. More than four million oz of gold were extracted from the Bralorne and nearby Pioneer mines between 1897 and 1971. Wolfin said that new exploration and mining techniques may make the area profitable once again.
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