Posts Tagged Newcrest Mining

Serengeti Reports Results from Croy Bloom; Followup Drilling Planned

Serengeti Resources  reports the results of a drilling program completed by Newcrest Mining BC Limited on the Serengeti’s Croy Bloom property located in the Quesnel Trough of north-central British Columbia.

Four holes totaling 2,473 meters were drilled testing several large coincident geochemical and geophysical anomalies in September/October 2008. Newcrest completed this first phase program as a part of a multi-year option agreement under which Newcrest may spend $10.0 million to earn a 51% joint venture interest in Serengeti’s Croy Bloom/Davie Creek property. Highlights of the drill program are as follows and summary results are provided in the table below.

  • Two holes, (CBB001 and CBB002), drilled on the Bloom Cirque target intersected locally strongly altered andesite, diorite, monzodiorite and breccias hosting widespread moderate copper and weaker gold mineralization from surface to over 680m in depth. The broadest mineralized interval, 136 meters grading 0.10% Cu was encountered in hole CBB001. Hole CBB002 drilled elsewhere in the same target intersected several narrower intervals including; 26 meter grading 0.12% copper and a 5 meter interval near the bottom of the hole grading 0.22% copper, trace gold.
  • One hole, (CBR001), testing the Raven target intersected locally pyritic andesite and diorite with alteration intensity increasing down-hole. The highest values encountered include 1.02% copper over a meter at 327 meters and 2.9 g/t gold over 2 meters at 380 meters.
  • A hole (CBD001), on the Davie Creek property encountered several narrow intercepts of molybdenite mineralization including 0.188% Mo over 0.3 meters and 0.056% Mo over 2 meters indicating that the hole was drilled peripheral to the Davie Creek molybdenum zone.

In providing the results, Newcrest has indicated that they intend to conduct a follow up drill program in the summer of 2009.

Croy Bloom/Davie Creek Significant Analytical Results

Hole

From (m)

To (m)

Interval (m)

Copper %

Gold g/t

Silver g/t

Mo %

Orientation dip/az

CBB001

192.0

202.0

10.0

0.05

0.17

0.4

-60º/50 º

235.0

243.0

8.0

0.08

0.10

0.6

302.0

438.0

136.0

0.10

0.03

0.3

Incl. 428.0

438.0

10.0

0.18

0.09

0.3

507.0

508.0

1.0

0.90

0.62

3.0

CBB002

26.0

30.0

4.0

0.12

0.01

0.6

0.001

-60º/230º

67.0

68.0

1.0

0.16

0.01

0.7

0.001

117.0

143.0

26.0

0.12

0.01

0.2

0.001

198.0

226.0

28.0

0.10

0.02

0.3

342.0

356.0

14.0

0.10

0.01

0.1

380.0

383.0

3.0

0.17

0.01

0.2

0.002

670.0

672.0

2.0

0.08

0.63

0.4

681.0

686.0

5.0

0.22

0.05

CBR001

118.0

124.8

6.8

0.02

0.29

0.4

-60º/270º

275.3

277.1

1.8

0.76

0.32

5.6

0.003

327.0

328.0

1.0

1.02

0.19

10.1

351.6

352.8

1.2

0.32

0.29

5.1

380.0

382.0

2.0

2.90

0.5

458.0

460.0

2.0

0.01

0.48

0.8

499.0

501.0

2.0

0.01

0.64

1.3

CBD001

487.7

488.0

0.3

0.01

1.5

0.188

-58º/225º

506.0

508.0

2.0

0.01

3.5

0.056

About Serengeti
Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of exploration success. The Company is focused on the advancement of its Kwanika copper-gold project and on the discovery of copper-gold deposits on its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia. Serengeti is well funded to advance its projects with a working capital position of approximately $9.2 million.

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