Hi
Cold calling is normally used in marketing and refers to meeting up with a new prospect without a prior appointment or trying to fix up an appointment with a new prospect at random and with little or no reference from anyone. In a limited way, if you have access to bio data that broadly meets a client specification and you call up the candidate and inquiry if / she is interested in the opening, it can be termed cold calling.
Head Hunting on the other hand refers to to the systematic and targeted identification of a candidate, who perhaps has special skill sets or the appropriate academics and experience. This is normally done for very senior level positions and often involves trying to poach or lure a candidate from a competitor, with the offer of a much better pay, perks, designation and job profile.
Trust I have clarified the terms to your satisfaction.
Jacob
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