Persian Gold, the Irish based AIM listed Iranian gold explorer, has agreed an option deal in the Chah-e-Zard gold project. This is located in Yazd, some 350 miles southeast of Tehran.
If exercised, the option has an initial period of nine months and will allow Persian Gold to acquire a 70% interest in a new company to be established to hold the licence on the property.
The Chah-e-Zard gold deposit is located within a major mineral belt that extends from Turkey through Iran into Pakistan. Published geographical information has noted gold occurrences within the project area.
'This is a significant addition to our Iranian exploration portfolio,' Chairman John Teeling said. 'The size and intensity of the gold anomaly indicates the possibility of a substantial deposit,' he added.
He said that detailed exploration work in ongoing and is expected to lead to a drilling programme over the summer months.
