Tirex signs deal on Mirdita gold production

TIRANA, Sept. 7 – Canadian-based Tirex Resources has announced it has signed a deal with Turkey’s Ekin Maden to commence commercial production of copper and gold from six areas of the Mirdita District located in Albania. The Agreement stipulates that Tirex will contribute six historically known mineral deposits to a newly formed operating company (“OpCo”) in which Tirex and Ekin Maden will each hold an indirect 50 percent interest. OpCo will be managed by a technical team within Albania under the leadership of a Board of Directors that has equal representation from both Tirex and Ekin Maden. Tirex’s Mirdita project covers an area of approximately 344 km2 and is located approximately 70 km northeast of Albania’s capital city, Tirana. Tirex technical team, who now have more than 5 years of onsite experience drilling four separate areas within the District, that the Fushe Arres, Qaf Bari and Tuc deposit areas have room for significant expansion and importantly are prospective for precious metal exploitation. Tirex’s advanced stage drilling at Koshaj, Gurthi and Letitna where thick zones of copper, zinc, gold and silver rich volcanogenic massive sulphide mineralization were encountered, has demonstrated that often historical deposit reports either omit or do not recognize gold, silver and zinc mineralization, having dominantly focused on copper.