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Winston's Growth Stock Report
Your Source for High Potential Stocks
www.jameswinston.com
Issue 07 Vol.15 February 22, 2008 Customer Service 1-800-528-0559
Exploration Drilling Doesn’t Get Much Easier Then This!
This
is the closest thing to a slam-dunk exploration drilling program
you’re going to find.
Tirex Resources is in the process of
making historic Soviet data compliant to National Instrument 43-101
regulations at their 344 square km Mirdita
project in Albania
where drilling is underway at their Koshaj
deposit.
The
Koshaj deposit is one of 17 known Volcanic
Massive Sulphide (VMS) deposits Tirex
controls within their own district of previously worked “brownfield” mines. Historical data shows Koshaj and other properties have a high potential
for large VMS deposits which have formed from metal-rich hydrothermal
solutions discharging onto or near the sea floor to form bodies of
copper, zinc, gold and/or silver-rich mineralization.
According
to the old Soviet data, they reportedly found well mineralized ore
when they drill tested Koshaj. There was
only one problem – and it’s a good one if you’re a
shareholder of Tirex. You see the Soviets
found too much zinc in their drill samples! They were happy
discovering copper, silver or gold but they didn’t possess the
technical expertise to separate higher concentrations of zinc. So as
a result, the Soviet miners walked away from Koshaj
and went on to other properties in the area.
It’s
interesting to note that in the mid 90’s, a Canadian listed
company, Nebex Resources drilled in the
district and reported strong numbers as well.
With
zinc now trading over $1 a pound having doubled over the last few
years alone, the prospects of drill proving rich concentrations of
copper, zinc, gold and/or silver is an exciting prospect.
And
looking at Tirex’s stock chart, there
seems to be a large number of investors who agree. In fact Tirex is one of the few shining stars in the
venture mining sector right now that has gotten strong support from
the market since they started trading on October 19th of
2007.
Tirex is now in the midst of a 13,500 meter
drill program (44,291
feet) that started on January 28th.
On February 13th the Company announced they had completed
their first drill hole which hit sulphide mineralization at a depth
of 42 meters.
This coincided with historic Soviet data that indicated that would be
the case. And therein is the precise reason for the speculation fervor surrounding Tirex.
Using
the Soviet data as a blueprint, exploration drilling doesn’t
get much easier then this. All Tirex has to
do is twin the old Soviet drill holes from or near historic drill
collars. The holes are expected to be longer then the Soviets’
as the historic holes ended in mineralization and perhaps some
easterly extensions of the deposit may be found. All holes are
projected to be 200
meters in the west and up to 500 meters in
the east. While that proceeds initial
exploration of other VMS prospects will be undertaken.
The
Phase 1 program on the Koshaj Deposit will
take approximately 6 months to complete. Once the lab results from
the first few holes are made available, Tirex
shares could very well take a strong run up given positive
verification.
This
could be a really big deal for Tirex. VMS
deposits account for some of the most famous mineral deposits in the
world such as Noranda and Flin Flon. What Tirex may have here is not just one deposit but a
portfolio of deposits encompassing an entire mining district.
It’s
the chance for multiple, “Company Maker”
deposits.
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