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| August 20, 2008 Tirex Resources Identifies Large New Prospective VMS Areas at Mirdita | |
| Tirex Resources Ltd. ("Tirex") is pleased to announce that recent fieldwork has led to the discovery of a large new area of highly prospective territory within the Mirdita Copper-Zinc-Gold-Silver VMS Project in Albania. The new area was hidden from previous exploration programs by a limestone cap that covers the area. Tirex discovered this new area through the use of modern deep penetrating geophysics, geochemistry, and mapping with modern geological concepts. This discovery more than doubles the prospective VMS exploration target area within this key part of the property. To date this work has defined four Noranda-type Volcanogenic Massive Sulphide ("VMS") exploration trends over an area 11km long by 6 km wide (6.8 miles long by 3.7 miles wide). Historic exploration focused on one of these trends (Gurthi) and part of another (Munelle) which were amenable to exploration techniques of the day but further exploration was hampered by a limestone cap which hid underlying volcanic terrain over a large area of VMS mineral potential. The four VMS trends are summarized as follows. To the west, the Gurthi Trend is host to several known VMS deposits including the Koshaj Deposit where earlier this year Tirex drilled a number of wide high grade intersections of VMS mineralization. Further south, the Gurthi Trend is host to the Gurthi Central No. 1 Deposit and the Gurthi South No. 2 Deposit, where Tirex currently has two drills operating respectively. The Gurthi Trend, is host to both copper-rich and zinc-rich mineralization both with significant gold and silver values. To the east is the Munelle Trend which is partially covered by the limestone cap and other overburden. It is host to a significant VMS deposit discovered by Albanian State Mining company in the 1980's and is also host to several airborne and ground geophysical targets recently identified by Tirex. These include the Old Man Mountain Anomaly which is a coincident AeroTEM, UTEM and Induced Polarization anomaly that is scheduled for drilling in September. Further east and to the southeast, are the Eastern Slope Trend and Southern Arm Trend respectively. These are two new areas never before explored because they are both entirely covered by the limestone cap. Tirex geophysics has now been able to penetrate the limestone cap to outline these large and previously hidden VMS trends. These new VMS trends have been confirmed by geological mapping of VMS host rocks and alteration similar to the Gurthi Trend that are exposed in creek beds that locally cut beneath the limestone cap, local bedrock exposure of copper mineralization and in highly anomalous copper values (70-637ppm Cu) in stream sediment geochemical samples from creeks that drain the Trends. Mapping is also demonstrating that at least parts of the limestone cap are very thin and will not require deep drilling to test the underlying VMS targets now identified. George Gorzynski, P.Eng. and Director, stated, "In the past, the Mirdita VMS District was a very significant producer mainly based on production from deposits on the Gurthi Trend and part of the Munelle Trend. Our recent work has now more than doubled the prospective VMS area around Munelle Mountain and clearly defined four VMS trends including entirely new, highly prospective exploration areas that have never been explored before. The areas that were historically explored without the benefit of modern exploration techniques hosted multiple producing mines so we are very excited about the great potential these new exploration areas and techniques bring to this historic mining district." Tirex is a company purpose-built to explore and develop the large 344 square kilometer Mirdita Property 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 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. Click here to view maps George Gorzynski, P.Eng., director and Qualified Person under the meaning of Canadian National Instrument 43- 101, is responsible for the technical content of this news release. Further details on the company and the Mirdita Project can be found on the Tirex website at www.TirexResources.com. "Bryan J.R. Slusarchuk" Bryan Slusarchuk, CEO and Director THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. Tirex Resources Ltd. 5052 Victoria Drive Vancouver, B.C., Canada V5P 3T8 Tel. 604/687-7160 Fax. 604/687-7165 Email: Website: www.TirexResources.com Forward-Looking Statements. This Tirex News Release may contain certain "forward-looking" statements and information relating to Tirex that 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. | |
You can view the Next News Releases item: Wed Sep 10, 2008, Tirex Commences Drilling Of New And Previously Unexplored Old Man Mountain Anomaly At Mirdita You can view the Previous News Releases item: Mon Jul 14, 2008, Tirex Resources Expands Koshaj Deposit at Mirdita You can return to the main News Releases page, or press the Back button on your browser. |
