Quantcast
Last updated on April 18, 2014 at 21:21 EDT

Serengeti Intersects 482 Meters Grading 0.51% Copper, 0.90 G/T Gold in Central Zone and Reports Best Hole to Date on South Zone

September 11, 2008

Serengeti Resources Inc. (TSX VENTURE: SIR) is pleased to report continued excellent results from the Central Zone and the best results to date on the South Zone from the 2008 drill program at its 100% owned Kwanika copper-gold property in BC.

“Hole K-113 clearly demonstrates the exceptional grade and widths present in the heart of the Central Zone at Kwanika intersecting 0.5% copper, 0.9 g/t gold over 482.5 meters,” stated President & CEO David Moore. “We have also intersected the longest, highest grade and most gold-rich intercept drilled so far in the South Zone where hole K-110 cut a 313.8 meter mineralized interval including 54.0 meters assaying 0.34% copper, 0.76 g/t gold. This has very positive implications for the grade and tonnage potential of the South Zone at Kwanika,” elaborated Moore.

                Central Zone Significant Analytical Results -------------------------------------------------------------------------                                                     Cop-                                                     per Gold                         Inter- Cop-      Sil-        Eq-  Eq-                      To   val  per Gold  ver    Mo  uiv. uiv. Orientation Hole      From (m)   (m)   (m)   %  g/t  g/t     %    %  g/t (dip/azimuth) -------------------------------------------------------------------------             176.5 659.0 482.5 0.51 0.90  1.4     - 1.05 1.80       ------------------------------------------------------       Incl. 176.5 455.0 278.5 0.76 1.39  2.0     - 1.59 2.73 K-113 ------------------------------------------------------  -80 degrees /       Incl. 401.5 455.0  53.5 0.98 2.40  2.4     - 2.41 4.13   85 degrees       ------------------------------------------------------         And 521.5 555.0  33.5 0.37 0.55  1.5     - 0.71 1.22 -------------------------------------------------------------------------             422.2 774.0 352.1 0.29 0.27  0.9 0.001 0.46 0.79       ------------------------------------------------------       Incl. 422.2 533.0 110.9 0.54 0.51  1.5     - 0.85 1.47 K-107 ------------------------------------------------------  Vertical         And 631.0 683.5  52.5 0.38 0.31  1.6 0.002 0.59 1.02       ------------------------------------------------------         And 721.9 774.0  52.3 0.31 0.19  0.5 0.001 0.43 0.75 -------------------------------------------------------------------------              51.0  80.8  29.8 0.51 0.18  1.0     - 0.63 1.08       ------------------------------------------------------             141.0 171.0  30.0 0.17 0.10  0.1 0.001 0.23 0.40 K-111 ------------------------------------------------------  -85 degrees /             214.5 218.5   4.0 0.87 0.34  1.2 0.001 1.09 1.87   85 degrees       ------------------------------------------------------             406.5 607.3 200.8 0.16 0.11  0.7 0.001 0.24 0.41 -------------------------------------------------------------------------               K-103 and K-112 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). 

Of the 11 holes reported here, five were drilled in and around the Central Zone and six on the South Zone. The 2008 drill program which was completed in early August consisted of 66 holes totaling 31,429 meters. Results are pending for 10 of these holes and will be released when available. Since the inception of drilling at Kwanika, over 55,000 meters have been completed in 123 holes. This very large database will be used in a resource calculation for incorporation into a NI 43-101 compliant geological report by year end 2008.

Central Zone: Hole K-113 was drilled as an infill hole in the heart of the Central Zone and intersected 482.5 meters grading 0.51% Cu, 0.90 g/t Au with a supergene-enriched chalcocite-bearing interval grading 0.76% Cu, 1.39 g/t Au over 278.5 meters. K-107 was drilled as a step-out on the deep western extension of the Central Zone and encountered a higher grade section carrying 0.54% Cu, 0.51 g/t Au over 110.9 meters at the upper contact of a broad mineralized zone. Hole K-112 drilled on the southwest edge of the zone did not intersect significant mineralization and K-103 was not completed to target depth. Hole K-111 drilled on the east side of the Central Zone encountered a near surface zone grading 0.51% Cu, 0.18 g/t Au over 29.8 meters and a deeper lower grade zone which expands the mineralized envelope to the east of prior drilling.

South Zone: The highlight of the current holes in the South Zone is K-110 which intersected a broad 313.8 meter mineralized zone within which a 54.0 meter section grades 0.34% Cu, 0.76 g/t Au. A sulphide rich zone within this interval carries 1.56% Cu, 5.03 g/t Au over 6 meters. These are the highest gold grades seen to date in the South Zone and demonstrate the potential to discover a significant copper-gold-molybdenum zone within the large, 2,000 meter long, associated IP geophysical anomaly. The closest holes to K-110 are located 250 meters to the north and 300 meters to the south. At the northern end of the South Zone, holes K-104 and 106 to 109 were drilled as 50 meter step-outs and K-105 as a 100 meter step-out on prior holes K-82, K-102. Collectively, seven of these eight holes intersect a near-surface zone of chalcopyrite and locally significant molybenite mineralization varying from 34 to 119 meters thick within a 150×150 meter drilled area open in three directions. Copper-equivalent grades in the recently reported holes range from 0.4 to 0.6%.

                 South Zone Significant Analytical Results -------------------------------------------------------------------------                                                     Cop-                                                     per Gold                         Inter- Cop-      Sil-        Eq-  Eq-                      To   val  per Gold  ver    Mo  uiv. uiv. Orientation Hole      From (m)   (m)   (m)   %  g/t  g/t     %    %  g/t (dip/azimuth) -------------------------------------------------------------------------              44.3 358.0 313.8 0.22 0.22  1.4 0.006 0.40 0.69       ------------------------------------------------------        Incl. 44.3 284.0 239.8 0.27 0.24  1.7 0.007 0.48 0.82 K-110 ------------------------------------------------------  -55 degrees /       Incl. 230.0 284.0  54.0 0.34 0.76  2.3 0.004 0.84 1.43   90 degrees       ------------------------------------------------------       Incl. 250.0 256.0   6.0 1.56 5.03 10.1 0.018 4.72 8.10 -------------------------------------------------------------------------              28.2  76.0  47.9 0.46 0.04  2.9 0.011 0.59 1.01 K-104 ------------------------------------------------------  Vertical             130.9 140.9  10.0 0.12    -  1.0 0.001 0.14 0.23 -------------------------------------------------------------------------              75.0  85.0  10.0 0.21 0.02  1.5 0.001 0.24 0.42       ------------------------------------------------------ K-105        91.0  99.0   8.0 0.23 0.05  1.2 0.002 0.29 0.49  Vertical       ------------------------------------------------------             121.0 155.0  34.0 0.50 0.05  2.4 0.007 0.60 1.04 -------------------------------------------------------------------------              27.8 142.0 114.2 0.40 0.03  2.4 0.010 0.51 0.87       ------------------------------------------------------ K-106  Incl. 27.8  83.8  56.0 0.57 0.04  3.3 0.007 0.68 1.16  Vertical       ------------------------------------------------------             176.0 188.0  12.0 0.10 0.02    1 0.003 0.14 0.25 -------------------------------------------------------------------------              41.1 134.0  92.9 0.21 0.02  1.3 0.025 0.41 0.70 K-108  -----------------------------------------------------  Vertical        Incl. 41.1  68.0  26.9 0.55 0.05  3.0 0.035 0.85 1.46 -------------------------------------------------------------------------              58.0  64.0   6.0 0.21    -  1.1 0.027 0.40 0.69       ------------------------------------------------------ K-109        76.0  84.0   8.0 0.13 0.04  0.6 0.005 0.20 0.34  Vertical       ------------------------------------------------------              90.0  97.0   7.0 0.07    -  0.3 0.022 0.23 0.39 ------------------------------------------------------------------------- 

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 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 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/sir911.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.