VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 4, 2017) – Serengeti Resources Inc. (TSX VENTURE:SIR)(FRANKFURT:34S) announces that the Company’s fall exploration drilling programs on the Milligan West and UDS properties are now completed. The Company views both programs as having successfully achieved their objectives. Drill core from both Milligan West and UDS is being processed, extensively sampled and partial shipments have been submitted to the laboratory. Assay results will be reported on when available.
Milligan West Property
The Company announces that 1220 metres of drilling in three holes were completed on the Milligan West property between September 9th and September 27th and the drill has been demobilized. All three holes tested a very strong induced polarization (IP) geophysical anomaly located on the Milligan West property, four kilometres west of the currently producing Mt. Milligan Mine owned by Centerra Gold Inc. The holes encountered sulphide-bearing rocks consistent with the geophysical target being tested including intrusive rocks believed to belong to the Milligan Mine intrusive suite. Given the preliminary geological observations, it is evident that the drilling has provided a vector and direction in which to pursue further work on the property in the future which could include additional geophysics and drilling. The Milligan West property is owned 56.3% by Serengeti and 43.7% by Fjordland Exploration Inc., who are jointly funding the current program.
The Company further announces that 1140 metres of drilling in three holes were completed on the UDS property between September 16th and 28th and the drill has been demobilized. The three holes were spaced between 330 and 650 metres apart and were drilled in a roughly triangular pattern testing a strong induced polarization (IP) and flanking magnetic anomaly located in a covered valley bottom, seven kilometres northeast of the former Kemess South open pit Cu-Au mine. All three holes encountered variably to intensely altered rocks including Takla volcanics and porphyritic monzonite intrusive rocks containing locally abundant sulphides and magnetite which are thought to be (at least) partly responsible for the geophysical signatures tested. Preliminary interpretation of the lithologies encountered in all three holes and the intensity of the alteration observed, suggests they are consistent with those present in the immediate vicinity of the other copper-gold deposits in the Kemess district.
The UDS property is 100% owned by Serengeti.
“It is already very evident to us that additional drilling is warranted on the UDS property. I eagerly await the incorporation of this new drilling data including the assay results into our subsurface geological interpretation in preparation for future drilling,” stated David Moore, President & CEO of Serengeti.
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 in partnership with Daewoo Minerals Canada and exploring its extensive portfolio of properties in the highly prospective Quesnel Trough of 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.
ON BEHALF OF THE BOARD
David W. Moore, P. Geo., President, CEO and Director
Quality Assurance/Quality Control
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument NI 43-101 and reviewed by the Company’s Qualified Person, David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc.
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.
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Serengeti Resources Inc.