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Serengeti Resources Inc.: Groundbreaking Geochemical Study Identifies New Target Adjacent to Kwanika Copper-Gold Deposit
http://finance.yahoo.com/news/Serengeti-Resources-Inc-iw-3301891377.html?x=0&.v=1
Serengeti Resources Inc.
Serengeti Completes Geochemical Sampling Program on QUEST Joint Venture Properties
Wed Jul 7, 11:08 AM
http://ca.news.finance.yahoo.com/s/07072010/28/link-f-ccnmatthews-serengeti-completes-geochemical-sampling-program-quest-joint-venture.html
Serengeti Intersects 0.66% Copper Equivalent over 124 meters, Significantly Expands Potential at South Zone at Kwanika
Tue Nov 17, 8:31 AM
http://ca.news.finance.yahoo.com/s/17112009/28/link-f-ccnmatthews-serengeti-intersects-0-66-copper-equivalent-124-meters.html
Serengeti Resources (TSX:SIR)
Last Price (CAD)
$ 0.285
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▼ -0.015 (-5.00%)
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Volume 73,200
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Click for Detailed Quote Page
Serengeti Expands Potential of South Zone at Kwanika
Monday September 21, 8:29 am ET
http://ca.us.biz.yahoo.com/iw/090921/0539084.html?.v=1
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 09/21/09) - Serengeti Resources Inc. (TSX-V:SIR - News) reports the additional results from this summer's exploration program at the Company's Kwanika property in British Columbia.
Two new mineralized intercepts from drilling on the South Zone indicate that the South Zone extends to considerably greater depth than has been previously noted. The drilling has also shown that the South Zone, which abuts against a fault on the west side, the "West Fault", is open to the south and east as well as to depth. More drilling is underway to expand the South Zone.
The results include a deep intercept grading 0.43% copper, 0.02 g/t gold, 2.0 g/t silver and 0.049% molybdenum (0.80% copper equivalent) over 65.5 meters in hole K-136 and in hole K-124, 0.36% copper, 0.01 g/t gold, 1.4 g/t silver and 0.007% molybdenum (0.43% copper equivalent) over 58 meters. The intercept from hole K-124 is additional to the previously reported 242.5 metres of mineralization.
----------------------------------------------------------------------------
Drill Holes K-09-124, K-09-129 to K-09-137 Significant Analytical Results
----------------------------------------------------------------------------
Cop- Gold
per Equ- Orien-
Inter- Cop- Sil- Equiv. iv. tation
From To val per Gold ver Mo % g/t (dip/
Hole (m) (m) (m) % g/t g/t % (i) (i) Zone azimuth)
----------------------------------------------------------------------------
K-124 259.5 622.0 362.5 0.35 0.04 1.7 0.014 0.49 0.84 South Vertical
-----------------------------------------------------
Incl.
259.5 502.0 242.5 0.41 0.05 2.1 0.018 0.58 1.00
(ii)
-----------------------------------------------------
And
564.0 622.0 58.0 0.36 0.01 1.4 0.007 0.43 0.73
----------------------------------------------------------------------------
K-136 412.0 440.0 28.0 0.09 0.00 0.6 0.008 0.15 0.26 South -65
----------------------------------------------------- degrees/
502.0 677.5 175.5 0.26 0.01 1.1 0.024 0.44 0.76 90
----------------------------------------------------- degrees
Incl.
524.0 589.5 65.5 0.43 0.02 2.0 0.049 0.80 1.37
-----------------------------------------------------
And
Incl.
660.0 677.5 17.5 0.33 0.01 0.8 0.003 0.36 0.63
----------------------------------------------------------------------------
K-130 80.0 82.0 2.0 0.17 0.22 1.6 0.017 0.43 0.74 East -60
degrees/
270
degrees
----------------------------------------------------------------------------
K-132 91.8 97.9 6.1 0.47 0.14 0.9 0.003 0.58 1.00 North -65
degrees/
90
degrees
----------------------------------------------------------------------------
K-133 Incl.
140.3 249.1 108.8 0.04 0.01 0.1 0.000 0.05 0.08 North Vertical
----------------------------------------------------------------------------
K-129, 131, 134, 135, 137 indicated NSV
----------------------------------------------------------------------------
(i) Copper and Gold Equivalent calculations use metal prices of US$1.75/lb
for copper, US$12/lb for molybdenum, US$700/oz for gold and US$12.50/oz
for silver and both assume metallurgical recoveries and net smelter
returns of 100%. Copper (Cu) EQ equals Cu% + (Mo% x 12/1.75) + (Au g/t
x 12.86/22.06) + (Ag g/t x 0.23/22.06). Gold (Au) EQ equals Au g/t +
(Cu % x 38.60/22.5) + (Mo% x 264.72/22.5) + (Ag g/t x 12.50/700).
(ii) Previously Reported.
Drill sections and a 3D model can be viewed at http://www.corebox.net/properties/kwanika/ or by following a link on the Company's website at www.serengetiresources.com.
"The drilling reported on here adds size and depth to the South Zone and clearly indicates major expansion potential to the south and east," stated President and CEO David Moore. "Hole K-136 in particular has returned excellent grades adjacent to the West Fault on the South Zone. Recent geological and geophysical modeling has traced this newly identified fault six kilometers to the south, opening up a large area for future exploration. We are very encouraged by the newly demonstrated potential at depth in the South Zone as indicated by holes K-124 and K-136. We are currently drilling several additional holes testing this potential," added Moore.
South Zone Drilling (K-124, and K-135 to 137): Shallow drilling prior to Serengeti's exploration suggested a limited resource that required more testing. Serengeti's recent work has indicated the potential for expansion is wide open. Vertical drill hole K-124, the upper portion of which was previously reported (see NR 2009-08 dated August 26, 2009) was deepened and as noted above an additional mineralized interval grading 0.36% copper, 0.01 g/t gold, 1.4 g/t silver, 0.007% molybdenum (0.43% copper equivalent) over 58.0 meters was intersected. The overall mineralized intercept in K-124 now grades 0.35% copper, 0.04 g/t gold, 1.7 g/t silver, 0.014% molybdenum (0.49% copper equivalent) over 362.5 meters. K-136, an angle hole drilled from the west, drilled though the West Fault and then encountered a 175.5 meter mineralized interval to the bottom of the hole at 677.5 meters, including an interval assaying 0.43% copper, 0.02 g/t gold, 2.0 g/t silver, 0.049% molybdenum (0.80% copper equivalent) over 65.5 meters. Due to orientation and deviation of the drill hole, the intercept in K-136 lies on the same section as K-124.
K-135 which was unmineralized was a west-directed angle hole drilled from the collar of K-124 and helped define the West Fault. K-137 was drilled off the north end of the South Zone and was not mineralized.
North Area Drilling (K-131 to 134): Hole K-131, 132, 133 were drilled in the vicinity of previously reported hole K-08-122 which intersected 0.42% copper, 0.06 g/t gold, over 76.2 meters, approximately one kilometer north of the Central Zone resource. These three recent holes demonstrate that the K-122 area is structurally complex, with the best interval, 0.47% copper, 0.14 g/t gold occurring over 6.1 meters in hole K-132 and a broad zone of anomalous copper intersected in K-133. Hole K-134 which was drilled off the north east end of the Central Zone was unmineralized.
East Area Drilling (K-129 and K-130): Two holes were drilled in the north-east quadrant of the property, with K-130 encountering a narrow mineralized interval grading 0.17% copper, 0.22 g/t gold over 2 meters immediately below unexpectedly deep overburden. K-129, drilled 1.4 kilometers to the south did not intersect significant mineralization.
Drill Program Summary Drilling has now been completed on Serengeti's Osilinka property and results will be released when available. Drilling has now resumed at the South Zone at Kwanika, after which the drill will be moved to test attractive targets on the Choo and Mil properties.
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 which contains an Indicated Mineral resource at a 0.25% copper equivalent cut-off of 183 million tonnes grading 0.29% copper, 0.28 g/t gold including a higher grade zone at a 0.4% copper equivalent cut-off of 75 million tonnes grading 0.41% copper and 0.42 g/t gold. Serengeti also continues to explore for additional gold and copper 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. Serengeti is well funded to advance its projects with a current working capital position of approximately $9.3 million which includes $2.3 million receivable from the B.C. government's METC program. The Company has currently completed approximately 75% of an expanded 9,500 meter summer drilling program.
Quality Assurance/Quality Control
Sample analysis for the current program was completed at Acme Labs 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 2,000 ppm, molybdenum values exceeding 1,000 ppm and gold values exceeding 100 ppb 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 Serengeti Resources Inc. staff. 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.
To view the map accompanying this release, please click on the following link: http://media3.marketwire.com/docs/SIR0921M.pdf.
Contact:
Contacts:
Serengeti Resources Inc.
David W. Moore
President and CEO
604-605-1300
604-899-1240 (FAX)
dmoore@serengetiresources.com
Serengeti Resources Inc.
Investor Relations
604-685-8184
info@serengetiresources.com
www.serengetiresources.com
Source: Serengeti Resources Inc.
Serengeti Intersects 0.78% Copper Equivalent Over 150 Meters in South Zone at Kwanika
Wed Aug 26, 8:30 AM
http://ca.news.finance.yahoo.com/s/26082009/28/link-f-ccnmatthews-serengeti-intersects-0-78-copper-equivalent-150-meters.html
Serengeti Intersects 0.78% Copper Equivalent Over 150 Meters in South Zone at Kwanika
Wed Aug 26, 8:30 AM
http://ca.news.finance.yahoo.com/s/26082009/28/link-f-ccnmatthews-serengeti-intersects-0-78-copper-equivalent-150-meters.html
SERENGETI RESOURCES INC. (Tier2
(CDNX: SIR.V)
Last Trade: 0.2850
Trade Time: 9:43am ET
Change: Up 0.0150 (5.56%)
Prev Close: 0.27
Open: 0.285
Bid: 0.27
Ask: 0.28
1y Target Est: N/A
Day's Range: 0.2850 - 0.2850
52wk Range: 0.10 - 0.50
Volume: 12,000
Serengeti Announces Larger Summer Drilling Program on Kwanika and High Priority Regional Targets
* On Monday June 8, 2009, 9:30 am EDT
http://finance.yahoo.com/news/Serengeti-Announces-Larger-ccn-15463995.html?.v=1
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2009) - Serengeti Resources Inc. (TSX VENTURE:SIR - News) has increased its exploration budget for this summer's drilling program, now scheduled to start at the Company's 100% owned Kwanika copper-gold property on or about June 20th. The budget for the summer program has been increased by 20% to $3.1 million, and this, together with lower prices for 2009 project work, will enable Serengeti to drill approximately 6,750 meters in 27 holes, testing nine exploration targets across four properties. In addition, joint venture partner Newcrest Mining BC Limited has received approved work permits for a separate 2,400 meter drill program on Serengeti's Croy Bloom property.
The following table summarizes the number of holes, meters and targets on each property.
-------------------------------------------------------
2009 Discovery Opportunities
-------------------------------------------------------
Property Holes Meters Targets Commodity
-------------------------------------------------------
Kwanika
Central 12 3,400 4 Cu Au Mo
-------------------------------------------------------
Kwanika South 5 1,000 2 Cu Au Mo
-------------------------------------------------------
Osilinka 5 1,000 1 Cu Au Ag
-------------------------------------------------------
Mil 3 750 1 Cu Au
-------------------------------------------------------
Choo 2 600 1 Cu Au
-------------------------------------------------------
Croy Bloom
(Newcrest) 4 2,400 3 Cu Au
-------------------------------------------------------
Total 31 9,150 12 Cu Au Mo Ag
-------------------------------------------------------
The drilling program will start on the Kwanika property where approximately half of the program will test:
- High priority targets around the Central Zone where an Indicated Resource of 75 million tonnes grading 0.41% copper and 0.42 g/t gold was announced on February 25, 2009, (see NR 2009-04).
- Step-outs to the South Zone where 2008 drilling in 14 holes returned an average of 0.36% copper, 0.13 g/t gold and 0.01% molybdenum over an average 82 meter composite intercept. The objectives of the drill program are to significantly expand the known mineralized zones and search for new centers of good grade copper-gold-molybdenum mineralization.
For more information on the prior drill results at Kwanika, visit http://www.corebox.net.
The balance of the drill program funded by Serengeti is as follows:
- 1,000 meters on two other targets in the very large Kwanika block, including three holes on a strong copper-molybdenum geochemical response coincident with an induced polarization (IP) geophysical anomaly 10 km south of the Central zone, and two holes on a copper-gold target at the southern end of the claim block.
- 1,000 meters in five holes to test a highly attractive copper-gold-silver geochemical and coincident IP anomaly on the Osilinka block located 35 km north of Kwanika.
- 750 meters in three holes testing a target with attractive IP geophysical and gold geochemical results on the Mil property located 15 km west of the Mt. Milligan copper-gold deposit. The Mil property is currently held in a 50-50% joint venture with Fjordland Exploration Inc. Serengeti will fund the 2009 drilling and earn additional ownership in the Quest JV including Mil.
- 600 meters in two holes testing a very large IP anomaly on the Choo property. Drilling in the vicinity in the 1990's by a previous owner showed anomalous copper-gold mineralization. Exploration data recently purchased by Serengeti from Amarc Resources Ltd also indicates two additional IP geophysical targets (coincident in one case with a copper geochemical anomaly) on the Choo property and follow up is planned on these new targets this season.
In addition to the program funded by Serengeti, Newcrest Mining BC Limited has received approved work permits for a four hole deep drilling program on Serengeti's Croy Bloom-Davie Creek property located 85 kilometers south of the Kemess mine.
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 gold and copper 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. Serengeti is well funded to advance its projects with a current working capital position of approximately $8.6 million and a 2009 budget of $3.1 million which includes more than 6,750 meters of planned drilling scheduled to start in June. Furthermore, the Company expects to receive a refund of approximately $2.5 million from the B.C. government's METC program, which amount is not currently included in the working capital position indicated above.
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. Readers are 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.
Contact:
David W. Moore
Serengeti Resources Inc.
President and CEO
604-605-1300
604-899-1240 (FAX)
dmoore@serengetiresources.com
Investor Relations
Serengeti Resources Inc.
604-685-8184
info@serengetiresources.com
http://www.serengetiresources.com
Serengeti Purchases Exploration Data
* On Monday May 11, 2009, 1:00 pm EDT
http://finance.yahoo.com/news/Serengeti-Purchases-ccn-15202209.html?.v=1
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2009) - Serengeti Resources Inc. (TSX VENTURE:SIR - News) wishes to announce that it has entered into an agreement with Amarc Resources Ltd. ("Amarc") to purchase certain proprietary historical exploration data, including geophysical survey and drilling results from work conducted by Amarc on portions of the Choo property which is now held by Serengeti and the Mil property which is held by Serengeti and Fjordland Exploration Inc.
In consideration for the purchase of the data, Serengeti has agreed to issue Amarc 100,000 common shares of Serengeti, subject to acceptance by the TSX Venture Exchange. The shares will be subject to the statutory four month hold period.
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 gold and copper 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. Serengeti is well funded to advance its projects with a working capital position of approximately $8.8 million and a 2009 budget of $2.7 million which includes more than 6,000 meters of planned drilling scheduled to start in June. Furthermore, the Company expects to receive a refund of approximately $2.5 million from the B.C. government's METC program in 2010, which amount is not currently included in the working capital position indicated above.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contact:
David W. Moore
Serengeti Resources Inc.
President and CEO
604-605-1300
604-899-1240 (FAX)
dmoore@serengetiresources.com
Investor Relations
Serengeti Resources Inc.
604-685-8184
info@serengetiresources.com
www.serengetiresources.com
Serengeti Resources Inc. (Tier2) (TSX:SIR)
Last Price (CAD)
$ 0.2
Change
◊ 0
Bid 0.205
Ask 0.21
Volume 96,000
Day's Range 0.20 - 0.23
Click for Detailed Quote Page
Last Trade:15:27:48 EDT Apr-30-09
Serengeti Resource Estimate Confirms 1.6 Million Ounce Gold and 1.1 Billion Pound Copper Indicated Resource at Kwanika
Wed Feb 25, 8:01 AM
http://ca.news.finance.yahoo.com/s/25022009/28/link-f-ccnmatthews-serengeti-resource-estimate-confirms-1-6-million-ounce.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 25, 2009) - Serengeti Resources Inc. (TSX VENTURE: SIR.V) is pleased to announce the initial mineral resource estimate for the Central Zone at the Company's 100% owned Kwanika copper-gold property in British Columbia.
The estimate for the Central Zone is based on 78 holes totaling 40,784 meters drilled between 2006 and 2008 which establish the volume, grade, and continuity of the mineralization. The mineral resources are reported within a defined volume and at various cut-off grades as presented below in the table of Kwanika Central Zone Mineral Resources.
At a 0.25% copper equivalent (Cu Eq)(1) cut-off the Kwanika Central Zone Mineral Resources are:
- 182.6 million tonnes of Indicated Mineral Resources grading 0.47% Cu Eq or 0.71 g/t Au Eq, containing 1.62 million ounces of gold and 1.15 billion pounds of copper; AND
- 28.5 million tonnes of Inferred Mineral Resources grading 0.32% Cu Eq or 0.49 g/t Au Eq containing an additional 0.2 million ounces of gold and 120 million pounds of copper.
A higher grade core within the zone, at a 0.4% Cu Eq cut-off, yields:
- 75.1 million tonnes of Indicated Mineral Resources grading 0.69% Cu Eq or 1.05 g/t Au Eq, containing 1.02 million ounces of gold and 680 million pounds of copper.
The estimate was prepared by independent geological and mining consultants, Scott Wilson Roscoe Postle Associate Inc., under the direction of David W. Rennie, P.Eng. an independent Qualified Person, as defined by the National Instrument 43-101. Mr. Rennie has reviewed and approved the contents of this release. A technical report providing details of the estimate will be filed on Sedar ( www.sedar.com) within 45 days.
"We are extremely pleased to have achieved this important milestone at Kwanika," stated Serengeti Resources President and CEO, David W. Moore. "This NI 43-101 compliant Indicated Resource containing 4.2 million ounces gold-equivalent is a very significant building block for the Company. In light of current market conditions, our efforts this year at Kwanika will focus on selectively testing targets in the vicinity of the resource area, including targets mentioned elsewhere in this release, to seek and expand additional high grade mineralized centers," elaborated Moore
Kwanika Central Zone
Indicated Mineral Resources
-----------------------------------------------------------------
CuEq Tonnage Au Au Cu Cu Cu Au Eq
% Cut-off Mt g/t M oz % M lb Eq % g/t
-----------------------------------------------------------------
1.00 10.20 0.90 0.295 0.77 173.0 1.36 2.07
-----------------------------------------------------------------
0.75 21.93 0.70 0.494 0.63 304.9 1.09 1.66
-----------------------------------------------------------------
0.50 48.58 0.51 0.801 0.49 521.3 0.82 1.26
-----------------------------------------------------------------
0.45 59.31 0.47 0.894 0.45 591.6 0.76 1.16
-----------------------------------------------------------------
0.40 75.07 0.42 1.015 0.41 684.0 0.69 1.05
-----------------------------------------------------------------
0.35 98.42 0.37 1.170 0.37 806.4 0.61 0.94
-----------------------------------------------------------------
0.30 133.26 0.32 1.370 0.33 964.8 0.54 0.82
-----------------------------------------------------------------
0.25 182.63 0.28 1.616 0.29 1,152.6 0.47 0.71
-----------------------------------------------------------------
Inferred Mineral Resources
-----------------------------------------------------------------
CuEq Tonnage Au Au Cu Cu Cu Au Eq
% Cut-off Mt g/t M oz % M lb Eq % g/t
-----------------------------------------------------------------
1.00 0.01 0.83 0.000 0.61 0.1 1.16 1.77
-----------------------------------------------------------------
0.75 0.22 0.52 0.004 0.51 2.4 0.86 1.31
-----------------------------------------------------------------
0.50 1.15 0.40 0.015 0.39 9.7 0.65 0.99
-----------------------------------------------------------------
0.45 1.59 0.37 0.019 0.36 12.5 0.60 0.91
-----------------------------------------------------------------
0.40 2.99 0.31 0.030 0.31 20.6 0.52 0.79
-----------------------------------------------------------------
0.35 6.20 0.27 0.053 0.27 36.4 0.44 0.67
-----------------------------------------------------------------
0.30 14.47 0.23 0.106 0.22 71.4 0.37 0.57
-----------------------------------------------------------------
0.25 28.54 0.20 0.181 0.20 122.5 0.32 0.49
-----------------------------------------------------------------
Note 1: Copper and gold equivalent calculations use metal prices of US$2.00/lb for copper and US$900/oz for gold and do not include factors for metallurgical recoveries. Preliminary metallurgical testing on one composite sample from Kwanika has indicated 88.5% recovery for copper and 65.2% recovery for gold in a locked cycle test. Characterization work is underway on gold distribution and additional test work could result in improved gold recovery.
Cu Eq equals Cu % + (Au g/t x (900 / 31.1 / 2.00) / 22.06)
Au Eq equals Au g/t + (Cu % x (22.06 x 2.00) / (900 / 31.1))
Note 2: CIM definitions were followed for mineral resource estimation and classification. By prescribed definition Mineral Resources do not have demonstrated economic viability and Indicated Resources have a higher degree of confidence than do Inferred Resources. The mineral resources fall within a volume or shell defined by long term metal price estimates of US $2.00/lb for copper and $900/oz for gold. A 0.25% Cu Eq cut-off is considered to be reasonable for a porphyry deposit open pit in this location.
Drilling elsewhere on the property has indicated three additional mineralized areas for which drilling density is not currently sufficient to estimate a resource (see table below). The South Zone, has approximate dimensions of 1000 meters by 300 meters; the South historical Zone, 600 meters by 300 meters; the North target is presently defined by one hole (see maps on www.serengetiresources.com). Importantly, all three areas remain open for expansion and additional targets also include a geochemically anomalous trend lying to the east of the Central Zone as well as a very attractive new target located 10 km to the south described in news release #2009-02 dated January 26, 2009. Drilling in any one of these areas could result in the discovery of additional high grade, near surface copper-gold mineralization.
Other Mineralized Zones
------------------------------------------------------------------------
Average Composite Intercept
Cu Eq -----------------------------------
Zone # of Holes %Cut-off (Length m) Cu% Au g/t Mo% Cu Eq%
------------------------------------------------------------------------
South 14 0.25 82 0.36 0.13 0.013 0.53
------------------------------------------------------------------------
South Historical 11 0.25 40 0.31 - 0.008 0.37
------------------------------------------------------------------------
North target 1 - 76 0.42 0.06 trace 0.46
------------------------------------------------------------------------
Note 3: Copper equivalent calculation uses metal prices of US$2.00 per pound for copper, US$900/oz for gold and US$15/lb for molybdenum with no provision for metallurgical recoveries.
Cu Eq equals Cu % + ((Mo % x 15/2.00) + (Au g/t x 900 / 31.1 / 2.00 / 22.06))
Note 4: Gold data are not available for the South Zone historical drilling.
The Kwanika discovery has demonstrated that important tonnages of higher grade, supergene-enriched porphyry copper-gold mineralization can occur in the Quesnel Trough of B.C., where very favorable geology for hosting these deposits is blanketed by widespread overburden. Modern geophysical techniques are now able to penetrate this overburden cover and open up this very large under-explored area for exploration. Within this region, Serengeti has extensive holdings with many high quality exploration targets which remain to be tested.
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 gold and copper 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. Serengeti is well funded to advance its projects with a working capital position of approximately $9.0 million.
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 Kwanika drilling was completed at Global Discovery Lab in Vancouver, BC. A comprehensive quality assurance/quality control program formed part of the sampling protocol in addition to the laboratory's own quality assurance program.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contacts
David W. Moore
Serengeti Resources Inc.
President and CEO
(604) 605-1300
(604) 899-1240 (FAX)
Email: dmoore@serengetiresources.com
Investor Relations
Serengeti Resources Inc.
(604) 685-8184
Email: info@serengetiresources.com
Website: http://www.serengetiresources.com
Serengeti Resources Inc. (TSX-V: SIR) is a Vancouver based junior exploration company focused on exploration for copper (Cu), gold (Au) and molybdenum (Mo) deposits in the Quesnel Trough, Northern British Columbia - the largest copper-gold porphyry belt in Canada.
A management team highly experienced in the resources sector and associated with numerous successful discoveries leads Serengeti. The Company is mandated for growth, which it strives to achieve by advancing the value of its drill-ready portfolio of properties.
http://www.serengetiresources.com
SERENGETI RESOURCES INC. (Tier2 (CDNX:SIR.V) Delayed quote data Edit
Last Trade: 0.23 CAD
Trade Time: Jan 21
Change: 0.00 (0.00%)
Prev Close: 0.23
Open: 0.23
Bid: 0.23
Ask: 0.25
1y Target Est: N/A
Day's Range: 0.21 - 0.23
52wk Range: 0.10 - 1.85
Volume: 71,300
Serengeti Reports Results From Croy Bloom; Followup Drilling Planned
Wed Jan 21, 8:30 AM
http://ca.news.finance.yahoo.com/s/21012009/28/link-f-ccnmatthews-serengeti-reports-results-croy-bloom-followup-drilling-planned.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2009) - Serengeti Resources Inc. (TSX VENTURE: SIR.V) reports the results of a drilling program completed by Newcrest Mining BC Limited on the Serengeti's Croy Bloom property located in the Quesnel Trough of north-central British Columbia.
Four holes totaling 2,473 meters were drilled testing several large coincident geochemical and geophysical anomalies in September/October 2008. Newcrest completed this first phase program as a part of a multi-year option agreement under which Newcrest may spend $10.0 million to earn a 51% joint venture interest in Serengeti's Croy Bloom/Davie Creek property. Highlights of the drill program are as follows and summary results are provided in the table below.
- Two holes, (CBB001 and CBB002), drilled on the Bloom Cirque target intersected locally strongly altered andesite, diorite, monzodiorite and breccias hosting widespread moderate copper and weaker gold mineralization from surface to over 680m in depth. The broadest mineralized interval, 136 meters grading 0.10% Cu was encountered in hole CBB001. Hole CBB002 drilled elsewhere in the same target intersected several narrower intervals including; 26 meter grading 0.12% copper and a 5 meter interval near the bottom of the hole grading 0.22% copper, trace gold.
- One hole, (CBR001), testing the Raven target intersected locally pyritic andesite and diorite with alteration intensity increasing down-hole. The highest values encountered include 1.02% copper over a meter at 327 meters and 2.9 g/t gold over 2 meters at 380 meters.
- A hole (CBD001), on the Davie Creek property encountered several narrow intercepts of molybdenite mineralization including 0.188% Mo over 0.3 meters and 0.056% Mo over 2 meters indicating that the hole was drilled peripheral to the Davie Creek molybdenum zone.
In providing the results, Newcrest has indicated that they intend to conduct a follow up drill program in the summer of 2009.
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Croy Bloom/Davie Creek Significant Analytical Results
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From To Interval Copper Gold Silver Mo Orientation
Hole (m) (m) (m) % g/t g/t % dip/az
--------------------------------------------------------------------------
192.0 202.0 10.0 0.05 0.17 0.4 -
-----------------------------------------------------
235.0 243.0 8.0 0.08 0.10 0.6 -
-----------------------------------------------------
CBB001 302.0 438.0 136.0 0.10 0.03 0.3 - -60 degrees/
----------------------------------------------------- 50 degrees
Incl. 438.0 10.0 0.18 0.09 0.3 -
428.0
-----------------------------------------------------
507.0 508.0 1.0 0.90 0.62 3.0 -
--------------------------------------------------------------------------
26.0 30.0 4.0 0.12 0.01 0.6 0.001
-----------------------------------------------------
67.0 68.0 1.0 0.16 0.01 0.7 0.001
-----------------------------------------------------
117.0 143.0 26.0 0.12 0.01 0.2 0.001
-----------------------------------------------------
198.0 226.0 28.0 0.10 0.02 0.3 - -60 degrees/
CBB002 ----------------------------------------------------- 230 degrees
342.0 356.0 14.0 0.10 0.01 0.1 -
-----------------------------------------------------
380.0 383.0 3.0 0.17 0.01 0.2 0.002
-----------------------------------------------------
670.0 672.0 2.0 0.08 0.63 0.4 -
-----------------------------------------------------
681.0 686.0 5.0 0.22 0.05 - -
--------------------------------------------------------------------------
118.0 124.8 6.8 0.02 0.29 0.4 -
-----------------------------------------------------
275.3 277.1 1.8 0.76 0.32 5.6 0.003
-----------------------------------------------------
327.0 328.0 1.0 1.02 0.19 10.1 -
-----------------------------------------------------
CBR001 351.6 352.8 1.2 0.32 0.29 5.1 - -60 degrees/
----------------------------------------------------- 270 degrees
380.0 382.0 2.0 - 2.90 0.5 -
-----------------------------------------------------
458.0 460.0 2.0 0.01 0.48 0.8 -
-----------------------------------------------------
499.0 501.0 2.0 0.01 0.64 1.3 -
--------------------------------------------------------------------------
487.7 488.0 0.3 - 0.01 1.5 0.188 -58 degrees/
CBD001 ----------------------------------------------------- 225 degrees
506.0 508.0 2.0 - 0.01 3.5 0.056
--------------------------------------------------------------------------
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 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. Serengeti is well funded to advance its projects with a working capital position of approximately $9.2 million.
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 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 John Woodman CPG, Senior Geologist for Newcrest Mining BC Limited. 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.
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.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Contacts
David W. Moore
Serengeti Resources Inc.
President and CEO
(604) 605-1300
(604) 899-1240 (FAX)
Email: dmoore@serengetiresources.com
Investor Relations
Serengeti Resources Inc.
(604) 685-8184
Email: info@serengetiresources.com
Website: www.serengetiresources.com
Serengeti drills 75 m of 2.2% Cu, 1.9 g/t Au at Kwanika
2008-03-26 07:09 MT - News Release
Mr. David Moore reports
SERENGETI INTERSECTS 610 METERS GRADING 0.74% COPPER, 0.78 G/T GOLD INCLUDING 75 METERS OF 2.28% COPPER, 1.92 G/T GOLD AT KWANIKA
Serengeti Resources Inc. has released the results of the first five holes of the winter 2008 drill program currently in progress on its 100-per-cent-owned Kwanika porphyry copper-gold property, British Columbia.
"K-08-62, which intersected a very long interval of supergene-enriched copper-gold mineralization, grading 1.06 per cent copper and 1.09 grams per tonne gold over 383.9 metres, is a truly exceptional hole," stated president and chief executive officer, David Moore. "We continue to be impressed with the grades and lateral continuity we are seeing along the open-edged, western side of the system at Kwanika. This has significant implications for the tonnage potential of this high-grade zone," said Mr. Moore.
SIGNIFICANT ANALYTICAL RESULTS
Inter-
From To val Cu Au Ag CuEq AuEq
Hole (m) (m) (m) (%) (g/t) (g/t) (%) (g/t)
K-08-62 130.9 740.9 610.0 0.74 0.78 1.8 1.21 2.07
incl 130.9 514.7 383.9 1.06 1.09 2.5 1.71 2.94
incl 241.2 453.9 212.7 1.40 1.58 3.2 2.35 4.02
incl 272.8 348.2 75.4 2.28 1.92 4.2 3.43 5.89
and 484.5 514.7 30.2 1.47 1.93 3.0 2.62 4.49
363.4 580.7 217.3 0.38 0.48 1.7 0.67 1.15
K-08-58 402.8 472.4 69.7 0.71 0.93 2.2 1.27 2.18
incl 351.0 608.7 257.7 0.30 0.21 0.9 0.43 0.74
K-08-59 351.0 461.2 110.3 0.50 0.39 1.6 0.74 1.27
incl 351.0 380.1 29.2 1.21 1.09 3.1 1.87 3.21
386.6 587.4 201.0 0.37 0.36 1.0 0.59 1.01
K-08-60 386.6 515.7 129.4 0.49 0.50 1.3 0.79 1.36
incl 405.8 435.0 29.2 1.19 1.25 3.2 1.94 3.33
K-08-61 334.0 390.5 56.5 0.34 0.19 1.2 0.46 0.79
Date Open High Low Close Volume Adj Close*
28-Mar-08 1.50 1.85 1.43 1.50 5,132,100 1.50
27-Mar-08 1.28 1.55 1.16 1.50 4,432,400 1.50
26-Mar-08 0.84 1.47 0.80 1.38 8,919,000 1.38
25-Mar-08 0.62 0.62 0.56 0.58 56,500 0.58
24-Mar-08 0.60 0.61 0.55 0.55 33,000 0.55
SIRI - TA annotated in live chart
36-Mo., Weekly Chart - RSI testing new heights; price breaking through resistance trendline; 14, 45, 90-STO's lining up; MFI and OBV in the increase. Overall - BULLISH outlook.
Happy trading!
David
Serengeti drills 111 m of 0.69% Cu, 0.54 g/t Au
2007-01-09 09:18 ET - News Release
Mr. David Moore reports
SERENGETI DRILLS MAJOR COPPER-GOLD INTERCEPT ON KWANIKA PROPERTY 111 METRES OF 0.69% COPPER AND 0.54 G/T GOLD
Serengeti Resources Inc.'s assay results of hole K-06-9, from the recently completed second phase of drilling on its 100-per-cent-owned Kwanika property, confirm the discovery of a potentially major new copper-gold mineralized zone. Kwanika is situated in the prolific Quesnel trough, between the operating Kemess mine and Mount Milligan development project, and is accessible by road from Fort St. James, B.C.
Hole K-06-9, which was drilled vertically, intersected a sulphide zone averaging 0.69 per cent copper and 0.54 gram per tonne gold over 111.13 metres including a high-grade zone located near its base averaging 1.49 per cent copper and 1.9 g/t gold over 22.15 metres. An overlying, 34-metre-thick native copper-bearing oxidized zone was intersected above the sulphide zone. Full results from the hole are presented in the table below. K-06-9 was drilled near the centre of a large induced polarization geophysical anomaly which potentially indicates a large sulphide system measuring 2,500 metres long by 300 to 700 metres wide. A plan map of the drill holes at Kwanika can be found on Serengeti's website.
"This is a significant result and represents one of the best holes drilled on a greenfields porphyry copper-gold discovery in British Columbia in a long time," stated president and chief executive officer David Moore. "The grade of this hole compares very favourably with the Kemess mine (0.21 per cent copper, 0.65 g/t gold) and Mount Milligan (0.25 per cent copper, 0.6 g/t gold). The potential size of the system is large and equally exciting is the fact that the best grades appear to be interrupted near the bottom of the hole by several more recent crosscutting dikes, which strongly suggests that the mineralized system may extend to greater depth," explained Mr. Moore. "We are currently planning a large follow-up drill program which will take advantage of the fact that Kwanika is a road-accessible, year-round project."
K-06-9 SIGNIFICANT RESULTS
Zone From To Interval Cu Au Ag
(m) (m) (m) % g/t g/t
Oxide 73.10 107.15 34.05 0.18 0.09 0.6
Sulphide 112.62 223.75 111.13 0.69 0.54 2.3
including
Sulphide 112.62 172.0 59.38 0.58 0.24 2.1
and
Dike 172.0 183.85 11.85 trace trace trace
and
Sulphide 183.85 206.0 22.15 1.49 1.90 4.6
and
Sulphide 206.0 209.35 3.35 0.56 0.28 1.9
and
Dike 209.35 217.15 7.80 0.02 trace 0.1
and
Sulphide 217.15 223.75 6.60 1.02 0.34 3.4
230.74
Dike 223.75 EOH 6.99 trace 0.09 trace
Serengeti completes sale of Tide to American Creek
2006-12-27 14:04 ET - News Release
Mr. David Moore reports
SERENGETI COMPLETES SALE OF TIDE PROPERTY INTEREST
Serengeti Resources Inc. has closed a transaction reported in Stockwatch Oct. 5, 2006, assigning its option to earn a 51-per-cent interest on the Tide property, located north of Stewart, B.C., to American Creek Resources Ltd.
Under an assignment of option agreement dated Oct. 27, 2006, American Creek has purchased Serengeti's right to earn from Rimfire Minerals Corp. a 51-per-cent interest in the Tide property. In consideration of the assignment, American Creek paid $75,000 and reimbursed Serengeti $75,192 (being the amount of exploration expenditures incurred by Serengeti during September and October, 2006), issued Serengeti 354,000 American Creek common shares, and assumed Serengeti's obligations under the Serengeti/Rimfire option agreement dated Nov. 20, 2003, which included at closing, making a $40,000 option payment to Rimfire. In addition, Serengeti has reserved a 1-per-cent net smelter returns royalty on the 51-per-cent interest, should such interest vest with American Creek.
David Moore, president of Serengeti, stated: "We are pleased to have completed this sale which strengthens our treasury and enables us to focus on our 100-per-cent-owned projects including the Kwanika copper-gold project where a significant follow-up drill program is planned for early in the new year. The deal structure also enables us to retain some participation in the upside potential on the Tide property."
Serengeti drills Kwanika, admires core, awaits assays
2006-12-08 09:53 ET - News Release
Mr. David Moore reports
SERENGETI COMPLETES PHASE II DRILLING AT KWANIKA PROPERTY
Serengeti Resources Inc. has recently completed the second phase of drilling on its Kwanika copper-gold property. Five holes totalling 1,257 metres were drilled, following up on copper-gold mineralization first identified in a program on the property in August (see news in Stockwatch on Sept. 20, 2006). All holes drilled in the current program have encountered sulphides, with particularly encouraging signs of copper mineralization encountered in drill hole K-06-9. Kwanika is situated midway between the Lorraine and Mt. Milligan deposits (206-million-tonne resource grading 0.25 per cent copper, 0.6 gram per tonne gold) and is accessible by road from Fort St. James, B.C.
The five holes in the current program were drilled within a 500-by-500-metre area around earlier hole K-06-4 and tested the central portion of a large induced polarization (IP) chargeability anomaly described in more detail in news in Stockwatch on Nov. 15, 2006. Strongly altered andesitic volcanics and monzonitic intrusive rocks carrying variable amounts of pyrite and lesser chalcopyrite have been encountered in all holes. The most southerly hole of the current program, K-06-9, has provided the visibly most encouraging signs and contains three styles of copper mineralization within a 131-metre interval: a 33-metre thick upper zone from 73 to 106 m containing minor native copper in hematitic breccia followed by a six m dyke; a three m zone from 112 to 115 m containing supergene chalcocite mineralization; followed by an 89 m thick primary sulphide zone from 115 to 204 m carrying variable amounts of pyrite, chalcopyrite and minor covellite and bornite within highly altered monzonitic rocks. The intensity of mineralization appears to increase toward a fault at the base of the zone. A narrower interval of copper mineralization was also encountered in the footwall to the fault, before the hole was stopped at 230 m depth.
The mineralization and alteration described above has not been confirmed by assay or mineralogical analysis and consequently this information should not be relied upon for quantitative purposes. Sawn drill core has been submitted for assay, with priority put on hole K-06-9. Results will be released when available.
The company also announces that it has tripled the size of its 100-per-cent-owned land position at Kwanika by staking to 94 square kilometres, and staked three additional blocks to the north, totalling 185 square km in a similar geological setting.
Never noticed. Nice breakout.
SIR
SIR doubles in one day. Anybody know what's going on?
SIR.V 3:59PM ET 0.59 0.26 78.79% 2,132,372 0.12 - 0.35 0.35 - 0.60 0.47 0.33
Serengeti Completes Phase II Drilling at Kwanika Property
Friday December 8, 9:30 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 8, 2006) - Serengeti Resources Inc. (TSX VENTURE:SIR - News) reports that it has recently completed the second phase of drilling on its Kwanika copper-gold property. Five holes totaling 1257 meters were drilled, following up on copper-gold mineralization first identified in a program on the property in August (See News Release dated September 20, 2006). All holes drilled in the current program have encountered sulphides, with particularly encouraging signs of copper mineralization encountered in drill hole, K-06-9. Kwanika is situated midway between the Lorraine and Mt. Milligan deposits (206 million tonne resource grading 0.25 % copper, 0.6 g/t gold) and is accessible by road from Ft. St. James, B.C.
The five holes in the current program were drilled within a 500 by 500 meter area around earlier hole K-06-4 and tested the central portion of a large induced polarization (IP) chargeability anomaly described in more detail in News Release dated November 15, 2006. Strongly altered andesitic volcanics and monzonitic intrusive rocks carrying variable amounts of pyrite and lesser chalcopyrite have been encountered in all holes. The most southerly hole of the current program, K-06-9 has provided the visibly most encouraging signs and contains three styles of copper mineralization within a 131m interval: a 33m thick upper zone from 73-106m containing minor native copper in hematitic breccia followed by a 6m dyke; a 3m zone from 112-115m containing supergene chalcocite mineralization; followed by an 89m thick primary sulphide zone from 115-204m carrying variable amounts of pyrite, chalcopyrite and minor covellite and bornite within highly altered monzonitic rocks. The intensity of mineralization appears to increase towards a fault at the base of the zone. A narrower interval of copper mineralization was also encountered in the footwall to the fault, before the hole was stopped at 230m depth.
The mineralization and alteration described above has not been confirmed by assay or mineralogical analysis and consequently this information should not be relied upon for quantitative purposes. Sawn drill core has been submitted for assay, with priority put on hole K-06-9. Results will be released when available.
The Company also announces that it has tripled the size of its 100% owned land position at Kwanika by staking, to 94 sq km and staked three additional blocks to the north, totaling 185 sq km in a similar geological setting.
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 molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough. Additional information can be found on Serengeti's website at www.serengetiresources.com.
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.
Serengeti Resumes Drilling at Kwanika Copper-Gold Property
Wednesday November 15, 8:30 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 15, 2006) - Serengeti Resources Inc. (TSX VENTURE:SIR - News) is pleased to announce that it has resumed drilling on its Kwanika property located in the Quesnel Trough, the largest copper-gold porphyry belt in Canada. This renewed drilling will be focused on a newly discovered copper-gold zone identified in August 2006. Kwanika is situated midway between the Lorraine and Mt. Milligan (206 million tonnes grading 0.25% copper and 0.6 g/t gold) deposits and is accessible by road from Ft. St. James, B.C.
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The current program will consist of 1000 metres of drilling in five holes stepping out from DDH-K-06-04, which intersected 18.3 metres grading 0.32% copper and 0.152 g/t gold, along with anomalous silver and molybdenum values (See News Release dated September 20, 2006). This newly identified zone at Kwanika is associated with strong potassic alteration near the contact between andesites and intrusive rocks which is a very similar geological setting for much of the resource at Mt. Milligan.
As part of the current program, a recently completed more detailed and deeper penetrating induced polarization (IP) geophysical survey has outlined a chargeability anomaly associated with this new mineralized zone, measuring at least 1750 metres in length by 500-750 metres in width and interpreted to extend to greater than 250 metres in depth.
"We like the nature of the mineralization encountered in DDH-K-06-04 and are strongly encouraged by the indicated size of the IP anomaly apparently associated with this new zone at Kwanika. We are pleased to have this follow-up drill program underway," stated David Moore, President of Serengeti.
The company also reports that it has received results from a scout drilling program conducted on its Tchentlo property located west of Mt. Milligan earlier this year. Three short holes tested a variety of targets on Tchentlo and although two of these returned anomalous copper-gold values, the results do not warrant follow-up at the current time.
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 molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough. Additional information can be found on Serengeti's website at www.serengetiresources.com.
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.
It looks like something is cookin' with this one.
Serengeti Identifies Two Attractive Primary Gold Targets on Valleau
Thursday March 2, 8:30 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2006) - Serengeti Resources Inc. (TSX VENTURE:SIR - News) is pleased to report that it has identified two attractive primary gold targets on its Valleau project as a result of the integration of an airborne geophysical survey flown by the company in 2005 with all prior work completed on the property. This 64 sq. km. property is located in the highly mineralized Quesnel Trough in north-central British Columbia about 70 km. northwest of the Mt. Milligan deposit and 125 km. northwest of Fort St. James.
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The recent airborne magnetic and radiometric survey has highlighted two gold targets as follows. The first target covers an area of about 1200 meters long and up to 300 meters wide in Chickadee Creek, where previously identified anomalous gold soil and stream sediment values ranging up to 500 parts per billion are associated with angular grains of alluvial gold. A cross structure identified by the recent geophysical survey coincides with a sharp upstream cutoff to this anomaly, potentially indicative of a nearby gold source area.
The second target zone is large, covering an area of about 4 km. long by up to 1 km. wide where prior sampling has established anomalous gold values in soil samples as well as in float boulders of altered rocks. The recent geophysical survey has identified a series of distinctive, coincident magnetic and radiometric anomalies associated with this target, the size of which is sufficient to host a large mineralized system.
These two zones apparently represent gold dominated systems which is somewhat unusual in a trend that is highly prospective primarily for porphyry copper-gold deposits. Both of these targets are associated with major favorable cross cutting structures. The first target may represent a structurally controlled, higher grade vein-hosted gold situation, whereas the second target may represent a large intrusive-related gold system.
David Moore, President of Serengeti, stated: "We are pleased that the airborne geophysical survey has highlighted these two attractive gold targets. Both represent previously unrecognized target types for the immediate area. Furthermore, given these positive factors and the extensive overburden cover on the property, we believe there is excellent gold potential on the Valleau claims."
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 molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough where the Company controls 12 separate properties totaling over 340 sq. km. It is Serengeti's intention to seek joint venture participation on several of these projects.
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.
Serengeti Identifies Two Attractive Primary Gold Targets on Valleau
Thursday March 2, 8:30 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2006) - Serengeti Resources Inc. (TSX VENTURE:SIR - News) is pleased to report that it has identified two attractive primary gold targets on its Valleau project as a result of the integration of an airborne geophysical survey flown by the company in 2005 with all prior work completed on the property. This 64 sq. km. property is located in the highly mineralized Quesnel Trough in north-central British Columbia about 70 km. northwest of the Mt. Milligan deposit and 125 km. northwest of Fort St. James.
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The recent airborne magnetic and radiometric survey has highlighted two gold targets as follows. The first target covers an area of about 1200 meters long and up to 300 meters wide in Chickadee Creek, where previously identified anomalous gold soil and stream sediment values ranging up to 500 parts per billion are associated with angular grains of alluvial gold. A cross structure identified by the recent geophysical survey coincides with a sharp upstream cutoff to this anomaly, potentially indicative of a nearby gold source area.
The second target zone is large, covering an area of about 4 km. long by up to 1 km. wide where prior sampling has established anomalous gold values in soil samples as well as in float boulders of altered rocks. The recent geophysical survey has identified a series of distinctive, coincident magnetic and radiometric anomalies associated with this target, the size of which is sufficient to host a large mineralized system.
These two zones apparently represent gold dominated systems which is somewhat unusual in a trend that is highly prospective primarily for porphyry copper-gold deposits. Both of these targets are associated with major favorable cross cutting structures. The first target may represent a structurally controlled, higher grade vein-hosted gold situation, whereas the second target may represent a large intrusive-related gold system.
David Moore, President of Serengeti, stated: "We are pleased that the airborne geophysical survey has highlighted these two attractive gold targets. Both represent previously unrecognized target types for the immediate area. Furthermore, given these positive factors and the extensive overburden cover on the property, we believe there is excellent gold potential on the Valleau claims."
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 molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough where the Company controls 12 separate properties totaling over 340 sq. km. It is Serengeti's intention to seek joint venture participation on several of these projects.
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.
Somethings up. It never fails to amaze me how some things get by completely under the radar of every body watching. Check OSK. That first big volume push signaled it.
Serengeti Appoints New Director
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 12, 2006) - Serengeti Resources Inc. (TSX VENTURE:SIR) is pleased to announce the appointment of mining finance specialist Lewis Lawrick as a Director of the Company effective today.
Mr. Lawrick brings significant relevant mining finance and capital markets experience to Serengeti. He is currently a Managing Partner of Birkenshaw & Company Ltd., a private Toronto based company engaged in providing a broad range of corporate financial advisory services, including mergers and acquisitions, asset divestitures, financial re-structurings and debt and equity financings to its clients in the mineral sector.
As well, Mr. Lawrick is Managing Director of Thorson Fordyce Merchant Capital, a private merchant bank whose mandate is "to provide enhanced returns on capital via structured investments in the resource sector". Mr. Lawrick brings an 'activist' approach to his role to as an independent Board member of several publicly listed 'junior' mining companies. His experience as a Director covers both exploration and pre-development companies; base and precious metals; and a wide geographic range, extending from North and South America, Africa, Australia, to China.
David Moore, President of Serengeti stated: "On behalf of all the Directors, I would like to say how pleased we are to have someone of Mr. Lawrick's ability and background join the team. Lewis will bring significant new capabilities to Serengeti which should prove invaluable in advancing the Company's strategic growth initiatives."
With the expiration of a number of the Company's options at year end, new and replacement options are being granted concurrent with Mr. Lawrick's appointment. Five directors and officers of the Company and one consultant were granted stock options totaling 983,000 shares at a price of $0.15 per share from Serengeti's incentive stock option plan. The options are exercisable for a five year period and are subject to vesting provisions.
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 focused on the discovery and development of copper-gold molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough where the Company controls 13 separate properties totaling over 340 sq. km.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Serengeti Outlines 3 Large Drill-Ready Targets on Croy-Bloom Copper-Gold Property
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 15, 2005) - Serengeti Resources Inc. (TSX VENTURE:SIR) reports that a number of compelling targets have now been brought to the drill-ready stage on the Company's Croy-Bloom copper-gold property located in the northern portion of the 600 kilometer long Quesnel Trough, the largest copper-gold porphyry belt in Canada. Of particular importance are three specific areas which have been further outlined as a result of the recently completed ground induced polarization (IP) geophysical program. This work has in turn confirmed and greatly enhanced previously identified geochemical and airborne geophysical anomalies. Serengeti owns or has the right to earn a 100% interest in this property.
The Croy-Bloom property encompasses roughly 49 sq. km. and is located in north-central B.C. about 75 km. south of the Kemess Mine, which produces 300,000 ounces of gold and 75 million pounds of copper annually. The property is easily accessible and lies within two km. of a secondary spur from the Kemess Mine haul road. The recently completed geophysics has solidly confirmed the existence of one or more strong, potential sulphide systems, similar to those associated with virtually all porphyry copper-gold deposits. The best geophysical target identified thus far is the Bloom Cirque which is coincident with a four sq. km. copper-gold-cobalt geochemical anomaly. Assays from 150 mineralized rocks previously collected from this target area have a range from trace to 5.5% copper, 9.4 g/t gold, and 0.075% cobalt in grab samples. The better cobalt values are among the highest known reported from surface samples anywhere in the Quesnel Trough.
This new work, combined with prior surveying, has outlined a highly encouraging, IP geophysical anomalous trend measuring some 5 km. in length and up to 1 km. in width. This anomaly is open to the east, where additional targets are possible. Sampling of mineralized rocks elsewhere on the property in the course of the current program returned values up to 1.6% copper and 1.3 g/t gold and a large portion of the property has not yet been thoroughly sampled.
David Moore, President of Serengeti, stated: "We are very pleased with these recent IP geophysical results which have strongly enhanced several of the copper-gold targets on the property. The indicated size of the system is similar to that at Kemess South (about 4 km. long and up to 1 1/2 km. wide) and is more than sufficient to host a large porphyry copper-gold deposit. The presence of elevated cobalt values is also intriguing, given its current price of about $13 per pound. We now feel we have three compelling, high quality drill target areas on Croy-Bloom that are among the best we've seen in the Quesnel Trough."
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 molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough where the Company controls 13 separate properties totaling over 340 sq. km. It is Serengeti's intention to seek joint venture participation in several of these projects.
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.
Serengeti also reports that it has granted stock options to a consultant to purchase up to a total of 50,000 common shares in the capital of the Company at a price of $0.15 per share. The options are exercisable for a two year period and are subject to certain vesting provisions.
Serengeti Identifies Major New Target on Kwanika
Thursday October 27, 8:30 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 27, 2005) - Serengeti Resources (TSX VENTURE:SIR - News) is pleased to report encouraging new results from the recently completed airborne geophysical survey and ground geochemical sampling program conducted on the Company's Kwanika copper-gold-molybdenum (Cu-Au-Mo) property located in the Quesnel Trough in north-central B.C. A total of 6 new target zones were identified, and one in particular outlined a much larger and stronger system than had previously been discovered on the property.
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The Kwanika project encompasses approximately 28 sq. km. and is situated in the northern portion of the Quesnel Trough, the largest copper-gold porphyry belt in Canada. Serengeti's helicopter geophysical survey confirmed the previously known mineralized occurrences on this project. However, a much more pronounced anomaly, of a sufficient size to reflect a large potential deposit, was identified in an overburden covered area 1.5 kms. north of previous workings. Of primary importance is that this geophysical signature was confirmed by geochemical sampling in this area, with grab samples running up to 0.69 % copper, 0.20 g/t gold and 0.41 % molybdenum from porphyry-style mineralization. Prior geophysical surveying has identified an 800 meter wide, open-ended IP anomaly associated with this target.
Historical work on the Kwanika project has taken place mostly on the southern portion of the property where most mineralized samples have returned values between 0.1 % and 1.0 % copper, with gold and molybdenum credits. The main mineralized zone is open in two directions, to depth and is locally more than 150 meters in thickness.
David Moore, President of Serengeti, stated: "This new target is exactly the sort of signature we were looking for when we flew the survey. Similar geophysical signatures are present at the other copper-gold deposits in the Quesnel Trough. Furthermore, our work at Kwanika this past summer has demonstrated that this is a transitional Cu-Au-Mo mineralized system, which is a characteristic of some of the world's largest porphyry deposits. We look forward to completing the ground geophysical work on this attractive target over the next several months and are confident that this prospect will rapidly advance to the drill stage."
By way of review, the Kwanika property is located approximately mid-way between the Lorraine copper-gold deposit (possible 250 million tonne target) and the Mt. Milligan deposit (est. resource of 5.6 million ounces of gold, 1.7 billion pounds copper - Placer Dome 2004 annual report). The Quesnel Trough geological belt extends approximately 600 kms. from Mt. Polley in the south to the Kemess deposit (300,000 oz./yr. gold mine) in the north.
Serengeti is a mineral exploration company with an experienced management team with a solid track record of exploration success. The Company is focused on the discovery and development of copper-gold-molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough were the Company controls 12 separate properties totaling 340 sq.km. It is the Company's intention to seek joint-venture participation on several of these projects.
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.
Thu Sep 1, 2005
Rimfire and Serengeti Expand 36 Zone at Tide
--------------------------------------------------------------------------------
Vancouver, BC - September 1, 2005: Rimfire Minerals Corporation (TSX-V:RFM) and partner Serengeti Resources Inc. (TSX-V: SIR) report on results from the Tide Project 36 km north of Stewart, BC. Serengeti funded exploration that included eight diamond drill holes totalling 967 metres. This program expanded the 36 Zone gold mineralization downdip and in both directions along strike, while infill soil geochemical sampling has increased the gold-arsenic+/-antimony soil geochemical anomaly coincident with the 36 Zone to an area of 0.5 by 2.1 kilometres.
David Moore, President of Serengeti stated, "The 36 Zone soil geochemical anomaly is much larger than first recognized and presents a compelling target with soil values exceeding 0.5 g/t gold and locally up to 16.2 g/t gold. Drilling to date has tested approximately 5% of this area, intersecting broad zones of gold mineralization indicating the 36 Zone is part of a large mineralized system. Our next step is to evaluate the lithological and structural controls on gold mineralization in order to better target future drilling campaigns."
The primary focus of the 2005 drilling was to follow up the 2004 discovery at the 36 Zone where drill hole TIDE04-03 averaged 1.00 g/t gold over 129.4 metres. Hole TIDE05-07 extended gold mineralization 45 metres along strike to the northeast, intersecting 55.67 metres of 0.74 g/t gold followed by a 50.05 metre intersection averaging 0.45 g/t gold further downhole. TIDE05-08 stepped back 60 metres on section from the discovery hole extending the zone to a depth of 110 metres, intersecting a 26.14 metre interval of 1.4 g/t gold within a 121.73 metre interval of 0.72 g/t gold. A second intersection further downhole returned 1.12 g/t gold over 18.29 metres. TIDE05-10 tested the zone 105 metres to the southwest, intersecting 60.31 metres of 0.44 g/t gold. A fourth hole, 225 metres south-southwest of the 2004 hole TIDE04-03, tested a geophysical EM conductor, intersecting 6.72 g/t gold over 0.51 metres. Holes TIDE05-05, 06, 11 and 12 were targeted at the 52 Zone.
2005 Diamond Drilling Results
--------------------------------------------------------------------
Hole Zone Total
Depth From To Interval Gold Silver
(m) (m) (m) (m) (g/t) (g/t)
--------------------------------------------------------------------
TIDE05-05 52 Zone 39.01 26.01 26.52 0.51 1.08 18.8
TIDE05-06 52 Zone 63.40 47.35 49.19 1.84 4.21 6.3
including 47.35 47.94 0.59 6.24 8.8
TIDE05-07 36 Zone 211.23 58.78 114.45 55.67 0.74 0.5
including 58.78 68.38 9.60 1.31 0.6
and including 98.22 114.45 16.23 1.03 1.0
139.64 189.69 50.05 0.45 0.9
209.29 211.23* 1.94 2.75 5.3
TIDE05-08 36 Zone 212.45 29.2 36.56 7.36 0.72 0.9
54.98 176.71 121.73 0.72 0.6
including 124.51 150.65 26.14 1.40 0.8
194.16 212.45 18.29 1.12 0.7
TIDE05-09 36 Zone 165.22 62.08 62.59 0.51 6.72 3.4
TIDE05-10 36 Zone 166.12 25.91 28.95 3.04 2.49 3.8
80.77 141.08 60.31 0.44 1.1
TIDE05-11 52 Zone 53.64 30.43 31.17 0.74 2.74 1.8
TIDE05-12 52 Zone 56.69 No significant results
--------------------------------------------------------------------
* Hole terminated in fault zone
Infill soil geochemical sampling between the 36 Zone and the South Pit soil anomalies to the south has shown that the two anomalies are continuous as defined by gold values in excess of 500 ppb (0.5 g/t) gold. This gold-arsenic+/-antimony anomaly is now approximately 500 metres by 2100 metres in size, with diamond drilling having tested an area of 170 by 350 metres. The 36 Zone remains a compelling bulk tonnage-style gold target. Favourable results from preliminary metallurgical studies (see news releases dated June 25 and April 8, 2005) show that this mineralization is amenable to leaching, with gold recoveries averaging 73-81%.
Prospecting, trenching and diamond drilling were completed at the 52 Zone, where high grade gold and silver mineralization was discovered in 2004. Mineralization at the 52 Zone consists of steeply-dipping, west-northwest trending, quartz-pyrite-arsenopyrite+/-sphalerite-galena-sulphosalt veins from 0.1 m to 0.75 m in width. Trench vein chip sample results range from 0.25 metres of 158.5 g/t gold and 363.0 g/t silver to 0.5 metres of 2.4 g/t gold and 57.5 g/t silver. Subsequent diamond drilling, combined with the surface results has shown mineralization to be variable in nature, with the best drill intersection averaging 6.24 g/t gold and 8.8 g/t silver over 0.59 metres in hole TIDE05-06. The 52 Zone occurs within a corridor of west-northwest trending veins characterized by a large area of anomalous antimony-silver-arsenic+/-gold soil geochemistry. Prospecting along this corridor yielded chip samples up to 1 km away from the 52 Zone, ranging in value from 0.17 g/t gold and 7.3 g/t silver, to 18.5 g/t gold and 2300 g/t silver over 50 cm and 30 cm, respectively.
Analytical results from the current program were completed at ALS Chemex in North Vancouver, BC. The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by the Companies' qualified persons, David Caulfield, P. Geo., President and CEO of Rimfire Minerals Corporation and David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc. A detailed description of Quality Assurance / Quality Control procedures is available on the Companies' websites. Equity Engineering Ltd. provided geological and project management expertise and Driftwood Diamond Drilling Ltd. provided diamond drilling services.
Rimfire is an aggressive, well-financed mineral exploration company with a portfolio of highly prospective gold and silver properties in the western Cordillera. Partners include AngloGold (U.S.A.) Exploration Inc., Barrick Gold Corporation, Newmont Mining Corporation, Northgate Minerals Corporation, Cangold Limited, and Serengeti Resources Inc.
Serengeti is a mineral exploration company, under experienced management who bring a solid track record of discovery. Serengeti is focused on discovery of copper-gold and gold-silver deposits in British Columbia, especially in the highly prospective Quesnel Trough and Stewart mining camp.
Serengeti completes eight holes on Tide project
2005-08-03 10:37 ET - News Release
Mr. David Moore reports
SERENGETI REPORTS PROGRESS ON TIDE, CROY-BLOOM AND KWANIKA PROJECTS
Serengeti Resources Inc. has provided an update on activities at the Tide, Croy-Bloom and Kwanika-Germansen-Valleau projects.
Tide project
Serengeti and its partner Rimfire Minerals Corp. have recently completed a program of diamond drilling on the Tide project located 36 kilometres north of Stewart, B.C. A total of 967 metres of drilling was completed in eight diamond drill holes in the period July 11 to 22. Both the 36 Zone gold discovery where Tide 04-03 intersected 1.00 gram per tonne gold over 129.4 metres and the 52 Zone vein structure where surface sampling in 2004 returned grades in grab samples up to 593 g/t gold and 14,708 g/t silver, were drilled. Geological mapping, prospecting, infill rock and soil sampling and some trenching were also carried out in the course of the current program. All samples have been submitted for analysis and results will be reported when available.
Croy-Bloom project
Previously unavailable drilling data have now been obtained for the Davie Creek molybdenum (Mo) prospect, located on Serengeti's Croy-Bloom property (see news in Stockwatch May 31, 2005) located 80 kilometres south of Northgate Minerals Corp.'s Kemess mine. The zone of interest consists of a greater than 1,600-metre-by-600-metre, strong molybdenum plus-minus tungsten soil anomaly, centred on a poorly exposed quartz monzonite intrusion (see Serengeti website for diagram). The central 650 metres of the soil anomaly was tested with six drill holes by Teck Exploration between 1979 and 1982; the assays for which are shown in the table below. Coincident with the soil anomaly is a strong IP chargeability anomaly, measuring 2,200 metres by 800 metres that was defined subsequent to the drilling. The Mo grades in drill holes show a distinct increase toward the southeast with the best drill section the most southerly one. Here, hole 81-4 cut 203 metres of 0.073 per cent Mo while the undercut hole (82-6) intersected 195 metres of 0.052 per cent Mo. Higher grade sections were encountered in both holes, including 0.125 per cent Mo and 0.090 per cent Mo each over 20 metres and 0.118 per cent Mo over nine metres in hole 81-4 and 0.073 per cent Mo over 62 metres in hole 82-6. Mineralization consists of molybdenite, scheelite and pyrite and occurs in quartz veinlets with strong, potassium feldspar alteration. The core was not assayed for tungsten. The zone is open to the southeast into a large, covered valley, as well as up-dip and to depth. The target at Davie Creek is a bulk tonnage system similar to other British Columbia mines which include the Endako mine (182 million tonnes at 0.087 per cent Mo) and Kitsault Lake (104 million tonnes at 0.11 per cent Mo).
DAVIE CREEK MOLY ZONE ASSAYS
Inter- Hole
From To section Mo length
(m) (m) (m) (%) (m)
Drill hole 79-1
108.2 261.2 153.0 0.026 261.2
Drill hole 79-2
104.0 336.5 232.5 0.022 336.5
Drill hole 81-3
98.3 362.0 263.7 0.024 457.2
Drill hole 81-4
309.7 512.6 202.9 0.073 546.2
including
327.7 347.5 19.8 0.125
including
380.0 400.0 20.0 0.090
including
475.0 484.0 9.0 0.118
Drill hole 81-5
142.3 424.0 281.7 0.030 470.9
including
403.0 418.0 15.0 0.057
Drill hole 82-6
339.2 563.1 223.9 0.034 777.7
563.1 758.8 195.7 0.052
including
604.4 667.0 62.6 0.073
I don't know. Don't worry, be happy you got your stink bid filled.
Someone at Scotia bailed just bailed. What's the latest SIR?
Serengeti Resources Acquires Croy Copper-Gold-Molybdenum Property from Northgate Minerals
Tuesday May 31, 8:33 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 31, 2005) - David W. Moore, President and CEO of Serengeti Resources Inc. (TSX VENTURE:SIR - News), is pleased to announce the acquisition of a 100% interest in the Croy porphyry copper-gold and molybdenum property from Northgate Minerals Corporation for 400,000 shares of Serengeti and a 0.75% NSR on any molybdenum production achieved from the property. This transaction is subject to regulatory acceptance. The 400,000 shares will be subject to a four month hold period.
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The Croy property is adjacent to Serengeti's Bloom property (see News Release November 18, 2004) and has been acquired to cover the balance of two large copper-gold soil/rock geochemical anomalies that previously straddled the Bloom-Croy property boundary, as well as a separate gold target and the Davie Creek molybdenum prospect. The property is located 80 km south of the Kemess Mine in northern British Columbia and is accessible by helicopter and or by logging roads from the Omineca Mining Road. The combined property now totals 6,368 hectares.
"We are particularly pleased with this acquisition that strongly complements one of our best copper-gold properties and look forward to advancing these attractive targets," stated David Moore, President of Serengeti. "The Raven gold target and Davie Creek molybdenum zone also add materially to the prospectivity of the ground."
Previous work on the Croy-Bloom property by Teck Corporation between 1979-82 and 1990-91 and by Northgate in 2002-2003 identified four attractive porphyry targets. The best copper-gold target is in the Bloom cirque area where a 1.8km by 1.6 km copper-gold soil/rock geochemical anomaly is associated with highly fractured and altered diorite that shows widespread copper mineralization. Anomalous soil/talus fine geochemical values range from 300 to 9,100ppm copper and from 30 to 2,080ppb gold. The average of 151 rock samples collected from the target area is 2,710ppm copper and 230ppb gold. Strongly anomalous cobalt and zinc values are also present. This zone is associated with, or on the edge of, strong aeromagnetic and radiometric anomalies from a survey flown by Northgate. These features are consistent with a shallowly buried porphyry copper-gold system.
The second copper-gold target lies 2km west of Bloom cirque and is connected to it by a copper-gold soil anomaly and by several outcrops of pyritic diorite. The zone consists of a copper and, in part gold soil geochemical anomaly that is at least 2km long by 0.5km wide and is largely covered by overburden. Anomalous soil values range from 100 to 1,350ppm copper and 30 to 200 ppb gold. This anomaly is on the edge of an aeromagnetic high and is coincident with a moderate to strong IP chargeability anomaly. In addition, the zone carries peripheral veins up to 1.5m wide in three areas, that show good grade copper and gold values in grab samples. Examples include 3.05%Cu, 42.5g/tAu; 6.4%Cu, 32.2g/tAu; and 2.7%Cu, 37.0g/tAu. Such high grade gold and copper veins are often found adjacent to big porphyry copper-gold systems. No drilling has been done on either of the copper-gold zones and in the case of Bloom cirque target neither has IP geophysics.
The third target (Raven) is in the northern part of the property and consists of a rusty, pyritic zone of diorite and andesite showing a 1,000m by 400m zone of 100 to 1,340ppb gold in soils coincident with a moderate IP chargeability anomaly that is greater than 2,000m long by 1,200m wide. Grab rock samples collected from the edge of this zone run 350, 360 and 780ppb gold. Prior drilling is limited to three diamond drill holes on a copper target just to the southeast of the gold soil anomaly and did not effectively test the gold target. One of these holes intersected 0.04%Cu and 20ppb to 120ppbAu over 146m associated with strong propylitic alteration.
The fourth target is located in the southwestern part of the property and is a porphyry molybdenum system referred to as the Davie Creek prospect. The target consists of a greater than 2,100m by 400m molybdenum+/-tungsten soil anomaly, centered on a young quartz monzonite intrusion. The zone is coincident with a strong IP chargeability anomaly, measuring 2,300m by 1000m, that was defined subsequent to the drilling. The central part of the soil anomaly was tested by six drill holes with assays for only the first three, apparently lower grade holes reported. These average 0.026%Mo over 153m, 0.022%Mo over 232m and 0.026%Mo over 118m. Partial geochemical analyses conducted subsequently by Northgate Minerals on hole 82-6 returned 0.054%Mo over 157m. Assays and logs are not currently available for holes 81-4 and 81-5 reported by workers at the time to be the best holes drilled within the Mo system. Mineralization consists of molybdenite, scheelite and pyrite in quartz stockwork a!
ssociated with strong secondary potassium feldspar alteration. The zone is open along strike and to depth. The target at Davie Creek is for a bulk tonnage system similar to other British Columbia molybdenum mines and deposits which include the Endako Mine (182 Mt at 0.087%Mo), Kitsault Lake (104 Mt at 0.11%Mo), Boss Mountain (6.7 Mt at 0.13%Mo) and Adanac (152 Mt at 0.063%Mo).
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements 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.
Serengeti is a mineral exploration company under experienced new management who bring a solid track record of discovery. Serengeti is focused on discovery of copper-gold and gold-silver deposits in British Columbia, especially in the highly prospective Quesnel Trough and Stewart mining camps.
Contact:
Serengeti Resources Inc.
David W. Moore
President and CEO
(604) 689-7761
Fax: (604) 689-5528
dmoore@SerengetiResources.com
www.serengetiresources.com
OR
Freeform Communications Inc.
Robert Ferguson
Investor Relations
(778) 371-9100 (x 1218)
Rimfire Minerals Corporation and Serengeti Resources
Inc.: Tide Airborne Survey Underway/Preliminary
Metallurgical Testwork Completed
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 5, 2005) - Rimfire
Minerals Corporation (TSX VENTURE:RFM) and Serengeti Resources Inc. (TSX
VENTURE:SIR) are pleased to report favourable metallurgical results and
the commencement of airborne geophysical surveying at the Tide Property,
located 36 kilometres north of the port of Stewart, BC.
The 2005 field programs at the Tide will focus on advancing the 36 Zone
gold discovery where TIDE04-03 intersected 1.00 g/t gold over 129.4
metres, including a 39.6 metre intersection averaging 1.92 g/t gold.
This is the first and only drill hole to test the 36 Zone soil
geochemical anomaly, a 450 x 350 metre, greater than 0.5 g/t gold in
soil anomaly that remains open in all directions.
Preliminary metallurgical testing of the 36 Zone has been completed on
four drill hole intervals, each of which was comprised of 50 gram splits
from eight original sample pulps from TIDE04-03. Bottle roll cyanidation
tests returned favourable gold leach recoveries of 78%-87%. Test results
for three of the samples indicated that a high proportion of the gold is
liberated after only 2 hours of leaching with the fourth sample
improving from 71% recovery to 82% after only 4 hours of leaching.
Cyanide consumption averaged 0.6 kg/t for the four samples tested.
Canadian Environmental and Metallurgical Inc. conducted the tests under
the direction of Global Discovery Labs, both of Vancouver, B.C. A more
detailed metallurgical study is currently being undertaken on drill core
to optimize recovery rates.
The current program consists of 315 line kilometres of airborne magnetic
and electromagnetic geophysical surveying flown at a line-spacing of 100
metres. This detailed geophysical surveying, in conjunction with
geological and geochemical data, will aid in targeting drilling at the
36 Zone and other targets. Aeroquest Limited of Ontario has been
contracted to complete the airborne survey.
Following completion of the airborne surveying, a second phase of work
will start when conditions are suitable for ground-based exploration
including core drilling, prospecting, mapping and in-fill geochemical
surveying.
Rimfire and Serengeti were attracted to the Tide Property by its large
soil and silt geochemical anomalies, the extent and high grades of its
polymetallic mineralization, favourable infrastructure and breadth of
mineralization in the Stewart-Sulphurets corridor. The
Stewart-Sulphurets gold camp hosts such deposits as the Kerr-Sulphurets
Gold deposits (3.4 million oz. gold) and Silbak-Premier Mine (2.1
million oz. gold, 43 million oz. silver).
Mineralization on the Tide Property is related to a 200-1000 metre wide,
hornblende-feldspar porphyry sill complex, an offshoot of the lower
Jurassic Summit Lake Stock. Modern exploration of the Property, dating
back to 1979, has identified 13 precious metal showings within a 7
square kilometer area. Work to date has indicated that the property has
the potential to host both bulk tonnage targets (36 Zone) distal to the
porphyry sill and high grade veins (52 Zone which returned grades up to
593 g/t gold and 14,708 g/t silver from a 0.5 metre representative grab
sample) both within the sill and peripheral to it.
Rimfire purchased the Tide Property outright from Newmont Exploration
Canada Limited in 2001, subject to a 1.5% Net Smelter Royalty (NSR).
Serengeti is earning a 51% interest in the Tide Property by spending
$1.435 million in exploration, paying $100,000 cash and issuing 325,000
shares by 2007. Rimfire is acting as project operator.
Rimfire is an aggressive, well-financed mineral exploration company with
a portfolio of highly prospective gold and silver properties in the
western Cordillera. Partners include AngloGold (U.S.A.) Exploration
Inc., Barrick Gold Corporation, Newmont Mining Corporation, Northgate
Minerals Corporation, Cangold Limited, and Serengeti Resources Inc.
Serengeti is a mineral exploration company, under experienced new
management who bring a solid track record of discovery. Serengeti is
focused on discovery of copper-gold and gold-silver deposits in British
Columbia, especially in the highly prospective Quesnel Trough and
Stewart mining camp.
The technical information in this news release has been prepared in
accordance with Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed by the Companies' qualified persons,
David Caulfield, P. Geo., President and CEO of Rimfire Minerals
Corporation and David W. Moore, P. Geo., President and CEO of Serengeti
Resources Inc.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Rimfire Minerals Corporation
David A. Caulfield
President and CEO
(604) 669-6660
or
Rimfire Minerals Corporation
Jason Weber
Manager, Corporate Communications
(604) 669-6660
info@rimfire.bc.ca
www.rimfireminerals.com
or
Serengeti Resources Inc.
David W. Moore
President and CEO
(604) 689-7761
or
Serengeti Resources Inc.
Robert Ferguson
Investor Relations, Freeform Communications Inc.
(778) 371-9100
info@serengetiresources.com
www.serengetiresources.com
The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release.
Gitennes strengthens board with appointment of new Director
VANCOUVER, March 31 /CNW/ - Gitennes Exploration Inc. (TSX-GIT) advises
shareholders that Vic Tanaka has been appointed to the Board of Directors of
the Company, and will stand as a nominee along with Jerry Blackwell, Lyle
Hepburn, Ken Booth and Ed Kimura at the Company's upcoming annual general
meeting on May 10, 2005.
Vic Tanaka is a career geologist with 35 years of exploration experience
and has been associated with a number of important base metal and uranium
discoveries. Vic is currently the President and CEO of both Fjordland
Exploration Inc. and Pathfinder Resources Ltd. and he is also a director of
Serengeti Resources Inc., Commander Resources Ltd. and Impact Minerals Ltd.
Prior to his involvement as a director of public companies, he was Vice
President for Freeport - McMoRan Gold Co., the General Manager, Exploration
for Asamera Inc. and a geologist with Cominco Limited.
Gitennes advises that both the Financial Statements and the Management
Discussion & Analysis for the year ended December 31, 2004 have been filed and
can be viewed on SEDAR, www.sedar.com or at the Company website,
www.gitennes.com. These documents constitute the 2004 Annual Report, and along
with the annual shareholders' meeting materials, have now been mailed to all
shareholders.
The Company has also filed on SEDAR an updated Annual Information Form
and a technical report entitled "Exploration Report on the Tucumachay Project,
Departments of Junin and Lima, Peru, Cuadrangulo 25-Y (Yauyos)". The technical
report was prepared by J. D. Blackwell, P.Geo, J. R. Foster, P.Geo, and G. Z.
Mosher, P.Geo, qualified persons as defined in National Instrument 43-101.
Jerry Blackwell
President
The Toronto Stock Exchange has neither approved nor disapproved the
information herein.
%SEDAR: 00003914E
For further information: Jerry Blackwell, President, Gitennes
Exploration Inc., Tel: (604) 682-7970, Fax: (604) 682-7903, email:
info@gitennes.com, www.gitennes.com
Rimfire and Barrick Sign Memorandum of Understanding
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 26, 2005--Rimfire Minerals Corporation (TSX VENTURE:RFM) - David Caulfield, President and CEO of Rimfire Minerals Corporation is pleased to announce that the Company has signed a memorandum of understanding (MOU) with Barrick Gold Corporation (TSX:ABX) to jointly explore the Kizmet Project, 95 km southeast of Atlin, in northwestern British Columbia.
"Barrick is pleased to be exploring the Kizmet project with Rimfire, and we will continue to explore for opportunities throughout Canada and around the world," states Alex Davidson, Executive Vice President of Exploration, Barrick Gold Corporation.
Rimfire acquired the core holdings of the Kizmet Project in 2003 and early 2004. Recent mapping and age-dating identified a Cretaceous-aged belt of volcanic and associated intrusive rocks distinct in age with coincident strong gold-silver-arsenic geochemical signature as highlighted in regional government geochemical silt sampling (RGS). Based on the Company's knowledge that similar Cretaceous-aged igneous rocks with the same anomalous RGS geochemical signature hosts high sulphidation gold-silver-copper mineralization at its Thorn Property, a joint venture with Cangold Limited, Rimfire acquired key targets totalling 185 sq km. Reconnaissance silt and soil geochemistry, mapping and prospecting was completed on four target areas of the Kizmet in 2004, with positive results.
"We feel the newly recognized belt has excellent potential to host high sulphidation epithermal gold systems like the Thorn, and Barrick are acknowledged world experts on these type of deposits," explained Mr. Caulfield. "We are pleased to be partnered with their exploration team."
Under the MOU, Barrick has agreed to make a CDN$75,000 cash payment to Rimfire, and to add claims totalling 680 sq. km to the property, to form a 50:50 joint venture. Barrick can increase its interest in the Kizmet project to 65% by funding exploration expenditures totalling US$1.2 million over 3 years including a commitment of US$400,000 in the first year. An additional 10% can be earned by funding exploration, at no less than US$500,000 per year, through to a positive decision to mine. At Rimfire's election, Barrick would be required to arrange Rimfire's share of project financing for which Barrick would earn an additional 5% interest.
Rimfire Minerals Corporation is an aggressive, well-financed mineral exploration company with a portfolio of highly prospective gold and silver properties in western North America. Rimfire now includes four gold producers as active partners, including the world's three largest. In addition to Barrick, Rimfire is partnered with AngloGold (USA) Exploration Inc., Newmont Mining Company, Northgate Minerals Corporation, Cangold Limited and Serengeti Resources Inc.
On behalf of Rimfire Minerals Corporation
David A. Caulfield, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Rimfire Minerals Corporation (TSX VENTURE:RFM)
Serengeti Resources gives background on Kwanika
2005-02-08 09:13 ET - News Release
Mr. David Moore reports
SERENGETI RESOURCES PROVIDES UPDATE ON KWANIKA COPPER-GOLD ACQUISITION
Serengeti Resources Inc. has provided further details on the Kwanika porphyry copper-gold property located in the Quesnel trough of central British Columbia. Serengeti originally announced the acquisition by staking of a 100-per-cent interest in Kwanika in its news release in Stockwatch Jan. 19, 2005. The property is road accessible and lies 50 kilometres south-southeast and 85 kilometres northwest of the Lorraine and Mt. Milligan copper-gold deposits in central B.C., respectively.
Previous work at Kwanika between 1966 and 1972 identified a historical resource of 36 million tonnes grading 0.2 per cent copper, based on 12 diamond and percussion drill hole intersections over an area measuring 490 metres by 300 metres (see Canadian Institute of Mining and Metallurgy Special Volume 15 (1976) table 1). Although gold was not analyzed for in the core or the cuttings, 38 surface rock samples collected by a previous operator subsequent to the drilling yielded an average grade of 150 parts per billion (0.15 gram per tonne) gold from outcrops within the resource area.
These data are historical in nature and were compiled before implementation of National Instrument 43-101 reporting standards. Investors are cautioned that recent independent verification of the data has not been performed and Serengeti has not completed any exploration to verify the historical resource estimates. Serengeti is not treating the historical estimates as National Instrument defined resources verified by a qualified person, and the historical estimate should not be relied upon. Serengeti has, however, conducted a review of the assessment reports filed with the British Columbia government and related publications, which do show maps of the distribution of the drill holes and copper intersections from each of the 12 holes. The weighted average of these intersections does agree with the reported average copper grade.
The mineralized zone is reported to consist of pyrite, chalcopyrite and rare molybdenite in altered monzonite. This zone lies within a 3,000-metre-long open-ended induced polarization geophysical anomaly. The most northerly drill hole within this anomaly, located 800 metres north of the resource area, was reported to contain 0.09 per cent copper over 76 metres.
Excellent potential exists on the property for additional porphyry copper-gold mineralization in the untested induced polarization anomaly to the north and south of previous drilling as well as to depth and to the west in the area of the reported resource. Management of Serengeti is extremely pleased with this acquisition and plans are being developed to advance exploration on this attractive prospect.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by the company's qualified person, David W. Moore, PGeo, president and chief executive officer of Serengeti Resources.
Merger of Serengeti's auditors
Due to the merger of its accounting practice, the company's auditors have changed from G. Ross McDonald, CA, to Smythe Ratcliffe Chartered Accountants, effective Feb. 1, 2005.
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