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Additional Information
Market: TSX-V
Sector: General Mining
EPIC: TCC
Latest Price: 0.31  (-3.13% Descending)
52-week High: 0.84
52-week Low: 0.18
Market Cap: 8.49M
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Tarsis Resources
www.tarsis.ca

Tarsis is a project generator and early stage explorer, working to find and develop economic base and precious metal deposits. We aim to identify and advance exciting projects by joint venturing with enthusiastic partners and through our own early stage exploration programs. Tarsis currently has projects in Yukon, Canada and Mexico.

Full Tarsis Resources profile here
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Tarsis Resources options Prospector Mountain gold-silver-copper project to Silver Quest

15th Dec 2009, 3:12 pm
Tarsis Resources options Prospector Mountain gold-silver-copper project to Silver Quest

Tarsis Resources (TSX-V: TCC) has signed an option agreement with Silver Quest Resources (TSX-V: SQI), giving the latter the right to earn up to a 70% interest in the 5,000 ha (hectare) Prospector Mountain project in south western Yukon in Canada.


Silver Quest may now earn an initial 60% in the project by spending C$4 million on exploration over four years, issuing one million shares and paying C$0.3 million to Tarsis. The company has a firm commitment to spend C$0.35 on exploration in the first year of the agreement with 200,000 shares and C$50,000 payable over the same period.


A further increase to 70% is possible if Silver Quest completes an NI43-101 compliant feasibility study on the project within 36 months of initial earn in.


The Prospector Mountain property consists of 239 mineral claims, or approximately 4,996 ha and is located in the Tintina Gold Belt 90 kilometres northwest of Carmacks, Yukon. The claims cover a high-level porphyry copper-gold system, the core of which is believed to be hosted within the eastern part of the claim block while peripheral epithermal gold-silver-lead vein targets occur within the western part of the property.


During 2009, Tarsis carried out prospecting and early stage exploration, which led to the discovery of a new zone, subsequently termed the Bonanza Zone. Highlights prom the sampling included 82.8 g/t (grammes per tonne) gold, 299 g/t silver and 1.49% copper; 14.0 g/t gold, 1,340 g/t silver and 11.65% copper; 55.7 g/t gold, 1,375 g/t silver and 7.38 % copper and 82.2 g/t gold, 888 g/t silver and 5.97% copper.


“We are very pleased to have (Silver Quest) option this project from us and we look forward to further exciting results from exploration,” said President and Chief Executive of Tarsis Marc Blythe.

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