Vancouver-based Coral Gold Corp. (VSE) has attained gold producer status at its Robertson property in Nevada.
The company poured the first 265-oz gold bar recently and with its 1.4 million ton Gold Pan/Gold Quartz leach pad now up and running Coral plans to produce about 50,000 oz of the yellow metal in 1989.
Comprised of about 6,000 acres, the Robertson property is located about 35 miles southeast of Battle Mountain.
As reported (N.M., May 30/88), total proven and probable reserves stand at 11 million tons of grade 0.04 oz gold per ton but initial production will come from the Gold Quartz West zone where grades average 0.068 oz.
When the company receives permission to bring on a second leach pad, it will accelerate its production rate to about 100,000 oz in 1990, spokesman Jim Baylis told The Northern Miner recently.
He predicted that work on a new “Triplet Gulch” pad won’t begin until early next spring.
Meanwhile, Coral is producing gold at a rate of about 300 oz weekly. The company is also involved in exploration on a number of other properties including the 550-acre Colorback property three miles north of Robertson and the 1,560- acre Modoc prospect three miles from Battle Mountain’s Fortitude gold mine.
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