Monday, 8th November 2004 (2441 views)

Irish entrepreneur John Teeling has announced that he is planning to explore the potential for gold in Iran.

Working with a company called Persian Gold, the deal will see nine geologists conduct sampling at a site for six weeks from November 20.

According to The Times, Mr Teeling has already raised more than 400,000 euros from over 50 private investors for the project.

Mr Teeling already heads five quoted mineral exploration companies and although Iran is thought to be rich in natural resources the gold exploration there has been minimal over the last 25 years.

A one-year license has been secured on the site near Takestan near Tehran and sample results are expected in February next year.

 

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