Serengeti reports on drilling plans for its highly attractive Mil gold property and as well as on several of its other properties located in the Quesnel Trough of north-central British Columbia.
Serengeti’s Board of Directors has approved a $2.7 million exploration program for 2009 which will fund diamond drilling on the Mil project and rotary drilling on at least four new targets at Kwanika, at the Osilinka project and on two QUEST JV properties. Surface exploration work will also be conducted on other properties in the Company’s extensive portfolio.
Specifics of the new targets to be tested are as follows:
- Mil:
Serengeti has assumed management of the 50-50% joint venture with Fjordland Exploration Inc., which includes the Mil property, located 15 km west of Mt Milligan. A three hole, 900 meter drill program to test a high priority induced polarization (IP), geophysical and gold-in-glacial till anomaly is planned. The drilling permit has been received and drilling is scheduled for early March 2009. - Kwanika:
Regional exploration has identified a very strong Mobile Metal Ion (MMI) copper-molybdenum soil anomaly associated with an IP and magnetic anomaly 10 km south of the Kwanika Central zone and a second copper-gold-silver anomaly 15 kilometers further south. In addition, weaker but distinct MMI copper soil anomalies were also identified coincident with the Central and South zones at Kwanika as well as over a potential extension of the South zone. Rotary drilling of these targets is planned for the summer of 2009. A calculation of the Kwanika deposit resource is underway, with results expected to be available within one month. - Osilinka:
The property is located in a covered area 35 km north of Kwanika. Geochemical surveying in 2008 identified a strong copper-molybdenum-silver anomaly directly coincident with a four square kilometer IP polarization and magnetic geophysical anomaly in a geological setting very similar to Kwanika. Rotary drilling is planned for the summer of 2009. - QUEST Properties:
High quality multi parameter targets have been identified on several QUEST JV properties, in addition to Mil. One target has a very strong MMI copper soil geochemical anomaly coincident with a prominent IP chargeability and magnetic anomaly. Rotary drilling and/or trenching is planned for summer 2009.
