Serengeti Continues to Expand Central Zone at Kwanika
Serengeti Resources Inc. (TSX VENTURE: SIR) is pleased to report the results of the next batch of holes from its 2008 drill program currently underway on its 100% owned Kwanika copper-gold property, British Columbia.
“Drilling continues to expand the central copper-gold zone with excellent grades being encountered at the upper contact,” stated President & CEO David Moore. “K-89, the western-most hole also suggests that the mineralized zone may come closer to surface in this direction. Drilling on the southeastern IP target now also indicates copper-gold-molybdenum mineralization in six holes (two from current release) along 1,600 meters of strike length,” elaborated Moore.
Drill Holes K-08-80, K-08-83 to K-08-91 Significant Analytical Results ————————————————————————— Inter- Copper Gold Orient- From To val Au Ag Equiv. Equiv. ation Hole (m) (m) (m) Cu% g/t g/t Mo% % g/t (dip/az) ————————————————————————— Central Zone ————————————————————————— K-86 375.0 760.5 385.5 0.16 0.31 0.4 0.001 0.35 0.60 Vertical ———————————————————- Incl. 492.1 557.0 64.9 0.27 0.65 0.8 0.001 0.66 1.14 ———————————————————- And 632.9 654.8 21.9 0.41 1.30 1.1 – 1.18 2.02 ———————————————————- And 685.0 703.5 18.6 0.18 0.83 1.3 0.001 0.68 1.17 ————————————————————————— K-89 195.6 245.3 49.7 0.12 0.04 0.7 0.061 0.57 0.98 -84 ———————————————————- degrees/ Incl. 224.9 243.4 18.6 0.07 0.04 0.7 0.141 1.07 1.83 30 degrees ————————————————————————— K-90 480.3 816.0 335.8 0.19 0.28 0.5 – 0.36 0.61 -87 ———————————————————- degrees/ Incl. 484.2 524.8 40.6 0.66 0.79 1.7 – 1.14 1.95 180 ———————————————————- degrees Incl. 708.3 753.0 44.7 0.47 0.51 1.7 – 0.79 1.35 ————————————————————————— K-91 429.8 680.8 251.1 0.23 0.31 0.5 – 0.42 0.71 Vertical (ii) ———————————————————- Incl. 488.3 547.1 58.8 0.41 0.65 1.1 – 0.80 1.37 ————————————————————————— K-80 Returned No Significant Values ————————————————————————— South Area ————————————————————————— K-84 94.0 389.7 295.7 0.13 0.03 0.5 0.010 0.22 0.38 -70 ———————————————————- degrees/ Incl. 160.2 188.9 28.7 0.34 0.04 1.8 0.003 0.40 0.69 90 degrees ———————————————————- Incl. 241.4 326.5 85.2 0.15 0.03 0.6 0.023 0.33 0.57 ————————————————————————— K-85 130.9 288.4 157.5 0.19 0.06 1.1 0.003 0.26 0.44 -57 ———————————————————- degrees/ Incl. 180.5 241.5 61.0 0.29 0.11 1.6 0.003 0.39 0.67 90 degrees ————————————————————————— K-87 220.8 221.9 1.1 0.01 3.50 3.9 0.018 2.21 3.80 Vertical ————————————————————————— K-83, K-88 Returned No Significant Values ————————————————————————— (i) Copper and Gold Equivalent calculations use metal prices of US$1.75/lb for copper, US$12/lb for molybdenum, US$700/oz for gold and US$12.50/oz for silver and both assume metallurgical recoveries and net smelter returns of 100%. Copper (Cu) EQ equals Cu% + (Mo% x 12/1.75) + (Au g/t x 12.86/22.06) + (Ag g/t x 0.23/22.06). Gold (Au) EQ equals Au g/t + (Cu % x 38.60/22.5) + (Mo% x 264.72/22.5) + Ag g/t x 12.50/700). (ii) Partial Results only available.
Of the ten holes reported here, five were completed in the central zone and five in the southern target area. Since the start of the 2008 program in mid-January, over 23,000 meters of drilling have been completed in 48 holes; thirty-four of these have now been reported, additional results will be provided when available.
Central Zone: Three of four holes completed on the southwestern side of the central zone returned long intercepts of copper-gold mineralization including higher grade intervals as follows: 64.9 meters grading 0.27% Cu, 0.65 g/t Au and 21.9 meters grading 0.41% Cu, 1.1 g/t Au in K-86; 40.6 meters grading 0.66% Cu, 0.79 g/t Au in K-90; 58.8 meters grading 0.41% Cu, 0.65 g/t Au in K-91. The higher grade intervals in every case lie near the contact with an overlying sedimentary basin. It should be noted that only partial results are available and reported here for K-91. Hole K-89 is the western-most hole drilled to date in this area and was lost above the target zone but not before intersecting a molybdenum rich zone grading 0.12% Cu, 0.06% Mo over 49.7m. This mineralization was intercepted much shallower than expected and suggests that a strand of the Pinchi fault may offset and possibly up-throw the central zone along its western contact.
South Area: The holes drilled in the south-eastern IP geophysical target intersected significant mineralized intervals with best intersections of 85.2 meters grading 0.15% Cu, 0.03 g/t Au, 0.023% Mo in K-84 and 61.0 meters grading 0.29% Cu, 0.11 g/t Au, 0.003% Mo in K-85 which was drilled in the vicinity of the historic Kwanika resource.
Drilling continues with two rigs on the property, one of which is drilling deep holes on the west extension of the central zone and a second rig is drilling shallow holes in the southern copper-moly target. In addition a modest number of infill holes are planned as a part of the current program to enable a resource calculation of the central copper-gold zone.
The highlights of this drilling are provided in the table above, as are drill hole orientations. Hole locations are shown on the map attached. Drill sections and a 3D model can be viewed at www.corebox.com or by following a link on the Company’s website at www.serengetiresources.com.
Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of exploration success. The Company is focused on the advancement of its Kwanika copper-gold project and on the discovery of copper-gold and molybdenum 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.
Quality Assurance/Quality Control
Sample analysis for the current program was completed at Global Discovery Lab 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. Individual copper values exceeding 2000ppm and gold values exceeding 100ppb were assayed and these intervals combined with geochemical determinations on the balance of the samples, with all results reported in % and g/t respectively. This procedure will generally result in an understatement of the average grades. The field program was supervised by Rich Parish, P. Geo., of Coast Mountain Geological Inc. 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 persons, Myron Osatenko, P. Geo., Chief Geologist and David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc.
This document contains “forward-looking statements” within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact here-in, including, without limitation, statements regarding exploration results and 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.
To view accompanying map, please click on the following link: http://media3.marketwire.com/docs/SIR_DrillHoles.jpg. This map can also be viewed at www.serengetiresources.com.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Contacts: Serengeti Resources Inc. David W. Moore President and CEO (604) 605-1300 (604) 899-1240 (FAX) Email: email@example.com Serengeti Resources Inc. Investor Relations (604) 685-8184 Email: firstname.lastname@example.org Website: www.serengetiresources.com
SOURCE: Serengeti Resources Inc.