Clontarf Regulatory News (CLON)

10 Jan 2008 07:00

Persian Gold PLC10 January 2008 10th January 2008 Persian Gold plc Positive drilling results at Dalli • Dalli drilling encounters strong copper-gold mineralisation. • Drill hole 2 contains 213m of 0.56% copper and 0.75g/t gold. • IP survey extends possible zone of mineralisation. Persian Gold (AIM:PNG),the Irish based Iranian gold explorer, is pleased toannounce positive assay results for drill holes 2 and 3 (DH-2 and DH-3) on theDalli project. Dalli is a copper gold porphyry prospect located 200 km southwestof Tehran. There are two targets within the project area termed the "South Hill"and the "North Hill". Dalli drill holes 1 and 2 are located on the South Hilland holes 3 and 4 are located on the North Hill. These two hills may representseparate porphyry copper-gold centres situated 1.5 km apart, or may be part ofone large deposit. Previously reported assay results for DH-1 in the South Hill indicatedcontinuous copper-gold mineralisation from the surface to 211 metres depthaveraging 0.48% copper and 0.68 g/t gold. Assay results for DH-2, which is located 85 metres north of DH-1 on the SouthHill, have now been received and show: Depth (m) Interval (m) Copper Gold0-213 213 0.57% 0.75 g/tIncluding: 66 1.08% 1.28g/t 16-82 These results extend the lateral continuity of mineralisation between holes 1and 2 in the South Hill area and confirm the presence of a gold-rich porphyrycopper system. Continuous mineralisation for over 200 metres is a very positiveindicator of a potentially significant copper - gold resource. Assay results for DH-3, which is located on the North Hill, have also beenreceived and include: Depth (m) Interval (m) Copper Gold0-233 233 0.12% 0.52 g/tIncluding: 40 0.17% 0.69 g/t 46-86 While the copper and gold results from this hole in the North Hill are lowergrade than those found in the South Hill, this is believed to represent aseparate and distinct porphyry deposit. Continuous copper and goldmineralisation from the surface to a depth of over 200 metres in DH-3 is a verypositive intercept for the initial drill hole in the North Hill. Assays resultsfor DH-4 are awaited. A surface IP (Induced Polarisation) geophysical survey has been completed overthe South and North Hill. It consists of six profiles of a total length of 2.64km. This IP survey has defined potential extensions to the zone of conductivesulphides, which correlate with the intercepts seen in the drilling. Thecombined results are being evaluated to plan for the next phase of drilling atDalli. John Teeling, Chairman of Persian Gold, commented; "These latest results from Dalli are very encouraging. We now have extensivemineralisation in holes 1.5 km apart. Porphyry deposits are the modern target ofchoice for large mining companies as they have multiple sources of revenue andtend to be large scale open cast low cost operations. Dalli fits this profile. Using these drill results and the IP survey we will take our explorationprogramme to the next level by determining the extent of the copper - goldsystem discovered." Information in this announcement relating to exploration results has beenreviewed by Mr. A. Babakhani, an independent geologist and consultant to PersianGold, 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 2020Nick 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