|By Marketwired .||
|February 12, 2014 05:38 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/12/14 -- Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") has received a report detailing work carried out at the Erika property by the optionee who recently returned the project. During the work program, the optionee discovered a new and previously unknown zone of skarn alteration characterized by moderate hornfelsing in rocks of the Mezcala sedimentary sequence.
The following work was carried out and paid for by the optionee during 2013:
-- Reverse circulation (RC) drilling (1,713 meters in 7 holes). -- Diamond drilling (402 meters in 1 hole). -- Drilling targeted three different styles of mineralization at four separate locations on the property. -- Mapping at 1:10,000 scale over the entire property. -- Collection of 251 rock chip samples, 289 soil samples and 18 stream sediment samples for geochemical analysis.
Of the eight drill holes completed, three targeted skarn mineralization, three targeted Carlin style gold mineralization and two were directed at two separate high-sulphidation epithermal targets.
Carlin Style Target
Three holes were drilled at El Rincon between 150 m and 400 m east of drilling carried out by Tarsis in 2011. Only one of the three holes reached the intended target at the contact between the Morelos limestone and the Mezcala sediments where gold in decarbonatized Mezcala was previously encountered. Hole EK-RC-02 returned 0.12 g/t gold over 2.0 m from 264 m accompanied by elevated arsenic and mercury values. This intersection is located approximately 200 m east of ER-11-14 in a direction believed to be increasingly distal to the feeder structures sourcing the gold mineralization identified in 2011. The other two RC holes targeting Carlin mineralization were terminated prematurely due to drilling difficulties.
Data analysis, sampling and prospecting carried out by the optionee identified a zone of hornfelsing at La Onza. Drilling of three holes at the La Onza prospect encountered Mezcala sediments and minor volcanics but none of the three holes intersected the Morelos limestone which is believed to be the most prospective host for skarn style gold mineralization. One hole intersected a diorite intrusion at depth, however the hole passed through the intrusion and ended in Mezcala. Elsewhere in the district, significant skarn gold deposits occur in Morelos limestone near the contact with intrusive rocks. Examples of this model are the nearby Los Filos mine owned and operated by Goldcorp Inc. and Torex Gold Inc.'s Morelos gold project.
Epithermal Style Targets
Two holes were directed at high-sulphidation style epithermal targets at two separate locations, Tierra Colorada and Cieneguita, located 3.5 km apart in the western part of the property. While no gold values were detected, moderately anomalous mercury values were returned from Hole EK-RC-03 at Cieneguita to a depth of 270 m.
The Company is currently analysing the report and data provided by the optionee to determine the next steps for the Erika project.
The Erika project is located in the Guerrero Gold Belt and covers approximately 16,000 hectares, located in Guerrero State, Mexico. The property is accessed by paved road via Federal Highway 95, which crosses the eastern boundary of the claims. Acapulco is 150 km south and Iguala is 47 km north of Erika.
The technical information contained in this press release was prepared by Mr. Marc G. Blythe, P.Eng., the President and CEO of Tarsis Resources Ltd. Mr. Blythe is a Qualified Person as defined by NI 43-101.
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 advancement.
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.
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