Clontarf Regulatory News (CLON)

10 Oct 2005 07:00

Persian Gold PLC10 October 2005 Positive Gold Results from Sampling at Twin Hills in Iran Persian Gold plc (AIM: PNG), which is exploring for gold in Northwestern Iran,announces an update on the second phase of geochemical sampling at the TwinHills prospect located within one of the Company's eight exploration licencesnear Takestan in Northwestern Iran. Twin Hills is located within a very large alunite alteration zone which wasidentified as gold bearing from the first phase of sampling in early 2005. Over100 targeted additional geochemical samples were taken which have confirmed andenlarged the gold zone. The bulk of the samples contained gold values. Eighteen samples, located over an area of one square kilometre, have returnedvalues of between 100 to 800 ppb* which is highly anomalous in quartz-alunitesystems. Some of the world's largest gold mines of this type extract gold oresdown to a cutoff grade of 300 ppb. A high degree of silicification and brecciation has been identified at the TwinHills prospect which are very favourable geologic features. The alteration andgold mineralization discovered to date are aligned along a northeast trendinginterpreted structural corridor which defines the prospect. Trenching of the anomalous zones at Twin Hills will follow shortly to define thegold zones and to identify specific drill targets. John Teeling, Chairman, said "We have the smoke, we need to find the fire. These are very encouragingresults. Gold associated with alunite has a very specific signature. We have ateam of experts evaluating results to date to best decide where to trench. Someof the team are travelling to Iran to supervise work in the field. We expect tohave drill targets within months." * parts per billion For further information please contact: Persian Gold PLCJohn Teeling, Chairman + 353 1 833 2833Jack Teeling, Director + 353 1 833 2833 Rowan DartingtonIan Rice + 44 117 933 0020 Bell Pottinger Corporate & FinancialNick Lambert + 44 20 7861 3232 / +44 (0)7811 358764 This information is provided by RNS The company news service from the London Stock Exchange