VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 3, 2010) - Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis") is pleased to advise that it has made a new grassroots copper, gold and silver discovery in Yukon, while carrying out porphyry generative exploration. Rock specimens were collected with visible sulphide mineralization and alteration and assays confirmed the presence of strongly anomalous copper, gold and silver values, including one select prospecting sample containing 4.41 g/t gold, 0.47% copper and 391 g/t silver. Another sample contained 0.58 g/t gold, 1.93% copper and 1,120 g/t silver. The site has no known exploration history and Tarsis has initiated an accelerated exploration program to follow up on this significant discovery.
Tarsis has acquired a 100% interest in the property, named White River, through the staking of 48 claims covering approximately 1,000 hectares. Subsequent to staking, a soil geochemical survey has been completed by the highly experienced Archer, Cathro and Associates (1981) Limited. Additional prospecting and reconnaissance work has also been carried out and numerous pending assays will be announced once available.
The property is located at the western end of the Nisling Range, within the Tintina Gold Province. It is situated 11 kilometers north of Koidern, a minor settlement on the paved, all weather Alaska Highway (see location map: http://media3.marketwire.com/docs/0803tcc.pdf). Koidern is located 390 kilometers northwest of Whitehorse, the capital of Yukon. A 3,000 foot long grass airstrip is located 15 kilometers southwest of the property at the White River Lodge, which is adjacent to the Alaska Highway.
In total, assays have been received for 47 select prospecting samples collected from the main zone of mineralization on the property, which is roughly 350 meters wide by 600 meters long. These samples returned values ranging from 8 ppm to 2.08% copper, below detection to 4.41 g/t gold and below detection to 1,120 g/t silver (see sample map: http://media3.marketwire.com/docs/0803tcc1.pdf). A number of the samples were collected primarily for fluid inclusion studies, rock characterization and as examples of structural features. Highlights are detailed in the table below:
The property features abundant outcrop, primarily within a north-west facing moderately sloping cirque. At the northern end of the property, an extensive intrusion of hornblende-rich diorite to granodiorite occurs, in addition to an equigranular chloritically-altered gabbro body. Magnetite and pyrrhotite are present in the intrusive rocks. Quartz-carbonate veining is present, primarily in east trending linear recessive zones. Actinolite and epidote alteration is also visible. Colliform, bladed and open-space textures within quartz and carbonate veining are indicative of an epithermal environment. Malachite, azurite and chalcocite have all been detected, along with limonite in this environment.
Elsewhere on the property, siliceous metasedimentary rocks consisting predominantly of chert occur and are intercalated with mafic volcanics. A number of felsic dykes intrude the metasedimentary and metavolcanic basement rocks. These dykes range from aplitic to porphyritic (quartz + feldspar) in texture.
Several broad zones of close-spaced fracture sets and veins defined by intense limonitic weathering of primary sulphides are located on ridge crests and within the cirque. Weathering has created numerous red-brown limonitic and jarosite-rich gossanous zones. Bennett's Gossan is one such zone (see website for photographs), with a rusty crumbling gossanous outcrop, including a stripe of malachite and yellow secondary sulphate (sulphosalts).
The open-space veining, silicification, brecciation and intense limonite alteration that occurs thoughout the White River property is, visually, quite similar to the styles of structurally controlled mineralization occurring within both the Whitegold project of Kinross Gold Corporation and the Coffee property of Kaminak Gold Corporation.
Further information and photographs are available on Tarsis' website: http://www.tarsis.ca/whiteriver.html.
Tarsis' President and CEO, Marc G. Blythe stated, "We are delighted to have early success with our generative exploration, making a new grassroots discovery. The property is extremely well located with respect to infrastructure and we look forward to finding a partner who would like to option the project from us."
During 2009, the Yukon Geological Survey in conjunction with the Geological Survey of Canada completed an airborne magnetic and radiometric survey over a wide area, including the White River property. Tarsis utilized this survey, which was a fundamental input into its generative targeting process, along with the Government regional stream sediment database.
Tarsis will complete early stage exploration on the project before offering it for option to qualified exploration companies.
The qualified person responsible for the technical disclosure in this press release is Marc G. Blythe, P.Eng. Mr. Blythe is the President and CEO of Tarsis Resources and he has reviewed the content of this release.
About Tarsis Resources
Tarsis is an exploration company following the prospect generator business model, with fourteen mineral properties in Yukon, Canada and one in Mexico. The Company acquires projects on attractive terms, adds value and then vends or options out projects to partners for advancement.
The Company currently has 17,912,970 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.