Tirex Provides Drilling Update
* Reuters is not responsible for the content in this press release.
VANCOUVER, BRITISH COLUMBIA, Oct 29 (MARKET WIRE) --
Tirex Resources Ltd. (TSX VENTURE: TXX) -
- Drilling continues at Letitna with large step outs
- Letitna remains open for expansion in every direction (north, east,
south, west)
- Second drill continues on East Slope Trend with new discovery focus
Tirex Resources ("Tirex") is pleased to provide an update on drilling at
Letitna.
The company is currently awaiting assays for multiple holes drilled along
255m of strike length on the Letitna Zone. Letitna is open for expansion
in all directions and several assays reported to date have included wide
intersections of copper, zinc, gold and silver mineralization including
46m (151 ft) of 0.70% Cu, 2.68% Zn, 20.8 g/t Ag and 1.6 g/t Au including
11.1m of 2.18% Cu, 3.80% Zn, 38.0 g/t Ag and 4.0 g/t Au including 2.0m of
2.54% Cu, 6.74% Zn, 18.3 g/t Ag and 14.1 g/t Au (see Tirex news release
dated July 13, 2009 for details).
Currently the drill is finishing one more hole near the north of the
current drill grid at Letitna and then will be moving north, to drill a
150m step out along strike to the north. Drilling at Letitna is targeting
large tonnage potential in the area.
In addition to drilling at Letitna, a second drill has started drilling
on the East Slope Trend. This is a new area first identified when Tirex
flew Albania's first ever airborne geophysical survey. Subsequently field
crews conducted intense groundwork in the area including geochemistry,
detailed mapping and ground geophysics to define drill targets. Drilling
on the East Slope is focused on the new discovery potential of the area.
Bryan Slusarchuk, CEO, states, "Deciding to drill a 150m step out hole at
Letitna is indicative of our technical team's belief that Letitna has the
potential to host significant size. Drilling to date, on a tighter grid
pattern to build mineral resources, has demonstrated good continuity and
the zone remains open in every direction."
Tirex is a company purpose-built to explore and develop the large 553
square kilometer Mirdita District in Albania. The nature of the VMS
mineralization in this District provides Tirex investors with exposure to
a high grade basket of metals: Copper, Zinc, Gold and Silver. The
property is readily accessible by paved and gravel roads and is located
70 km north of the capital city of Tirana. The property covers the core
of the historically productive Mirdita VMS base metal district. It
represents an opportunity to explore Copper, Zinc, Gold and Silver zones
that were previously partially mined, explored or evaluated at lower
metal prices, and provides an opportunity to apply modern exploration
techniques toward the discovery of new VMS deposits and extensions of
known zones. In addition to the 17 historical deposits identified by
previous state-run exploration, Tirex has identified numerous high
priority exploration targets resulting from the 2007 airborne geophysical
survey, ongoing ground geophysics, geological mapping and other field
work. The Mirdita exploration project is managed by an experienced team
of Canadian geologists and other professionals, and several senior
Albanian geologists, geophysicists and surveyors.
George Gorzynski, P.Eng., a Qualified Person under the meaning of
Canadian National Instrument 43-101 and Mirdita Project Manager, is
responsible for the technical content of this news release.
Further details on the company and the Mirdita Project can be found on
the Tirex website at www.TirexResources.com.
ON BEHALF OF THE COMPANY
Bryan Slusarchuk, CEO and Director
Forward-Looking Statements. This Tirex News Release may contain certain
"forward-looking" statements and information relating to Tirex which 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 Slusarchuk
CEO and Director
604/687-7160 or Toll Free: 1-877-687-7160
604/687-7165 (FAX)
info@tirexresources.com
www.tirexresources.com
Copyright 2009, Market Wire, All rights reserved.
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