Tarsis Resources Ltd.: Drilling Commences at Prospector Mountain, Yukon
September 10 2010 - 9:00AM
Marketwired Canada
Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis") is pleased to announce that
diamond drilling has commenced on its Prospector Mountain project, Yukon.
Drilling is being carried out by optionee Silver Quest Resources Ltd. (TSX
VENTURE:SQI) ("Silver Quest").
Silver Quest has awarded a diamond drilling contract to Apex Diamond Drilling
Ltd., to complete 1,500 meters at Prospector Mountain in eleven holes.
The drill holes are designed to test mineralization underneath the Bonanza Zone,
first discovered by Tarsis in 2009 and confirmed by Silver Quest during 2010.
The Bonanza Zone features strongly anomalous gold, copper and silver assays from
grid soil sampling within a 1,000 meter by 550 meter area, as previously
disclosed. During their first phase of exploration at Prospector Mountain this
season, Silver Quest collected two select prospecting samples which returned
assays of 109 g/t gold and 53 g/t gold respectively. Gold assays from select
rock samples ranged from below detection to 109 g/t (refer Tarsis Press Release
dated August 4, 2010).
Silver Quest has an option to acquire an initial 60% interest in the Prospector
Mountain property by completing the following:
-- Spending $4 million on exploration over four years (2010 - $350k must be
spent)
-- Issuing one million Silver Quest shares to Tarsis (200,000 issued)
-- Making payments of $300,000 ($50,000 paid to date)
Silver Quest may earn an additional 10% interest by completing a feasibility study.
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, P.Eng., MBA, President and Chief Executive Officer
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