Milligan West Drill Program Identifies Target for Follow-up
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 20, 2017) - Serengeti Resources Inc. (TSX
VENTURE:SIR)(FRANKFURT:34S) ("Serengeti" or "the Company") announces results for drilling completed on the jointly-owned
Milligan West property (Serengeti: 56.3%, Fjordland Exploration Inc: 43.7%; see news release NR 2017-12, October 4th, 2017),
located 75 kilometres northwest of Fort St. James in north-central British Columbia, and four kilometres west of the currently
producing Mt. Milligan copper-gold mine.
Drilling at Milligan West in 2017 totalled 1,256 metres in three holes targeting zones identified by a 2016
Induced-Polarization (IP) survey, earlier property-wide geophysical surveys and two short drill holes completed by previous
workers. Encouraging results were intersected within skarn and feldspar-porphyry dykes, including 1.12 g/t gold, 0.70 g/t silver
and 0.14% copper over 2.0 metres in MW-17-02, with maximum gold and silver values reaching 1.57 g/t over 1.5 metres, and 33.50
g/t over 3.1 metres, respectively.
The 2017 Milligan West program added significantly to the understanding of the local geology and has led to the identification
of an untested near-surface geophysical target area approximately one kilometre to the north of the 2017 drill holes. The newly
identified geophysical target area is coincident with historical copper-, zinc- and gold-in-soil geochemical anomalies, which lie
directly on trend with the Mt. Milligan - Heidi Lake sulphide system to the east. Although the nature of mineralized intercepts
from 2017 are discontinuous, the program confirmed that mineralization at Milligan West is associated with hydrothermal intrusive
activity, and Serengeti remains optimistic in the potential for the property to host a significant mineralized system.
Moving forward, Serengeti plans to potentially expand the IP survey coverage and test the refined target area with shallow
drill holes. To view more information on the Milligan West property, please visit the Company's website: https://www.serengetiresources.com/projects/milligan-west/
Notable intersections from the 2017 drilling program as well as associated geological observations are included in the table
below.
| HoleID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Geological Context |
| MW-17-01 |
164.0 |
167.0 |
3.1 |
0.23 |
33.50 |
0.01 |
Sericite-carbonate-quartz altered feldspar-porphyry dyke |
| |
295.0 |
301.1 |
6.1 |
0.35 |
0.25 |
0.01 |
Sericite-chlorite-carbonate-quartz altered argillite |
| |
371.2 |
374.3 |
3.0 |
0.38 |
0.10 |
0.01 |
Sericite-chlorite-carbonate-quartz altered ash tuff |
| MW-17-02 |
160.0 |
192.0 |
32.0 |
0.10 |
0.37 |
0.01 |
Chlorite-sericite altered agglomerate |
| including |
187.8 |
189.3 |
1.5 |
1.57 |
0.30 |
0.01 |
Quartz-sericite-chlorite altered feldspar porphyry dyke |
| |
264.3 |
267.3 |
3.0 |
0.03 |
15.60 |
0.02 |
Sericite-chlorite-carbonate-quartz altered argillite |
| |
300.0 |
302.0 |
2.0 |
1.12 |
0.70 |
0.14 |
Chlorite-epidote-carbonate skarn altered ash tuff |
| MW-17-03 |
No Significant Intercepts |
|
Milligan West 2017 Drill Results
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 POSCO Daewoo
Corporation 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
Sample analysis for the current program was completed at Activation Laboratories Ltd. in Kamloops, BC and Thunder Bay,
Ontario. A quality assurance/quality control program including blanks and standards form part of the sampling protocol in
addition to the laboratory's own quality assurance program. The field program was supervised by Serengeti Resources Inc. staff
and the technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set
out in National Instrument 43-101, and reviewed by the Company's qualified person, David W. Moore, P. Geo., President and CEO of
Serengeti Resources Inc.
Cautionary Statement
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.