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November 6th, 2008
TIREX RESOURCES INTERSECTS 7.1m (23.3 ft) OF 5.9% COPPER, 3.4g/t GOLD AND 37.5g/t SILVER AT MIRDITA
Tirex Resources Ltd. ("Tirex") (TXX:TSXv ) is pleased to announce the second set of drill assays from the GurthiSouth No. 2 Zone on the Mirdita Project in Albania. The drill hole intersected a 7.10 metre (23.3 ft)section grading 5.9% Copper, 3.4g/t Gold and 37.5g/t Silver including 4.70 metres grading7.0% Copper, 3.9g/t Gold and 40.8g/t Silver. The intersections are interpreted to be close totrue width.
Summary of assay results from drill hole MR08-25:
| Gurthi South No.2 |
| From (m) |
To (m) |
Intersection (m) |
Copper (%) |
Zinc (%) |
Silver (g/t) |
Gold (g/t) |
| Drill Hole MR08-25 |
|
120.00 |
127.10 |
7.10 |
5.9 |
0.7 |
37.5 |
3.4 |
| Including |
|
122.00 |
126.70 |
4.70 |
7.0 |
0.7 |
40.8 |
3.9 |
| Including |
|
126.10 |
126.70 |
0.60 |
12.8 |
0.2 |
24.6 |
4.9 |
Drill hole MR08-25 was drilled 50m southwest of drill hole MR08-16 which also intersected significantcopper and gold mineralization (see Tirex news release dated October 23, 2008 detailing MR08-16which intersected a 13.85 metre section grading 3.5% Copper and 1.3g/t Gold). These holeswere both drilled on the Gurthi South No. 2 target area in the north-central part of the property which is located 2.5km south of the Koshaj Deposit. Earlier this year, Tirex reported several wide intersections of high grade mineralization at Koshaj.
At Shebe North, located 16km south of Gurthi South No. 2, two drill holes were completed to test a historic geophysical anomaly. The first hole intersected a pyrite silica alteration zone with low metal grades. Such alteration zones are known to occur in peripheral areas around copper, zinc and gold mineralization. The second hole intersected 1.1% Copper across 0.75m and 4.0g/t Gold across 1.25m further down the hole. Tirex has recently completed geophysics work in the area to better define drill targets. In the course of this work several copper bearing boulders were found which give further weight to the geological potential of the area. Based on these new data, a drill is being immediately mobilized back to this area to test the newly developed drill targets.
Bryan Slusarchuk, CEO, states, "This high grade hole again shows the potential of the Mirdita District, not only for high grade base metals, but also for excellent gold and silver mineralization. Silver was never assayed for during previous state-run exploration and gold values and gold production numbers were guarded as state secrets. Drilling 3.4 g/t of gold and 37.5 g/t of silver to go along with the 5.9% copper in this hole, again, shows that the VMS mineralizing systems at Mirdita are characterized by both excellent base metal and precious metal content. The strong gold values and silver values reported to date at Gurthi South No. 2 and 2.5km away at Koshaj are being viewed by us as a very big bonus to the excellent base metal numbers the drilling is generating."
Tirex is also pleased to announce that the first tranche of the recently reported financing with the European Bank for Reconstruction and Development (EBRD) has closed in accordance with the terms previously described (see Tirex news release dated October 9, 2008). Tirex currently has three drills onsite at Mirdita and has two geophysical crews working in the northern and southern parts of the District respectively.
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.
Brian Game, P.Geo., a Qualified Person under the meaning of Canadian National Instrument 43-101 and Mirdita Project Co-Manager, is responsible for the technical content of this news release. Drill core was HQ size (6.35cm 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 analyzed 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 TIREX RESOURCES LTD.
"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
info@TirexResources.com
www.TirexResources.com
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