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.
