March 15, 2010
Tirex 2010 Drill Program to Start
- Compilation from 2009 Field Work Leads to
Identification of Large New Area of Interest
- Newly Identified Area of District
Interpreted as Having World Class Precious Metal Bearing Copper-Zinc
Deposit Potential
- Felsic Volcanic Rich Subarea Has
North-South Strike Length of 2km, Open to North
Vancouver, BC
- Tirex Resources Ltd. (TSX-V:TXX) ("Tirex")
is pleased to announce that it has remobilized to Mirdita
to commence its 2010 exploration and drilling program.
Tirex technical team members are now onsite at Mirdita,
field work has commenced and drilling will start within three weeks.
The 2010 drill program will be a combination of advanced stage
definition and expansion drilling in known areas of mineralization,
geared towards the development of resource calculations in
combination with pure exploration drilling targeting new discoveries.
Tirex is pleased to announce that the recent compilation of 2009
field work led by Chief Geologist Dr. Allan Miller has resulted in the
identification of a large new area of interest, viewed as having substantial exploration upside. The
area is an underexplored area of the property that Dr. Miller believes
has the most significant potential yet identified within the Mirdita VMS District.
This highly prospective area for
precious-metal bearing volcanogenic massive sulphide (VMS) deposits is
located in the central portion of the volcanic belt that Tirex Resources has been exploring since 2007. VMS
deposits hosted in this segment of the volcanic belt include the Munelle and Qaf Bari
deposits. This newly identified subarea within the bimodal volcanic
belt is characterized by a high proportion of felsic
volcanic rocks. Significantly, this felsic
volcanic-dominated subarea is comprised of multiple felsic
lava domes and flanking medial flows, pyroclastic
and breccias deposits. This aerially extensive felsic
volcanic-rich subarea has a north-south strike length of approximately
2.0 kilometers (remains open to the north)
and is interpreted to have formed by the coalescing of multiple felsic centres. In addition, moderate to intense
hydrothermal alteration was identified within many of the felsic domes and in the immediately flanking felsic and mafic volcanic
rocks. This geological
setting within this area is directly comparable to many VMS districts
that host significant to world-class precious metal bearing copper-zinc
deposits.
In drilling to date, Tirex has
intersected thick zones of robust mineralization at Koshaj,
South Gurthi and Letitna.
In addition to resource definition and expansion drilling in those
areas during 2010, Tirex has a large
exploration drill program targeting discovery planned, based on
significant fieldwork completed in 2009.
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 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.
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
news release."
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