Serengeti Announces Start of Drill Program at Kwanika, Sampling Results from Valleau Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/21/12 -- Serengeti Resources Inc. (TSX VENTURE: SIR)(FRANKFURT: 34S) reports that it has initiated a follow-up drill program at Kwanika testing several targets in the vicinity of the Central copper-gold Zone as well as a high priority geophysical target located 15 kilometers to the south on the Kwanika property. Results from a geochemical survey completed earlier in the summer on the Valleau property which outlined a 1600m long, high contrast gold-copper soil anomaly are also reported.
At Kwanika, drilling has recently started on a 1500 meter, 4 to 5 hole program. Specific targets include: one hole testing a strong induced polarization (IP) chargeability anomaly identified on two widely separated lines with adjacent copper-gold soil anomalism, located 15 kilometers south of the principal deposit area; two holes testing a gap in the drilling north of the Central Zone where prior holes have intersected good grade mineralization but where widely spaced drill density has limited the resource estimate; and one to two holes testing a newly reinterpreted IP geophysical anomaly that extends up to 800 meters north of the current Central Zone resource area.
On the Valleau property, located 20 kilometers east of Kwanika, soil sampling has extended a high contrast gold and copper anomaly to over 1600 meters in length by up to 800 meters in width. The strongest part of this anomaly lies in an overburden covered area east of a partially delineated open-ended IP anomaly where prior trenches have returned up to 1.0 g/t Au over 10 meters. This is an attractive target that could rapidly be upgraded to drill target status with limited additional IP geophysics.
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 of British Columbia and conducting exploration for gold-silver deposits in Mexico. Additional information on Serengeti's projects can be found on the Company's website at www.serengetiresources.com. Serengeti is well funded to advance its projects with a current working capital position of approximately $2.5 million. Serengeti has 51.1 million shares issued and outstanding or 59.4 million shares on a fully diluted basis.
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. Readers are 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.
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Serengeti Resources Inc.
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