Persian Gold PLC
08 January 2008
8th January 2008
Persian Gold plc
Positive Results from Second Phase Trenching / Drilling at Chah-e-Zard
O Completion of 2nd stage of trenching / drilling
O Positive initial results
O Further results to be announced in near future
Persian Gold (AIM: PNG), the Irish based Iranian gold explorer, is pleased to
announce that the second phase of trenching and drilling in the Southern Gold
Zone of the Chah-e-Zard project has been completed. The Chah-e-Zard gold
project is located near the city of Yazd in central Iran. Persian Gold has
previously announced diamond drill intercepts of 122 metres of 1.95 g/t Gold and
40 metres of 1.24 g/t Gold from holes ZDH-3 and ZDH-1 respectively. Both of
these holes, from the first phase of drilling, were located in the southern zone
of the prospect.
The second phase of exploration work, focused on this zone, consisted of
trenching and drilling to delineate near surface oxide gold mineralization for
potential future open pit mining.
A total of 25 trenches for a distance of 1,513 metres were completed. The
trenches are approximately 50 to 100 metres long, one metre wide and excavated
to a depth of 0.5 to 2.0 metres. A total of 596 samples from the trenches were
collected.
Twenty-two diamond drill holes have now been completed for a total of 1,693
metres. These holes were drilled to an average depth of 60 to 80 metres. A
total of 1,554 samples were taken.
All 2,150 samples from the trenches and drill holes have been delivered to the
sample preparation lab in Tehran. Initial results for the first 410 trench
samples have been received from OMAC labs in Ireland and include gold intercepts
of:
O 61 metres at 5.13 g/t (including 18 metres at 11.54 g/t and 10 metres at
5.17 g/t)
O 10 metres at 4.98 g/t
O 8 metres at 2.29 g/t.
Trenching has confirmed that within the phreatic breccia zone, the gold
mineralization correlates with the hydrothermal breccias that are strongly
silicified and structurally controlled. The contact between the mineralised
zone and phreatic breccia is sharp. The drill core indicates a series of
steeply dipping silicified structures, which are thought to represent the main
mineralized component of this gold system.
Further trench results and the drilling results are expected in the near future.
Commenting on these results, John Teeling, Chairman of Persian Gold, stated:
'These results are very positive and demonstrate that a near surface oxide gold
deposit is present in the southern area. If the 22 holes drilled confirm the
presence of commercial gold at depth, we will move to pre-feasibility stage.'
Information in this announcement relating to exploration results has been
reviewed by Mr. A.Babakhani, an independent geologist and consultant to Persian
Gold, who is a qualified person under AIM guidelines.
Contacts:
Persian Gold Plc
John Teeling +353 1 833 2833
College Hill
Paddy Blewer +44 (0) 20 7457 2020
Nick Elwes +44 (0) 20 7457 2020
Blue Oar Securities
John Wakefield +44 (0) 117 933 0020
Simon Moynagh +44 (0) 117 933 0020
www.persiangoldplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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