Tarsis Resources Ltd.

Tarsis Resources Ltd.

November 02, 2009 16:10 ET

Tarsis Samples 82.2 g/t Gold, 5.97% Copper and 888 g/t Silver on Porphyry Target at Prospector Mountain, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire – Nov. 2, 2009) - Tarsis Resources (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce assay results from Phase III of its 2009 exploration program at its 100% owned 5,000 ha Prospector Mountain property, located in southwestern Yukon, Canada. Exploration during this final phase of work concentrated on the continued reassessment of the historical porphyry target in the eastern part of the claim block where cursory prospecting earlier in the season yielded up to 27.6 g/t Au, 910 g/t Ag, 1.37% Cu and 28.01% Pb from locally weathering vein talus as reported in a press release dated August 31, 2009.

Prospecting traverses focused primarily on alteration mapping within a 4 km2 area containing historical airborne radiometric anomalies and widespread intermittent copper-in-soil geochemical anomalies. This work discovered a number of new showings collectively referred to as the Bonanza Zone. Highlights from this sampling include:

  • 82.8 g/t Au , 299 g/t Ag and 1.49% Cu
  • 14.0 g/t Au , 1340 g/t Ag and 11.65% Cu
  • 55.7 g/t Au , 1375 g/t Ag and 7.38% Cu
  • 82.2 g/t Au , 888 g/t Ag and 5.97% Cu

The Bonanza Zone hosts a series of high grade gold-silver-copper showings along a 1,200 m northwesterly structural trend near the eastern contact between potassic altered Prospector Mountain Suite monzonite and overlying Carmacks Suite volcanic rocks. Vein talus ranging from 5 to 35 cm thickness collected from eight sites along the trend is mostly comprised of multiple pulse vuggy quartz and quartz breccia with varying combinations of accessory earthy to specular hematite, black tourmaline, hematized siderite and limonite. A number of samples also contain malachite and azurite either as breccia clasts, matrix filling and later fracture filling. Only rare occurrences of pyrite and chalcopyrite are noted within the samples.

The following Table lists significant results for vein material collected along the trend of the Bonanza Zone during the phase III sampling campaign and the accompanying map shows their locations (to view the attached map, please click on the following link: http://media3.marketwire.com/docs/TCCC1102.pdf).

Table of Significant Results
Bonanza Zone

Sample # Au (g/t)Ag (g/t)Cu (%)
H886454 0.73 0.4-
H88645723.3 586 0.22
H88645882.8 299 1.49
H88645935.2 981 3.08
H88646065.5 86.6 0.60
H886467 0.83 3.4-
H88646823.2 4.9-
H88647455.71375 7.38
H88647582.2 888 5.97
H886476 8.52 136 0.52

In addition to the metals reported above, most samples within the Bonanza Zone also yielded strongly elevated bismuth (to greater than 1%) and variably elevated arsenic (to 3490 ppm), antimony (to greater than 1%) and lead (to 2400 ppm). Exceptions within this suite of samples are: H886468 which is comprised of vuggy quartz-tourmaline and believed to be associated with a more northerly trending cross-cutting structure; and samples H886454 and H886467 which represent lower grade stockwork style veinlets hosted within altered porphyry talus.

Recessive lineaments defining the Bonanza structural trend are somewhat intermittent but are interpreted to span a width of roughly 200 m. Surprisingly, copper-in-soil response along the trend is generally low but this may be largely attributed to extensive talus cover and poor soil development. Historical soil sampling programs in this part of the property did not analyse for gold and silver or accessory indicator elements for precious metal veins.

Another gold occurrence referred to as the Hart Showing is situated 1 km southwest of the Bonanza Zone and consists of a small exposure of vuggy grey silica talus with variable amounts of scorodite alteration. Samples collected from this historical exposure returned 5.61 g/t Au, 65.8 g/t Ag, 0.34% Cu and greater than 1% As. The orientation of the associated host structure is currently unknown but the showing is situated at the southern end of a prominent northwestly trending lineament.

Management are extremely pleased with the latest results received from Prospector Mountain and consider them highly significant in the development of the property's potential. Additional work is underway to evaluate to the nature of the vein material specifically at the Bonanza Zone. Tarsis is seeking a joint venture partner or optionee to assist in progressing the exploration of this project.

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.

(i) Gold determinations were carried out at ALS Chemex in North Vancouver, B.C. where samples were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. Gold analyses were by the Au-AA23 procedure that involves fire assay preparation using a 30 gram charge with an atomic absorption spectroscopy finish. Gold values exceeding upper detection limits of 10 ppm were taken to completion using fire assay with gravimetric finish Au-GRA21. Due to the unusual high grade response from such a number of samples, additional check analyses were performed from the coarse reject material. This was conducted at Acme Analytical Laboratories Ltd. in Vancouver, B.C. using similar analytical techniques. Final gold values were then calculated using an arithmetic average of initial assay results and check assay results from the two different labs.

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.

Tarsis Resources Ltd.

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