Tarsis Resources Ltd.

Tarsis Resources Ltd.

September 10, 2010 09:00 ET

Tarsis Resources Ltd.: Drilling Commences at Prospector Mountain, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2010) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis") is pleased to announce that diamond drilling has commenced on its Prospector Mountain project, Yukon. Drilling is being carried out by optionee Silver Quest Resources Ltd. (TSX VENTURE:SQI) ("Silver Quest").

Silver Quest has awarded a diamond drilling contract to Apex Diamond Drilling Ltd., to complete 1,500 meters at Prospector Mountain in eleven holes.

The drill holes are designed to test mineralization underneath the Bonanza Zone, first discovered by Tarsis in 2009 and confirmed by Silver Quest during 2010. The Bonanza Zone features strongly anomalous gold, copper and silver assays from grid soil sampling within a 1,000 meter by 550 meter area, as previously disclosed. During their first phase of exploration at Prospector Mountain this season, Silver Quest collected two select prospecting samples which returned assays of 109 g/t gold and 53 g/t gold respectively. Gold assays from select rock samples ranged from below detection to 109 g/t (refer Tarsis Press Release dated August 4, 2010).

Silver Quest has an option to acquire an initial 60% interest in the Prospector Mountain property by completing the following:

  • Spending $4 million on exploration over four years (2010 - $350k must be spent)
  • Issuing one million Silver Quest shares to Tarsis (200,000 issued)
  • Making payments of $300,000 ($50,000 paid to date)

Silver Quest may earn an additional 10% interest by completing a feasibility study.

The qualified person responsible for the technical disclosure in this press release is Marc G. Blythe, P.Eng. Mr. Blythe is the President and CEO of Tarsis Resources and he has reviewed the content of this release.

About Tarsis Resources

Tarsis is an exploration company following the prospect generator business model, with fourteen mineral properties in Yukon, Canada and one in Mexico. The Company acquires projects on attractive terms, adds value and then vends or options out projects to partners for advancement.

The Company currently has 17,912,970 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 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