Iran News ...


1/18/07

Persian Gold provided Iran drilling update

 
  • Extensive gold mineralisation confirmed at Chah-e-Zard prospect in central Iran.
  • Work underway to further define the target.
  • Excellent support from local partners and the Iranian authorities.

 

Persian Gold (AIM:PNG), the Irish based gold explorer, is pleased to update shareholders on results from its 16 hole reconnaissance drilling programme at Chah-e-Zard near Yazd in Central Iran.  Persian Gold holds a 70% interest in the project. Table 1 below shows a summary of results.

 

 

Gold results from the 16 hole programme suggest a high grade gold system in the southeast with lower grades in the west and northwest.  Only three of the 16 holes did not contain gold anomalies.  The silver results, although incomplete, appear to mirror the gold results.

 

The southernmost holes (1 and 3) contained high grade mineralisation including an intersection of 122m at 1.95 g/t gold and 23.8 g/t silver.  Holes 1 and 3 are 125 metres apart.  Holes to the west and northwest (4-13) carry anomalies of less than 1 g/t gold.


Although more drilling is required, these results appear to indicate that there are at least two mineralised systems in the area.  Planning is underway for the second phase of drilling which is likely to take place in the Spring.

 

John Teeling, Chairman commented:


“The initial phase of drilling the large gold anomaly at Chah-e-Zard is producing promising results.  The high grades and thick mineralisation in the southeast warrant immediate follow up drilling while grades in the north and west indicate that gold and silver are present but at lower grades.

 

Although final conclusions cannot be drawn from such a small drill programme, every drill result adds to our knowledge of the system.  The first phase of drilling has improved our understanding and we expect to commence a further drilling phase in the near future to further define the target.”


  

Table 1: Drilling results from Chah-e-Zard

Hole

Depth from

Depth to

Interval

Silver grade

Gold grade

ZDH-1

138m

178m

40m

49.3 g/t average

1.24 g/t average

 

 

of which

16m

92.2 g/t

2.37 g/t

ZDH-2

45m

85m

40m

 

0.43 g/t

ZDH-3

9m

23m

14m

 

1.67 g/t

 

102m

224m

122m

23.8 g/t

1.95 g/t

 

 

of which

30m

84.8 g/t

 

 

 

and

10m

 

13.60 g/t

 

 

and

6m

 

5.19 g/t

ZDH-4

50m

68m

18m

 

0.66 g/t

ZDH-6

18m

56m

38m

 

0.15 g/t

ZDH-7

29m

73m

44m

 

0.14 g/t

ZDH-8

33m

43m

10m

7.3 g/t

 

 

214m

230m

16m

30.0 g/t

0.18 g/t

ZDH-9

51m

55m

4m

 

0.53 g/t

 

63m

69m

6m

 

0.52 g/t

 

71m

107m

36m

22.1 g/t

 

ZDH-10

88m

106m

18m

 

0.15 g/t

ZDH-11

62m

98m

36m

 

0.20 g/t

ZDH-13

108m

116m

8m

 

0.47 g/t

ZDH-14

86m

96m

10m

 

0.24 g/t

 

118m

150m

32m

 

0.41 g/t

ZDH-16

18m

32m

14m

 

0.21 g/t

No gold was encountered in holes 5, 12 and 15.

Gold results from holes 1-6 were previously reported on 29 November 2006 as were the silver results from hole 1.

 


Information in this announcement relating to exploration results has been reviewed by Mr. A. Babakhani, an independent geologist and consultant to Persian Gold, who is a qualified person under AIM guidelines.

 

 

... Payvand News - 1/18/07 ... --



comments powered by Disqus

Home | ArchiveContact | About |  Web Sites | Bookstore | Persian Calendar | twitter | facebook | RSS Feed


© Copyright 2007 NetNative (All Rights Reserved)