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Thursday, 19 September 2013
Tarsis Resources says BP exploration supports Carlin-style gold
Tarsis Resources (CVE:TCC) unveiled Thursday exploration results from its newly purchased BP property just south of Carlin, Nevada, which the company says support the presence of Carlin-style gold mineralization at the site.
The BP property, which is being explored for this type of gold system, is located within the southern Carlin trend between the Rain and Bald Mountain deposits.
The company said in a statement Thursday that prospecting and outcrop sampling has found gold-bearing "jasperoid breccia samples", with grades ranging from below detection to 247 parts per billion (ppb) gold. Jasperoid with anomalous gold values feature elevated Carlin-style pathfinder elements, which include arsenic, thallium, mercury and antimony.
"The most significant of these samples occur intermittently along an 850 meter linear trend believed to coincide with a series of high-angle faults providing conduits for Carlin-style gold bearing fluids," Tarsis added.
The BP claim block was acquired from Almaden Minerals(TSE:AMM), along with six other projects in Nevada and Mexico, as announced in March of this year. Before the acquisition from Almaden, Tarsis had nine properties in the Yukon, Canada, and one in Mexico - the Erica property, which the company earlier this year optioned to Osisko Mining Corp (TSE:OSK).
"We are very pleased to have identified key technical indicators that support the presence of a Carlin-style gold system at BP," said president and CEO of Tarsis, Marc G. Blythe, in the release Thursday.
"Gold-bearing jasperoid may be of particular significance as there are many documented spatial links of this style of mineralization above and lateral to known Carlin gold deposits."
Tarsis, which functions on a prospect generator model, has collected 144 rock samples from the BP property this year, in addition to 232 infill and grid expansion soil samples. Anomalous gold-in-soil values range from 5 ppb to a maximum of 34.9 ppb and are coincident with the gold-bearing jasperoid samples, the company said.
The Canadian junior's business model 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, as it believes the property is close to drill ready.
The business model has allowed Tarsis to raise funds from some marquee names in a tough market, including the likes of Kinross Gold (TSE:K), Sprott's Rick Rule and Almaden Minerals.