Serengeti Resources Inc.: B.C. Copper Gold Prospect Staked
08:30 EDT Wednesday, August 25, 2004
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 25, 2004) - David Moore, President and CEO of Serengeti Resources Inc. (TSX-V: SIR), reports that the Company has staked the Choo Property, a road-accessible 1500 hectare porphyry copper-gold prospect 70 km north of Fort St. James, B.C. and 25 km west of Placer Dome's Mt. Milligan deposit (408 million tonnes of 0.19% copper and 0.44grams/tonne gold).
A prior operator carried out mapping, sampling, airborne and ground geophysics on the claims - including shallow penetrating induced polarization (IP) - and drilled approximately 1,600 meters in 16 short holes on the property between 1989 and 1992. This work outlined a 1.0 km by 4.5 km coincident IP chargeability and magnetic anomaly in an area of extensive but shallow cover. In the southwest corner of the IP anomaly, local potassium-feldspar alteration with pyrite and minor chalcopyrite (possibly indicative of a mineralized center) was reported, coincident with a copper soil anomaly greater than one square km in extent. Prior grab sampling of a mineralized occurrence in the northwest corner of the IP anomaly returned up to 1.6% copper and 4.9 grams/tonne gold. Partial data only are available from the prior drilling, but are sufficient to indicate the presence of anomalous copper values (e.g. 21 meters @ 0.15% copper and 82 meters @ 0.06% copper) in the system.
Mr. Moore stated: "This new acquisition is a further step in Serengeti's strategy of acquiring high potential exploration targets and brings to five the number of properties controlled by the company in the porphyry copper-gold belt of north-central B.C. This belt is viewed as having excellent scope for additional large, good grade discoveries as demonstrated by the recent successes at Kemess North and Mt. Polley. The data on this newly acquired property show a large, poorly exposed IP and magnetic anomaly in which intriguing copper-gold values are present. Excellent potential for an economic discovery exists within this shallowly-tested porphyry system."
Serengeti intends to acquire and compile the data from previous exploration on the claims prior to designing a follow-up exploration program that could consist of deeper penetrating IP geophysics and eventual drilling. The property is characterized by gentle topography, such that field work will be possible during much of the year.
AI
