Tarsis Gets White River Property, Yukon Back From Optionee
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/21/13 -- Tarsis
Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") has
been formally notified that Driven Capital Corp. (TSX VENTURE:DVV)
("Driven") will not be continuing with its option to explore Tarsis'
White River property, located in southwestern Yukon.
Tarsis plans to assimilate the data collected by Driven and determine
the most effective means to advance the project. The Company thanks
Driven for its efforts and wishes the team future success.
During 2012, Driven completed a first phase diamond drill program
comprising 1,327 meters in seven holes and spent approximately
$833,000 at White River. This was the first time that the project had
been drilled. While gold mineralization was detected in all holes,
the grades and thicknesses encountered did not meet Driven's
expectations. Driven also cited the continuing difficult market
conditions for junior mineral exploration companies and the
challenging financing environment. Drilling primarily targeted the HG
Zone with 5 holes testing a 275 m portion of the 1,000 m long target
while single holes were located at the MB and Cool Zones. No drilling
was conducted at the MS2 Showing.
The White River 2012 Exploration Program
In total, 1,327 meters were drilled in seven holes during the 2012
exploration season. All holes targeted structurally associated
gold-copper-silver mineralization in localized portions of the HG,
Cool and MB zones.
Drill core from each hole displays numerous multi-phase veins,
breccia and shear zones containing varying combinations of secondary
calcite-arsenopyrite-chalcopyrite-pyrite supporting previous
interpretations of extensive hydrothermal activity. These structural
zones range in thickness from 0.94 to 12.95 meters and as previously
reported, a number of these zones have no surface expression.
Moderately elevated gold values were identified in all holes with
assays ranging from 0.42 to 2.78 g/t gold over intervals ranging from
0.76 to 1.47 meters. The elevated gold intervals are generally
associated with strongly anomalous arsenic (greater than 10,000 ppm
in some samples) and bismuth values. Core recovery was poor in a
number of intervals due to the high degree of fracturing, strong
surface oxidation/weathering and presence of clay-rich gouge.
At the MS2 Showing, two select prospecting samples were collected
from an unsampled hand trench excavated in 2011. Each specimen
comprises locally weathering disseminated to semi-massive
arsenopyrite in silicified metasediments interpreted to be part of
the Yukon-Tanana assemblage underlying the stratigraphic sequence
hosting the HG, Cool and MB zones. The two samples collected returned
18.90 and 3.25 g/t gold and both samples have strongly anomalous
accessory arsenic, bismuth and tellurium. The MS2 Showing is located
approximately 500 meters south of the HG Zone in an alpine plateau
coincident with a well-defined Induced Polarization chargeability
anomaly that remains untested by diamond drilling.
In addition, two main areas of arsenic-copper+/-gold soil geochemical
response previously outlined at the SouthWest and North Anomalies
require further exploration. Soil sample sites within the SouthWest
Anomaly returned gold values ranging from below detection to 1.67 g/t
within a well-defined northeasterly trend.
About Tarsis Resources
Tarsis is an exploration company following the prospect generator
business model. The Company acquires prospective exploration projects
by acquisition or through its own grass roots generative exploration,
adds value and then vends or options out projects to partners for
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.
Tarsis Resources Ltd.
Marc G. Blythe, P.Eng., MBA.
President and Chief Executive Officer
Tarsis Resources Ltd.
Mark T. Brown, C.A.
Chief Financial Officer
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