Tarsis Resources Ltd.
TSX VENTURE : TCC

Tarsis Resources Ltd.

November 11, 2013 09:00 ET

Tarsis Channel Samples 220 g/t Silver and 4.74% Lead Over 6.40 m at Tim, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 11, 2013) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce assay results from its road accessible Tim property, located in southern Yukon. During September 2013, a short, focused work program was conducted to re-evaluate an historical zone of silver-lead rich Carbonate Replacement Mineralization (CRM) exposed by mechanized trenching in 1988. Historical chip sampling across the zone reportedly returned 352 g/t silver and 9.12% lead across 4.00 m. In addition to this exposure, similar mineralization was also reported in adjacent trenches 180 and 250 m on either side of the central trench and no drill testing has ever been undertaken on this zone.

Tarsis' field crew relocated the central historical trench (T-3) and exposed the main mineralized showing with the use of hand tools. A total of 6.4 m of footwall alteration and CRM were exposed at the base of the trench. Three series of sawn channel samples were taken across the exposure at approximately 1 m spacing between channels. The central channel tested a partial exposure of footwall alteration and the CRM while the outer channels only tested the partially exposed CRM. Weighted average assays for each of the channel series are shown below.

Table I - Central Trench T-3 CRM Results

Channel Interval (m) Silver (g/t) Lead (%)
Central 6.40 220 4.74
Including 3.70 365 7.54
including 0.70 976 8.32
West 2.70 269 8.23
including 0.70 829 7.94
East 2.50 280 10.28
Sample Intervals are true width

Elevated accessory elements in the mineralized zone include zinc, arsenic, antimony, bismuth, indium, gold and tin. Gold values in particular were elevated between 200 and 700 ppb and indium values range from 1.5 ppm to 500ppm with an average of 225 ppm. All zinc assays were <1% likely due to near surface leaching.

The CRM at this particular locale is hosted within a steep southeasterly dipping structural zone and is dominantly comprised of manganiferous iron carbonate and porous dark brown limonite. Hand trenching did not expose the hangingwall contact of the mineralized zone due to slough and extensive downslope cover.

Historical soil geochemical response defines three distinct linear northwest trending silver-lead anomalies, each of which is continuously defined for a strike length of roughly 2,000 m. All historical trenching was conducted along the trace of the central geochemical anomaly but the soil sample coverage was not completed over the mineralized zone encountered in trench T-3 or northwest along strike.

History

The Tim property was initially staked in 1983 to cover silver-lead-zinc stream sediment geochemical anomalies and a favourable geological environment with potential for carbonate-hosted mineralization similar to that at the nearby Midway/Silvertip project owned by Silvercorp Metals Inc.

Soil sampling, stream sediment sampling, geophysical surveys and trenching were carried out during the 1980's; however the property was not drill tested at that time.

Tarsis acquired the property in 2007 and subsequently optioned it to International KRL Resources (now Acme Resources Inc.) which carried out a limited five hole diamond drill program in 2008, largely targeting Induced Polarization geophysical anomalies. The nearest drill hole to the central trench T-3 mentioned above is located roughly 520 m away and was drilled parallel to the interpreted downdip orientation of the mineralized zone.

Sawn samples were approximately 4 cm in width, resulting in relatively large samples per interval, which the Company believes improves the reliability of the sampling. Samples were delivered to ALS Minerals in Whitehorse, Yukon for sample preparation and all analyses were completed in North Vancouver. Silver and 50 other elements were analysed using ICPMS techniques.

The technical information contained in this press release was prepared under the supervision of Mr. Marc G. Blythe, P.Eng., the President and CEO of Tarsis Resources Ltd. Mr. Blythe is a Qualified Person as defined by NI 43-101.

About Tarsis Resources

Tarsis is an exploration company following the prospect generator business model. The Company acquires prospective exploration projects by acquisition or through its own grass roots generative exploration, adds value and then vends or options out projects to partners for advancement.

On behalf of the Board,

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

This news release was prepared by Company management, which takes full responsibility for content. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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

    Tarsis Resources Ltd.
    Mark T. Brown, C.A.
    Chief Financial Officer
    (604) 687-3520
    info@tarsis.ca
    www.tarsis.ca