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Vancouver, B.C., October 2, 2007: Serengeti Resources Inc. (TSX-V: SIR) is pleased to report assays from the next batch of holes from its 100% owned Kwanika porphyry copper-gold property, where a major follow-up drill program is underway. Kwanika is located in the prolific Quesnel Trough of north-central British Columbia.
"We continue to encounter excellent grades near surface in these recent holes, particularly in gold" stated Serengeti President and CEO David Moore. "These holes demonstrate that the system remains open for expansion to the east and there is also growing evidence for an extensive zone of more moderate grade mineralization at depth. Drilling continues with two drills turning on a 24 hour basis in a program that should be delivering results out through the end of the year" stated Moore.
K-07-30 to K-07-34 Significant Results
| Hole |
From (m) |
To
(m) |
Interval
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Copper Equiv.
%* |
Gold
Equiv.
g/t* |
Orientation
(dip/az.) |
K-07-30
(Partial) |
530.5 |
681.5 |
151.0 |
0.19 |
0.21 |
0.4 |
0.32 |
0.54 |
-80° to 270° |
| Incl. 600.8 |
632.7 |
31.9 |
0.30 |
0.32 |
0.7 |
0.49 |
0.85 |
| K-07-31 |
25.1 |
183.7 |
158.6 |
0.55 |
0.44 |
1.1 |
0.82 |
1.40 |
Vertical |
| Incl. 57.0 |
86.0 |
29.0 |
0.92 |
1.44 |
1.9 |
1.77 |
3.05 |
| 348.1 |
492.9 |
144.7 |
0.30 |
0.32 |
0.9 |
0.49 |
0.85 |
| K-07-32 |
43.9 |
106.7 |
62.8 |
0.43 |
0.70 |
1.3 |
0.85 |
1.46 |
-60º to 270º |
| Incl. 43.9 |
58.1 |
14.2 |
1.12 |
1.90 |
3.5 |
2.26 |
3.87 |
| 128.0 |
164.5 |
36.5 |
0.46 |
0.92 |
1.4 |
1.01 |
1.73 |
| 242.0 |
332.6 |
90.6 |
0.28 |
0.17 |
0.7 |
0.38 |
0.66 |
| K-07-33 |
28.4 |
152.5 |
124.1 |
0.22 |
0.62 |
0.6 |
0.59 |
1.01 |
Vertical |
| Incl. 108.6 |
131.6 |
23.0 |
0.66 |
1.59 |
1.9 |
1.60 |
2.75 |
| 195.6 |
398.8 |
203.2 |
0.33 |
0.38 |
1.0 |
0.56 |
0.96 |
| Incl. 195.6 |
340.8 |
145.2 |
0.38 |
0.48 |
1.1 |
0.67 |
1.15 |
| K-07-34 |
37.2 |
242.5 |
205.3 |
0.27 |
0.31 |
0.5 |
0.45 |
0.78 |
Vertical |
| Incl. 37.2 |
125.5 |
88.3 |
0.31 |
0.56 |
0.7 |
0.64 |
1.10 |
| Incl. 88.6 |
125.5 |
36.9 |
0.55 |
0.99 |
1.5 |
1.14 |
1.96 |
| 295.0 |
411.8 |
116.8 |
0.20 |
0.14 |
0.8 |
0.29 |
0.49 |
*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 four new holes reported above, K-07- 31 to 34 were drilled in the east-central part of the main zone. New results are also provided for the deeper portion of hole K-07-30 which was drilled in the south-eastern part of the prospect (See map attached).
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- Hole K-07-31: Drilled vertically on Section 300N (formerly 750N), 50 meters east of the collar of K-07-20 and intersected a near surface, high grade zone carrying 0.55% Cu, 0.44 g/t Au over 158.6 meters from the base of overburden, as well as a deeper zone of mineralization grading 0.30% Cu, 0.32 g/t Au over 144.7 meters.
- Holes K-07-32 and 33: Drilled on Section 350N (formerly 800N). K-07-32, an angled hole drilled westerly across the zone encountered three mineralized intervals including a high grade, near surface intercept grading 0.43% Cu, 0.70 g/t Au over 62.8 meters from the base of overburden. K-07-33 a vertical hole collared 50 meters to the west of K-32 encountered a gold dominant zone from the base of overburden, grading 0.22% Cu, 0.62 g/t Au over 124.1 meters, as well as a deeper zone grading 0.38% Cu, 0.48 g/t Au over 145.2 meters.
- Hole K-07-34: An angled hole drilled on Section 400N (formerly 850N), 150 meters east of prior hole K-07-25, intersected mineralization from the base of overburden grading 0.31% Cu, 0.56 g/t Au over 88.6 meters and a deeper zone grading 0.20% Cu, 0.14 g/t Au over 116.8 meters.
- Hole K-07-30: This hole was previously reported (see News Release dated September 6, 2007) with the currently reported final assay results coming from the deeper portion of the hole. A 151 meter mineralized interval was encountered deep in the hole with a better grade sub-interval assaying 0.30% Cu, 0.32 g/t Au over 31.9 meters.
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 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.
Click to enlarge
This map can also be viewed on the Company's website at www.serengetiresources.com
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