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TCC Trenchant Capital Corp

0.04
0.00 (0.00%)
27 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Trenchant Capital Corp TSXV:TCC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.04 0.045 0.085 0 01:00:00

Tarsis Commences Exploration at BP, Nevada and Finalizes Almaden Property Acquisition

17/06/2013 9:15pm

Marketwired Canada


Tarsis Resources Ltd. (TSX VENTURE:TCC) ("Tarsis" and "the Company") is pleased
to announce that it has begun exploration at the newly acquired BP property,
located 60 km south of Carlin, Nevada. The BP property is being explored for
Carlin-style gold mineralization along the Rain Trend.


The BP claim block was acquired from Almaden Minerals Ltd. (TSX:AMM)(NYSE
AMEX:AAU) ("Almaden") along with six other projects located in Nevada and Mexico
(see press release dated March 4, 2013). A final agreement for the acquisition
of these projects has now been completed as contemplated in the Letter of
Intent.


BP Property Exploration Progress

The BP property is the more advanced of the two claim blocks acquired in Nevada
and features stratigraphy, structure and geochemistry the Company believes to be
prospective for Carlin-style gold mineralization. Some of the prospective
attributes include outcropping jasperoid breccias in the vicinity of interpreted
structural corridors, anomalous gold plus arsenic-thallium-antimony-mercury
pathfinder geochemistry and permissive stratigraphy. 


Widely spaced preliminary soil geochemistry from the property features anomalous
Carlin-style pathfinder responses including gold (below detection to 34.9 ppb),
thallium (0.46 to 4.42 ppm), arsenic (7.3 to 130 ppm), antimony (1.42 to 18 ppm)
and mercury (0.01 to 1.03 ppm). No evidence of modern gold exploration is
visible on the property apart from the soil geochemistry referenced here.


Work on the property during 2013 will include expanded grid-controlled soil
sampling, prospecting and detailed mapping. Tarsis' geological team were on the
ground and started carrying out this work in May.


Results from this exploration will be announced once the data has been received
and compiled.


Almaden Property Acquisition

The Company has signed a final agreement for the acquisition of seven projects
from Almaden in Nevada and Mexico.


Under the terms of the acquisition, Tarsis will own a 100% interest in the
following gold projects:




--  Mexico: Yago, Gallo de Oro, Mezquites, San Pedro and Llano Grande 
--  Nevada: BP, BJS



Tarsis will pay Almaden 4 million common shares and grant a 2% net smelter
returns (NSR) royalty on any production from the projects.


In addition, areas of influence have been outlined in Nevada and Mexico, where
Almaden will provide its proprietary data and concepts to Tarsis. In return,
Tarsis will issue 200,000 shares to Almaden for each new property acquired
within the area of influence. Tarsis will issue a further 800,000 shares to
Almaden upon the first time disclosure of a mineral resource on each and any of
the new properties.


The acquisition is subject to acceptance for filing by the TSX Venture Exchange.

Tarsis President & CEO Marc Blythe states "This acquisition will help to
increase Tarsis' exposure in Mexico and Nevada, both of which are considered
favourable mining jurisdictions. We look forward to providing detailed
information on each of these projects as exploration advances."


The Properties

The Nevada properties are prospective for gold and feature Carlin-style
pathfinder elements and geological settings believed to be supportive of this
model.


The road-accessible BP property is located between the Rain Mine (Newmont Mining
Corporation) and the Bald Mountain Mine (Barrick Gold Corporation). 


Each of the properties located in Mexico feature epithermal style mineralization
and is prospective for gold and silver. 


The technical information contained in this press release was prepared by Mr.
Marc G. Blythe, P.Eng., the President and CEO of Tarsis Resources Ltd. Mr.
Blythe is a Qualified Person as defined by NI 43-101.


About Tarsis Resources

Tarsis is an exploration company following the prospect generator business
model. The Company acquires prospective exploration projects by acquisition or
through its own grass roots generative exploration, adds value and then vends or
options out projects to partners for advancement.


On behalf of the Board,

Marc G. Blythe, P.Eng., MBA.

President and Chief Executive Officer

This news release was prepared by Company management, which takes full
responsibility for content. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tarsis Resources Ltd.
Marc G. Blythe, P.Eng., MBA.
President and Chief Executive Officer
(604) 689-7644


Tarsis Resources Ltd.
Mark T. Brown, C.A.
Chief Financial Officer
(604) 687-3520
info@tarsis.ca
www.tarsis.ca

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