May 25, 2010
Tirex Discovers New Mineralized Zone at Mirdita
- Drill hole intersected thick zone of highly silicified
breccias with disseminated sphalerite
- Assays pending
- Drilling has begun on second high priority exploration
target
Vancouver, BC - Tirex Resources (TSX-V:TXX) is pleased to announce that the first hole (M10-58) on the
Lisi Pass East target has been completed at
the Mirdita VMS project in Albania. The hole intersected 21m of highly silicified breccias
with disseminated sphalerite (zinc) which is
associated with elevated gold values elsewhere in the district. Samples
have been sent for assay. With a revised drilling strategy, the
hole successfully penetrated a thick melange unit (313m) that has
prevented most previous drilling from testing the favourable volcanic
sequence below. A follow up hole will be targeted based on these
results in conjunction with recently revised geological modelling of
the VMS mineralization on the property.
As Tirex waits for
assay results from Hole M10-58, the drill has moved 1.7km north along
the trend to test targets developed in the South Bari Pass area. South
Bari Pass is a new area of significant interest to Tirex
located beyond previous drilling. It was identified as highly
prospective through extensive Tirex field
work. In 2008 and 2009 geological mapping and geochemical rock sampling
in the area revealed an abundance of altered and chemically distinctive
felsic volcanic rocks and iron formation that
are commonly associated with sulphide mineralization in other VMS
mining districts. Significant exploration related features include the
recognition of multiple felsic volcanic
centres, an abundance of felsic volcanic
rocks with the same chemical affinity as those associated with the high
grade-deposits in the Letitna to Koshaj corridor to the south and the overprinting
of felsic volcanic centres and flanking
volcanic rocks by moderate to intense hydrothermal alteration. This felsic-dominated terrain is up to 500 meters thick
and has a north-south strike length of approximately 2 kilometres. These
lithological features and the temporal
relationships between volcanism and alteration that have been
identified in the South Bari Pass area are similar to other VMS
districts that host major precious metal bearing copper-zinc deposits.
Bryan Slusarchuk, Tirex CEO, states, "This discovery hole
opens up a new area of the District and is indicative of what the use
of modern exploration equipment and techniques can do in this
historically prolific region. While we eagerly await assays from Hole M10-58, we begin to drill test another high
priority exploration area of the property. Additional to the current
exploration focus on site, Tirex is also
working with a Canadian based engineering firm to move towards NI
43-101 compliant mineral resource calculations for Letitna,
Koshaj, and South Gurthi
which are three of the more advanced deposits within Tirex's large land package ."
The ongoing 2010 drill program at Mirdita will be funded, in part, through the
company's facility (described in Tirex News
Release dated October 9th, 2008) with the European Bank for
Reconstruction and Development.
John Nicholson, P.Geo., Mirdita Project Manager and a 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 http://www.tirexresources.com/s/Home.asp.
ON BEHALF OF TIREX RESOURCES LTD.
"Bryan J.R. 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, 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.
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