Drilling Report

    RNS Number : 4913U
  Persian Gold PLC
  15 May 2008
   

    15 May 2008
    Persian Gold PLC


    Chah-e-Zard Gold Discovery Advances to Pre-Feasibility Stage


    The Board of Persian Gold (AIM:PNG), the Irish based Iranian gold explorer is pleased to announce the results of second phase drilling
at Chah-e-Zard. Following a detailed review and modelling of the trench and drill results from both the first phase announced on 16 January
2007 and this phase Persian Gold announces that:

    *     Persian Gold has exercised the option to acquire 70% of the joint venture company which will hold the licence over the Chah-e-Zard
gold discovery. The licence is in the process of being transferred to the joint venture company.
    *     An application will be made to the authorities for a Discovery Certificate covering 160,000 ounces of gold and 1 million ounces of
silver.
    *     A pre-feasibility study will be undertaken on the near surface oxide resource to determine the economics of a heap leach gold
mine.
    Assuming co-operation from the authorities, this pre-feasibility study could be completed within 20 weeks. Based on the results of this
study, Persian Gold will investigate all possible methods to extract maximum value for shareholders from this discovery.

    Chah e-Zard is located in a desert area where logistics, security and community relations are excellent.

    This release has been approved by Bahman Rashidi, a qualified geologist with more than ten years experience exploring in Iran.

    John Teeling, chairman, commented;
    "Chah-e-Zard may well become the first producing mine developed by Persian Gold in Iran. The detailed analysis of 38 drill holes and
thousands of metres of trenching led to a modelled deposit of 160,000 ounces of gold and 1 million ounces of silver in a tightly defined
area. This confirms Persian Gold's belief that there are significant gold and related metal discoveries to be made in the Persian-Tethyan
belt."


    Summary drill results of second phase drilling:

 Drill hole   Depth m.  Interval m.   Gold g/t    Depth m.  Interval m.  Silver g/t
      1         6-20        14          0.74        6-20        14         40.23
                                                                              
      3        38-40         2          1.15       37-60        23          9.6
     and       48-50         2          1.13
     and       58-66         8          0.53

      4        27-36         9          0.58       14-27        13           36
     and       36-38         2          45.44      36-45         9          8.2
     and       58-70        12          6.15       59-71        12          36.5
                                                                              
      5         0-12        12          2.65        0-12        12          8.6
     and       77-83         6          1.16       71-83        13           15
                                                                              
     5-2        0-5          5          6.01        0-5          5          8.22
     and       27-46        19          2.20        2746        19          22.3

     6-2        0-5          5          1.48

      7        55-63         8          1.32       68-68        62           13
                                                                              
      8         2-4          2          0.95       24-27         3         21.77
     and        8-12         4          1.00

      9         2-3          1          1.12       26-44        18           7
     and       20-22         2          2.37       45-63        18           24
     and       54-63         9          1.48       64-79        15          7.5
     and       67-68         1          2.97
     and       74-76         2          1.55

     10        29-61        32          5.90       11-16         5           17
     and       71-74         3          11.63      27-59        32         26.45
     and       86-100       14          3.11       82-100       18          81.9
                                     End of hole                              
    10-2        2-4          2          1.38        8-12         4           39
     and        8-10         2          2.75       23-59        36          10.7
     and       31-34         3          1.30
     and       58-61         3          2.65

     11        15-16         1          7.52
     and       22-27         5          11.10
     and       34-35         1          9.04

     12        39-44         5          1.47       42-53        12           15



    Enquiries:

 Persian Gold PLC
 John Teeling, Executive Chairman  +353 (0) 1 8332833

 College Hill
 Nick Elwes                        +44 (0) 20 7457 2020

 Blue Oar
 John Wakefield                    +44 (0) 1179 330 020

This information is provided by RNS
The company news service from the London Stock Exchange
 
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