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Tuesday, July 10, 2007
Serengeti Reports 312 meters of 0.27% Copper and 0.39 g/t Gold from Spring Drilling
Major Follow-Up Drill Program Commences at Kwanika
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Vancouver, B.C., July 10, 2007 Serengeti Resources Inc. (TSX-V: SIR) is pleased to report assays from the final 11 holes of the recently completed 5,835 meter Spring 2007 drill program on its 100% owned Kwanika property, located in the prolific Quesnel Trough, between the operating Kemess Mine and the Mt. Milligan development project. Additionally, a major 45-hole (16,000 to 18,000 meter) follow-up drill program has commenced on the Kwanika property.
"We are very pleased with these results," stated Serengeti President and CEO David Moore. "We continue to intercept long intervals of good grade porphyry-style copper-gold mineralization and this system continues to remain open to the north, south and at depth." Moore elaborates "Drilling to date at Kwanika indicates a mineralized zone extending from near surface down to 500 meter depth in the deepest hole, with a width in the order of 200 meters along the central section and a 750 meter strike length. The upcoming drill program will systematically assess the grade distribution within this large, open-ended copper-gold system," Moore states.
Highlights of the recent drill results are as follows:
Drilling Highlights
HOLE |
THICKNESS
meters |
Copper
Cu % |
Gold
Au g/t |
K-07-18 |
158.3 |
0.53 |
0.43 |
K-07-19 |
173.2 |
0.30 |
0.39 |
K-07-20 |
107.7 |
0.76 |
0.91 |
K-07-23 |
114.4 |
0.38 |
0.09 |
K-07-24 |
312.1 |
0.27 |
0.39 |
K-07-25 |
397.5 |
0.20 |
0.27 |
K-07-26 |
390.8 |
0.27 |
0.30 |
Holes K-07-18 to 20 were drilled in the high grade area of the prospect centered on Section 750 N and were designed to test the geometry of the west and east limits of the zone (See map attached).
- Hole K-07-18: Drilled westerly through discovery hole K-06-9 [which intersected 111.1 meters of 0.69% copper (Cu), 0.54 g/t gold (Au)] and cut 158.3 meters of 0.53% Cu, 0.43 g/t Au as well as several subsidiary mineralized intervals on the western edge of the zone (See detailed table below).Hole K-07-19: Drilled southeast towards Section 750 N from the collar of prior hole K-07-13 [which intersected 189.4 m of 0.28% Cu, 0.20 g/t Au] and encountered an interval of 173.2 m grading 0.30% Cu., 0.39 g/t Au, with the mineralized zone remaining open at the bottom of the hole.
- Hole K-07-20: Drilled easterly from the collar of prior vertical hole, K-07-15 [which encountered 328.3 meters of 0.61% Cu., 0.72 g/t Au] and intersected 107.7 m grading 0.76% Cu, 0.91 g/t Au, including a high grade bornite-bearing interval at the top of the hole carrying 0.95% Cu, 1.26 g/t Au over 66.1 m. These holes along with previously released results indicate a 200 m width for the mineralized zone on Section 750 N.
- Hole K-07-23 was drilled on Section 500 N, 250 meters south of Section 750N along with Holes K-07-21 and K-07-22. It successfully located the extension of the mineralized system, encountering a 208.3 mineralized interval, including a 114.4 intercept grading 0.39% Cu, 0.09 g/t Au with increasing gold grades to the base of the hole, where the zone remains open to depth.
- Holes K-07-24 to 26 were drilled easterly across the zone on 50-meter intervals north of Section 750 N (see map). All three holes encountered broad intervals of copper-gold mineralization within a monzonite-andesite contact zone, with sections of higher grade mineralization including 98.8 meters grading 0.37% Cu, 0.67 g/t Au in Drill Hole K-07-24; 0.50% Cu, 2.46 g/t Au over 15.0 meters in K-07-25; and 0.30% Cu, 0.39 g/t Au over 158.7 meters in K-07-26.
Detailed Assay Results from the 11 drill holes reported are as follows:
Hole |
From
(m) |
To
(m) |
Thickness
(m) |
Cu
(%) |
Au
(g/t) |
Ag
(g/t) |
Orientation
(dip/azimuth) |
K-07-16 |
139.3 |
151.5 |
12.2 |
0.07 |
0.13 |
0.6 |
Vertical |
K-07-17 |
146.8 |
361.2 |
214.4 |
0.11 |
0.11 |
0.3 |
Vertical |
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Incl. 146.8 |
207.3 |
60.5 |
0.13 |
0.17 |
0.7 |
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K-07-18 |
34.8 |
193.1 |
158.3 |
0.53 |
0.43 |
1.3 |
-75o/270o |
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Incl. 100.5 |
112.5 |
12.0 |
1.71 |
0.54 |
5.0 |
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202.9 |
215.6 |
12.7 |
0.32 |
0.08 |
0.9 |
|
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267.7 |
291.6 |
23.9 |
0.17 |
0.13 |
0.6 |
|
K-07-19 |
100.3 |
* 273.4 |
173.2 |
0.30 |
0.39 |
1.1 |
-70o/135o |
K-07-20 |
38.1 |
145.8 |
107.7 |
0.76 |
0.91 |
1.9 |
-60o/090o |
|
Incl. 38.1 |
104.2 |
66.1 |
0.95 |
1.26 |
2.4 |
|
|
145.8 |
188.5 |
42.7 |
0.14 |
0.07 |
0.3 |
|
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212.2 |
220.9 |
8.8 |
0.27 |
0.10 |
0.5 |
|
K-07-21 |
272.5 |
273.4 |
0.9 |
1.44 |
0.52 |
3.7 |
-65o/090o |
K-07-22 |
No significant values |
-65o/270o |
K-07-23 |
232.7 |
* 441.1 |
208.3 |
0.29 |
0.09 |
0.6 |
-75o/090o |
|
Incl. 232.7 |
347.1 |
114.4 |
0.38 |
0.09 |
0.8 |
|
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And 425.6 |
* 441.1 |
15.5 |
0.19 |
0.14 |
0.2 |
|
K-07-24 |
55.9 |
368.1 |
312.1 |
0.27 |
0.39 |
0.7 |
-65o/090o |
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Incl. 196.0 |
294.8 |
98.8 |
0.37 |
0.67 |
1.2 |
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368.1 |
395.1 |
27.0 |
0.130 |
0.08 |
0.2 |
|
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417.5 |
425.4 |
7.9 |
0.08 |
0.23 |
Tr. |
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K-07-25 |
37.5 |
* 435.0 |
397.5 |
0.20 |
0.27 |
0.3 |
-065o/085o |
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Incl. 156.6 |
335.2 |
178.7 |
0.22 |
0.45 |
0.4 |
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Incl. 156.6 |
171.6 |
15.0 |
0.50 |
2.46 |
1.0 |
|
K-07-26 |
38.5 |
429.3 |
390.8 |
0.27 |
0.30 |
0.8 |
-65o/080o |
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Incl. 38.5 |
197.2 |
158.7 |
0.30 |
0.39 |
1.0 |
|
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Incl. 161.2 |
184.4 |
23.2 |
0.39 |
0.95 |
1.3 |
|
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443.9 |
491.0 |
47.1 |
0.17 |
0.10 |
0.2 |
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* End of Hole
Holes K-07-16 and 17 were drilled on Section 1250 N, 500 meters north of Section 750 N. K-07-16 was designed to test one of the strongest IP chargeability anomalies on the property and was lost above the target depth. The hole did intersect anomalous copper-gold values in potasically altered pyritic andesites potentially lying above the target monzonite contact. K-07-17 encountered a broad zone of lower grade mineralization carrying 0.11% Cu, 0.11 g/t Au over 214.4 meters interpreted to lie peripheral to the main target.
DRILLING RESUMES
An extensive 45-hole, 16,000 to 18,000 meter follow-up drill program has now commenced on the Kwanika Property. Drilling resumes with one Diamond drill rig with a second rig to be added to the program later this month. The program consists of a mix of infill, peripheral and target drilling in order to move towards the objective of resource estimation later this year.
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 and Markus Vanwermeskerken, P. Geo., who is a qualified person under the definition of National Instrument 43-101. 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.
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 discovery and development of copper-gold and molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough where it owns numerous claim blocks totaling in excess of 100,000 hectares. Additional information on the Kwanika project can be found on Serengeti-s website at www.serengetiresouces.com.
For further information, please contact:
David W. Moore, President and CEO, Serengeti Resources Inc., 604-605-1300
Email: dmoore@serengetiresources.com
Website: www.serengetiresoucres.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
This map can also be viewed on the Company's website at www.serengetiresources.com
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