Posts Tagged Serengeti Resources
Serengeti Selects Promising 2009 Exploration Targets
Posted by Admin in Corporate Updates, News Releases on January 26th, 2009
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.
Serengeti Reports Results from Croy Bloom; Followup Drilling Planned
Posted by Admin in Drill Results, News Releases on January 21st, 2009
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.

