Serengeti Identifies Copper-Gold Mineralization, Geochemical and Geophysical Anomalies on the RCN property
Vancouver, B.C. / TNW-ACCESSWIRE / September 3, 2014 / Serengeti Resources Inc. (SIR: TSX-V; 34S: FSE) is pleased to announce the results of a recently completed field program on its 100% owned RCN property, located in northwestern British Columbia. Rock sampling returned additional good-grade copper-gold mineralization from the property, plus a limited IP geophysical survey identified three open-ended chargeability anomalies and soil sampling suggests that a target of interest remains open and may extend beyond the area of current work. These encouraging results warrant additional work
Highlights from the rock sampling program are shown in Table 1. The first four samples are from an area of mineralized quartz-sericite-pyrite alteration first identified in 2013 and returned values grading up to 0.97% Cu and 4.13 g/t Au in separate grab samples. The fifth sample, a mineralized boulder grading 0.44% Cu, 2.69 g/t Au is located 250 meters upstream from this first mineralized area, and the final sample containing 0.41% Cu is from a boulder coincident with one of the areas of IP chargeability described below.
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|Description |Sample Type |Cu %|Au g/t|
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|Quartz-sericite-pyrite altered volcanic|Outcrop grab|0.97|1.38 |
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|Quartz-sericite-pyrite altered volcanic|Outcrop grab|0.06|4.13 |
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|Quartz-sericite-pyrite altered volcanic|Outcrop grab|0.60|1.37 |
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|Quartz-sericite-pyrite altered volcanic|Outcrop grab|0.40|0.61 |
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|Quartz-sericite-pyrite altered volcanic|Boulder |0.44|2.69 |
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|Pyritic intrusive |Boulder |0.41|- |
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Table 1. RCN Rock Sampling Highlights 2014
A limited IP geophysical survey was completed as a part of the current program. Three open-ended chargeability anomalies were identified, generally flanking aeromagnetic highs and two of them are located in generally lower resistivity areas so may represent formational anomalies rather than primary target areas. The principal copper-gold occurrence described above coincides with a moderately resistive and weakly chargeable zone. Interestingly, soil sampling conducted in 2014 located a copper anomaly which is open to the south on the property beyond the area of current work.
The results of the current relatively limited field program indicate that more work is warranted on the property up to and including future drill testing.
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 and Stikine Arch 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 58.1 million shares on a fully diluted basis.
Quality Assurance/Quality Control
Sample analysis for the current program was completed at Acme Analytical Laboratories Ltd. in Vancouver, BC. The laboratory has a rigorous internal QA/QC program sufficient for the stage of this project. The field program was supervised by Serengeti Resources Inc. staff and 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, 2014 and filed on SEDAR on July 29, 2014. 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.
For further information, please contact:
Investor Relations: Paradox Public Relations Tel: 514-341-0408 Toll free (in North America) 1-866-460-0408
Email info@paradox-pr.ca
Serengeti Resources Inc. 1700-750 West Pender St, Vancouver, BC V6C 2T8
Tel: 604-605-1300 Email: info@serengetiresources.com Website: www.serengetiresources.com
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