Business
Research Update
Research Update.
About this update from Clontarf Energy Plc
[{"type":"text","content":"\n Persian Gold PLC\n25 July 2006\n\nPERSIAN GOLD PLC\n\n\n\nUpdate on the Chah-e-Zard Gold Project in Yazd, Iran\n\n\n\n • Very encouraging second stage sampling results.\n • Drilling contract agreed.\n • Drilling to commence in the coming weeks.\n\n\n\nPersian Gold plc. ('Persian Gold' or 'the Company') is very pleased to announce\nthe results from the second stage sampling programme on the Chah-e-Zard Gold\nProject in Yazd, Iran. Persian Gold holds an option to acquire 70% of the\nproject with the remainder held by a local Iranian company.\n\n\n\nThe first analyses from the current geochemical sampling programme on the gold\ndeposit in Chah-e-Zard, near Yazd, have produced excellent results. 344 of 366\nsamples of the current rock chip/channel and soil data base have returned gold\nvalues.\n\n\n\nThese results have enabled the Board of Persian Gold to confirm a drilling\ncontract with a Turkish drilling company with a long history of gold\nexploration. The Company intends to undertake a multi hole diamond drill\nprogramme to commence in early autumn.\n\n\n\nJohn Teeling, Chairman commented\n\n\n\n'These are good results and support the earlier results achieved by Persian Gold\nand the data supplied by our local partner. The size of the mineralised zone, at\n750m x 1250m, is large and, if the upcoming drilling programme confirms previous\nrock and soil sampling data, there is a good possibility of advancing this\nproject towards a new substantial gold discovery.\n\n\n\nThe project is attractive both geologically and logistically. Suitable for low\ncost heap leaching and workable all year round, this could be a very cost\neffective and profitable project'\n\n\n\n\n\nOperational Detail\n\nThe detailed surface geochemical sampling programme underway is being conducted\non a precise 50 by 50 metres sampling grid to define the outline of the deposit\nand to select drill targets. This programme is a follow up to the earlier\nreconnaissance rock chip programme undertaken in Q1 2006 which defined a large\nsurface anomaly with gold values up to 21 g/t.\n\n\n\nThe rock chip and soil sample results have confirmed that gold mineralization at\n Chah-e-Zard, including a significant number of samples that grade better than\n4.0g/t gold and multi-gram silver, occur across outcrops within an area\nmeasuring in excess of 1250m x 750m. The...