Persian Gold in Iranian purchase

PERSIAN GOLD, the Irish-based Iranian gold explorer, has acquired 70% of the joint venture company which holds the licence over the Chah-e-Zard gold discovery in centralIran.

This move follows a review of the results of the second phase of drilling at Chah-e-Zard.

Persian Gold will make an application to the authorities for a Discovery Certificate covering 160,000 ounces of gold and 1,000,000 ounces of silver.