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Serengeti Resources Inc.
Summary
| Project: | Kwanika | |
|---|---|---|
| Deposit: | Kwanika | |
| Location: | Canada | |
| Commodities: | Copper-Gold-Silver-Molybdenum | |
| Date: | 3/8/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 8-3-2019: Serengeti Resources Inc. announces a Resource Estimation report for its Kwanika deposit at the Kwanika project. Upgraded mineral resource estimate at the project. Vancouver, B.C., March 03, 2019, Serengeti Resources Inc. (SIR: TSX-V) is pleased | |
| Resources: | (Resource, M+I): 223.6Mt @ 0.27% Cu, 0.25g/t Au, 0.87g/t Ag | |
| CP/QP: | [Resources]: Sue Bird (Moose Mountain Technical Services) | |
| ABSTRACT: | Vancouver, B.C., March 03, 2019, Serengeti Resources Inc. (SIR: TSX-V) is pleased to report the results of a recently completed independent mineral resource estimate on the Central Zone at the Kwanika Cu-Au Project in northcentral BC. The Measured and Indicated (M&I) Mineral Resource at the Central Zone is now estimated to contain 1.32 billion pounds of copper and 1.83 million ounces of gold in addition to a significant Inferred Resource at the grades and tonnes noted in Table 1 below. Importantly, the new resource estimate has identified coherent higher-grade domains within the open pit and underground M&I Mineral Resources that will be the target for PFS-stage mine planning currently underway and scheduled for completion in mid-2019. The Kwanika Project is controlled by Kwanika Copper Corporation (“KCC”), a private company jointly owned by SERENGETI RESOURCES Inc. (65%) and POSCO DAEWOO Corporation. David Moore, Serengeti President and CEO stated: “We are very pleased with the new Kwanika Central Zone Mineral Resource. Not only has the overall contained metal inventory expanded significantly, but the current model is now based on more realistic open-pit and underground mining shapes that improve our overall confidence in the project. The new Mineral Resource also shows that at higher cut off grades for the open pit and at a higher-grade confining shell for underground mineral resources, higher-grade domains remain coherent, which suggests that we should be able to target these areas as the Kwanika mine plan is developed. We will be incorporating the new figures into the on-going PFS engineering work and anticipate the potential for an expanded Central Zone open pit and bulk underground mine life”. | |
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