Serengeti Resources Inc. (SIR: TSX-V; 34S: FSE) is pleased to report the results of a geological and geochemical reconnaissance exploration program carried out on its 100% owned, UDS property, strategically located adjacent to AuRico Gold’s Kemess Mine property. The current program has outlined two large, highly prospective target areas for follow-up induced polarization (IP) geophysics to test for buried porphyry copper-gold deposits.
The UDS property is located five kilometers east of AuRico Gold’s feasibility-stage, Kemess Underground project, active Kemess East deep exploration drilling program and eight kilometers northeast of the formerly producing Kemess South mine, which produced 3 million oz of gold and more than 700 million lbs of copper over a 12 year mine life. Recently completed field work on Serengeti’s UDS property consisting of geological mapping and limited rock, soil and silt geochemistry outlined two principal target areas for further follow-up; the South Valley and August 30 areas.
The August 30 target area encompasses a number of copper-mineralized outcrops and several zones of quartz-sericite-pyrite alteration associated with high level felsic dykes at the faulted contact between Black Lake intrusives and Takla volcanics (both host rocks to the copper-gold deposits at Kemess) and overlying Hazelton volcanics. Mineralization consists of chalcopyrite and secondary copper associated with quartz-sulphide and locally magnetite veins. Ten samples collected from this area returned between 0.1% and 0.7% copper. The targeted area has a footprint of 1500 meters by 800 meters and is open into a major overburden covered valley to the north.
The South Valley target area, 1.5x3km in extent, lies at the south end of the UDS claim block and spans a major valley bottom. Work to the south by AuRico’s predecessor, Northgate Minerals outlined a strong open-ended IP chargeability anomaly associated with quartz-sericite-pyrite alteration, potentially associated with a buried porphyry system. Prior soil sampling, confirmed by Serengeti’s recent sampling, outlined a strong copper-zinc-gold anomaly on Serengeti’s ground, one km to the north of the mapped sulphide system and IP anomaly on AuRico’s ground. In addition, several skarn mineralized occurrences (one sample grading 0.26% Cu, 1.0 g/t Au) were located on a ridge immediately east of this target area
“The results of our field work at UDS this summer are very encouraging and have cost affectively identified two highly prospective target areas for future deep penetrating IP geophysical surveying on the UDS property” said David Moore, President and CEO of Serengeti. “The potential exists in either one of these areas for discovery of a high-value, buried porphyry copper-gold deposit”.
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 currently advancing its Kwanika copper-gold project and exploring its extensive portfolio of properties in the highly prospective Quesnel Trough and Stikine Arch of British Columbia. A number of these projects are available for option-joint venture and additional information can be found on the Company’s website at www.serengetiresources.com. Serengeti has 51.1 million shares issued and outstanding or 58.1 million shares on a fully diluted basis.