Tarsis Resources – Launches Exploration Programme at MOR, Yukon
A busy 2H2009 is ahead for Canadian Venture listed Tarsis Resources (TSX.V: TCC). On the heels of its recent property acquisition from Strategic Metals Ltd. (TSX.V: SMD) Tarsis announced the launch of its exploration programme at the company’s 100% owned MOR property in Southern Yukon, Canada. The Property consists of 290 mineral claims (approx 6,000 hectares) located 35 km east of Teslin just 1.5 km north of the paved, all weather Alaska Highway and hosts volcanogenic hosted massive sulphide (VHMS) mineralization.
Tarsis is engaged in the exploration and development of economic zinc deposits and has amassed an excellent portfolio of zinc assets in Canada and Mexico. The company’s corporate strategy is to identify and advance good projects through joint venture with appropriate partners. Along with zinc of course, as they are hardly stand alone deposits, Tarsis provides exposure to other associated metals such as silver, lead copper and sometimes gold.
In line with its corporate strategy, Tarsis recently acquired 100% interest in two zinc and other base metals properties from SMD (Highway property and Cord Property), which are also located in Yukon. Located approximately one km southwest of the MOR Property, the Highway property features volcanogenic hosted massive sulphide (VHMS) mineralization in stacked horizons up to 7.80 m thick. Tarsis intends to incorporate the Highway property into its MOR property for future exploration campaigns.
The Cord property meanwhile consists of twelve mineral claims located approximately 80 km northeast of Tarsis' Goz Creek property in eastern central Yukon. The property is underlain by clastic and carbonate sedimentary sequences of the Early Proterozoic Wernecke Supergroup, which are prospective hosts for stratiform zinc-lead mineralization. These rocks are interpreted to occupy a similar geological setting to the Century, McArthur River and Mt. Isa deposits in Australia.
Tarsis intends to issue 10,000 common shares of Tarsis stock to Strategic as payment for the acquisition and also grant Strategic a 2% NSR on any future production from the mineral claims acquired.
Tarsis is not merely acquiring assets but also develops those acquired. The 2009 exploration programme will include the collection and analysis of lithogeochemical samples, where trace elements are analysed to determine proximity to the source of the mineralization on the property. In addition, further prospecting, mapping and ground gravity surveys will be undertaken. According to President and CEO Marc Blythe Tarsis plans to carry out a larger gravity survey in 2009 over airborne Versatile Time Domain Electromagnetic geophysical targets and soil geochemical anomalies on the property to better define drill targets.
Tarsis has applied for any been granted YMIP (Yukon Mining Incentive Program) funding for the MOR project. Tarsis may claim up to $34,150 in incentive payments, which match expenditures on a dollar for dollar basis for approved exploration expenditures.
We expect more news from Tarsis as the company embarks on its exploration programme. As zinc fundamentals improve along with the world economy, Tarsis stands to benefit due to the exposure it provides to this important metal.
About Tarsis Resources
Tarsis is an exploration company following the prospect generator business model, with seven mineral properties in Yukon, Canada and one in Mexico. The Company acquires prospective base metal projects when base metal prices are low or of strategic value, and vends or options out projects to partners for advancement.