Tarsis Resources Ltd.

Tarsis Resources Ltd.

October 21, 2009 17:17 ET

Tarsis Announces Additional Assays From Prospector Mountain, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 21, 2009) - Tarsis Resources (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce assay results from Phase II exploration at its 100% owned 5,000 ha Prospector Mountain property, located in southwestern Yukon, Canada. Exploration was conducted in three phases during 2009 focusing on both copper-gold porphyry and peripheral silver-lead-gold vein style mineralization. The phase II work concentrated on the reassessment of historical vein zones in the western part of the claim block where cursory sampling earlier in the season by Tarsis yielded up to 17.35 g/t Au, 557 g/t Ag and 33.80% Pb across 0.15 m as reported in a press release dated August 31, 2009. Highlights from the reassessment of four main target areas include:

 1840 g/t Ag, 28.78% Pb, 0.70 g/t Au across 0.72 m  Area A
 196 g/t Ag, 7.03% Pb, 0.73 g/t Au across 1.16 m  Area C
 58.9 g/t Ag, 2.38% Pb, 2.02 g/t Au across 0.54 m  Area C
 613 g/t Ag, 28.94% Pb, 3.51 g/t Au across 0.17 m  Area D

Follow up exploration in the western part of the property commenced in August 2009 and was centered within a 9 km2 block defining an area of historical bulldozer trenching. The historic work was largely restricted to ridge tops and its success was limited by extensive permafrost and deep weathering.

Twenty-one trenches were selected for reassessment within four areas termed A through D. Selection of the trenches was based largely upon anomalous historical results. Vein zones were deepened by hand up to a metre below the original trenched surface, detail mapped and channel sampled.

All veins examined are hosted by Late Cretaceous to early Tertiary Carmacks Suite volcanic rocks and are mostly associated with north to northeast trending recessive lineaments. The veins consist of steeply dipping highly sheared quartz and multi-colour clay gouge containing varying amounts of arsenic oxides and lead sulphide/sulphate. The following table highlights significant weighted average results from the sampled zones:

Table I – Significant Vein Results

TargetTrenchInterval (m)*Ag (g/t)Pb (%)Au (g/t)
Area ATr-09-190.3939.31.880.03
Area BTr-09-061.2642.90.500.09
Area CTr-09-010.7123.70.971.01
Area DTr-09-111.991393.251.13

* All reported intervals are true width

The 21 trenches selected for reassessment tested vein exposures associated with 11 of over 100 lineaments documented along the ridge tops. A series of auger soil sample lines were also located along 15 recessive lineaments beyond the limits of the historical bulldozer trenches off the ridge tops and down toward the valley bottoms. These sample lines outlined anomalous trends with values between 2 and 58 g/t Ag up to 400 m along strike from existing trenches. In addition, 75 samples yielding elevated arsenic, antimony and bismuth response were subsequently analysed and returned up to 3.37 g/t Au. None of the anomalous soil values have received follow up work.

Management are greatly encouraged by the positive response from the reassessment of the historical vein targets especially given the potential for additional discoveries along strike and between the existing target areas. The presence of these mineralized veins also conforms to the larger porphyry model Tarsis is developing in the eastern part of the claim block at Prospector Mountain.

Mr. William A. Wengzynowski, P.Eng, is the Qualified Person for the project as defined by NI 43-101. Mr Wengzynowski has reviewed the technical content of this release.

Investor Relations
Tarsis announces that, subject to regulatory approval, it has retained the services of Coal Harbor Communications Inc. to provide investor relations services for the Company.

The principal of Coal Harbor is Mr. Dale Paruk, an experienced investor and public relations professional. Coal Harbor will distribute news and information on Tarsis Resources and provide consistent and timely contact with the Company's shareholders, other investors and industry professionals on behalf of the Company.

Coal Harbor maintains its offices in Vancouver, British Columbia and works closely with financial analysts, advisors and investors in Canada and the United States.

Coal Harbor has been contracted for six months, commencing October 1, 2009 and will be paid $1,500 per month. If regulatory approval is obtained, Tarsis will grant options to purchase 30,000 Common Shares at $0.30 per share to Coal Harbor. The options will be exercisable for a period of five years from the date of grant and vest over one year at the rate of 25% per quarter. Coal Harbor Communications Inc. and Dale Paruk are at arm's-length to Tarsis Resources.

Stock Options
Separately, Tarsis has granted options to purchase up to 100,000 Common Shares at $0.30 per share, to a consultant to the Company. The options are exercisable for a period of five years from the date of grant.

About Tarsis Resources
Tarsis is an exploration company following the prospect generator business model, with seven mineral properties in Yukon, Canada and one in Mexico. The Company acquires prospective base metal projects when base metal prices are low or of strategic value, and vends or options out projects to partners for advancement.

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

Tarsis Capital Corp.

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 Capital Corp.
    Marc G. Blythe, P.Eng., MBA.
    President and Chief Executive Officer
    (604) 689-7644
    Tarsis Capital Corp.
    Mark T. Brown, C.A.
    Chief Financial Officer
    (604) 687-3520
    Coal Harbor Communications
    1+ (604) 662-4505 or Toll-free: 1+ (877) 642-6200
    1+ (604) 662-4547 (FAX)