Tirex Intersects 19.3m (63.3 ft) of 3.66% Copper, 1.13% Zinc and 1.2g/t Gold including 6.7m (22.0 ft) of 7.38% Copper, 1.77% Zinc and 1.6g/t Gold at Gurthi South No. 2 - Thickest Intercept and Highest Grades of Copper Mineralization Drilled to Date i
- Thickest Intercept and Highest Grades of Copper Mineralization Drilled to Date in Zone
- Multiple Additional Holes in Zone Have Intersected Mineralization, Assays Pending
- Zone Is Open for Expansion
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/13/10 -- Tirex Resources Ltd. ('Tirex') (TSX VENTURE: TXX) is pleased to announce drill results from the Gurthi South No. 2 Zone on the company's Mirdita VMS Project in Albania. Drill hole MR10-65 intersected a thick, high grade zone of 19.3m (63.3 ft) grading 3.66% Copper, 1.13% Zinc, 8g/t Silver, and 1.2g/t Gold including 6.7m (22.0 ft) grading 7.38% Cu, 1.77% Zn, 13g/t Ag and 1.6g/t Au and including 1.0m (3.3ft) grading 12.30% Cu, 1.75% Zn, 23 g/t Ag and 2.1g/t Au. These intervals are close to true width.
MR10-65 is a step out from previous drilling on this zone and is the first hole drilled in Tirex's recently commenced phase of drilling at Gurthi South No. 2.
Summary of assay results from recent drilling at Gurthi South No. 2:
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GURTHI SOUTH No. 2 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 MR10-65
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101.5 120.8 19.3 3.66 1.13 8.3 1.2
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including
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103.0 104.1 1.1 4.57 0.18 3.0 2.8
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and
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106.0 108.0 2.0 4.78 0.37 4.5 1.0
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and
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110.6 117.3 6.7 7.38 1.77 13.3 1.6
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including
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110.6 113.6 3.0 9.56 2.17 18.0 2.4
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including
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112.6 113.6 1.0 12.30 1.75 23.0 2.1
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Drill hole MR10-65 is a step out intersection 25m east of the intersection in drill hole MR08-25 which assayed 5.9% Copper, 3.4g/t Gold and 37.5g/t Silver across 7.10m (23.3 ft) including 7.0% Copper, 3.9g/t Gold and 40.8g/t Silver across 4.70m (15.4 ft) (see Tirex news release dated January 11, 2010). The zone remains open for expansion. An updated map of the Gurthi South No. 2 drilling to date will be posted on the company website at www.TirexResources.com.
Borehole electromagnetic (BHEM) probing of drill holes in the Gurthi South area has been shown to be an effective exploration tool and additional holes in the area will use BHEM to vector in on mineralization. BHEM surveying of drill hole MR10-65 indicated an electromagnetic ('EM') anomaly continuing to the south. Initial holes testing this EM anomaly to the south of MR 10-65 have now been completed. These additional holes intersected the mineralized zone; assays are pending.
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
604-687-7165 (FAX)
info@TirexResources.com
www.TirexResources.com