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Environmental permit allows Tirex to exercise it's exclusive right to exploitation (mining) license at Rehova, with an initial term of 25 years
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Environmental permit covers all 4 deposits in the historic Rehova Copper Mine including Bregu i Geshtenjes
Tirex Resources Ltd. ("Tirex" or "the Company") is pleased to announce that it has received the Final Environmental Permit, as of June 12, 2015, from the Ministry of Environment of Albania. This is the final permit required for Tirex to exercise it's exclusive rights to 25 year mining licenses at the Rehova Project. This final environmental permit required community consultation and approval; which has been achieved. Prior approvals received from applicable government agencies relating to this process also included the final approval of all onsite work plans by Albania's National Agency of Natural Resources.
Tirex President, Mr. Fred Tejada, P.Geo, states, "Tirex is pleased not only with the completion of this process but also with the outstanding support shown by the local communities. Over time, Tirex work at Rehova has the potential to create employment opportunities and infrastructure growth in the region."
Tirex acquired the Rehova Mine Property ("Rehova") through an open tender process which the government of Albania held in January 2015. Winning the open tender gave Tirex the exclusive right to an initial 25-year mine license at Rehova. Tirex plans to commence confirmation drilling within Rehova to update the historic resources to current resources compliant with National Instrument 43-101 while also targeting an expansion of the known mineralized zones.
Rehova is located in central Albania, is readily accessible by paved roads and is on the electrical power grid. The mining property contains four historical VMS deposits. These are surrounded by exploration areas of interest that have not yet been systematically tested using modern exploration techniques and technology. The four known deposits called Bregu i Geshtenjes ("B&G"), Rehova-Kanisqel, Çiflig and Dushku i Trashe comprise the Rehova Copper Mine. Rehova is an historically producing mining operation which was formerly operated by the Albanian state copper enterprise.
Prior to the start of production in 1980 the Albanian Geological Survey ("AGS") had defined combined resources of 3.43 million tons grading 2.17% copper for the four deposits and by the time operations stopped in 1990 reported 2.87 million tons grading 2.14% copper remaining. The majority of the remaining resources consisting of 2.09 million tons grading 2.15% copper are reported from B&G, which has remained intact and is open for expansion. Underground development works had been started at B&G as the deposit was being prepared for mining when the state run mining enterprise shut down its mining operations country-wide at the time of the collapse of communism.
Çiflig and Dushku i Trashe were mined by underground method while Rehova-Kanisqel was mined by open pit and to a limited extent by underground. The materials mined were sent to a processing plant nearby with an annual capacity of 60,000 tons. Tirex will be evaluating underground development and mining opportunities at the B&G, Çiflig and Dushku i Trashe deposits while evaluating open pit mining potential at Rehova-Kanisqel deposit. The ability to open pit mine at Rehova-Kanisqel may provide a targeted accelerated path to production while the larger deposit (B&G) is readied for production.
Tirex will assess developing the 4.45sqkm Rehova property as a stand-alone mining and processing operation. Most historic facilities such as the processing plant equipment and mining equipment have been removed from the site but in addition to the underground development that exists, infrastructure such as good roads, mill foundations, tailings area and electrical power lines are still in place.
Tirex also plans to explore for similar VMS deposits elsewhere in the Rehova region outside of the mining license area. Several prospects had been identified by the AGS prior to the closure of the mine and Tirex intends to evaluate the potential of developing multiple deposits of various sizes that will feed a central mill that produces potentially copper, gold, silver and/or zinc.
All of the above stated resources and grade estimates are historic in nature; were obtained from information provided by the Albanian government; are not the subject of an NI 43-101 compliant report; and have not been verified by Tirex. No qualified person has done sufficient work to classify the historical estimates as current mineral resources; and Tirex is not treating the historical estimates as current mineral resources. Tirex is including the historical estimates for information purposes only, and offers no assurances as to the reliability of the estimates. Tirex will need to undertake a comprehensive review of available data, and in all likelihood a drill program, to verify the historic estimates and classify them as current resources.
Mr. Fred Tejada, P.Geo., Tirex President, and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.
On Behalf of Management,
Bryan Slusarchuk
Chief Executive Officer
Forward-Looking Statements. This Tirex News Release may contain certain "forward-looking" statements and information relating to Tirex. Such statements include but are not limited to statements about the Agreement, Licenses, the production arrangements and the timing of the mine development, and production. Often forward-looking statements or information include words such as "plans", expects", "intends", "anticipates", "estimates" "forecasts", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or will be taken occur or be achieved. Although forward-looking statements and information contained in this release are based on the beliefs of Tirex management, which we consider to be reasonable, as well as assumptions made by and information currently available to Tirex management, there is no assurance that the forward-looking statement or information will prove to be accurate. The forward-looking statements and information contained in this release are subject to current risks, uncertainties and assumptions related to certain factors including, without limitations, obtaining all necessary approvals, feasibility of mine and plant development, 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 as well as risks, uncertainties and other factors discussed in our quarterly and annual and interim management's discussion and analysis. 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 and information may vary materially from those described herein. Accordingly, readers should not place undue reliance on forward-looking statements and information contained in this release. We undertake no obligation to update forward-looking statements or information except as required by law. All resource estimates quoted in this news release are historical, uncategorized and not NI 43-101 compliant and should not be relied upon. Tirex has not verified these historical resources and has not reviewed the assumptions, parameters and methods used to prepare the historical resource estimate. No Qualified Person has done sufficient work to classify the historical estimates as current and Tirex is not treating the historical estimates as current mineral resources or reserves but considers them as historically relevant and material information. A feasibility study has not been completed and there is no certainty the proposed operation will be economically viable.
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You can view the Previous News Releases item: Tue Apr 14, 2015, Tirex Advances at Rehova and Mirdita VMS Projects