- Tirex Intersects 13.85m of 3.5% Copper and 1.3g/t Gold including 1.10m of 13.6% Copper and 7.4g/t Gold
- Assays pending on additional holes
- Drilling continues on multiple priority exploration targets
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2008) - Tirex Resources Ltd. ("Tirex") (TSX VENTURE:TXX) is pleased to announce the first drill assays from the Gurthi South No. 2 Zone on the Mirdita Project in Albania. The drill hole intersected a 13.85 metre (45.4 ft) section grading 3.5% Copper and 1.3g/t Gold including 3.65 metres grading 10.6% Copper and 2.9g/t Gold and including 1.10m grading 13.6% Copper and 7.4g/t Gold. The intersections are interpreted to be close to true width.
Summary of assay results from drill hole MR08-16:
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GURTHI SOUTH No. 2
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FROM TO INTERSECTION COPPER ZINC SILVER GOLD
(m) (m) (m) (%) (%) (g/t) (g/t)
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DRILL HOLE MR08-16
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125.35 139.20 13.85 3.5 0.6 7.5 1.3
Including
126.25 129.90 3.65 10.6 0.2 6.5 2.9
Including
126.25 127.35 1.10 13.6 0.2 11.5 7.4
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Drill hole MR08-16 was drilled on the Gurthi South No. 2 target area located 2.5km south of the Koshaj Deposit area. Earlier this year Tirex announced wide zones with high grade drill intersections at Koshaj.
Tirex has also received results from drilling on two early stage target areas on the property.
At Shebe North located 18km south of Koshaj, Tirex crews found copper-bearing boulders near a geophysical anomaly. Two drill holes were completed to search for the bedrock source of the boulders. The first hole intersected a pyrite silica alteration zone with low metal grades. Assays are pending for the second hole. Such alteration zones are known to occur in peripheral areas around copper, zinc and gold mineralization. Tirex is now conducting additional geophysics surveys in the Shebe North area to better define targets and the potential source of the copper bearing boulders for future drilling.
At Gurthi South No. 1, located 2km south of Koshaj, Tirex drilled four exploratory holes to test the extent of mineralization reported in a historic drill hole. All four holes intersected narrow zones of mineralization. The best intersection (DH M08-10) assayed 2.75% copper, 1.27% zinc, 25.7g/t silver and 1.3g/t gold across 0.45m.
Bryan Slusarchuk, CEO, states, "Today's announcement regarding a new zone of high-grade mineralization at Mirdita represents a big step towards our goal to prove that multiple high grade zones exist in this District. Whereas the initial phase of drilling at Koshaj identified very high zinc grades with excellent precious metal grades, today's results show very high copper grades, also with excellent precious metal grades. Gold and silver values are largely unknown at Mirdita as silver was not assayed for during previous state run exploration and gold values were kept a state secret. Today's results indicate that precious metals exist in both zinc rich and copper rich zones in the District. The Tirex property is host to 17 known historical deposits and 102 geophysical anomalies most of which remain untested. Three drills are now turning at Mirdita and we hope to continue to produce excellent assay results such as we have announced today in this new area."
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.
John Nicholson, P.Geo., a Qualified Person under the meaning of Canadian National Instrument 43-101 and Mirdita Project Manager, is responsible for the technical content of this news release. Drill core was HQ size (6.35 cm diameter) and BTW size (4.20 cm diameter). Half core samples were collected with a rock saw, tagged for identification and securely stored at the Tirex base camp until shipment. A total of 5% assay standards and 5% blanks were inserted into the sample shipment as a quality control measure in addition to the internal quality control measures applied by the laboratory. All samples were shipped directly to Global Discovery Labs in Vancouver, Canada where they were dried, weighed, crushed and pulverized. Splits of each pulp were then analysed for 30 elements by ICP Spectrometry and assayed for copper, lead, zinc, silver and gold by standard assay methods.
Further details on the company and the Mirdita Project can be found on the Tirex website at www.TirexResources.com.
ON BEHALF OF THE BOARD
Bryan Slusarchuk, CEO and Director
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, changes, 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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please contact
Tirex Resources Ltd.
Bryan Slusarchuk
CEO and Director
(604) 687-7160
(604) 687-7165 (FAX)
Email: info@TirexResources.com
Website: www.TirexResources.com
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