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Wednesday, 29th November 2006 (3441 views)

Irish gold mining company Persian Gold has struck it lucky in Iran with its first gold discovery in the Middle Eastern country.

Traces of gold were found in six of the 17 holes recently drilled at the Chah-e-Zard gold project in the central part of Iran, with mineralization in five, the company said.

One hole intersected 122 metres at 1.95 g/t, including ten metres at 13.6 g/t. Surface trenching at the site has also uncovered additional gold bearing structures.

John Teeling, chairman of Persian Gold, stated: "These initial drilling results are a good start to our scouting drill programme and show that the gold mineralisation, found on the surface, extends to significant depths."

But he added that whilst the results encouraging further work is required to determine the full potential of the project. "We await results from the remaining holes with interest," he said.

The Chah-e-Zard project is an advanced stage project with, according to Persian, strong surface gold values over a one square kilometre area of strongly altered volcanic rocks.

Persian is also carrying out another early stage gold project northwest of Tehran. Work at the Takestan project has so far revealed widespread indications of low-grade gold mineralisation.

 

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