PRESS RELEASE
TARSIS RESOURCES
December 15,
2009
(TSXV: TCC)
Tarsis Options Prospector Mountain to Silver Quest
Tarsis Resources (TSXV: TCC)
(?Tarsis? and ?the Company?) is pleased to announce that it has signed an option agreement with Silver
Quest Resources Ltd. (TSXV: SQI) (?Silver Quest?), whereby Silver
Quest may earn up to a 70% interest in the Prospector
Mountain
project. The 5,000 ha
Prospector
Mountain
project, located in southwestern Yukon,
Canada
is 100% owned by Tarsis.
Option Agreement
Under the terms of the option
agreement, Silver Quest may earn an initial 60% interest in the project by:
?
Spending $4 million on
exploration over four years
?
Issuing 1 million
Silver Quest shares to Tarsis
?
Paying $300,000 to
Tarsis
Silver Quest has a firm commitment
to spend $350,000 on exploration in the first year of the agreement. Share
issuance and cash payments are staged over four years, with 200,000 shares and
$50,000 being payable within the first year.
Silver Quest may increase its
interest from 60% to 70% after initial earn in, by completing an NI 43-101
compliant Feasibility Study on the project within 36 months of initial earn in.
The option agreement is subject to
acceptance for filing by the TSX Venture Exchange.
President and CEO, Marc Blythe stated ?We are very pleased to have Randy Turner?s Silver
Quest option this project from us and we look forward to further exciting
results from exploration.?
The Project
The property lies within the Dawson Range, an
unglaciated portion of the Tintina Gold Belt, west of the Big Creek Fault
approximately 15 km
northwest of the Freegold Mountain Project and 55 km southeast of the Casino
copper-gold-molybdenum deposit. The Prospector Mountain
claims cover a high-level porphyry copper-gold system, the core of which is
believed to be hosted within the eastern part of the claim block while
peripheral epithermal gold-silver-lead vein targets occur within the western
part of the property.
The claims are underlain by Late
Cretaceous to early Tertiary Carmacks Suite volcanic rocks that have been
intruded by early Tertiary monzonite to quartz monzonite and coeval dykes of
the Prospector Mountain Suite. All rocks have been cut by northwest to
northeast trending structures that are apparent as recessive topographic
lineaments.
2009 Exploration
During 2009, Tarsis carried out
prospecting and early stage exploration, which led to the discovery of a new zone,
subsequently termed the Bonanza Zone. Complete results from this
exploration were disclosed in a press release dated November 17, 2009 and full
results, including maps and photos can be found on the Tarsis website (www.tarsis.ca/prospector.html). 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 defined 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. Eighteen
samples of locally weathering vein talus were selected in total and results
ranged from below detection to 82.8 g/t Au, below detection to 1,375 g/t Ag and
3 ppm to 11.65 % Cu. Some of the samples were collected specifically for
fluid inclusion work and alteration characterization while four of the eighteen
samples represent examples of altered intrusive material. Mineralized
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.
Table
of Significant Results
Bonanza
Zone
|
Sample #
|
Au (g/t)
|
Ag (g/t)
|
Cu (%)
|
|
|
|
|
|
|
H886454
|
0.73
|
0.4
|
-
|
|
H886457
|
23.3
|
586
|
0.22
|
|
H886458
|
82.8
|
299
|
1.49
|
|
H886459
|
35.2
|
981
|
3.08
|
|
H886460
|
65.5
|
86.6
|
0.60
|
|
H886467
|
0.83
|
3.4
|
-
|
|
H886468
|
23.2
|
4.9
|
-
|
|
H886473
|
14.00
|
1340
|
11.65
|
|
H886474
|
55.7
|
1375
|
7.38
|
|
H886475
|
82.2
|
888
|
5.97
|
|
H886476
|
8.52
|
136
|
0.52
|
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.
Mr. Marc G. Blythe, P.Eng, is the
Qualified Person responsible for the technical content of this press
release. Mr. Blythe has reviewed this press release. Mr. Blythe is
the President and CEO of Tarsis.
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?
_____________________________
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tarsis Resources Ltd.
Marc G. Blythe, P.Eng., MBA.
President and Chief Executive
Officer
(604) 689-7644
Mark T. Brown, C.A.
Chief Financial Officer
(604) 687-3520
Email: info@tarsis.ca
Website: www.tarsis.ca
Marc G. Blythe, P.Eng., MBA.
President and CEO
TSX.V: TCC
Tarsis
Resources
1103 ? 750 W Pender Street
Vancouver BC
Canada V6C 2T8
Tel: +1 (604) 689-7644
Fax: +1 (604) 689-7645
www.tarsis.ca