Tarsis Resources Ltd.

Tarsis Resources Ltd.

August 06, 2009 16:49 ET

Tarsis Explores Prospector Mountain, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 6, 2009) - Tarsis Resources (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce that it has commenced an early stage exploration program at its 100% owned Prospector Mountain property, located in the Tintina Gold Belt, Yukon, Canada.

The Prospector Mountain property consists of 239 mineral claims (Approximately 4,996 hectares), located 90 kilometres northwest of Carmacks, Yukon. Other significant properties in the area include Capstone Mining's operating Minto copper mine, 30 kilometres to the northeast and Western Copper's Carmacks project, currently in the permitting phase for mine operation, 55 kilometres to the southeast. In addition, Northern Freegold Resources is conducting extensive exploration on its Freegold Mountain property, located 15 kilometres to the southeast.

The Prospector Mountain property lies within the Dawson Range portion of the Tintina Gold Belt and covers a broad area of hydrothermal alteration and mineralization indicative of both porphyry copper-gold and epithermal gold-silver mineralizing environments. Copper-gold mineralization and K-silicate altered Cretaceous intrusive rocks outcrop and subcrop within the eastern part of the project area, while epithermal style quartz veins historically yielding high silver and gold values are documented in the western part of the project area.

The Company is carrying out prospecting, mapping and geochemical surveys on the property to better assess the historical targets and define future drill targets.

Tarsis has applied for and been granted YMIP (Yukon Mining Incentive Program) funding for the Prospector Mountain project. Tarsis may claim up to $26,250 in incentive payments, which match expenditures on a dollar for dollar basis for approved exploration expenditures.

Mr. William A. 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 release.

About Tarsis Resources

Tarsis is an exploration company following the prospect generator business model, with seven mineral properties in Yukon, Canada and one in Mexico. The Company acquires prospective base metal projects when base metal prices are low or of strategic value, and vends or options out projects to partners for advancement.

The Company currently has 14,867,970 shares issued and outstanding.

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
    Tarsis Capital Corp.
    Mark T. Brown, C.A.
    Chief Financial Officer
    (604) 687-3520