NEwsMarketwire
Serengeti Resources Inc.
October 2, 2007 - 08:45:24 AM
Serengeti Continues to Intersect Good Grade at Kwanika Including 159 Meters of
0.55% Copper, 0.44 g/t Gold
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 2, 2007) - Serengeti Resources
Inc. (TSX VENTURE:SIR) is pleased to report assays from the next batch of
holes from its 100% owned Kwanika porphyry copper-gold property, where a major
follow-up drill program is underway. Kwanika is located in the prolific
Quesnel Trough of north-central British Columbia.
"We continue to encounter excellent grades near surface in these recent holes,
particularly in gold," stated Serengeti President and CEO, David Moore. "These
holes demonstrate that the system remains open for expansion to the east and
there is also growing evidence for an extensive zone of more moderate grade
mineralization at depth. Drilling continues with two drills turning on a 24
hour basis in a program that should be delivering results out through the end
of the year," stated Moore.
K-07-30 to K-07-34 Significant Results
-------------------------------------------------------------------------
Inter- Copper Gold Orient-
To val Copper Gold Silver Equiv. Equiv. ation
Hole From (m) (m) (m) % g/t g/t %(i) g/t(i) (dip/az.)
-------------------------------------------------------------------------
K-07-30 530.5 681.5 151.0 0.19 0.21 0.4 0.32 0.54 -80
degrees
to 270
degrees
-----------------------------------------------------
Incl.
(Partial) 600.8 632.7 31.9 0.30 0.32 0.7 0.49 0.85
-------------------------------------------------------------------------
K-07-31 25.1 183.7 158.6 0.55 0.44 1.1 0.82 1.40 Vertical
-----------------------------------------------------
Incl.
57.0 86.0 29.0 0.92 1.44 1.9 1.77 3.05
-----------------------------------------------------
348.1 492.9 144.7 0.30 0.32 0.9 0.49 0.85
-------------------------------------------------------------------------
K-07-32 43.9 106.7 62.8 0.43 0.70 1.3 0.85 1.46 -60
degrees
to 270
degrees
-----------------------------------------------------
Incl.
43.9 58.1 14.2 1.12 1.90 3.5 2.26 3.87
-----------------------------------------------------
128.0 164.5 36.5 0.46 0.92 1.4 1.01 1.73
-----------------------------------------------------
242.0 332.6 90.6 0.28 0.17 0.7 0.38 0.66
-------------------------------------------------------------------------
K-07-33 28.4 152.5 124.1 0.22 0.62 0.6 0.59 1.01 Vertical
Incl.
108.6 131.6 23.0 0.66 1.59 1.9 1.60 2.75
-----------------------------------------------------
195.6 398.8 203.2 0.33 0.38 1.0 0.56 0.96
-----------------------------------------------------
Incl.
195.6 340.8 145.2 0.38 0.48 1.1 0.67 1.15
-------------------------------------------------------------------------
K-07-34 37.2 242.5 205.3 0.27 0.31 0.5 0.45 0.78 Vertical
Incl.
37.2 125.5 88.3 0.31 0.56 0.7 0.64 1.10
-----------------------------------------------------
Incl.
88.6 125.5 36.9 0.55 0.99 1.5 1.14 1.96
-----------------------------------------------------
295.0 411.8 116.8 0.20 0.14 0.8 0.29 0.49
-------------------------------------------------------------------------
(i)Copper and Gold Equivalent calculations use metal prices of US$1.50
for copper, US$600/oz for gold and US$8.00/oz for silver and both
assume metallurgical recoveries and net smelter returns of 100%.
Copper (Cu) EQ equals Cu% + (Au g/t x 12.86/22.06) +
(Ag g/t x 0.171/22.06). Gold (Au) EQ equals Au g/t +
(Cu% x 33.09/19.29 + Ag g/t x 8.00/600).
The four new holes reported above, K-07-31 to 34 were drilled in the
east-central part of the main zone. New results are also provided for the
deeper portion of hole K-07-30 which was drilled in the south-eastern part of
the prospect (to view that attached map please click on:
https://www.ccnmatthews.com/docs/sir1002map.jpg).
- Hole K-07-31: Drilled vertically on Section 300N (formerly 750N), 50 meters
east of the collar of K-07-20 and intersected a near surface, high grade zone
carrying 0.55% Cu, 0.44 g/t Au over 158.6 meters from the base of overburden,
as well as a deeper zone of mineralization grading 0.30% Cu, 0.32 g/t Au over
144.7 meters.
- Holes K-07-32 and 33: Drilled on Section 350N (formerly 800N). K-07-32, an
angled hole drilled westerly across the zone encountered three mineralized
intervals including a high grade, near surface intercept grading 0.43% Cu,
0.70 g/t Au over 62.8 meters from the base of overburden. K-07-33 a vertical
hole collared 50 meters to the west of K-32 encountered a gold dominant zone
from the base of overburden, grading 0.22% Cu, 0.62 g/t Au over 124.1 meters,
as well as a deeper zone grading 0.38% Cu, 0.48 g/t Au over 145.2 meters.
- Hole K-07-34: An angled hole drilled on Section 400N (formerly 850N), 150
meters east of prior hole K-07-25, intersected mineralization from the base of
overburden grading 0.31% Cu, 0.56 g/t Au over 88.6 meters and a deeper zone
grading 0.20% Cu, 0.14 g/t Au over 116.8 meters.
- Hole K-07-30: This hole was previously reported (see News Release dated
September 6, 2007) with the currently reported final assay results coming from
the deeper portion of the hole. A 151 meter mineralized interval was
encountered deep in the hole with a better grade sub-interval assaying 0.30%
Cu, 0.32 g/t Au over 31.9 meters.
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