|Serengeti Resources Inc. - SIR.v is focused on development of its Kwanika Copper-Gold project.|
Indicated Resources are 1.23b copper and 1.66m ounces of gold plus Inferred Resources of 1.25 billion pounds of copper and 0.91 million ounces of gold. An NI 43-101 suggests a measured resource of 0.48 million gold ounces, indicated resources of 3.71 million gold and inferred 0.76 million gold ounces.
Serengeti Resources Inc. has identified a very strong induced polarization (IP) geophysical anomaly associated with a strong copper-zinc-gold soil geochemical response and favourable altered volcanic host rocks, on its 100-per-cent-held UDS property located seven kilometres northeast of the former producing Kemess South open-pit mine, now owned by Aurico Metals Inc.
On September 22, 2016 the company released News
"Serengeti Resources Inc. (SIR:TSX-V) reports the results of a recently completed drilling program on its Kwanika copper-gold resource stage project located in Quesnel Trough of British Columbia. Three holes were completed totaling 2,446 metres ("m") and included an intercept of 438m grading 0.71% Cu, 0.83 g/t Au within the Kwanika Central Zone resource shell. The second hole intersected a broad, gold anomalous interval within highly altered andesites potentially lying above a separate buried mineralized centre, some 500m to the north. The third and deepest hole essentially ended in copper-gold mineralization on the northwest edge of the Central Zone, indicating the system appears to be increasing in grade and remains open to depth in this direction.
Drill hole K-177 was designed to test; a) the up-dip and down-dip edges of the Central Zone, b) test for lateral continuity of the monzonite-hosted, supergene-enriched copper zone that caps the deposit and c) assist in resource modeling and future definition drilling of the Central Zone. K-177 met all these objectives and encountered some of the highest grades intersected in the zone to date, for instance 19.04 % Cu , 6.52 g/t Au over 3.6m within a 233.6m interval grading 1.18% Cu, 1.3 g/t Au.