VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 3, 2013) - Serengeti Resources Inc. (News - Market indicators)(FRANKFURT:34S) reports that it has completed the initial phase of its summer exploration program on nine of its properties located in the Quesnel Trough and Stikine Arch of British Columbia. Field work in the June / August period included geochemical sampling, prospecting and geological mapping following up on known targets and generated new targets on existing properties and on ground acquired earlier in the year. Results have been received and compiled for several of these and an immediate follow-up work program is planned on two of the properties in September.
The RCN (Red Chris North) property comprises two blocks totaling 5,675 Hectares (Ha), located 10 km north of a recent copper-gold discovery by Colorado Resources in NW BC. Results from the recent work on RCN include a newly identified copper-gold mineralized outcrop (three grab samples average 3,870 ppm Cu, 250 ppb Au), a nearby larger outcrop of intense quartz-sericite-pyrite (QSP) alteration along with the highest copper and two highest gold silt geochemical anomalies from the survey. The prospective area is largely overburden and tree covered and several small aeromagnetic anomalies are also present, further enhancing the target area. Follow-up soil sampling and additional prospecting are planned in September.
On the Osalinka property, located 75km NW of Kwanika, wide-spaced reconnaissance soil sampling identified a copper soil and silt geochemical anomaly associated with a favourable magnetic trend along three kilometers of strike length. One sample returned very high contrast copper, gold and palladium values, from an area of extensive overburden and tree cover. Follow-up sampling and prospecting of this target and one other target area on the property are planned for September.
In addition, two new properties, one in the Mt. Milligan area and the other adjacent to the Kemess North gold-copper deposit, have recently been acquired 100% by staking.
One of these, the SYL property, a 1,770 Ha claim located 25 km NW of Mt Milligan copper-gold mine, encompassing an overburden covered, prospective magnetic domain in a favourable structural setting. Two reconnaissance Ah and selective extraction soil transects have been completed and results are awaited.
The most recent property acquisition is the UDS property, a 1,425 Ha claim located 4 km east of and adjoining Aurico Gold's Kemess North underground copper-gold project. The UDS property covers a structurally complex area of rocks similar to those that host and immediately overlie the nearby Kemess North deposit. An untested, open ended IP geophysical anomaly adjoins the block and minor gold-copper showings occur within the UDS claim. A compilation of prior work will be undertaken to determine the best exploration approach going forward.
About 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 currently advancing its Kwanika copper-gold project and exploring its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia. A number of these projects are available for option or joint venture and additional information can be found on the Company's website at www.serengetiresources.com. Serengeti has 51.1 million shares issued and outstanding or 57.9 million shares on a fully diluted basis.
Quality Assurance/Quality Control
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. Sample analysis for the results reported here was completed by Acme Analytical Laboratories in Vancouver, BC who employ a strict quality assurance program.
ON BEHALF OF THE BOARD
David W. Moore, P. Geo., President, CEO and Director
Cautionary Statement
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration 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. A comprehensive list of risk factors is provided in the Company's Annual Information Form ("AIF") for the year ended February 28, 2013 and filed on SEDAR on July 11, 2013. Readers are further advised not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
