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Monday, January 07, 2008
Serengeti Reports Additional Results from Kwanika Including 297 meters Grading 0.46 % Copper, 0.59 g/t Gold
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Vancouver, B.C., January 7, 2008: Serengeti Resources Inc. (TSX-V: SIR) is pleased to report additional assays from its latest drill program completed in December 2007 at its 100% owned Kwanika porphyry copper-gold property, British Columbia.
"We continue to intersect excellent grades in the high grade core of the system at Kwanika, including 297 meters grading 0.46% copper and 0.59 g/t gold in hole K-07-46" stated Serengeti President and CEO David Moore. "Furthermore, drill hole K-07-44 indicates that the mineralized system remains open for expansion some 600 meters to the north of the high grade core. Drilling will resume by mid-January to continue testing for extensions of the main copper-gold zone as well as other targets in the immediate vicinity", elaborated Moore.
Drill Holes K-07-39 to K-07-44, K-07-46, Significant Results
Hole |
From (m) |
To (m) |
Interval (m) |
Copper % |
Gold g/t |
Silver g/t |
Copper
EQ. %** |
Gold
EQ. g/t** |
Orientation (dip/azimuth) |
K-46 |
283.8 |
580.7 |
296.9 |
0.46 |
0.59 |
1.3 |
0.81 |
1.40 |
-55°/270° |
Incl. 329.1 |
412.1 |
83.0 |
0.49 |
0.91 |
1.7 |
1.03 |
1.77 |
And 507.0 |
529.0 |
22.0 |
0.65 |
1.39 |
1.9 |
1.48 |
2.53 |
K-39 |
38.8 |
447.2 |
408.4 |
0.12 |
0.17 |
0.2 |
0.22 |
0.38 |
Vertical |
Incl. 266.0 |
332.2 |
66.2 |
0.22 |
0.37 |
0.3 |
0.44 |
0.75 |
K-40 |
298.0 |
729.1 |
431.1 |
0.18 |
0.13 |
0.5 |
0.26 |
0.45 |
-75º/090º |
Incl. 355.1 |
444.9 |
89.8 |
0.37 |
0.20 |
1.2 |
0.50 |
0.85 |
K-41 |
72.8 |
455.2 |
382.4 |
0.18 |
0.20 |
0.3 |
0.30 |
0.51 |
-80º/090º |
Incl. 218.5 |
322.1 |
103.6 |
0.26 |
0.26 |
0.5 |
0.42 |
0.71 |
K-42 |
No significant results |
-70°/270° |
K-43* |
184.3 |
654.4 |
470.2 |
0.40 |
0.13 |
1.0 |
0.48 |
0.83 |
-70º/090º |
Incl. 184.3 |
271.3 |
87.6 |
0.87 |
0.24 |
2.6 |
1.03 |
1.77 |
And 271.9 |
654.4 |
382.6 |
0.28 |
0.10 |
0.6 |
0.34 |
0.59 |
K-44 |
71.0 |
238.4 |
167.4 |
0.19 |
0.29 |
0.3 |
0.36 |
0.62 |
-55º/270º |
376.6 |
432.8 |
56.2 |
0.14 |
0.11 |
0.2 |
0.21 |
0.35 |
* Partial results previously reported. **Copper and Gold Equivalent (EQ.) 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).
As indicated on the attached map, three of the seven holes reported, K-07-40, 43 and 46 were drilled in the southern part of the mineralized zone; K-07-39 and 41 were drilled in the north-central part of the zone; and holes K-07-42 and 44 were drilled on a fence 250 meters to the north of the main mineralized zone. The balance of the holes including K-07-45 and K-07-47 to 57 have been submitted for analysis and results will be reported when available.
- Hole K-07-46: An angled hole drilled to the west on Section 200N, intersected a strongly mineralized zone grading 0.46% Cu, 0.59 g/t Au, including two intervals of intensely quartz-chalcopyrite-stockworked monzonite grading 0.49% Cu, 0.91 g/t Au over 83 meters and 0.69% Cu, 1.39 g/t Au over 22 meters. Hole K-07-43 drilled easterly on Section 150N, intersected a native copper and chalcocite-bearing supergene zone grading 0.87% Cu, 0.24 g/t Au over 87.6 meters followed by a primary chalcopyrite-bearing zone grading 0.28% Cu, 0.10 g/t Au over 382.6 meters. Partial results for this hole were previously released in News Release dated November 5, 2007. Hole K-07-40 drilled easterly on Section 250N intersected a broad, moderately mineralized chalcopyrite-bearing interval grading 0.18% Cu, 0.13 g/t Au over 431.1 meters.
- Holes K-07-39 and 41: Drilled on the northern fringe of the main zone, both encountering broad zones of modest grade mineralization, with the best values cut in K-07-41, which graded 0.18% Cu, 0.20 g/t Au over 382.4 meters.
- Holes K-07-42, 44: Angle holes drilled to the west on Section 800N. K-07-42 encountered strongly pyritic, propylitically-altered andesites cut by monzonite dykes indicating the hole lies peripheral to a mineralized center. K-07-44 intersected 0.19% Cu, 0.29 g/t Au over 167.4 meters from the base of overburden. This hole "scissored" earlier mineralized hole K-06-10 and indicates that the system is relatively gold rich on this section and remains open for expansion to the east and north.
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
Lisa May, BMK Communications: 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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