Serengeti Resources Outlines Exceptional Drill Target at Croy-Bloom Property, North-Central British Columbia
VANCOUVER, British Columbia, Sept. 27, 2018 (GLOBE NEWSWIRE) -- Serengeti Resources Inc. (SIR: TSX-V) ("Serengeti" or "the Company") reports that geophysical surveys at the 100% owned Croy-Bloom property have resulted in the discovery of a strong Induced-Polarization (IP) target. A total of 11.5 line-kilometres of IP were completed over the Croy-Bloom property in 2018. Croy-Bloom lies immediately east and south of Centerra Gold’s Kliyul Gold Copper property and is road accessible, 85 kilometres southeast of the Kemess Mine.
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The 2018 IP program, the first such survey at Soup Ridge, resulted in the discovery of a large chargeability and coincident resistivity anomaly beneath where shallow historical drilling completed by Vital Pacific in 1997 intersected several mineralized intercepts, including 47 metres grading 0.27 g/t gold and 0.61% copper in VP-97-02. Relogging of VP-97-01 by Serengeti Resources in 2014 discovered a previously unsampled diorite porphyry hosting disseminated chalcopyrite grading 3.1 g/t gold and 0.97% copper. Additionally, soil geochemical values from extensive prior sampling outline a very strong copper-gold geochemical anomaly along the entirety of Soup Ridge. Below the geochemical anomaly and depth extent of historical drilling lies a strong chargeability (>15 mV/V) and coincident resistivity (> 10,000 ohm-m) target starting approximately 250 metres below surface extending to depth and measuring roughly 500 metres in width. To see the new IP results at Soup Ridge in oblique section view, go to www.serengetiresources.com/projects/croy-bloom/
Croy-Bloom is host to numerous high-grade mineral occurrences including the Croy Vein located 2.5 kilometres east southeast of the new target area measuring 106 x 0.84 metres with prior samples grading 15.7 g/t gold and 10.5% copper. The Kli Cu-Ag Skarn zone is also notable and yields encouraging grab sample results including 0.93% copper and 3.9 g/t silver two kilometres south of the 2018 Soup Ridge target.
David W Moore, President & CEO of Serengeti Resources stated, “The new IP geophysical data coupled with a strong geochemical target and respectable historical drill results identifies a multi-parameter gold-copper drill target at Soup Ridge, and when combined with the numerous other mineralized occurrences on the property, demonstrates that Croy-Bloom is an outstanding property with high potential for discovery of a porphyry system.”
ON BEHALF OF THE BOARD
David W. Moore, P. Geo.
President, CEO and Director
Qualified Person
David W. Moore, M.Sc., P. Geo., President and CEO of Serengeti Resources Inc. and a Qualified Person as defined by NI-43-101, has reviewed and approved the technical information in this press release.
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 advancing the Kwanika copper-gold project in partnership with POSCO DAEWOO Corporation as well as exploring its extensive portfolio of 100% held properties in north-central British Columbia. A number of these other projects are available for option or joint venture and additional information can be found on the Company’s website at www.serengetiresources.com.
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 as well as a comprehensive list of risk factors 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. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates change, other than as required by law and 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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c4f3db4e-b894-45a6-a6b1-4f0870e1cf83
For further information, please contact:
Serengeti Resources Inc. Suite 520 – 800 West Pender St., Vancouver, BC, V6C 2V6
Tel: 604-605-1300 / Email: info@serengetiresources.com / Website: www.serengetiresources.com
