Tarsis Capital Corp.
TSX VENTURE : TCC

Tarsis Capital Corp.

October 02, 2007 12:05 ET

Tarsis Capital Corp. Announces Additional Staking at Goz Creek Zinc Deposit and Plans Further Exploration of the Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 2, 2007) - Tarsis Capital Corp. (TSX VENTURE:TCC) ("Tarsis") is pleased to announce that it has increased the size of its Goz Creek property to approximately 1,850 hectares by staking an additional 76 claims and acquired the Walt Ridge prospect 4 km to the east . The Goz Creek property hosts a Mississippi Valley Type (MVT) zinc deposit and is located 180 kilometres northeast of Mayo in central Yukon.

The Goz Creek Deposit was discovered in 1973 by Barrier Reef Resources, which explored the property between 1973 and 1975 with geological mapping, geochemical soil and rock sampling and diamond drilling in 55 holes. This work outlined a mineral resource reported to contain:



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Ore Tons Zinc Grade (%) Contained Zinc (lbs)
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2,893,000 11.25 650,925,000
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The resource is non NI 43-101 compliant. A qualified person has not completed sufficient work to classify the historical estimate as current mineral resources. Tarsis is not treating the historical estimate as a current mineral resource. The historical estimate should not be relied upon.

Significant drill intercepts recorded from the historical drill campaigns include 29.9 meters grading 33.75% zinc and 49.4 meters grading 22.92% zinc. Details of these significant historical drill intercepts will be published on the company's website shortly.

In August 2007, Mr Bill Wengzynowski, P.Eng., of Archer Cathro and Associates (1981) Limited visited the property at the request of Tarsis. During the site visit it was noted that a significant proportion of the 1974 - 1975 drill core is stored near the property.

Three intervals of drill core that were accessible from partially collapsed core racks were collected from hole BAF 74-46 and removed from the property for display in the company's office. The portions collected in-part coincide with the following historical sample intervals:



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Hole From (ft) To (ft) Interval (ft) Interval (m) Zinc %
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BAF 74-46 171 177 6.0 1.83 38.65
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BAF 74-46 358 363 5.0 1.52 6.20
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BAF 74-46 363 368 5.0 1.52 13.50
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BAF 74-46 383 390 7.0 2.13 22.09
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BAF 74-46 390 395 5.0 1.52 18.76
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The true thickness of these intersections is unknown.

Several surface rock samples were also collected from the main and peripheral showings and have been submitted for assay at ALS Chemex Laboratories in North Vancouver. Results are pending. The company is currently reviewing the historical data at the Goz Creek Deposit and planning a confirmatory drill program to allow for an NI 43-101 compliant resource to be estimated.

Review of the historical data in this area identified a significant zinc-in-soil geochemical anomaly measuring 2,000 meters by 500 meters with zinc grades reportedly up to 17,000 ppm on Walt Ridge located 4 kilometres east of the main zone at Goz Creek. The Walt Ridge target was included in the recent claim staking and is believed to be underlain by the same stratigraphic package hosting the Goz Creek Deposit. A 12 hole diamond drill program was recommended at this target in 1976 but was never implemented. Tarsis is planning a drill program to assess this target as part of its 2008 exploration program at Goz Creek.

Historical assays for both drill core and geochemical soil samples from Goz Creek focused almost entirely on zinc, with very few assays for lead, silver or other minerals. In 2002, six rock samples were assayed for lead, cadmium, silver, antimony, gallium and germanium. Four of the six samples returned germanium assays between 80.4 and 154.6 g/t. Tarsis intends to evaluate the potential for lead, silver and germanium as part of its future programs on the property.

President and CEO, Marc Blythe stated, "The first step for this property is to estimate and publish an NI 43-101 compliant resource. Then we can look at the potential for increasing the tonnage of the resource. The historical assays feature some amazingly high grades and we are looking forward to exploring the property further."

Mr. Bill 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 news release but cannot attest to the validity of pre-2007 exploration or assay results.

On behalf of the Board of Directors

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
    Email: info@tarsis.ca
    Website: www.tarsis.ca