Tarsis Resources (CVE:TCC) has unveiled high grade channel sampling results from its Tim property in southern Yukon, after a short program was conducted in September to re-evaluate an historical silver-lead rich zone.
The historical zone, which was exposed by mechanized trenching in 1988, is reported to have returned -- from channel sampling work done in the past -- 352 grams per tonne (g/t) of silver and 9.12% lead across 4.0 metres. Similar mineralization was also reported in adjacent trenches 180 and 250 metres on either side of the central trench, with no drill testing ever undertaken in this area, said Tarsis.
The company said Monday its field crew re-located the central historical trench, and exposed the main showing with hand tools, with recent channel sampling results showing 220 g/t silver and 4.74% lead over 6.40 metres.
A total of 6.4 metres of footwall alteration and carbonate replacement mineralization were exposed at the base of the trench with three series of sawn channel samples taken across the exposure at about 1 metre spacing between channels.
The property, which was initially staked in 1983, saw a mixture of exploration work carried out during the 1980s, before being acquired by Tarsis in 2007 and then optioned out to International KRL Resources, now Acme Resources.
The company said the asset has the potential for carbonate-hosted mineralization similar to that at the nearby Midway/Silvertip project owned by Silvercorp Metals.
Tarsis is a junior explorer that functions on a prospect generator business model, which means it seeks out prospective exploration projects to acquire, and then vends or options them to partners for development. It is now pursuing a JV partner for the BP project in Nevada, as it believes the property is close to drill ready.
The company, which optioned out its Erika property in Mexico to Osisko Mining (TSE:OSK) earlier this year, has been able to raise funds from some marquee names due to its busines s model in a tough market, including the likes of Kinross Gold (TSE:K), Sprott's Rick Rule and Almaden Minerals.