Tarsis Resources (CVE:TCC) is a junior explorer and project generator that uncovers and develops early stage exploration properties for option and joint venture. The Company currently holds fourteen projects in the Yukon, and one in Mexico, and also seeks early stage properties in Canada.
The Company is developing the 100% owned Erika Project that covers 16,000 hectares and is located in Guerrero State, Mexico. Erika is surrounded by good quality infrastructure and is 47 kilometres south of the city of Iguala.
Erika has potential for sediment hosted Gold mineralization within an established mining district, and is 20 kilometres from the Goldcorp (NYSE:GG, TSE:G) Los Filos Mine, which produced 300,000 ounces of Gold in 2010, and is Mexicos largest Gold mine. Gold Torex Gold Resources (TSE:TXG) is exploring the adjoining property to Erika, hosting approximately 3.9 million ounces of Gold.
Tarsis recently completed a total of 4,020.8 metres of diamond drilling, part of which covers a 650 metre wide zone containing a transitional sequence of calcareous siltstones and mudstones. Results include 2.25 g/t Gold over 3.60 meters from within a broader interval of 10.28 meters grading 1.14 g/t Gold from drill hole ER-11-14.
Surface sampling has defined a series of highly anomalous Gold in soil and pathfinder geochemical responses that are up to 6 kilometres from the area that was drilled.
Tarsis has also completed a ground magnetic survey and believes that the property has potential to host a significant sediment hosted Gold system that may replicate similar styled Gold deposits in Nevada that are very significant contributors to world Gold production. Future exploration will seek feeder structures in areas of favorable stratigraphy that may carry thicker and higher grades of Gold mineralization.
The second high potential project is known as White River, and is at the western end of the Nisling Range within the Tintina Gold Province in the Yukon. The Project is 100% owned, covers 6,400 hectares, and is located approximately 390 kilometres northwest of Whitehorse. The property is accessed by helicopter and is very close to the Alaska Highway.
The property is a grass roots discovery made by Tarsis in 2010, and covers a sequence of metasedimentary and metaplutonic rocks of the Slide Mountain Terrane that overlie metasedimentary successions of the regionally extensive Yukon Tanana Terrane, which are both locally intruded by mid-Cretaceous granodiorite of the Nisling Range and younger felsic porphyry dikes.
Initial sampling across the property identified the HG Zone that was traced over a strike length of at least 1,250 metres and includes a 500 metre strike line that was extensively sampled and reported assays of up to 39.8 g/t Au, 2.52% Cu and 1,310 g/t Ag.
A second and parallel system known as the Cool Zone was traced over a strike length of 800 metres and was sampled over a distance of 300 metres and reported assays of up to 18.9 g/t Au, 274 g/t Ag and 22.10% Cu.
A follow up soil sampling program that centered on the HG and Cool Zones and covering an area measuring 2,500 metres by 1,500 metres detected elevated Gold, copper and arsenic values that was largely coincident with the surface expression of the Slide Mountain Terrane strata. Surface sampling of locally derived talus within the HG and Cool Zones produced significant Gold, copper and silver values.
Four new prospects that lie between the HG and Cool Zones were identified and named as MB, BW, MS1, and MS2, and assayed up to 3.11 g/t Au, 391 g/t Ag and 0.90% Cu. Additional assay results are pending from infill sampling across this area.
Sampling across the eastern extension of White River identified 5 sites containing anomalous Gold and copper values, and resulted in the additional staking of 27 mineral claims that cover the newly identified mineralization. Assay results from the surface sampling are pending.
Tarsis has identified targets that are ready for drilling in 2012, and is seeking a joint venture partner to fund the next phase of exploration.
In mid 2011 the Company acquired a 100% interest in 10,500 hectares known as the Rogue Project, which is located 160 kilometres north of Faro, Yukon, and is accessible by helicopter or fixed wing aircraft.
Earlier prospecting sought SEDEX style lead and zinc mineralization, but Tarsis is focused on the anomalous Gold values of 1 to 27 ppb identified by stream sediment sampling, and earlier reconnaissance work that found abundant anomalous silver values that ranged from 0.1 g/t to 23.9 g/t Ag from soils and 0.4 g/t to 8.6 g/t Ag from stream sediments. Elevated arsenic, antimony and molybdenum values were also reported with no explanation or follow up on the source of the persistent mineralization.
The Company optioned the Prospector Mountain Project in the Yukon to Silver Quest (CVE:SQI) in late 2009. To date, more than $2 million has been spent on exploration and drilling. While 2010 results did not meet Silver Quest expectations, Tarsis remains optimistic that the property hosts significant Gold resources within the eastern porphyry target that extends over 2,000 metres, and four epithermal style targets to the west.
A pipeline of Yukon based projects are available for option to companies with funds available for exploration and development and include the Rosie Gold and copper porphyry prospect, MOR volcanic hosted massive sulphide copper and Gold prospect, Dawson sediment hosted Gold prospect, the Goz Creek carbonate hosted silver, lead and zinc project; and silver plus base metal prospects at Tim, Meister and Cord.
Marc Blythe is the President, Chief Executive Officer and Director of Tarsis. He was previously the Vice President of Mining with Almaden Minerals (TSE:AMM) which is the biggest shareholder holding 4.1 million shares that constitute a stake of 15% in the Company.
Company directors include Adrian Fleming, an Australian geologist with 35 years of diversified and international exploration, project development, and operations experience. He established Underworld Resources that was acquired by Kinross (TSE:K) in 2009. Kinross recently took a 9.9% stake in Tarsis, obtaining 2.7 million shares at 60 cents and providing Tarsis with $1.6 million to continue its early stage exploration programs.
We are world leaders in testing, inspection and certification services. We are present in all sectors of the economy with solutions and services that enhance the business, avoiding risks, improving operational performance and protecting the reputation and brand of our clients.