Persian Gold PLC
10 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 Twin
Hills prospect located within one of the Company's eight exploration licences
near Takestan in Northwestern Iran.
Twin Hills is located within a very large alunite alteration zone which was
identified as gold bearing from the first phase of sampling in early 2005. Over
100 targeted additional geochemical samples were taken which have confirmed and
enlarged the gold zone. The bulk of the samples contained gold values.
Eighteen samples, located over an area of one square kilometre, have returned
values of between 100 to 800 ppb* which is highly anomalous in quartz-alunite
systems. Some of the world's largest gold mines of this type extract gold ores
down to a cutoff grade of 300 ppb.
A high degree of silicification and brecciation has been identified at the Twin
Hills prospect which are very favourable geologic features. The alteration and
gold mineralization discovered to date are aligned along a northeast trending
interpreted structural corridor which defines the prospect.
Trenching of the anomalous zones at Twin Hills will follow shortly to define the
gold zones and to identify specific drill targets.
John Teeling, Chairman, said
'We have the smoke, we need to find the fire. These are very encouraging
results. Gold associated with alunite has a very specific signature. We have a
team of experts evaluating results to date to best decide where to trench. Some
of the team are travelling to Iran to supervise work in the field. We expect to
have drill targets within months.'
* parts per billion
For further information please contact:
Persian Gold PLC
John Teeling, Chairman + 353 1 833 2833
Jack Teeling, Director + 353 1 833 2833
Rowan Dartington
Ian Rice + 44 117 933 0020
Bell Pottinger Corporate & Financial
Nick Lambert + 44 20 7861 3232 / +44 (0)7811 358764
This information is provided by RNS
The company news service from the London Stock Exchange SCKGMGGKNZGKZM
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