Serengeti Identifies IP Anomaly Associated with High Grade Copper-Gold Veins at Croy Bloom, Acquires Adjacent Prospective Gro...
15 Settembre 2011 - 2:30PM
Marketwired
Serengeti Resources Inc. (TSX VENTURE: SIR)(FRANKFURT: 34S) is
pleased to report that it has received results from an Induced
Polarization (IP) survey completed at the Croy Bloom project in
northern British Columbia. The survey has identified a broad, 200
meter wide, IP chargeability anomaly associated with several
narrow, exceptionally high grade copper and gold bearing massive
sulfide veins at the Croy showing. In addition the Company has
secured some adjacent highly prospective ground covering additional
copper-gold showings.
Serengeti believes that the veins at the Croy showing and other
high grade showings in the area potentially represent the surface
expression of a concealed porphyry copper-gold system. The most
significant of these veins has been identified over a 106 by 0.84
meter area and is reported to grade 10.5% Cu, 15.7 g/t Au (see NR
21010-06). Other important showings in the target area include the
Soup and Saddle Gully showings, located 1.6 km to the west.
Historical drill intercepts at the Soup and Saddle Gully Zone are
reported to include 22 m grading 1.1 g/t Au, 0.39% Cu hosted within
a sub-horizontal, chlorite-magnetite horizon, and 5 m grading 12
g/t Au within a silicified shear zone. Serengeti has acquired
additional claims in this area through a purchase agreement with a
local prospector, securing this highly prospective target area.
The Croy Bloom property is located within the Quesnel Trough, 85
km south of Northgate Minerals' formerly producing Kemess Mine.
Past exploration completed by Serengeti and other operators has
identified several large porphyry copper-gold targets within the
12,750 Ha property. In addition, prior drilling has partially
defined a significant stockwork-molybdenum system in the Davie
Creek area on the property with the best historic intercept grading
0.072% Mo over 203 meters.
The source of significant copper and gold mineralization at the
Croy, Soup and Saddle Gully showings is thought to be a buried
porphyry copper-gold system. These showings outline a target area
approximately 1.6 km by 0.8 km in extent. Serengeti plans to follow
up this attractive copper-gold target with a series diamond drill
holes in the following season.
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 of British
Columbia and has initiated exploration for gold-silver deposits in
Mexico. 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 $5.3 million, which includes $0.6
million receivable from the B.C. government's METC program.
Serengeti has 51.1 million shares issued and outstanding or 58.9
million shares on a fully diluted basis.
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.
ON BEHALF OF THE BOARD
David W. Moore, P. Geo., President, CEO and Director
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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Paradox Public Relations Investor Relations
514-341-0408 or (toll free in North America) 1-866-460-0408
info@paradox-pr.ca Serengeti Resources Inc. 604-605-1300
www.serengetiresources.com
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