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Tuesday, April 22, 2008
Serengeti continues to expand Copper-Gold zone at Kwanika
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Vancouver, B.C., April 22, 2008: Serengeti Resources Inc. (TSX-V: SIR) is pleased to report the results of the latest six holes from its 2008 drill program currently underway on its 100% owned Kwanika copper-gold property, British Columbia.
"The drilling at Kwanika continues to expand the western side of the mineralized system" stated Serengeti President and CEO David Moore. "Both rigs on the property are currently dedicated to this objective and we are very pleased with the way this deep target is developing", elaborated Moore.
Drill Holes K-08-63 to K-08-68 Significant Analytical Results
Hole |
From (m) |
To (m) |
Interval (m) |
Copper % |
Gold g/t |
Silver g/t |
Copper Equiv. % |
Gold Equiv. g/t |
Orientation (dip/azimuth) |
K-08-63 |
400.6 |
598.9 |
198.4 |
0.34 |
0.53 |
1.1 |
0.66 |
1.13 |
Vertical |
Incl. 405.1 |
520.8 |
115.8 |
0.48 |
0.68 |
1.4 |
0.89 |
1.52 |
Incl. 452.6 |
500.5 |
47.9 |
0.58 |
1.05 |
1.9 |
1.21 |
2.07 |
K-08-64 |
240.1 |
251.7 |
11.6 |
0.16 |
0.09 |
1.0 |
0.22 |
0.38 |
-65º /270º |
268.4 |
297.2 |
28.9 |
0.16 |
0.12 |
0.9 |
0.24 |
0.41 |
336.7 |
364.8 |
28.0 |
0.22 |
0.17 |
1.0 |
0.33 |
0.56 |
417.3 |
427.3 |
10.0 |
0.21 |
0.11 |
0.8 |
0.28 |
0.48 |
K-08-65 |
161.0 |
597.5 |
436.5 |
0.32 |
0.14 |
0.8 |
0.41 |
0.70 |
-58º /263º |
Incl. 161.0 |
218.8 |
57.8 |
0.28 |
0.11 |
0.4 |
0.35 |
0.60 |
And 236.2 |
479.0 |
242.8 |
0.49 |
0.21 |
1.3 |
0.62 |
1.07 |
Incl. 281.2 |
312.6 |
31.5 |
0.96 |
0.14 |
1.3 |
1.05 |
1.80 |
And 403.5 |
465.0 |
64.5 |
0.45 |
0.29 |
1.7 |
0.63 |
1.08 |
620.3 |
657.8 |
37.5 |
0.22 |
0.13 |
0.5 |
0.30 |
0.51 |
K-08-66 |
164.3 |
191.1 |
26.8 |
0.16 |
0.12 |
0.7 |
0.24 |
0.40 |
-60º /270º |
223.3 |
331.7 |
108.4 |
0.20 |
0.20 |
0.6 |
0.32 |
0.55 |
K-08-67 |
157.4 |
159.2 |
1.8 |
0.95 |
0.32 |
5.5 |
1.18 |
2.02 |
Vertical |
K-08-68 |
NSV |
Vertical |
*Copper and Gold Equivalent calculations use metal prices of US$1.50 for copper, US$600/oz for gold and US$8.00/oz for silver and both assume metallurgical recoveries and net smelter returns of 100%. Copper (Cu) EQ = Cu% + (Au g/t x 12.86/22.06)+ (Ag g/t x 0.171/22.06). Gold (Au) EQ = Au g/t + (Cu % x 33.09/19.29 + Ag g/t x 8.00/600).
The highlights of this drilling are provided in the table above, as are drill hole orientations. Hole locations are shown on the map overleaf. 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
Of the six holes reported here, two holes, K-08-63, 65 tested the southwestern side of the mineralized zone. Two other holes, K-08-64, 66 tested the northern extension of the main zone and two holes, K-08-67, 68 were drilled along its eastern edge. Since the start of the 2008 program in mid-January, more than 14000 m of drilling have been completed in 31 holes including testing targets to the north and south of the main zone. Eleven of these holes have now been reported; additional results will be provided when available.
Hole K-08-63: A vertical hole drilled on Section 200N, encountered a 198.4 meter intercept grading 0.34% Cu, 0.53 g/t Au , including a high grade interval carrying 0.58% Cu, 1.05 g/t Au over 47.9 m. Three other vertical holes have been completed in this general area; K-86 and K-74, 50m and 100 m north respectively and K-78, 75 m west of K-63. All are visibly mineralized over similar intervals to K-63.
Hole K-08-65: An angled hole collared from section 100N, as expected intersected a broad moderate grade zone carrying 0.32% Cu, 0.14 g/t Au over 436.5 m including 242.8 m assaying 0.49% Cu, 0.21 g/t Au within which occur two intervals of higher grade on the either margin of the zone. As indicated by drilling on the next section to the south, this hole lies near the southern edge of the higher grade copper-gold zone.
Holes K-08-66,64: Two angled holes drilled on Sections 675N and 800N, demonstrate a continuity of the moderate grade, 1:1 ratio copper-gold mineralization previously encountered in this area, particularly hole K-66 which intersected 108.4 m grading 0.2% Cu, 0.2 g/t Au.
Holes K-08-67,68: Two vertical holes drilled on the east side of Sections 400N and 300N, show generally low values except for a sulphide vein carrying 0.95% Cu, 0.32 g/t Au over 1.8 m in K-67. These holes establish an eastern limit to the mineralized system.
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 persons, Myron Osatenko, P. Geo., Chief Geologist and David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc.
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
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release
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.
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