12 August, 2017

Tirex Resources mining license for high grade Rehova Albania copper project approved

Tirex Resources Ltd.很高兴地报告说，阿尔巴尼亚的Rehova采矿物业的采矿许可申请已获得能源和工业部的批准。采矿许可有效期为25年，可以延长10年。

Tirex acquired the rights to Rehova after it won the bidding process held by the government of Albania in 2015. The processing of the mining license application stalled when a private company questioned the legality of the government’s action to nullify the exploration license it had on Rehova for failure on its part to meet work the obligations on the property several years prior to the bidding of Rehova in 2015.

This issue has now been settled by the Albanian courts which led to the recent approval of the license.

Spiro Kletas, Tirex Chief Executive Officer, states, “After a very long and difficult time period for Tirex, today represents the start of a new era for the company. With the news on licensing at Rehova and a healthy macro environment for copper, there is much to look forward to for Tirex and our shareholders.”

southe Rehova位于114公里直线距离ast of Tirana or 200 kms by road and is on the electrical power grid. The mining property contains four historical VMS deposits. These are surrounded by exploration areas of interest that have not yet been systematically tested using modern exploration techniques and technology. The four known deposits called Bregu i Geshtenjes, Rehova-Kanisqel, Çiflig and Dushku i Trashe comprise the Rehova Copper Mine, a historically producing mining operation which was formerly operated by the Albanian state copper enterprise. These deposits are relatively close to each other (200m-500m apart) which made ore delivery to a single processing facility possible.

Prior to the start of production in 1980 the Albanian Geological Survey had defined combined mineralization in the four deposits of 3.43 million tons grading 2.17% copper* and by the time operations stopped in 1990 had 2.87 million tons grading 2.14% copper* remaining. The majority of the remaining mineralization consisting of 2.09 million tons grading 2.15% copper* were from B&G, which was not mined and has exploration potential beyond the historic drilling. Underground development workings had been started at B&G as the deposit was being prepared for mining when the state run mining enterprise shut down its mining operations country-wide at the time of the collapse of communism.

Çiflig and Dushku i Trashe were mined by underground method while Rehova-Kanisqel was mined by open pit and to a limited extent by underground. The materials mined were sent to a processing plant nearby with an annual capacity of 60,000 tons. It should be noted that the largest deposit, B&G has not been mined.

Tirex将在B＆G，çiflig和Dushku I Trashe沉积物中评估地下开发和采矿机会，同时评估近地面Rehova-Kanisqel沉积物的开放坑开采。在潜在的未来矿山计划的概念基础上，在Rehova-Kanisqel开放矿井矿山的可能性可能会提供有针对性的加速生产途径，而较大的存款B＆G正在开发。

*上述吨位和等级估计本质上是历史性的，是从阿尔巴尼亚政府提供的信息中获得的。AGS历史计算将C1和C2类别组合的估计分类为基于俄罗斯存款报告系统，并且大致相当于NI 43-101推断和指示的类别。这些历史估计不符合NI 43-101，不应依靠。没有合格的人做足够的工作来将历史估计分类为当前的矿产资源；Tirex并未将历史估计视为当前的矿产资源。Tirex仅用于信息目的的历史估计，并且对估计的可靠性没有保证。Tirex将需要对可用数据进行全面审查，包括Tirex的计划钻探，以验证历史性估计并将其归类为当前资源。

Tirex also plans to study the economics of developing the Rehova property as a stand-alone mining and processing operation. Most historic facilities such as the processing plant equipment and mining equipment have been removed from the site but in addition to the underground development that exists, infrastructure such as good roads, mill foundations, tailings area and electrical power lines are still in place.

Tirex President, Fred Tejada, P.Geo, states “The approval of the license will finally allow Tirex to move ahead with its plans on Rehova which has been on hold while the court case was being heard. With this license we can begin work on Rehova and update our plans on our Mirdita assets in northern Albania which has also been put on hold as we wait for the resolution on Rehova.”

Source: newswire