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Saturday 11th of February 2012
Friday, March 7, 2008

Tirex announces arrival of 2nd drill in Albania

Tirex announces arrival of 2nd drill in Albania

Tirex Resources Ltd. announces that a second core drill has arrived in Albania to work on the Mirdita Copper-Zinc-Gold Project. The introduction of the second drill is intended to accelerate the aggressive district-wide exploration program. While the first drill will continue to work on verifying historic drill results on known deposits, this second drill will be dedicated to testing new exploration targets generated by a combination of historical data compilation, results from the Tirex 2007 airborne geophysical survey and follow up of UTEM ground geophysical work.

The first drill is continuing to define the Koshaj Deposit where the first hole intersected strong mineralization over 65m including intercepts of 0.9% Copper, 11.6% Zinc, 1.0% Lead, 141.6g/t Silver and 5.5g/t Gold over 14.1m including 2.3% Copper, 34.8% Zinc, 2.4% Lead, 376.1g/t Silver, and 14.6g/t Gold over 3.1m, and 0.8% Copper, 12.5% Zinc, 13.0g/t Silver and 2.2g/t Gold over 27.5m. The Koshaj Deposit is one of 17 known deposits on the property which were drilled and partially defined by the Albanian State Mining Company in the past. It was reported to be a zinc-rich deposit which was not mined because of a lack of zinc processing facilities. After Koshaj, the first drill will continue verification drilling on the Gurthi Central and Gurthi South Deposits.

The second drill is scheduled to test some of the numerous exploration targets defined by historical work and Tirex geophysics, but never previously drilled. The initial target for the second drill will be the Shebe North area in the southern part of the property where a well defined geophysical target lies on a critical geological horizon. From there the second drill will move on to other previously untested exploration targets.

Bryan Slusarchuk, CEO, said, we promised an aggressive exploration program and we are continuing to deliver on that promise with the arrival of the second drill. We have a very large VMS district with excellent potential for multiple new discoveries. Our exploration program is well funded and is run by an enthusiastic team of veteran professionals. Our intent is to rapidly prove up the potential of the Mirdita District and deliver to our shareholders maximum value in a minimal timeframe.

Tirex’s focus is the exploration and development of the large 344 square kilometer Mirdita Property in Albania. 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 or extensions of known zones.

 


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