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Serengeti Intersects 65 Meters Grading 1.09% Copper, 1.21 G/T Gold and 87 Meters Grading at 0.89% Copper, 1.18 G/T Gold at Kwanika

July 31, 2008

Serengeti Resources Inc. (TSX VENTURE: SIR) reports additional promising results from the next batch of holes in the 2008 drill program underway on it’s 100% owned Kwanika copper-gold property, British Columbia.

“Clearly we are pleased that we continue to encounter long intervals of high grade copper-gold mineralization in step-out holes along the western side of the central zone at Kwanika,” stated President and CEO David Moore. “In addition, four holes to the north of the central zone confirm a 500 meter long northern extension. Drilling on the south-eastern IP anomaly continues to intersect near the surface copper-moly mineralization,” elaborated Moore.

 Drill Holes K-08-91 to K-08-97 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 ---------------------------------------------------------------------------            429.8 733.6  303.9  0.25 0.35 0.6     -  0.46   0.79       ---------------------------------------------------------- K-91 Incl. 488.3 547.1   58.8  0.41 0.65 1.1 0.001  0.80   1.38  Vertical       ----------------------------------------------------------      And   695.6 733.6   38.0  0.44 0.72 1.7 0.001  0.88   1.51 ---------------------------------------------------------------------------            346.6 730.6  384.1  0.14 0.14 0.7     -  0.23   0.39       ---------------------------------------------------------- K-92 Incl. 666.3 679.8   13.5  0.32 0.54 1.4     -  0.65   1.12  Vertical       ----------------------------------------------------------      And   713.5 730.6   17.1  0.22 0.35 0.8     -  0.43   0.74 ---------------------------------------------------------------------------            416.7 668.0  250.0  0.48 0.57 1.9     -  0.83   1.43  K-93 ----------------------------------------------------------  Vertical       Incl. 422.0 509.1   87.1  0.89 1.18 2.4     -  1.60   2.75 ---------------------------------------------------------------------------            434.9 744.2  309.4  0.10 0.14 0.5     -  0.19   0.32 K-94 ----------------------------------------------------------  Vertical       Incl. 518.4 584.3   65.9  0.17 0.14 0.8 0.001  0.27   0.46 ---------------------------------------------------------------------------            424.0 770.5  346.5  0.46 0.47 1.4 0.001  0.75   1.29      ----------------------------------------------------------      Incl. 441.7 598.8  157.1  0.78 0.83 2.0     -  1.29   2.21 K-96 ----------------------------------------------------------  Vertical       Incl. 441.7 507.3   65.6  1.09 1.21 2.8     -  1.82   3.13      ----------------------------------------------------------      And   547.6 598.8   51.2  0.92 0.78 2.4     -  1.40   2.40 ---------------------------------------------------------------------------            415.9 570.7  154.9  0.42 0.30 1.1     -  0.61   1.04      ----------------------------------------------------------      Incl. 415.9 511.5   95.7  0.63 0.41 1.6     -  0.89   1.52 K-97 ----------------------------------------------------------  Vertical       Incl. 433.8 467.5   33.7  1.24 0.73 2.7     -  1.70   2.91      ----------------------------------------------------------            618.2 799.4  181.2  0.25 0.16 0.5 0.002  0.36   0.62 --------------------------------------------------------------------------- K-95 Returned No Significant Values --------------------------------------------------------------------------- - 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). 

Of the 12 holes reported here, seven were step-out holes completed along the western edge of the central copper-gold zone. Partial results for one of these, K91, had previously been reported. Four of the holes reported were drilled on the northern extension of the central zone and one step-out hole was drilled on the southern copper-molybdenum zone. Since the start of the 2008 program in mid January, over 28,000 meters of drilling have been completed in 59 holes. Drilling will continue on the property into early August when the current drill campaign will be completed. The Company will then move towards a resource calculation by year-end.

 Drill Holes K-08-98 to K-08-102 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) ---------------------------------------------------------------------------                                North Extension ---------------------------------------------------------------------------            197.0 277.8   80.8  0.17 0.18 0.2     -  0.28   0.48  -60 K-98                                                             degrees to                                                                  90 degrees ---------------------------------------------------------------------------            308.0 371.0   63.0  0.19 0.16 0.5     -  0.29   0.50  -60 K-99                                                             degrees to                                                                  90 degrees ---------------------------------------------------------------------------             63.0 459.5  396.5  0.13 0.16 0.8 0.001  0.24   0.40      ----------------------------------------------------------  -60  K-100 Incl.179.0 288.5  109.5  0.19 0.29 0.9 0.001  0.37   0.64  degrees to       ----------------------------------------------------------  90 degrees       Incl. 308.0 320.0   12.0  0.25 0.40 3.8 0.004  0.55   0.95 ---------------------------------------------------------------------------            116.7 486.8  370.1  0.16 0.19 0.5     -  0.28   0.48  -55      ----------------------------------------------------------  degrees to K-101 Incl.116.7 300.0  183.3  0.23 0.21 0.4 0.001  0.36   0.62  270      ----------------------------------------------------------  degrees      Incl. 394.0 486.8   92.8  0.17 0.27 1.1     -  0.34   0.58 ---------------------------------------------------------------------------                                 South Zone ---------------------------------------------------------------------------             28.0 147.0  119.0  0.35 0.05 1.9 0.013  0.49   0.84       ---------------------------------------------------------- K-102 Incl. 29.8  35.1    5.3  0.72 0.09 4.1 0.024  0.98   1.68  Vertical       ----------------------------------------------------------         And 67.3 137.0   69.7  0.43 0.05 2.1 0.018  0.60   1.03 --------------------------------------------------------------------------- 

Central Zone: Three of the new holes in particular on the southwestern side of the central zone returned long intercepts of copper-gold mineralization including higher grade intervals as follows: 87.1 meters grading 0.89% Cu, 1.18 g/t Au in K-93; 65.6 meters grading 1.09% Cu, 1.21 g/t Au and 51.2 meters grading 0.92% Cu, 0.78 g/t Au in K-96; 95.7 meters grading 0.63% Cu, 0.41 g/t Au in K-97. As in the case of prior holes, the higher grade intervals lie near the upper boundary of the zone with an overlying sedimentary basin. Two of the holes, K-92, K-94 intersected long intervals of lower grade mineralization that appear peripheral to central copper-gold zone. Hole K-95 drilled to the west towards the Pinchi fault was not completed to target depth. All seven holes reported here are step-outs drilled on 50×75 meter centers and continue to expand the zone to the west.

North Extension: Drilling of the four holes in the northern extension of the main zone shows a broad zone of approximately 200 meters true width of modest grade mineralization (eg. 370.1 meters grading 0.16% Cu, 0.19 g/t Au in K-101) gradually narrowing to the north along 525 meters of strike length.

South Zone: One hole, K-102 was drilled as a 50 meter step-out from prior hole K-82 and intersected a near surface zone of copper-molybdenum mineralization grading 0.35% Cu, 0.05 g/t Au, 0.013% Mo over 119 meters with several higher grade sub-intervals. This hole and others drilled in the vicinity for which results are pending indicate that a near surface zone of copper-molybdenum mineralization is present in this area.

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.net or by following a link on the Company’s website at www.serengetiresources.com.

About Serengeti

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 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 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/sir730map.pdf.

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: dmoore@serengetiresources.com  Serengeti Resources Inc. Investor Relations (604) 685-8184 Email: info@serengetiresources.com Website: www.serengetiresources.com

SOURCE: Serengeti Resources Inc.




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