 |
| |
Tuesday, May 15, 2007
Serengeti Drills 328 meters of 0.61% copper and 0.72 g/t gold at its Kwanika Property, BC
|
| |
Vancouver, B.C., May 15, 2007. Serengeti Resources Inc. (TSX-V: SIR) is pleased to report assay results from the first five holes of the ongoing 6,000 meter drill program on its 100% owned Kwanika property, located in the highly prospective Quesnel Trough, between the operating Kemess Mine and the Mt. Milligan development project in British Columbia. A number of intercepts are comparable to or exceed the length and grades reported for discovery hole K-06-9 in January 2007.
"We are very pleased with these results" states David Moore, Serengeti President and CEO. "These are significant, high-grade porphyry-style, copper-gold intercepts over long intervals. Given the grade, the nature of the mineralization and the potential size of the system, we are convinced we are at the early stages of an exciting and rapidly developing project".
Drill Holes K-07-11 to 15 Significant Analytical Results
| Hole |
From
(m) |
To
(m) |
Interval
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Orientation
(dip/azimuth) |
| K-07-11 |
170 |
*450.2 |
280.2 |
0.11 |
0.06 |
0.2 |
-80° to 090° |
| |
Incl. 170.0 |
214.8 |
44.8 |
0.23 |
0.1 |
0.6 |
|
| K-07-12 |
34.5 |
301.1 |
266.6 |
0.3 |
0.67 |
0.8 |
Vertical |
| |
Incl. 34.5 |
165.4 |
130.9 |
0.48 |
0.91 |
2 |
|
| |
Incl. 34.5 |
68.4 |
33.9 |
0.3 |
1.59 |
1.1 |
|
| K-07-13 |
107.3 |
*296.7 |
189.4 |
0.28 |
0.2 |
1.3 |
Vertical |
| |
Incl. 146.0 |
154.4 |
8.4 |
1.2 |
1.05 |
7 |
|
| K-07-14 |
82 |
*544.7 |
462.7 |
0.61 |
0.38 |
1.9 |
-70° to 090° |
| |
Incl. 83.8 |
125.5 |
41.7 |
0.91 |
0.77 |
4.1 |
|
| |
And 369.7 |
484.3 |
114.6 |
1.04 |
0.63 |
2.9 |
|
| K-07-15 |
27.4 |
*355.7 |
328.3 |
0.61 |
0.72 |
1.8 |
Vertical |
| |
Incl. 27.4 |
88 |
60.6 |
1.26 |
1.78 |
4 |
|
| |
Incl. 27.4 |
51.3 |
23.9 |
1.74 |
2.5 |
5.6 |
|
*End of Hole
Holes K-07-11 to 14 were drilled as 50 meter step-outs to the west, east, north and south and K-07-15 as a 100 meter step-out to the east from discovery hole K-06-9 which intersected 111.1 meters of 0.69% copper and 0.54 g/t gold (See attached map). Both step-out holes to the east returned long intercepts; K-07-12 cutting 266.6 meters (m) of 0.30% copper(Cu), 0.67 g/t gold(Au) and 0.8 g/t silver(Ag). K-07-15 intersected 0.61% Cu, 0.72 g/t Au and 2.9 g/t Ag over 328.3 m from the base of overburden to the bottom of the hole. Especially high-grade, bornite-bearing copper-gold mineralization was encountered at the top of K-07-15, with the first 23.9 m grading 1.74% Cu, 2.5 g/t Au and 5.6 g/t Ag.
K-07-14 drilled south of K-06-9, intersected 0.61% Cu, 0.38 g/t Au and 1.9 g/t Ag over 462.7 m to the bottom of the hole. This intercept includes a supergene-enriched native copper and chalcocite bearing zone grading 0.91% Cu, 0.77 g/t Au and 4.1 g/t Ag over 41.7 m below a major fault. A broad copper sulphide zone, consisting of disseminated and vein chalcopyrite was also cut in K-07-14 including an interval of 114.6 m grading 1.04% Cu, 0.63 g/t Au and 2.9 g/t Ag.
K-07-13 drilled to the north of K-06-9, intersected a long interval of lower grade mineralization at the monzoniteandesite contact, grading 0.28% Cu, 0.20 g/t Au and 1.3 g/t Ag over 189.4 m including a chalcopyrite-bearing tourmaline breccia carrying 1.2 % Cu, 1.05 g/t Au and 7.0 g/t Ag over 8.4 m. K-07-11 was collared to the west of, and drilled sub-parallel to, the major fault which appears to control the western edge of the copper-gold system, encountered lower grade mineralization below the fault.
Four of these five holes ended in mineralization and the fifth terminated in a post-mineral dyke indicating that the system remains open to depth. These results, as well as indications from other holes in the current program and from Serengeti's prior drilling, show the mineralized zone also remains open to expansion to the north, south and east.
The attached map shows that the drill holes reported on in this release lie in the west-central part of a large induced polarization (IP) anomaly. The copper-gold mineralization at Kwanika is associated with this large anomaly, which is believed to be caused by a broad zone of iron and copper sulphides. Drilling in the current program has only partially tested a portion of this anomaly lying between 1250N and 500N, a distance of 750 meters. To date approximately 5,000 meters of drilling has been completed in 14 holes in the current program and results from the balance of the holes will be released as available.
Sample analysis 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. Samples were initially analyzed by solvent extraction/AAS for gold and by ICP for copper and silver. Over-limits (2000 ppm for copper and 100 ppb for gold where then analyzed by assay and fire assay/AA finish respectively. In addition, screen metallic copper assays are in progress on the native copper bearing interval in K-07-14 (83.8m-115.5m) in order to determine if particulate native copper was not homogenized in the sample preparation process; this procedure may result in increasing the overall copper content of these individual samples.
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 including a complete listing of analyses from the current release can be found on Serengeti's website at www.serengetiresources.com
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
|
| |
| |
|
| | |
| | |