Communicators
are winners!
News
09.12.2009
Serengeti initiates Kwanika South Zone Resource Study & Reports results from Choo and Mil drilling
Serengeti initiates Kwanika South Zone Resource Study & Reports results from Choo and Mil drilling
Vancouver, B.C., December 09, 2009: Serengeti Resources Inc. (SIR: TSX-V) reports that Scott Wilson Roscoe Postle Associates Inc. have been engaged to complete the initial independent resource estimate on the South Zone at Kwanika. Drilling results are also reported from the final 2009 program holes drilled at the 100% held Choo and QUEST JV Mil property.
This initial resource estimate for the South Zone at Kwanika will be based on 28 holes totalling 9,900 meters drilled by Serengeti between 2006 and-2009. This drilling along with eleven historic holes and accompanying geophysical signature indicates the South Zone is a variably mineralized graben structure measuring greater than two kilometres in length and locally up to 500 meters in width. Given the relatively limited drilling to date, the resource estimate will only address a portion of this large potential zone. The Mineral Resource estimate will use a block model constrained by three dimensional wire frames of principal geological domains and is expected to be available early in the new year. Scott Wilson, RPA is an internationally recognized mining engineering firm specializing in provision of independent mineral resource evaluations.
Also, during October 2009, two holes totalling 592 meters were drilled on the 100% owned Choo property and three holes totalling 790 meters were drilled on the Mil property held by the QUEST JV with Fjordland Exploration. Both properties lie within 25 kilometers of Mt Milligan where Terrane Metals has recently received Environmental Assessment approval for their project from the federal government.
The two holes on Choo tested the eastern portion of a very large induced polarization (IP) chargeability anomaly, measuring six square kilometres in extent. Both holes encountered an extensive sequence of andesites and basalts locally cut by diorite dykes. The western-most hole encountered strong propylitic alteration with high concentrations of iron sulphides. The upper 160 meters of this hole returned broad intervals of weakly anomalous gold and locally elevated silver with a 10 meter interval grading 0.12 g/t gold. These two holes indicate a vector for further exploration towards the west. On the Mil (QUEST JV) property, two targets were tested. Two holes testing an IP anomaly in the eastern portion of the block did not return significant values. A third hole, testing an IP anomaly in the central portion of the property, encountered mafic volcanics cut by feldspar porphyry dykes beneath deep overburden. Copper values increased over the final 50 meters of the hole with the strongest values, 0.11% copper over the last eight meters in a strongly pyritic and silicified zone. This suggests that the target lies below the depth tested by this hole. These results at Choo and Mil will be integrated with prior exploration data to determine the next steps at these two well located properties.
About Serengeti
Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of discovery. The Company is focused on the advancement of its Kwanika copper-gold project which contains an Indicated Resource of 183 million tonnes grading 0.29% copper, 0.28 g/t gold at a 0.25% copper equivalent cutoff. This includes a higher grade zone of 75 million tonnes grading 0.41% copper and 0.42 g/t gold at a 0.4% copper-equivalent cutoff. Serengeti also continues to explore for additional gold and copper deposits on its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia. Additional information on Serengeti’s projects can be found on the Company’s website at www.serengetiresources.com Serengeti is well funded to advance its projects with a current working capital position of approximately $8.5 million which includes $2.2 million receivable from the B.C. government’s METC program. Serengeti has 45.8 million shares issued and outstanding or 51.3 million shares on a fully diluted basis.
Quality Assurance/Quality Control
Sample analysis for the current program was completed at Acme Analytical Laboratories Ltd in Vancouver, BC. A comprehensive quality assurance/quality control program including duplicate samples, blanks and standards formed part of the sampling protocol in addition to the laboratory’s own quality assurance program. The field program was supervised by Serengeti Resources Inc. staff and the technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and reviewed by the Company’s qualified person, David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc.
Cautionary Statement
This document contains “forward-looking statements” within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company’s documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
David W. Moore, President and CEO, Serengeti Resources Inc., 604-605-1300
Email: dmoore@serengetiresources.com Website: www.serengetiresources.com
Investor Relations: ph 604-685-8184 / Email: info@serengetiresources.com
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA8174991064">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA8174991064</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.
Vancouver, B.C., December 09, 2009: Serengeti Resources Inc. (SIR: TSX-V) reports that Scott Wilson Roscoe Postle Associates Inc. have been engaged to complete the initial independent resource estimate on the South Zone at Kwanika. Drilling results are also reported from the final 2009 program holes drilled at the 100% held Choo and QUEST JV Mil property.
This initial resource estimate for the South Zone at Kwanika will be based on 28 holes totalling 9,900 meters drilled by Serengeti between 2006 and-2009. This drilling along with eleven historic holes and accompanying geophysical signature indicates the South Zone is a variably mineralized graben structure measuring greater than two kilometres in length and locally up to 500 meters in width. Given the relatively limited drilling to date, the resource estimate will only address a portion of this large potential zone. The Mineral Resource estimate will use a block model constrained by three dimensional wire frames of principal geological domains and is expected to be available early in the new year. Scott Wilson, RPA is an internationally recognized mining engineering firm specializing in provision of independent mineral resource evaluations.
Also, during October 2009, two holes totalling 592 meters were drilled on the 100% owned Choo property and three holes totalling 790 meters were drilled on the Mil property held by the QUEST JV with Fjordland Exploration. Both properties lie within 25 kilometers of Mt Milligan where Terrane Metals has recently received Environmental Assessment approval for their project from the federal government.
The two holes on Choo tested the eastern portion of a very large induced polarization (IP) chargeability anomaly, measuring six square kilometres in extent. Both holes encountered an extensive sequence of andesites and basalts locally cut by diorite dykes. The western-most hole encountered strong propylitic alteration with high concentrations of iron sulphides. The upper 160 meters of this hole returned broad intervals of weakly anomalous gold and locally elevated silver with a 10 meter interval grading 0.12 g/t gold. These two holes indicate a vector for further exploration towards the west. On the Mil (QUEST JV) property, two targets were tested. Two holes testing an IP anomaly in the eastern portion of the block did not return significant values. A third hole, testing an IP anomaly in the central portion of the property, encountered mafic volcanics cut by feldspar porphyry dykes beneath deep overburden. Copper values increased over the final 50 meters of the hole with the strongest values, 0.11% copper over the last eight meters in a strongly pyritic and silicified zone. This suggests that the target lies below the depth tested by this hole. These results at Choo and Mil will be integrated with prior exploration data to determine the next steps at these two well located properties.
About Serengeti
Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of discovery. The Company is focused on the advancement of its Kwanika copper-gold project which contains an Indicated Resource of 183 million tonnes grading 0.29% copper, 0.28 g/t gold at a 0.25% copper equivalent cutoff. This includes a higher grade zone of 75 million tonnes grading 0.41% copper and 0.42 g/t gold at a 0.4% copper-equivalent cutoff. Serengeti also continues to explore for additional gold and copper deposits on its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia. Additional information on Serengeti’s projects can be found on the Company’s website at www.serengetiresources.com Serengeti is well funded to advance its projects with a current working capital position of approximately $8.5 million which includes $2.2 million receivable from the B.C. government’s METC program. Serengeti has 45.8 million shares issued and outstanding or 51.3 million shares on a fully diluted basis.
Quality Assurance/Quality Control
Sample analysis for the current program was completed at Acme Analytical Laboratories Ltd in Vancouver, BC. A comprehensive quality assurance/quality control program including duplicate samples, blanks and standards formed part of the sampling protocol in addition to the laboratory’s own quality assurance program. The field program was supervised by Serengeti Resources Inc. staff and the technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and reviewed by the Company’s qualified person, David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc.
Cautionary Statement
This document contains “forward-looking statements” within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company’s documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
David W. Moore, President and CEO, Serengeti Resources Inc., 604-605-1300
Email: dmoore@serengetiresources.com Website: www.serengetiresources.com
Investor Relations: ph 604-685-8184 / Email: info@serengetiresources.com
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA8174991064">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA8174991064</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.