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Enter Symbol
or Name
USA
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Serengeti Resources Inc
Symbol SIR
Shares Issued 85,889,621
Close 2017-09-18 C$ 0.23
Market Cap C$ 19,754,613
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Serengeti Resources moves drill to UDS property

2017-09-19 08:15 ET - News Release

Mr. David Moore reports

SERENGETI ANNOUNCES DRILL MOBILIZATION TO UDS PROPERTY & START OF DRILLING AT MILLIGAN WEST PROJECT

A drill has been mobilized for Serengeti Resources Inc.'s maiden exploration drilling on the UDS property. Drilling will include testing a very strong induced polarization (IP) geophysical anomaly associated with a strong copper-zinc-gold soil geochemical response and favourable altered volcanic host rocks on its 100-per-cent-held UDS property, located seven kilometres northeast of the former producing Kemess South open-pit mine, now owned by AuRico Metals Inc. Kemess produced three million ounces of gold and 360,000 tonnes of copper between 1997 and 2011 (1). Serengeti views the target at UDS as having the size and intensity to host a significant sulphide system at relatively shallow depth.

Three holes, totalling approximately 1,200 metres are currently planned as an initial test and the program may be expanded dependent on drilling progress, weather and results.

Serengeti first identified the target at UDS in the course of a ground geophysical survey along four widely spaced lines on the property in the fall of 2016. Three of the lines covered valley bottom located along a major structure northeast of the Kemess south open pit and east of the Kemess underground and Kemess east deposits. The IP chargeability zone crosses the UDS property boundary at depth from the south where prior mine operator Northgate Minerals identified a deep, fairly weak anomaly associated with a small body of Black Lake monzonite which is the host to all three copper-gold deposits in the district. The IP chargeability anomaly increases in strength to the northeast reaching values of 40 millivolts/volt and comes close to surface on the northernmost line where it remains open for expansion. The currently identified extent of the target is approximately 900 by 1,500 metres. Please go to the UDS property section of company's website to view images of the location and IP stacked sections of the anomaly. Soil sampling by a prior owner in 2004 outlined an area of elevated copper-zinc-gold geochemistry coincident with and immediately upslope of the newly identified geophysical target. Limited sampling by Serengeti staff in 2014 in the target area, substantiated the original soil anomaly and identified pyritic Takla volcanics, which lie directly above the three nearby copper-gold deposits. Furthermore, rock sampling, trenching and very shallow drilling by an earlier owner in 1989, 600 metres farther to the north of the current target area identified scattered gold-silver-polymetallic mineralization which is commonly developed peripheral to, or above porphyry systems.

(1) AuRico Metals Inc., Kemess underground technical report, May, 2016.

Milligan West property

The company further announces that drilling has begun on the Milligan West property (see news release dated Sept. 6, 2017). Drilling will include testing a very strong induced polarization (IP) geophysical anomaly identified on the Milligan West property, located four kilometres west of the currently producing Mt. Milligan mine owned by Centerra Gold Inc. The Milligan West property is owned 56.3 per cent by Serengeti and 43.7 per cent by Fjordland Exploration Inc.

About Serengeti Resources Inc.

Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid 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.

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