Vancouver, B.C., January 22, 2014: Serengeti Resources Inc. (SIR: TSX-V; 34S: FSE) is pleased to report the acquisition of additional ground at its strategically located UDS property, lying immediately east of AuRico Gold’s Kemess Underground project in northern BC.
The UDS property is located five kilometers to the east of the proposed Kemess Underground gold-copper project where AuRico Gold is investigating the feasibility of recovering 1.7 million ounces of gold from a Probable Reserve of 100Mt grading 0.56 g/t Au, 0.28% Cu deposit by block cave underground mining methods. UDS was initially staked by Serengeti in August, 2013 and has subsequently been expanded by staking and outright purchase of several third party claims. The UDS block now comprises 2,181 hectares and covers a large area of prospective geology, several epithermal poly-metallic mineral showings and a number of untested geophysical trends. For current maps of the UDS property and target areas visit UDS webpage. There is strong evidence that the Kemess copper-gold system and its easterly extensions at Ora and Altus Zones discovered in 2007 is controlled by and elongated along a 070?? trending favourable mineralized corridor. Subsequent NW-SE oriented faults appear to offset this corridor laterally and vertically towards the UDS claims located to the east. This structural complexity preserves or obscures highly prospective areas of overlying stratigraphy and glacial cover, both with excellent potential on Serengeti’s UDS block for moderate to deeply buried high-grade copper-gold deposits.
A government sponsored airborne magnetic and radiometric survey conducted in 2004 identified several pronounced radiometric anomalies which may reflect potassic alteration associated with the gold-silver-polymetallic epithermal mineral showings or to related underlying porphyry style mineralization occurring within the UDS claims. This survey is also useful in structural reconstruction of this geologically complex area, which contains several potential target trends, including an untested, open-ended, IP geophysical anomaly immediately adjoining and trending onto the claim block. Very limited historical drilling has been done at UDS, with only seven shallow holes totaling less than 400 meters.
“UDS is a large highly prospective property located adjacent to a major deposit and we look forward to getting boots on the ground here,” stated Serengeti President & CEO, David Moore. “A thorough compilation of prior exploration in the area is currently in progress. This will be followed by geological mapping in the 2014 field season, aimed at targeting deep penetrating IP geophysics and eventual drilling to test for a buried porphyry system.”
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 and exploring its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia. A number of these projects are available for option-joint venture and additional information can be found on the Company’s website at www.serengetiresources.com. Serengeti has 51.1 million shares issued and outstanding or 58.4 million shares on a fully diluted basis.
Quality Assurance/Quality Control
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.
ON BEHALF OF THE BOARD
David W. Moore, P. Geo., President, CEO and Director
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 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. A comprehensive list of risk factors is provided in the Company’s Annual Information Form (“AIF”) for the year ended February 28, 2013 and filed on SEDAR on July 15, 2013. 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.
For further information, please contact:
Investor Relations: Paradox Public Relations Tel: 514-341-0408 Toll free (in North America) 1-866-460-0408
Serengeti Resources Inc. 1700-750 West Pender St, Vancouver, BC V6C 2T8
Tel: 604-605-1300 Email: email@example.com Website: www.serengetiresources.com