EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1
CORAL GOLD RESOURCES LTD.
Suite 400 - 455 Granville Street
Vancouver, BC V6C 1T1
Ph: (604) 682-3701; Fax: (604) 682-3600
 www.coralgold.com
ir@coralgold.com

December 13, 2006
Trading Symbols: TSX Venture - CGR
US;OTC.BB - CGREF
Berlin and Frankfurt - GV8

CORAL COMPLETES PHASE II DRILLING AT ROBERTSON

VANCOUVER, BC - Coral Gold Resources President Louis Wolfin reported today the company has completed Phase II drilling at its Robertson Property on the Cortez Gold Trend, Lander County, Nevada. The Phase I and Phase II programs in 2006 totaled 35,615 ft of reverse circulation (RC) drilling in 46 holes. Depths ranged from 450 ft to 1,500 ft. Due to the relatively flat-lying nature of mineralization at Robertson, all holes were drilled vertically.

Our primary objective in 2006 was to expand the Robertson’s current resource and move more of the inferred resource into the measured and indicated categories. Based on the results to date, we believe both objectives have been met. Updated resource figures will be announced as soon as calculations are complete.

To view a map of the areas drilled on the Robertson Property in 2006, please go to: www.coralgold.com/RobertsonPhaseIIDrilling.pdf.

Coral Gold’s objectives for Phase II were:

1.    
Distal Zone: Offset existing mineralized drill intersections in the inferred mineral resource (estimated at 1.0 million short tons averaging 0.178 using a 0.05 oz Au/t cutoff grade).

2.    
39A Zone: Test the northern and western extent of the indicated mineral resource (estimated to be 10.2 million short tons averaging 0.044 oz Au/t at a 0.015 oz Au/t cutoff grade).

3.    
Porphyry Zone: Test the potential northeast extension of the Porphyry Zone.

4.    
Altenburg Hill/Porphyry Zone: Test the northeast flank of the Altenburg Hill and southwest end of the Porphyry Zone mineral resources for extensions of near-surface oxide mineralization.

Distal Zone
The Distal Target remains open for further expansion to the north, south and west.
Mineralization in the Distal Target is now defined by 10 RC holes. Based on this drilling, the zone appears to be a north-south to NNW-trending, flat-lying tabular zone consisting of at least two distinct sub-zones, which together range from 75 to 150 feet thick. Drilling also provides additional support for continuity of grade and thickness of mineralization between holes at a drill spacing of approximately 200 feet.


Distal Target Assay Results

Hole No.
Hole Depth
From(ft)
To(ft)
Thickness(ft)
Gold, oz/ton
CR06-16
1,200
955
965
10
0.155¹
   
990
1,055
65
0.085¹
   
990
1,035
55
0.097²
including
  
1,005
1,035
30
0.115
           
CR06-17
1,245
950
975
25
0.065¹
including
  
950
960
10
0.118²
   
1,010
1,060
50
0.035¹
           
CR06-18
1,200
890
965
75
0.107¹
   
890
955
65
0.120²
including
  
890
930
40
0.145
   
980
1,045
65
0.081¹
   
1,010
1,045
35
0.168²
including
  
1,030
1,045
15
0.183
           
CR06-19
1,185
No Significant Values
    
           
CR06-20
1,500
705
725
20
0.014
   
735
745
10
0.048
   
895
905
10
0.016
   
995
1,040
45
0.052¹
   
995
1,025
30
0.065²
   
1,065
1,095
30
0.118¹
   
1,070
1,090
20
0.163²
including
  
1,070
1,085
15
0.196
___________________
(1) Grade and thickness calculated using a 0.02 oz Au/t cutoff grade.
(2) Grade and thickness calculated using a 0.05 oz Au/t cutoff grade.

North 39A Zone
Previous drilling at the north end of the 39A Zone included hole CR05-8, which intersected 120 ft averaging 0.05 oz Au/t from 785 ft, at a 0.01 cutoff grade including 20 ft that averaged 0.181 oz Au/t from 785 ft. This intercept suggested potential for expansion to the north. Holes CR06-22 and -24 were step-out holes from CR05-8 of 500 ft to the north-northeast and 400 ft to the east-northeast, respectively. Both holes returned only scattered narrow intervals of low to moderate gold values. CR06-26 was collared 210 ft east of CR05-8 and encountered 120 ft that averaged 0.065 oz Au/t from 785 ft., including 75 ft averaging 0.107 oz Au/t starting at 825 ft. This hole encountered strong retrograde alteration starting at 740 ft that continued to 850 ft. CR06-27 and -28 are located 200 ft northeast and north of CR05-8, respectively. Both holes also encountered strong retrograde alteration, but cut only scattered narrow zones containing low to moderate gold values. These holes, together with CR06-22, -24 and -25, have effectively limited the potential to significantly expand the resource to the north and northeast. However, the zone remains open toward existing hole AT-1, located 500 ft to the southeast.

Drilling along the northwest edge of the 39A zone was intended to test for a possible southwest extension of the north 39A Zone. Two holes, CR06-21 and -23 were collared 400 ft and 200 ft west of CR06-13, respectively. Neither hole encountered 39A Zone mineralization, indicating that the zone appears to stops abruptly along the northwest.


North 39A Zone Assay Results¹

Hole No.
Hole Depth
From(ft)
To(ft)
Thickness(ft)
Gold, oz/ton
CR06-21
1,000
30
40
10
0.011
   
195
200
5
0.145
   
255
265
10
0.018
   
290
320
30
0.025
   
400
470
70
0.024
           
CR06-22
1,200
250
260
10
0.019
   
425
440
15
0.055
   
480
490
10
0.046
   
620
630
10
0.035
   
675
695
20
0.014
   
735
765
30
0.025
   
810
825
15
0.017
   
930
950
20
0.057
   
965
970
5
0.140
           
CR06-23
1,000
10
20
10
0.033
   
170
185
15
0.018
   
220
230
10
0.010
   
255
280
25
0.019
   
320
335
15
0.021
   
400
425
25
0.067
including
  
420
425
5
0.203
           
CR06-24
1,200
280
345
60
0.031
   
360
390
30
0.027
   
415
445
30
0.014
   
495
500
5
0.175
   
740
755
15
0.021
   
770
785
15
0.013
   
880
920
40
0.055
including
  
890
895
5
0.252
   
965
975
10
0.016
   
990
1,005
15
0.016
   
1,035
1,045
10
0.013
   
1,065
1,080
20
0.050
   
1,105
1,200
95
0.019
           
CR06-25
1,000
100
110
10
0.019
   
345
370
25
0.028
   
395
415
20
0.024
   
535
545
10
0.151
including
  
535
540
5
0.287
   
575
585
10
0.077
   
620
650
30
0.016
   
725
735
10
0.029
   
775
800
25
0.017
   
965
980
15
0.191
including
  
975
980
5
0.527
           
CR06-26
1,200
345
370
25
0.026
   
475
490
15
0.027
   
785
905
120
0.065
including
  
825
900
75
0.107
 
 
 
 
 
CR06-27
  
245
270
25
0.017
   
325
330
5
0.187
   
365
380
15
0.016
   
435
450
15
0.055
Including
  
435
440
5
0.141
   
575
610
35
0.013
   
840
875
35
0.022
   
995
1,070
75
0.017
           
CR06-28
  
315
355
40
0.039
including
  
320
325
5
0.201
   
465
495
30
0.025
   
510
585
75
0.019
   
965
990
25
0.038

(1)    Grade and thickness calculated using a 0.01 oz Au/t cutoff grade.
 
Altenburg Hill/Porphyry Zone Extension
A total of 13 RC holes, CR06-29 through CR06-41, have been completed in the area between the south end of the defined Porphyry Zone measured + indicated mineral resource and the northeast flank of Altenburg Hill. Assay results for these holes are pending. Previous grid drilling by Amax on Altenburg Hill in 1996, defined a low-grade inferred mineral resource estimated to contain 3.5 million short tons that averaged 0.018 oz Au/t, which appears to extend beyond the existing drill grid on the northeast flank of Altenburg Hill. In addition, no drilling had been undertaken in the alluvial covered area between the two resources, a distance of 1,500 ft. In most holes, surficial oxidation reaches at least 500-ft-deep.

NE Extension of the Porphyry Zone
Six holes were drilled in the Porphyry Zone measured + indicated mineral resource to test the potential for expansion the northeast. Assays results for all of the holes are pending. Previous drilling in this area by Amax Gold (hole AT-261) identified a northeast striking structural zone that included 55 ft averaging 0.025 oz Au/t from 180 ft, followed by 25 ft averaging 0.094 oz Au/t from 430 ft, including 10 ft averaging 0.180 oz Au/t at 445 ft. No offset drilling has been conducted in this area.

Drilling and Analytical
The drilling contractor for both Phase I and Phase II drilling was Lang Exploratory Drilling of Elko, NV, a subsidiary of Boart Longyear, Inc. and a highly experienced drilling company specializing in reverse circulation drilling. All holes exceeding a depth of 500 ft had down-the-hole gyroscopic directional surveys completed by International Directional Services of Elko, NV, which measure both horizontal and vertical deflection in the drill holes. Drill hole collars were surveyed by a professional land surveyor licensed by the State of Nevada and employed by Desert Mountain Surveying of Winnemucca, NV. The surveyed collars were tied to the existing local survey grid.

Coral employed ALS Chemex as its primary assay lab, with sample prep facilities in Elko and Winnemucca, NV, and with analytical laboratories in Reno NV (USA) and Vancouver, B.C., Canada. Both ALS Chemex labs are QMI registered to ISO 9001-2000 and the Vancouver lab is accredited by the Standards Council of Canada based on ISO 17025. The sample preparation protocol and analytical procedures employed by ALS Chemex meet current industry standard practices.

Coral employed a QA/QC program which included submitting “blind” coarse blank (<0.005 ppm Au), and very low-grade (0.005 ppm to 0.025 ppm Au) material, rig duplicates and certified reference material (50 gram pulps) into the sample stream. All reference materials, except the 50 gram pulps, were pre-numbered in sequence with the drill samples and submitted blind to the labs without unique identifiers. The sample security measures and QA/QC program employed by Coral on this project meet current industry standard practices.

Drilling operations during Phase 1 and Phase 2 drilling were directly supervised by R. T. McCusker, a Qualified Person pursuant to NI 43-101.

On Behalf of the Board

“Louis Wolfin”
Louis Wolfin
President

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