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30 Jun 2008 10:11
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30thΒ June 2008
Persian Gold PLC
Highlights of the Chairman's Statement at the AGMΒ
Held inΒ LondonΒ June 30thΒ 2008
Persian Gold continues to build on itsΒ earlyΒ moverΒ advantage inΒ Iran.
The Tethyan Belt, which stretches fromΒ TurkeyΒ throughΒ IranΒ intoΒ PakistanΒ is one of the world's prime areas to discover large gold-copper porphyries. Persian Gold operates in this belt inΒ IranΒ - and has found significant positive geological evidence to supportΒ itsΒ prospectivity.
Persian Gold has four active projects with two others under evaluation.
TheΒ Chah-e-ZardΒ gold discovery has modelledΒ depositsΒ 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. IfΒ theΒ studyΒ is completedΒ on time andΒ isΒ positive, construction could begin in 2009 for early 2010 production.
We have started the next phase of drilling at ourΒ DalliΒ gold-copper discovery. Earlier drilling discoveredΒ potentialΒ commercial grades ofΒ copper and gold. The current drilling is to estimate the depth and lateral extension of mineralisation around theΒ South Hill whereΒ 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 volcanicsΒ atΒ DustbigluΒ 400 kilometres northwest ofΒ Tehran. We will begin a detailed rock chip and trench sampling programme to highlight gold values. This is a wholly owned Persian Gold project.
AtΒ TakestanΒ we await environmental permits to undertake the next stage of exploration.Β
As the only Western gold explorer active inΒ Iran, Persian Gold receives aΒ constantΒ flow of potential projects. Two such projects, both copper-gold porphyries, are currently underΒ evaluation.
We believe that the potential inΒ IranΒ is vast; for those who stay the course, the rewards may be substantial.
All resolutions were passed at the meeting.
Β Β
Enquiries:
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Persian Gold PLC |
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|
John Teeling, Executive Chairman |
+353 (0) 1 8332833 |
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CollegeΒ Hill |
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|
Nick Elwes |
+44 (0) 20 7457 2020 |
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Blue OarΒ Securities Plc |
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|
John Wakefield |
+44 (0) 1179 330 020 |
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