Serengeti Begins Drilling at Kwanika Copper-Gold-Moly Propertyadmin
Serengeti Resources Inc. (TSX VENTURE:SIR – News) reports that it has begun drilling on its Kwanika copper-gold-molybdenum property. Four zones of interest will be tested including extensions of a known mineralized zone as well as several very attractive targets outlined in a recently completed geophysical and geochemical program. Kwanika is road accessible and is located mid way between the Lorraine porphyry copper-gold deposits and the Mt. Milligan development project (206 million tonne resource grading 0.25% copper, 0.6 g/t gold). All are located in the Quesnel Trough, which includes the Kemess mine (300,000 oz./yr. gold, 75 million lbs./yr. copper).
The current drill program will consist of 2500 feet of drilling in six holes testing targets identified in the recently completed induced polarization (IP) geophysical survey on the property (See NR June 28, 2006). In addition to geophysics, the recent program included soil geochemical sampling which resulted in the identification of coincident MMI (a relatively new partial extraction technique) geochemical anomalies over the known zone and several of the new targets. Details of the drill targets to be tested in the current program are as follows:
– At least one hole is planned to test for depth extensions of the known area where twelve holes drilled by prior operators encountered copper mineralization within a 500 by 250 meter zone, including 0.32% copper over 86 meters. Surface sampling of this zone by Serengeti in 2005 returned values up to 1.07% copper, 0.4 g/t gold and 0.05% molybdenum.
– A second hole will test the northern end of the 1600 meter long IP anomaly associated with the known zone.
– At least two holes will test a second IP chargeability anomaly, measuring 450 meter by 2000 meters centered in an overburden covered area about 2.5 km north of the known zone. Importantly, sampling by Serengeti in 2005 of a mineralized outcrop located near the southern end of this anomaly returned values of 0.69% copper and 0.2 g/t gold in a composite grab sample.
– One other hole will test a coincident IP chargeability and magnetic anomaly located in the northern part of the property.
David Moore, President of Serengeti, stated: “We look forward to testing these attractive targets at Kwanika. These are big targets and any one of these has the size and strength to represent a large porphyry system.”
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.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release
David W. Moore Serengeti Resources Inc. President and CEO (604) 605-1300 (604) 899-1240 (FAX)
Investor Relations Serengeti Resources Inc. (604) 288-2850
Source: Serengeti Resources Inc.