Tarsis Resources Ltd.

Tarsis Resources Ltd.

January 19, 2012 16:15 ET

Tarsis Samples 82.20 g/t Gold Across 1.0 Meter at the HG Zone, White River Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2012) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased to announce the final 2011 exploration results from its White River property, Yukon. Highlights from this work include:

  • Strongly anomalous gold values identified in 9 of 11 hand trenches with values ranging from 0.01 g/t to 214.00 g/t gold
  • Two zones drill ready for start of 2012 season
  • 1,617 new soil sample results, significantly expanding gold geochemistry with new zones identified
  • Reconnaissance geophysical surveys support presence of both structural and stratigraphic controlled mineralization

White River - West

Eleven hand trenches were completed across five separate structures spanning over one kilometer of the property, centered within the main portion of the gold-in-soil geochemical anomaly defining the White River West target area. In addition, approximately 800 new soil samples were collected and two lines of Induced Polarization (IP) geophysics were completed, each approximately two kilometers long, were surveyed across the HG, Cool and MS2 zones.

Highlights from the hand trenching program include a channel sample returning 82.20 g/t gold across 1.0 meter from TR-HG11-02 within the HG Zone. A grab and an auger sample from the core portion of the exposure returned 214.00 g/t and 129.00 g/t gold, respectively.

Maps and photos can be seen by clicking on this link: http://file.marketwire.com/release/TCC0119.pdf

Trench locations were strategically located near ridge crests to minimize overburden thicknesses and permafrost content and most sites tested primary and secondary structures containing previously identified gold-copper-silver mineralization. A total of 11 hand trenches were completed within four target areas which included deepening of three previously incomplete trenches.

All trenches, with the exception of TR-HG11-02 (HG Zone), encountered a mixture of semi-consolidated weathered residual bedrock and locally developed soils. Auger samples were collected below the base of the trenches at 1 m intervals along the length of the trench, at depths between 30 and 70 cm from the trench bottom. Large rock fragments in excess of 0.5 cm were removed from the sample leaving the finer rock material and residual soil for analyses. All trench samples including those collected by auger were treated as rock samples with no further screening carried out prior to analysis.

Three hand trenches at the HG and Cool zones targeted strong gold and copper-in-soil response, coincident with the primary easterly structural trend mapped across the property. Two trenches at the HG Zone were located 25 m apart on the east facing slope uphill from high-grade gold mineralization (39.8 g/t gold, 521 g/t silver and 1.35% copper) prospected from an interpreted structural splay while the third trench was located 25 m north to test the broader primary lineament. Significant HG Zone trench results are listed in Table I.

Table I: Significant HG Zone Trench Results
Sample Trench Au Ag Cu
Zone Trench Type Marker (g/t) (g/t) (%)
HG TR-HG11-01 auger* 3 m 0.25 49.6 0.24
auger 4 m 1.28 64.7 0.27
auger 5 m 0.94 33.7 0.18
auger 6 m 1.19 39.0 0.15
HG TR-HG11-02 channel 1.0 m** 82.20 2.4 0.12
grab 0 m 214.00 8.0 0.10
auger 0 m 129.00 10.5 0.03
auger 1 m 3.77 0.9 0.10
HG TR-HG11-03 auger 8 m 0.15 2.0 0.05
auger 9 m 0.13 2.4 0.05
*auger sample reporting starts at the south or west end of the trench, at the 0 m mark.
**continuous channel sample along the base of trench where contacts were clearly identified.

Approximately 500 m to the north, three trenches tested a localized portion (75 m) of the Cool Zone at the west end of a broad easterly trending lineament coincident with intermittent limonitic float trains. Previous sampling from the float trains in the vicinity of the hand trenches returned 2.0 g/t gold, 274 g/t silver and 3.83% copper. Trench TR-CZ11-01 is the highest elevation of the three trenches roughly centered on the apex of the plateau. None of the trenches encountered competent bedrock. Significant Cool Zone trench results are contained in Table II.

Table II: Significant Cool Zone Trench Results
Sample Trench Au Ag Cu
Zone Trench Type Marker (g/t) (g/t) (%)
Cool TR-CZ11-01 auger 0 m 0.38 351.0 1.39
auger 1 m 0.54 221.0 2.16
auger 2 m 1.30 74.0 1.34
auger 3 m 1.18 595.0 1.77
auger 4 m 0.31 193.0 1.51
auger 5 m 0.16 114.0 1.08
auger 6 m 0.89 151.0 1.82
auger 7 m 0.22 166.0 2.08
auger 8 m 0.12 345.0 6.41
auger 9 m 0.06 59.6 0.73
auger 10 m 0.19 58.1 0.25
auger 11 m 0.15 53.0 0.15
auger 12 m 0.22 52.0 0.23
auger 13 m 0.08 36.9 0.25
Cool TR-CZ11-02 auger 1 m 0.03 7.2 0.34
auger 2 m 0.02 7.6 0.25
auger 6 m 0.11 60.0 0.23
auger 7 m 0.06 21.8 0.15
auger 8 m 0.04 39.0 0.14
Cool TR-CZ11-03 auger 0 m 0.06 11.8 0.89
auger 1 m 0.05 13.3 0.93
auger 2 m 0.05 10.3 0.34
auger 3 m 0.03 9.6 0.21

Four trenches were cut across a northeasterly trending lineament within the MB Zone between the HG and Cool zones centered on narrow limonite float trains with intermittent spot high gold geochemical anomalies. No surface sampling was conducted along this particular trend, however malachite stained limonite float trains sampled from the MB Showing 70 m to the northwest along a parallel trend yielded 3.11 g/t gold, 391 g/t silver and 0.80% copper. Significant trench results from the MB Zone are listed in Table III.

Table III: Significant MB Zone Trench Results
Sample Trench Au Ag Cu
Zone Trench Type Marker (g/t) (g/t) (%)
MB TR-MB11-01 auger 0 m 2.59 9.2 0.24
auger 1 m 0.21 1.1 0.37
MB TR-MB11-03 auger 0 m 0.22 5.0 0.31
auger 1 m 3.85 2.9 0.56
auger 2 m 4.24 2.1 0.38
auger 3 m 2.45 2.5 0.22

The last of the trenches was located 600 m south of the HG Zone at the MS2 Showing where previous prospecting identified texturally destructive silicified stratabound replacement style mineralization in the underlying Yukon Tanana Terrane (YTT) metasedimentary rocks. Samples collected yielded 0.88 and 1.11 g/t gold with only weak responses for silver and copper. This locale is characterized by a very gently sloping grass covered plateau near the edge of a subtle northeasterly trending bench. Significant MS2 trench results are contained in Table IV.

Table IV: Significant MS2 Trench Results
Sample Trench Au
Zone Trench Type Marker (g/t)
MS2 TR-MS2-11-01 auger 0 m 0.16
auger 1 m 0.32
auger 2 m 0.17
auger 3 m 0.15
auger 5 m 1.95
auger 6 m 0.69

Inverted chargeability and resistivity plots for the two reconnaissance IP lines established across the MS2, HG and Cool zones highlighted a number of significant features. All mineralized zones appear to be associated with moderate to strong surface and near surface resistivity; the most striking of which is observed over the area hosting the MS2 mineralization. The resistivity high is broad but well defined and coincides in part with moderate to strong chargeability highs.

Positive chargeability is characterized by a broad but well defined gently north dipping band roughly coincident with the projection of the upper portion of the YTT sequence near the overlying Slide Mountain Terrain (SMT) contact. Isolated lobes of strong chargeability, in excess of 100 m width, are coincident with a number of steeply dipping structural zones defined by the magnetic data and in particular occur directly beneath the HG and MS2 zones. The chargeability anomalies appear slightly offset below the resistivity anomalies.

Soil sampling identified a new zone north of the main grid and significantly improved the resolution of the South Zone where a semi-continuous gold-in-soil anomaly is defined along an 1,100 m northwesterly trend with values ranging from 9 ppb to 1.67 g/t gold. Approximately 2.5 kilometers north-northwest of the South Zone, a 400 m by 200 m area of anomalous copper response has been identified featuring values ranging from 80 to 525 ppm. No follow-up work has been conducted in either of these locales.

White River - East

At White River - East, 890 grid soil samples were collected as follow up to anomalous ridge and spur sampling completed earlier in 2011, which is located approximately 8 km east of White River West. Gold-in-soil values range from below detection to 380 ppb and one semi-continuous gold anomaly has been defined for approximately 1,100 m and up to 250 m wide mostly occurring on a gentle grassy plateau. A number of other secondary anomalies were also identified which will require additional soil sampling to more clearly define their extents.

"The White River property has the potential to host Yukon's next significant discovery," states Tarsis' President & CEO, Marc Blythe. "We are very pleased with the development of the numerous gold-silver-copper targets and are particularly encouraged by the trench results from White River West where many of the zones have only been cursorily explored."

Exploration to date at White River suggests the mineralizing system is extensive and is both structurally and stratigraphically controlled with mineralization occurring through a thick sequence of both the SMT and underlying YTT.

High-level structurally hosted mineralization is predominant within the overlying SMT sequence and is associated with broad multi-oriented lineaments in excess of 30 m width. Modeled IP and magnetic results, although broadly spaced and reconnaissance in nature, suggests the potential for replacement style mineralization largely within the underlying YTT sequence in close proximity to through-going structural zones.

Tarsis will spend the coming months designing the first phase diamond drill program and supplementary exploration required to expand and define new and existing target areas at both White River West and East. Continued petrographic work will also be carried out to better understand the nature of the mineralizing system prior to drilling.

All samples have been assayed by ALS Chemex Laboratories, with sample preparation being carried out either in Yukon or Vancouver and assaying at their North Vancouver laboratory. ALS Chemex are ISO 9001 accredited. All samples were assayed for gold using either a 30 or 50 gram fire assay technique and aqua regia digestion, followed by inductively coupled plasma (ICP) and mass spectroscopy (MS) or atomic absorption spectroscopy (AES) for 51 elements.

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