Tarsis Resources Ltd.
TSX VENTURE : TCC

Tarsis Resources Ltd.

September 09, 2009 16:30 ET

Tarsis Acquires Properties From Strategic Metals Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2009) - Tarsis Resources (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to advise that it has acquired a 100% interest in two mineral properties from Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic"). The two mineral properties are located in Yukon, Canada and both are prospective for zinc and other base metals.

MOR Property Expansion

The Highway Property consists of six mineral claims that lie approximately one kilometre southwest of Tarsis' MOR Property, which features volcanogenic hosted massive sulphide (VHMS) mineralization in stacked horizons up to 7.80 m thick. The Highway claims are immediately adjacent to the Alaska Highway, 30 kilometres east of Teslin, Yukon.

The Highway Property covers a similar package of Yukon Tanana Terrane stratigraphy adjacent to the MOR claim block that is a prospective host for VHMS type mineralization. During 2007, Strategic conducted helicopter borne Vertical Time Domain Electro Magnetic (VTEM) surveys over the property. A strong linear EM anomaly was identified but no additional modeling was undertaken to better define the target and no diamond drilling has tested this target.

Tarsis intends to incorporate the Highway property into its MOR property for future exploration campaigns.

Cord Property

The Cord Property consists of twelve mineral claims located approximately 80 kilometres northeast of Tarsis' Goz Creek property in eastern central Yukon.

The property is underlain by clastic and carbonate sedimentary sequences of the Early Proterozoic Wernecke Supergroup, which are prospective hosts for stratiform zinc-lead mineralization. These rocks are interpreted to occupy a similar geological setting to the Century, McArthur River and Mt. Isa deposits in Australia.

Previous work on the claims includes geochemical and geophysical surveys.

Consideration

The company will issue 10,000 common shares of Tarsis stock to Strategic as payment for a 100% interest in the two properties upon acceptance for filing by the TSX Venture Exchange.

Tarsis has agreed to grant Strategic a 2% NSR on any future production from the mineral claims acquired as discussed above.

The technical content of this press release has been reviewed by Marc G. Blythe, P.Eng., a Qualified Person as defined by NI 43-101.

Tarsis is an exploration company following the prospect generator business model, with seven mineral properties in Yukon, Canada and one in Mexico. The Company is seeking joint venture partners for its properties.

The Company currently has 14,867,970 shares issued and outstanding.

Tarsis Resources Ltd.

Marc G. Blythe, P.Eng., MBA, President and Chief Executive Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Tarsis Resources Ltd.
    Marc G. Blythe, P.Eng., MBA
    President and Chief Executive Officer
    (604) 689-7644
    or
    Tarsis Resources Ltd.
    Mark T. Brown, C.A.
    Chief Financial Officer
    (604) 687-3520
    info@tarsis.ca
    www.tarsis.ca