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Tirex Resources – Mirdita

Tirex Resources was established to explore Albania’s Mirdita district, which it believes is one of the last unexplored volcanogenic massive sulphide (VMS) districts in the world. Under dictator Enver Hoxha, Albania was cut off from the world for almost 50 years following World War II. There was very little information flow into or out of the country, which meant while geologists around the world developed key tools such as electromagnetic, induced polarization, and magnetic surveys to hunt for VMS mineralization, Albanians were left out of the loop. Even so, Albanian geologists found 17 VMS deposits in the Mirdita district and put nine of them into production. But Hoxha’s focus on copper limited production possibilities; his death then put the whole country, including the mining industry, into chaos for many years. Now Albania is a stable democracy actively seeking international investment and Tirex has staked the entire 344-sq. km district. Early results were promising enough for the European Bank for Reconstruction and Development to recently sign on to provide €6 million in financing to help advance Tirex’s efforts.

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