Tirex Resources Ltd.
TSX VENTURE: TXX
Tirex Resources Ltd.
Oct 07, 2009 14:16 ET
Tirex Resources to Drill Previously Undrilled East Slope Trend
- Drilling to begin on the high priority East Slope Trend
- Large trend first detected when Tirex flew Albania's first ever airborne geophysical survey
- Trend hidden from previous Albanian state run exploration by thin limestone cap that hid favourable host rocks
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2009) - Tirex Resources ("Tirex") (TSX VENTURE:TXX) is pleased to announce that a second drill will begin turning on the company's Mirdita District. The second drill will test East Slope Trend anomalies with a focus on new discoveries and will be turning within one week.
The East Slope Trend has never been drilled and has never been the subject of any previous modern and systematic exploration.
Prior to Tirex's arrival in Albania, little was known about the East Slope Trend. The trend is considered to be of equal potential importance to the Gurthi and Munelle Trends which hosted multiple historic mines and VMS deposits. It is largely hidden by a thin limestone cap that covered the favourable volcanic host rocks and potential mineralization.
When Tirex flew the country's first ever airborne geophysical survey, the East Slope Trend was first identified. The trend has since become the subject of significant Tirex ground work including detailed geological mapping, stream sediment sampling and ground geophysics. Stream sediment sampling from creeks that drain the Trend were highly anomalous with copper values of 70-637ppm. Based on the airborne electromagnetic results, two Induced Polarization ("IP") lines (each about 2km long) were carried out across the trend. High priority drill targets, resulting from this ground work, have been identified. The target deposit type is Noranda-style VMS deposits. Such deposits on the Gurthi and Munelle Trends to the west host high grade copper, zinc, gold and silver mineralization.
George Gorzynski, P.Eng and Tirex Director states, "Armed with the data generated from significant ground work completed during the past year, Tirex is ready to drill the East Slope Trend. This trend, never before drilled, represents multiple opportunities for discovery. The initial identification of this trend and the subsequent target definition work are indicative of what modern exploration in this large historically producing District can do."
A map showing the East Slope Trend in relation to the historically producing Gurthi and Munelle Trends can be found on the company website at www.tirexresources.com.
In addition to the discovery focused drilling on the East Slope Trend, Tirex continues to drill step out holes at Letitna, targeting potential large tonnage VMS mineralization. Letitna is a thick zone of strong mineralization, open for expansion in every direction. Assays from recent holes drilled at Letitna are expected soon. George Gorzynski, P.Eng., Tirex Director, and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.
Tirex is a company purpose-built to explore and develop the large 553 square kilometer Mirdita District in Albania. The nature of the VMS mineralization in this District provides Tirex investors with exposure to a high grade basket of metals: Copper, Zinc, Gold, and Silver. The property is readily accessible by paved and gravel roads and is located 70 km north of the capital city of Tirana. The property covers the core of the historically productive Mirdita VMS base metal district. It represents an opportunity to explore Copper, Zinc, Gold and Silver zones that were previously partially mined, explored or evaluated at lower metal prices, and provides an opportunity to apply modern exploration techniques toward the discovery of new VMS deposits and extensions of known zones. In addition to the 17 historical deposits identified by previous state-run exploration, Tirex has identified numerous high priority exploration targets resulting from the 2007 airborne geophysical survey, ongoing ground geophysics, geological mapping and other field work. The Mirdita exploration project is managed by an experienced team of Canadian geologists and other professionals, and several senior Albanian geologists, geophysicists and surveyors.
Further details on the company and the Mirdita Project can be found on the Tirex website at www.TirexResources.com.
ON BEHALF OF THE COMPANY
Bryan Slusarchuk, CEO and Director
Forward-Looking Statements. This Tirex News Release may contain certain "forward-looking" statements and information relating to Tirex which are based on the beliefs of Tirex management, as well as assumptions made by and information currently available to Tirex management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. |
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