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Dalli Project

The Dalli gold-copper porphyry project is located approximately 200km southwest of Tehran within the central volcanic belt that hosts two other major porphyry systems, Sar Cheshmeh and Sungun. Prior to Persian Gold’s involvement in the project, Dalli has never been drilled.

The project consists of extensive surface gold-copper mineralisation in an intermediate intrusive complex. There are two distinct centres of mineralisation located 1.7km apart, known as the South Hill and the North Hill.

A four-hole core drilling programme has been completed with every hole encountering significant gold-copper mineralisation. As such, plans are underway to initiate a second phase drill programme to further define this mineral discovery.

The two mineralised centres, as defined by both surface geochemistry and diamond drilling, are aligned along a northeast-southwest trending structural zone. The similarity of copper and gold grades in both the South Hill and the North Hill mineral complexes suggest the strength of these porphyry systems.

A surface IP (Induced Polarisation) geophysical survey has been completed over the porphyry centres at both the North Hill and the South Hill. This survey consisted of six profiles for a total length of 2.6km. This survey has defined potential extensions to the zone of conductive sulphides which correlates with the intercepts seen in the drilling.

For comparative purposes, two of the largest porphyry copper deposits in Iran, Sar Cheshmeh and Sungun have copper grades only slightly higher than that of Dalli’s South Hill mineral system. The copper grade at Sar Cheshmeh is approximately 0.70% and that of Sungun is 0.75% with only minor by-product gold for each. The gold content in the Dalli South Hill is significant and will greatly impact the economics of the project.

Drill Results

• Two diamond drill holes completed in the South Hill
• Hole #1 hit 211 metres - 0.68 g/t Au and 0.45% Cu
• Hole #2 hit 213 metres - 0.75 g/t Au and 0.57% Cu
• Two diamond drill holes completed in the North Hill
• Hole #3 hit 233 metres - 0.52 g/t Au and 0.12% Cu
• Hole #4 hit 99 metres - 0.53 g/t Au and 0.17% Cu