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Serengeti Resources Inc.
Summary
| Project: | Kwanika | |
|---|---|---|
| Deposit: | Kwanika | |
| Location: | Canada | |
| Commodities: | Copper-Gold-Silver-Molybdenum | |
| Date: | 4/3/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-4-2017: Serengeti Resources Inc. announces a PEA report for its Kwanika deposit at the Kwanika project. JV - PEA results incl. post-tax NPV(7%) CDN$191M, IRR of 16.6%, LOM of 15yrs. The Serengeti Resources Inc. Kwanika Project (the Project) involves the | |
| Resources: | ||
| CP/QP: | [Resources]: Marek Nowak (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | The Serengeti Resources Inc. Kwanika Project (the Project) involves the development of a copper-gold deposit located near Fort St. James, British Columbia, Canada. The resource evaluation work of this technical report was completed by Marek Nowak, P.Eng and Chad Yuhasz, P.Geo of SRK, Mr. Nowak and Mr. Yuhasz are independent Qualified Persons for the geological resources presented in this Technical Report. The Preliminary Economic Assessment (PEA) is based on exploration and internal Serengeti studies since 2004. The Resource model used is most recently described in an NI 43-101 Technical Report dated December 2016, which is referenced in this report. This PEA adds a revised mine plan and infrastructure design at scoping level of accuracy to the 2016 Resource by SRK. This 2017 design work is a revision to the 2013 Technical Report. The mine plan includes an integrated open pit and underground production schedule using typical operating parameters for comparable projects. For the 2013 Technical Report a conceptual evaluation by AMEC indicated that Block Caving is a suitable underground mining method as applied to this study. The AMEC evaluation is still relied upon for this update. The Kwanika property in north central British Columbia is situated in the Omineca Mining Division, approximately 140km northwest (approximately 200km by road) of Fort St. James, located on NTS map sheets 93N06 and 93N11, at latitude 55º31’ N and longitude 125º20’ W. The property is accessible year-round by four-wheel-drive vehicle, provided there is active snow removal in winter. | |
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