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Serengeti Resources Inc.
Summary
| Project: | Kwanika | |
|---|---|---|
| Deposit: | Kwanika | |
| Location: | Canada | |
| Commodities: | Copper-Gold-Silver-Molybdenum | |
| Date: | 11/13/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 13-11-2018: Serengeti Resources Inc. announces an Exploration/Drilling Update report for its Kwanika deposit at the Kwanika project. Drilling results incl. 500.3m @ 0.66% Cu, 0.80g/t Au, 2.24g/t Ag from 25.0m. Vancouver, B.C., November 13, 2018. Serengeti | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David Moore (Internal) | |
| ABSTRACT: | Vancouver, B.C., November 13, 2018. Serengeti Resources Inc. (SIR: TSX-V) ("Serengeti" or "the Company") is pleased to report the second batch of assay results from the 2018 drilling campaign completed at the Kwanika Project in north-central BC. The fully funded 2018 drilling program is part of the ongoing Kwanika Pre-Feasibility Study (“PFS”) scheduled for completion in mid-2019, as described in Serengeti Resources’ press release dated September 11th, 2018. Kwanika Copper Corporation (“KCC”), is a private company jointly owned by SERENGETI RESOURCES Inc. (65%) and POSCO DAEWOO Corporation (35%). “These most recent results continue to demonstrate the terrific potential of the Kwanika project. The current holes encountered generally higher grades than we would have predicted from the prior PEA resource model and further demonstrate that our strategic objective of increasing both the resource grade and tonnage of the Central Zone at Kwanika is a reasonable objective of the current program. Furthermore, the holes in the current release demonstrate the potential to expand the open pit-able portion of the deposit” stated David W Moore, President & CEO of Serengeti and President of Kwanika Copper Corp. DDH-K-182 was drilled in a southerly direction and was planned to test the south wall of the potential open pit and extend through the potential tall stope to the underground extraction level. K-182 encountered a significant interval of strongly quartz-chalcopyrite veined monzonite from sub-crop beneath a layer of glacial till within the proposed pit as well as a substantial gold-copper rich interval within the potential underground development before terminating at or near the potential extraction level. The hole intersected mineralization within the current PEA mining shapes over a vertical range of 475 m and at the mid point of the tall stope was 45m distant from previously released hole K-180. | |
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