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September 2, 2009
Tarsis Resources Samples 27.6 g/t Gold, 910 g/t Silver at Prospector
Mountain, Yukon
Tarsis Resources Ltd.
has released assay results from phase I exploration at its 100-per-cent-owned
5,000-hectare Prospector Mountain property, located in southwestern Yukon.
The property lies within the Dawson range, an unglaciated portion of the
Tintina gold belt, west of the Big Creek fault, approximately 15 kilometres
northwest of the Freegold Mountain project and 55 kilometres 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 dikes of the Prospector Mountain suite. All rocks have
been cut by northwest-to-northeast-trending structures that are apparent as
recessive topographic lineaments.
Intermittent historical exploration programs conducted between the late 1960s
and late 1990s identified both porphyry- and epithermal-style vein mineralization within the current property boundary. The
most extensive work was conducted in the early 1980s and focused exclusively
on the peripheral epithermal vein targets in the western part of the claim
block. Exploration consisted of bulldozer trenching and limited diamond
drilling across recessive lineaments but was restricted primarily to the ridge
tops. The success of this work was limited by extensive permafrost and deep
weathering of the vein zones.
Porphyry exploration conducted in the late 1990s consisted of two isolated
induced polarization grids followed by two diamond drill holes spaced roughly
800 metres apart. This work was done in proximity to historical
copper-in-soil geochemical anomalies identified in the 1970s.
During July, 2009, Tarsis explored the property to assess the merits of the
historical targets and begin defining future diamond drill targets. This work
included broad alteration mapping and prospecting within the eastern part of
the property and examination of several vein zones within the western part of
the claim block.
Porphyry alteration mapping and prospecting were conducted within a
four-square-kilometre area west and southwest of Prospector Mountain peak
near the contact between the Carmacks suite volcanic rocks and the Prospector
Mountain suite monzonite. This area is centred on an intermittent 1,500-metre
northwest-trending copper-in-soil geochemical anomaly (100 to 250 parts per
million) largely confined to an upland plateau. Prospecting within the
plateau is largely hampered by grass and talus cover, however, traverses
along recessive northwest-trending benches above the plateau and along cirque
walls identified numerous locales containing sericite altered quartz
tourmaline vein material with accessory specularite, hematite and magnetite
veinlets plus patchy limonite. Highlights from material sampled include 27.6
grams per tonne (g/t) gold, 910 g/t silver, 1.37 per cent copper and 28.0 per
cent lead. The attached table of results lists analyses for key samples
collected.
PORPHYRY TARGET Sample No. Description Au (g/t) Ag (g/t) Cu (%) Pb (%) H884005 Clay-altered monzonite 3.10 206 0.04 0.42 with limonite pits and grey-white glassy quartz veinlets H884006 Weakly banded rusty 1.10 217 0.04 0.31 weathering white to clear quartz vein with weak residual pyrite H884011 Clear to white rusty quartz 18.5 31.2 0.44 0.06 vein with goethite coatings and trace residual pyrite H884012 Manganiferous limonitic 27.6 182 1.37 0.13 siderite with botryoidal malachite surface coatings H884035 Manganiferous and limonitic 1.85 910 0.19 28.01 quartz-anglesite-galena vein Note: All samples collected are locally weathering talus specimens.
Alteration in the vicinity of the mineralized samples is dominantly
potassic and characterized by the presence of fine masses of orthoclase feldspar
and secondary biotite within large intrusive talus blocks and narrow veins
crosscutting the overlying volcanic sequence. Anomalous accessory elements
associated with the mineralized samples include bismuth, tungsten and
antimony.
Four trenches were examined in the western part of the property from two of
four main areas bulldozer trenched in the early 1980s. The vein zones are now
fully thawed and easily excavated by hand resulting in much better exposures
for detail sampling and characterization of the veins. Individual samples
yielded up to 17.35 g/t gold, 557 g/t silver and 33.8 per cent lead. The
attached table lists weighted average grades for the sampled vein zones.
VEIN TARGET Area-trench Width (m) Au (g/t) Ag (g/t) Pb (%) C Tr 01 0.67 2.86 506 30.7 Tr 02 0.72 0.83 7.93 0.27 Tr 03 0.83 2.99 54.89 2.27 including 0.27 7.12 58.40 2.77 D Tr 04 1.15 2.67 217 5.09 including 0.15 17.35 557 24.49 Note: Due to time constraints only four of approximately 80 trenches were examined and none were traced along strike into the valley bottoms along the respective lineaments.
Vein zones are associated with northwest-to-northeast-trending
recessive lineaments and consist of highly sheared quartz and multicolour
gouge containing varying amounts of arsenic oxides and lead
sulphide/sulphate. Accessory arsenic and antimony response are moderately to
strongly elevated in all samples.
A 0.30-metre chip sample collected across a naturally exposed unaltered white
quartz vein two kilometres east of the bulldozer trenches returned 4.06 g/t
gold, 161 g/t silver and 0.89 per cent lead. No mechanized follow-up work was
evident in this area.
Management is very pleased with the assay results received from this cursory
target assessment and consider the results significant. Additional ground
exploration is currently being carried out on both the porphyry and vein
targets. Results will be reported as they become available.
William A. Wengzynowski, PEng, is the qualified person for the project as
defined by National Instrument 43-101. Mr. Wengzynowski has reviewed the
technical content of this release.
For Further Information
Contact David Schmidt, President at: (604) 688-3113
Coal Harbor Communications
Suite 2302, 555 Jervis Street, Buzzer #482
Phone: 604-662-4505
info@coal-harbor.com
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