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Friday, 4 October 2013
Tarsis turns up high-grade gold values on Yago site
High-grade gold values were confirmed in the exploration and assay results from Tarsis Resources Ltd’s (CVE:TCC) Yago gold-silver property in Mexico, the Vancouver-based explorer announced Thursday.
The company conducted a focussed orientation at two historical locations, La Tejona and La Sarda, within the central and northern parts of the property located in Nayarit State, Mexico. At both sites, previously reported vein zones were re-exposed and channel samples were collected using a diamond blade rock saw, Tarsis said.
La Tejona, the location central to the property, yielded 13.65 grams per tonne (g/t) of gold and 57.4 g/t silver across 0.37 metres, while La Sarda, the more northerly of the two locations, returned 10.40 g/t gold and 92.5 g/t silver across 0.52 metres.
"We are very encouraged with the results of our first work program at Yago,” said president and CEO Marc Blythe in a company statement released with the results, “particularly the potential widths of the vein system interpreted at La Tejona, in excess of 15 meters, coupled with the presence of multi-gram gold values at numerous locations on the property."
Significant assay results saw channel samples from the La Tejona location include one trench, the 2.88 metre wide LT-13-01, that returned results of 3.10 g/t of gold and 35.6 g/t of silver including one area 85 centimetres in width that showed 8.49 g/t of gold and 29.9 g/t of silver.
Meanwhile at the La Sarda location, where small-scale mining took place between 1998 and 2007, at least four sub-parallel northeast trending vein structures were identified. The focus of Tarsis’ recent campaign was the La Esperanza vein, with the intent of following up a number of recent chip samples taken along strike from the site of historical gold-silver production.
Three historical sample sites were located along a 600 m section of the vein, which is known to extend over 1,200 metres. According to the statement, significant assay results included the 3.55 metre wide trench, Esp C, which turned up 2.42 g/t of gold and 16.7 g/t of silver, including 4.82 g/t of gold and 32.9 g/t of silver in one 1.25 metre portion.
The project, 50 kilometres from the state capital, Tepic, which is close to paved highways and electrical transmission lines, spans 15,000 hectares.
Tarsis, which works to the model of project generation and early stage exploration, works to find and develop economic base and precious metal deposits and then vends or options them to partners for development. The company has projects in Nevada and the Yukon in Canada in addition to the Mexican property.
Shares in Tarsis closed up on the TSX Venture Exchange at 6 cents on Wednesday.