Serengeti Reports a Significant Expansion to its UDS Property
22 Gennaio 2014 - 2:30PM
Marketwired
Serengeti Reports a Significant Expansion to its UDS Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 22, 2014) -
Serengeti Resources Inc. (TSX-VENTURE:SIR)(FRANKFURT:34S) is
pleased to report the acquisition of additional ground at its
strategically located UDS property, lying immediately east of
AuRico Gold's Kemess Underground project in northern BC.
The UDS property is located five kilometers to the east of the
proposed Kemess Underground gold-copper project where AuRico Gold
is investigating the feasibility of recovering 1.7 million ounces
of gold from a Probable Reserve of 100Mt grading 0.56 g/t Au, 0.28%
Cu deposit by block cave underground mining methods. UDS was
initially staked by Serengeti in August, 2013 and has subsequently
been expanded by staking and outright purchase of several third
party claims. The UDS block now comprises 2,181 hectares and covers
a large area of prospective geology, several epithermal
poly-metallic mineral showings and a number of untested geophysical
trends. For current maps of the UDS property and target areas visit
UDS webpage. There is strong evidence that the Kemess copper-gold
system and its easterly extensions at Ora and Altus Zones
discovered in 2007 is controlled by and elongated along a 070°
trending favourable mineralized corridor. Subsequent NW-SE oriented
faults appear to offset this corridor laterally and vertically
towards the UDS claims located to the east. This structural
complexity preserves or obscures highly prospective areas of
overlying stratigraphy and glacial cover, both with excellent
potential on Serengeti's UDS block for moderate to deeply buried
high-grade copper-gold deposits.
A government sponsored airborne magnetic and radiometric survey
conducted in 2004 identified several pronounced radiometric
anomalies which may reflect potassic alteration associated with the
gold-silver-polymetallic epithermal mineral showings or to related
underlying porphyry style mineralization occurring within the UDS
claims. This survey is also useful in structural reconstruction of
this geologically complex area, which contains several potential
target trends, including an untested, open-ended, IP geophysical
anomaly immediately adjoining and trending onto the claim block.
Very limited historical drilling has been done at UDS, with only
seven shallow holes totaling less than 400 meters.
"UDS is a large highly prospective property located adjacent to
a major deposit and we look forward to getting boots on the ground
here," stated Serengeti President & CEO, David Moore. "A
thorough compilation of prior exploration in the area is currently
in progress. This will be followed by geological mapping in the
2014 field season, aimed at targeting deep penetrating IP
geophysics and eventual drilling to test for a buried porphyry
system."
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. 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 58.4 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. A comprehensive list of risk factors is provided in the
Company's Annual Information Form ("AIF") for the year ended
February 28, 2013 and filed on SEDAR on July 15, 2013. Readers are
further advised not to place undue reliance on forward-looking
statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Investor Relations:Paradox Public RelationsTel: 514-341-0408Toll
free (in North America) 1-866-460-0408Email:
info@paradox-pr.caSerengeti Resources Inc.1700-750 West Pender
St,Vancouver, BC V6C 2T8Tel: 604-605-1300Email:
info@serengetiresources.comWebsite: www.serengetiresources.com
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