Tarsis Resources Ltd.

Tarsis Resources Ltd.

October 02, 2013 16:15 ET

Tarsis Confirms High-Grade Gold Values at Yago, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 2, 2013) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce exploration and assay results from its Yago gold-silver property, located in Nayarit State, Mexico.

During August 2013, a focused orientation was conducted at two historical locations referred to as La Tejona and La Sarda within the central and northern parts of the property, respectively. At both sites, previously reported vein zones were re-exposed and channel samples were collected using a diamond blade rock saw.

Highlights from within broadly mineralized intervals from the sawn channel sampling include:

  • 13.65 g/t gold and 57.4 g/t silver across 0.37 m at La Tejona
  • 10.40 g/t gold and 92.5 g/t silver across 0.52 m at La Sarda

Weighted average results for all continuous channel samples collected have been tabulated for each of the target sites below and photographs of a variety of samples can be reviewed on the Tarsis website.

Tarsis President & CEO, Marc Blythe, stated, "We are very encouraged with the results of our first work program at Yago, particularly the potential widths of the vein system interpreted at La Tejona, in excess of 15 meters, coupled with the presence of multi-gram gold values at numerous locations on the property."

La Tejona

The La Tejona prospect is defined by a fairly well constrained gold-in-soil geochemical anomaly with the majority of the gold threshold values exceeding 100 ppb to a maximum of 980 ppb. The main anomaly trends north-easterly for approximately 1,700 m and is open along strike to the southwest. Anomalous response tapers to the northeast into a valley bottom and beneath cover rocks.

Prospecting along the surface trace of the main La Tejona gold anomaly by previous operators identified intermittent accumulations of quartz vein float, subcrop and outcrop in excess of 10 m widths at a number of locations. The largest concentrations of this material are contained within the southern portion of the anomaly but surprisingly, very little to no sampling of this material is documented. A possible reason for the lack of sampling is that most material appears to be chalcedonic/opalescent in character and more indicative of silica deposition above the gold-rich zones in these systems.

At the northeast end of the main anomalous trend, a 55 m outcrop exposure of quartz vein material obliquely bisects the gold-in-soil anomaly along a narrow drainage. The vein zone strikes north-northeast to northeast and dips moderately to steeply toward the southeast between 53 and 72 degrees. Previous chip sampling across a number of natural exposures along the creek returned mixed results for gold ranging from 2 ppb to 4.18 g/t over 0.90 m sampled. Silver grades were in turn highly variable ranging from below detection to 212.8 g/t across 0.90 m.

Tarsis collected two series of sawn channel samples across partial outcrop exposures of banded and brecciated epithermal quartz vein material. Significant assay results are shown in Table I:

Table I - La Tejona Sawn Channel Sample Results
Trench Width
LT-13-01 2.88 3.10 35.6
including 0.85 8.49 29.9
including 0.57 13.65 57.4
LT-13-02 4.83 2.22 50.2
including 2.14 4.34 95.2
*sawn sample widths believed to represent approximately 85% of the true vein thickness.

The two sample sites were located 12 m apart and started at or near the hanging wall contact of the vein. LT-13-01 contained 10 samples totalling 5.29 m while LT-13-02 contained 9 samples for a total of 6.17 m. Each channel ended in vein material and both series of samples returned elevated gold values in excess of 0.70 g/t from the last sample collected toward the footwall, indicating that additional sampling is required.

Textures observed on freshly cut vein surfaces consist of: multiple phases of colloform banded quartz-adularia accompanied by irregular bands of rimming fine black sulphide; and hydrothermal breccias both containing quartz clasts and/or cut by at least one later generation of quartz veining. Some cut surfaces also exhibit relatively coarse accumulations of pyrite, galena and chalcopyrite.

Mapping during the site visit suggests the vein zone at this particular location could exceed 15 m true thickness and the samples collected by Tarsis only tested a limited portion of the mineralization near the hanging wall contact.

Cursory prospecting was carried out roughly 1,200 m southwest along trend of the main gold-in- soil anomaly within an area previously mapped to contain a significant concentration of quartz vein float; however no previous sampling of the material is documented. An examination of the area by Tarsis identified a combination of chalcedonic/opalescent quartz and silicified/hydrothermally altered wallrock containing moderate limonite and hematization across an approximate 15 m section of the slope. Two 6 m composite samples were collected across the float train and one of these composites returned 0.42 g/t gold.

La Sarda

At La Sarda, at least four sub-parallel northeast trending vein structures have been identified and intermittently explored by a number of operators as described in a previous News Release dated August 12, 2013.

The La Esperanza Vein was the focus of Tarsis' 2013 orientation at La Sarda and was designed to follow up a number of recent chip samples (2006) taken along strike from the site of historical gold-silver production. Of the three veins previously mined, the La Esperanza was the least developed with reported production of approximately 3,000 tonnes. The average width of the vein mined was 1.2 m and the average grade was reported to be 8.13 g/t gold and 68.73 g/t silver based on 308 samples collected underground.

Three historical sample sites were located along a 600 m section of the La Esperanza Vein which has a known extent of 1,200 m. Sites Esp A and C are located 500 m northeast along strike from the known production and site Esp 67 is located 150 m southwest of the production adits.

Sawn channel samples were completed across vein zones ranging between 0.55 and 3.55 m. Significant assay results are listed in Table II:

Table II - La Sarda Sawn Channel Sample Results
Trench Width
Esp C 3.55 2.42 16.7
including 1.25 4.82 32.9
Esp A 0.55 6.06 36.0
including 0.27 10.50 61.1
Esp 67 0.90 7.46 94.9
including 0.52 10.40 92.5
* Sawn widths are believed to represent true vein thickness

The La Esperanza Vein exhibits steep dips ranging from 70 to 80 degrees to the southeast. Vein material is dominantly quartz breccia with colloform banded quartz-adularia clasts and grey to white non-banded quartz clasts sometimes rimmed with fine black sulphide. Breccia matrix is commonly hematized with lesser limonite.

A selection of photographs showing the vein textures of samples collected from both the La Tejona and La Sarda sites is available at http://www.tarsis.ca/index.php/projects/key-properties/yago-mexico. Elsewhere on the property, only a very limited peripheral inspection was conducted due to the extensive seasonal vegetation cover and time constraints.

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 at Guadalajara for sample preparation and all analyses were completed in North Vancouver. Gold values were determined using 30 gram fire assay and other elements were analysed using 51 element ICPMS techniques.

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