Tirex Intersects 7.7 m (25.3 ft) of 5.23% Copper, 1.84% Zinc, 57 g/t Silver and 4.6 g/t Gold at Gurthi South No. 1
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/28/10 -- Tirex Resources Ltd. (TSX VENTURE: TXX) -
-- Step out Drill Hole at Gurthi South No. 1 Intersects Robust
Mineralization
-- Gurthi South No. 1 Zone Open for Expansion
-- District scale exploration program continues, drilling is ongoing
Tirex Resources Ltd. ('Tirex') is pleased to announce drill results from the Gurthi South No. 1 Zone in the company's Mirdita VMS Project in Albania. Results are highlighted by drill hole MR10-60 which intersected a thick, high grade zone assaying 5.23% Copper, 1.84% Zinc, 57 g/t Silver, and 4.6 g/t Gold across 7.7 m (25.3 ft) including 6.92% Cu, 2.53% Zn, 84.6 g/t Ag and 6.8 g/t Au over 4.0 m (13.1 ft) and including 7.50% Cu, 3.78% Zn, 124.6 g/t Ag and 8.2 g/t Au across 2.0 m (6.6 ft). These intervals are close to true width.
MR10-60 is a step out hole drilled 60m west of previous drilling on this zone and is the first hole drilled in Tirex's recently commenced phase of drilling.
Summary of assay results from recent drilling at Gurthi South No. 1:
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GURTHI SOUTH No. 1 ZONE DRILL RESULTS
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FROM TO INTERSECTION COPPER ZINC SILVER GOLD
(m) (m) (m) (%) (%) (g/t) (g/t)
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DRILL HOLE MR10-60
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249.5 257.2 7.7 5.23 1.84 57.0 4.6
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including
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250.5 254.5 4.0 6.92 2.53 84.6 6.8
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including
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251.5 253.5 2.0 7.50 3.78 124.6 8.2
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DRILL HOLE MR10-61
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266.2 268.4 2.2 1.26 0.03 0.3 0.1
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DRILL HOLE MR10-62
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246.5 251.0 4.5 0.62 0.05 0.2 0.0
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Drill holes MR10-61 and MR10-62 were drilled 100 m south and 150 m south respectively of drill hole MR10-60 and west of previous Tirex drilling. The zone remains open for expansion to the west and north. A map of the Gurthi South No. 1 drilling to date will be posted on the company website at www.TirexResources.com.
George Gorzynski, P.Eng. and Director, states, 'The drill plan for these holes was based on reinterpretation of previous Tirex and historic Albanian drill results. Previous Tirex drill holes appear to have intersected the thinner eastern edge of the thick and robust mineralization intersected in drill hole MR10-60. Of note within today's high grade assay results, is the continuing evidence of this system's ability to generate exceptional precious metal enrichment.'
Drilling is presently continuing on blue sky exploration targets in the Bari Pass South area of the property. Additional drilling in this phase will include expansion drilling at the Gurthi South No. 2 area where Tirex previously reported multiple thick and high grade intersections including 3.7 m of 10.61% Copper and 2.9 g/t Gold (see Tirex news release dated January 11, 2010).
The Mirdita property is a large land package that covers most of the traditional Albanian Copper Mining District. Multiple historic zones on the property host significant copper, zinc, gold and silver mineralization (see Tirex news release dated January 11, 2010 for a summary). Mineral resource estimates based on Tirex definition drilling to date for the Koshaj, Gurthi South and Letitna Zones are now being calculated by SRK Consulting (UK) Ltd.
Tirex's intense District-scale exploration program is being funded, in part, by the European Bank for Reconstruction and Development (EBRD).
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 including a location map for the reported drill holes can be found on the Tirex website at www.TirexResources.com.
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.
'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.'
Contacts:
Tirex Resources Ltd.
Bryan J.R. Slusarchuk
CEO and Director
604-687-7160 or Toll Free: 1-877-687-7160
604-687-7165 (FAX)
info@TirexResources.com
www.TirexResources.com