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Message: Results From Croy Bloom; Followup Drilling Planned
| January 21, 2009 | |
| Serengeti Reports Results From Croy Bloom; Followup Drilling Planned | |
|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2009) - Serengeti Resources Inc. (TSX VENTURE:SIR) reports the results of a drilling program completed by Newcrest Mining BC Limited on the Serengeti's Croy Bloom property located in the Quesnel Trough of north-central British Columbia. Four holes totaling 2,473 meters were drilled testing several large coincident geochemical and geophysical anomalies in September/October 2008. Newcrest completed this first phase program as a part of a multi-year option agreement under which Newcrest may spend $10.0 million to earn a 51% joint venture interest in Serengeti's Croy Bloom/Davie Creek property. Highlights of the drill program are as follows and summary results are provided in the table below. - Two holes, (CBB001 and CBB002), drilled on the Bloom Cirque target intersected locally strongly altered andesite, diorite, monzodiorite and breccias hosting widespread moderate copper and weaker gold mineralization from surface to over 680m in depth. The broadest mineralized interval, 136 meters grading 0.10% Cu was encountered in hole CBB001. Hole CBB002 drilled elsewhere in the same target intersected several narrower intervals including; 26 meter grading 0.12% copper and a 5 meter interval near the bottom of the hole grading 0.22% copper, trace gold. - One hole, (CBR001), testing the Raven target intersected locally pyritic andesite and diorite with alteration intensity increasing down-hole. The highest values encountered include 1.02% copper over a meter at 327 meters and 2.9 g/t gold over 2 meters at 380 meters. - A hole (CBD001), on the Davie Creek property encountered several narrow intercepts of molybdenite mineralization including 0.188% Mo over 0.3 meters and 0.056% Mo over 2 meters indicating that the hole was drilled peripheral to the Davie Creek molybdenum zone. In providing the results, Newcrest has indicated that they intend to conduct a follow up drill program in the summer of 2009. --------------------------------------------------------------------------
Croy Bloom/Davie Creek Significant Analytical Results
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From To Interval Copper Gold Silver Mo Orientation
Hole (m) (m) (m) % g/t g/t % dip/az
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192.0 202.0 10.0 0.05 0.17 0.4 -
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235.0 243.0 8.0 0.08 0.10 0.6 -
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CBB001 302.0 438.0 136.0 0.10 0.03 0.3 - -60 degrees/
----------------------------------------------------- 50 degrees
Incl. 438.0 10.0 0.18 0.09 0.3 -
428.0
-----------------------------------------------------
507.0 508.0 1.0 0.90 0.62 3.0 -
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26.0 30.0 4.0 0.12 0.01 0.6 0.001
-----------------------------------------------------
67.0 68.0 1.0 0.16 0.01 0.7 0.001
-----------------------------------------------------
117.0 143.0 26.0 0.12 0.01 0.2 0.001
-----------------------------------------------------
198.0 226.0 28.0 0.10 0.02 0.3 - -60 degrees/
CBB002 ----------------------------------------------------- 230 degrees
342.0 356.0 14.0 0.10 0.01 0.1 -
-----------------------------------------------------
380.0 383.0 3.0 0.17 0.01 0.2 0.002
-----------------------------------------------------
670.0 672.0 2.0 0.08 0.63 0.4 -
-----------------------------------------------------
681.0 686.0 5.0 0.22 0.05 - -
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118.0 124.8 6.8 0.02 0.29 0.4 -
-----------------------------------------------------
275.3 277.1 1.8 0.76 0.32 5.6 0.003
-----------------------------------------------------
327.0 328.0 1.0 1.02 0.19 10.1 -
-----------------------------------------------------
CBR001 351.6 352.8 1.2 0.32 0.29 5.1 - -60 degrees/
----------------------------------------------------- 270 degrees
380.0 382.0 2.0 - 2.90 0.5 -
-----------------------------------------------------
458.0 460.0 2.0 0.01 0.48 0.8 -
-----------------------------------------------------
499.0 501.0 2.0 0.01 0.64 1.3 -
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487.7 488.0 0.3 - 0.01 1.5 0.188 -58 degrees/
CBD001 ----------------------------------------------------- 225 degrees
506.0 508.0 2.0 - 0.01 3.5 0.056
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Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of exploration success. The Company is focused on the advancement of its Kwanika copper-gold project and on the discovery of copper-gold deposits on its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia. Additional information on Serengeti's projects can be found on the Company's website at www.serengetiresources.com. Serengeti is well funded to advance its projects with a working capital position of approximately $9.2 million. Quality Assurance/Quality Control Sample analysis for the current program was completed at Global Discovery Lab in Vancouver, BC. A comprehensive quality assurance/quality control program including blanks and standards formed part of the sampling protocol in addition to the laboratory's own quality assurance program. Individual copper values exceeding 2000ppm and gold values exceeding 100ppb were assayed and these intervals combined with geochemical determinations on the balance of the samples, with all results reported in % and g/t respectively. This procedure will generally result in an understatement of the average grades. The field program was supervised by John Woodman CPG, Senior Geologist for Newcrest Mining BC Limited. 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. |
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