Tarsis Resources Ltd.
TSX VENTURE : TCC

Tarsis Resources Ltd.

August 14, 2013 16:15 ET

Tarsis Commences Exploration at Yago Gold-Silver Property, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 14, 2013) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce it has commenced exploration at its Yago gold-silver property, located in Nayarit State, Mexico. Tarsis recently acquired a 100% interest in the project from Almaden Minerals Ltd. (TSX:AMM)(NYSE MKT:AAU) ("Almaden"). The claims are located approximately 50 km from the state capital Tepic and feature excellent infrastructure including paved highways and electrical transmission lines.

The project encompasses 15,000 hectares and hosts numerous gold-silver bearing low sulphidation epithermal vein showings and artisanal mine workings largely concentrated in two parts of the property referred to as La Sarda and La Tejona. Historical and recent small scale mining have been conducted at La Sarda while only minor historical mining is evident at La Tejona, 7 km to the southeast. Sporadic exploration has been carried out within both target areas by a number of different junior operators between 1998 and 2007. The culmination of this work at La Sarda and La Tejona has identified surface and subsurface mineralization intermittently over 3 km2 and 2.5 km2, respectively.

Prior work by Almaden and others indicate that both areas feature a high-level epithermal environment characterized by chalcedonic/opalescent silica and acid sulphate alteration in conjunction with reportedly low fluid inclusion microthermometry temperatures. Mineralized samples from lower elevations display typical colloform quartz-adularia banding; some with finely banded black sulphide and others with multiple phases of hydraulic brecciation.

La Sarda

At La Sarda, at least four sub-parallel vein structures have been identified within a 2,000 m by 1,500 m area. These vein structures are named La Sarda, Esperanza, Magnolia and Cucaracha respectively. Each has been mined historically to some degree with the greatest concentration of work directed at the La Sarda vein which has reportedly produced approximately 85,000 tons. Modern exploration carried out by Almaden and others consists of coarsely-spaced soil geochemical surveys, induced polarization (IP) surveys and very limited drill testing.

Mining at La Sarda was carried out on a small scale up until the year 2000 and historical records show that during a one year period (1997) mine production of 24,000 tons grading approximately 10 g/t gold was achieved. Tarsis cautions that insufficient work has been carried out by a Qualified Person to confirm the historical production or sampling and as a result investors should not rely on this information.

La Tejona

At La Tejona, a number of historical shafts and adits have been excavated, however little is known of the quantity or quality of the material extracted. Exploration by Almaden and others included coarsely-spaced soil geochemical surveys, IP surveys and limited drill testing.

Tarsis plans to conduct a broad orientation of the two target areas and collect confirmation channel samples at a number of strategic sites primarily focusing on in-situ vein exposures to improve the geological interpretation of key mineralizing structures. Some of these sites include in-situ vein exposures with reported widths of 15 m. The company plans to utilize a diamond blade rock saw to cut across these vein exposures and obtain uniform representative samples approaching the reliability of large diameter diamond drill core. The cut surfaces will also allow for better observation of internal vein composition including distribution of colloform banding and hydrothermal breccia phases.

The technical information contained in this press release was prepared by 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