Clontarf Regulatory News (CLON)

30 Jun 2008 10:11



30th June 2008

Persian Gold PLC

Highlights of the Chairman's Statement at the AGM 

Held in London June 30th 2008

Persian Gold continues to build on its early mover advantage in Iran.

The Tethyan Belt, which stretches from Turkey through Iran into Pakistan is one of the world's prime areas to discover large gold-copper porphyries. Persian Gold operates in this belt in Iran - and has found significant positive geological evidence to support its prospectivity.

Persian Gold has four active projects with two others under evaluation.

The Chah-e-Zard gold discovery has modelled deposits of 160,000 ounces of gold and over 1 million ounces of silver. We hope to begin a scoping study on an open cast mine once our Joint Venture (70% Persian Gold) is ratified and a Discovery Certificate issued. If the study is completed on time and is positive, construction could begin in 2009 for early 2010 production.

We have started the next phase of drilling at our Dalli gold-copper discovery. Earlier drilling discovered potential commercial grades of copper and gold. The current drilling is to estimate the depth and lateral extension of mineralisation around the South Hill where the best grades were found. Persian Gold holds an option on 70 percent.

Persian Gold has identified an area of 10 square kilometres of strongly altered silica volcanics at Dustbiglu 400 kilometres northwest of Tehran. We will begin a detailed rock chip and trench sampling programme to highlight gold values. This is a wholly owned Persian Gold project.

At Takestan we await environmental permits to undertake the next stage of exploration. 

As the only Western gold explorer active in Iran, Persian Gold receives a constant flow of potential projects. Two such projects, both copper-gold porphyries, are currently under evaluation.

We believe that the potential in Iran is vast; for those who stay the course, the rewards may be substantial.

All resolutions were passed at the meeting.

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