Tarsis Resources Ltd.

Tarsis Resources Ltd.

October 25, 2011 16:15 ET

Tarsis Completes Exploration Program at White River, Yukon

- 4 New Mineralized Showings Identified

- Samples Range From Below Detection to 8.98 g/t Gold

- 14 Hand Trenches Completed; Results Pending

- 27 Additional Mineral Claims Staked to Cover New Anomalies

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2011) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") has completed its 2011 exploration program at White River, Yukon, and is pleased to provide an update on recent activities and partial results.

The Company's 2011 focus has been largely directed toward expanding its detail grid soil geochemical coverage and geological understanding of the targets within the western part of the property where significant gold-copper-silver discoveries have been reported from a number of showings and zones. Additional work has also been conducted within the eastern part of the property including ridge and spur soil sampling plus subsequent follow up grid soil sampling.

The Company expects to receive additional assay data from soil and trench samples in November.

White River - West

Broad spaced grid soil sampling has now been conducted within an area roughly 4.5 by 2 km. Much of the soil sampling covers a sequence of metasedimentary and metaplutonic rocks of the Slide Mountain Terrane (SMT) that overlie metasedimentary successions of the regionally extensive Yukon Tanana Terrane (YTT). Both terranes are locally intruded by mid-Cretaceous granodiorite of the Nisling Range and younger felsic porphyry dikes.

Previously reported copper-gold-silver mineralization at the HG and Cool zones (See News Release dated August 3, 2011) are best characterized by copper (>50 ppm)-, arsenic (>50 ppm)-, and gold (>20 ppb)-in-soil geochemistry. These anomalous thresholds persist over an area some 2.5 by 1.5 km that is largely coincident with the surface expression of the SMT strata. Gold-in-soil values are coincidentally anomalous (>20 ppb) within this area and also form significant anomalous clusters in the peripheral underlying YTT stratigraphy.

Infill soil sampling at 50 by 50 m spacing within a 1.5 by 1.5 km block of the main soil sample grid has highlighted very specific moderate to strongly anomalous gold, arsenic and copper trends. The strongest trends (HG and Cool zones) are coincident with easterly oriented recessive lineaments up to 10's of meters wide while less prominent secondary trends are associated with northeasterly oriented lineaments. These trends have been verified by detailed ground based lineament mapping. Additional infill sampling has been completed within two adjoining blocks totaling 2.5 km2, results for which are pending.

Follow-up prospecting of a number of soil geochemical anomalies has resulted in the expansion of the HG and Cool zones plus the discovery of four new showings.

Prospecting along strike at both ends of the HG and Cool zones discovered locally derived talus yielding significant gold-copper-silver values. Mineralization varies from small pieces of limonite- goethite often with malachite staining to partially oxidized gabbro to rusty weathering silicified gabbro/metasedimentary talus with fine disseminated arsenopyrite. The significant prospecting results along the trends of the Cool and HG zones are listed in Table I.

Table I – Cool and HG Zones

Zone Sample Type Gold (g/t) Silver (g/t) Copper (%)
Cool Limonite 8.98 23.0 0.76
Limonite - 18.7 -
Limonite - 26.3 0.29
Limonite 0.35 82.7 2.93
HG Gabbro + aspy 7.75 - -

These prospecting results have extended the known mineralization at the Cool and HG zones in excess of 500 and 300 m, respectively.

In addition to the pending infill soil sampling peripheral to the main grid area, fourteen hand trenches were located at strategic sites along the HG and Cool zones plus a number of spot anomalies between the two zones. Trench sample results are pending.

Four new showings were identified while prospecting lineaments and coincident soil geochemical anomalies. The MB and BW showings are situated between the Cool and HG zones. Mineralization at the MB Showing consists of dark brown limonite/goethite talus with malachite coatings concentrating in frost heaves along one of several northeasterly trending lineaments mapped in the area. Mineralization at the BW Showing consists of dark brown to pale orange limonitic gabbro believed to be associated with an easterly trending lineament parallel to the Cool and HG zones.

The remaining two showings, MS1 and MS2, are situated 700 and 550 m southwest and south of the HG Zone, respectively. These showings are interpreted to occur largely within the upper metasedimentary sequence of the YTT near the contact with the overlying SMT rocks. Mineralization consists of fine- to medium-grained disseminated arsenopyrite plus minor chalcopyrite within large angular blocks of moderately texturally destructive silicified metasedimentary host rocks. Significant prospecting results from the four new showings are listed in Table II.

Table II – MB, BW, MS1 and MS2 Showings

Zone Sample Type Gold (g/t) Silver (g/t) Copper (%)
MB Limonite 3.11 391 0.80
Limonite 0.41 173 0.88
BW Limonitic Gabbro 1.00 - 0.20
MS1 Metasediments 1.45 31.2 0.41
Metasediments 1.11 9.5 0.28
Metasediments 0.55 8.7 0.18
Metasediments - 45.9 0.90
MS2 Metasediments 1.11 - -
Metasediments 0.88 - -

Two broadly spaced north trending reconnaissance survey lines were established to collect detailed ground based magnetic and induced polarization (IP) data across the HG and Cool zones. The survey was centered over the two zones and extended well past the surface expression of the strongest soil geochemical anomalies. Results for these surveys are pending.

White River - East

The eastern part of the property occupies a similar geological/structural setting as described in the west. Approximately 400 ridge and spur reconnaissance soil samples were collected during the first phase soil sampling program. This work identified five sites anomalous for gold (below detection to 278 ppb) and/or copper (6 to 278 ppm). As a result twenty-seven mineral claims were subsequently added to the property to cover the anomalies and approximately 800 grid soil samples were collected for which results are pending.

All field work for the 2011 field season is now complete and numerous assay results are pending for rock, trench and soil samples.

Marc Blythe, President & CEO commented: "We are very pleased with the progress that has been made at White River this season and the way key zones have been confirmed and extended. The property now features compelling drill targets which can be tested early in the 2012 season. We also managed to source most of our labour from communities close to the project which is especially pleasing."

Tarsis is working to find an Optionee partner with demonstrated technical and financial capability to undertake the next levels of exploration at White River.

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, with mineral properties in Yukon, Canada and Mexico. The Company acquires projects on attractive terms, 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