TSX-V: SIR

Projects

Overview

Property

High Potential Property thought to potentially host the eastern fault offset of the Kemess East deposit. Under option from Finlay Minerals Ltd. and Electrum Resources Corporation. Total land area: 4,498 hectares.

Location 

Omineca Mining Division of north-central British Columbia, Canada. One kilometre north of Centerra Gold’s Kemess East deposit.

Target Summary

Historical magnetic, radiometric and induced-polarization (IP) surveys, soil and rock geochemical surveys and shallow diamond drilling outline several notable targets for the discovery of a Cu-Au porphyry-style mineral system. The Kemess East Offset Target lies one kilometre north of the Kemess East deposit, along the east side of the Kemess East Offset Fault. Serengeti’s adjacent 100% owned UDS property hosts a quartz-sericite-pyrite phyllic alteration zone which was the focus of drilling in 2017 and is interpreted to vector toward the Atty property.

Ownership

Option agreement with Finlay Minerals Ltd. and Electrum Resources Corporation.

Project Summary

The Atty property lies within the Toodoggone Mining District, favourably located north and immediately adjacent to Centerra Gold’s Kemess property, host to the past-producing Kemess South open pit Cu-Au mine and the Kemess Underground and Kemess East deposits, the latter of which was discovered between 2007 and 2015. Atty has not been the focus of any significant exploration since before the discovery of Kemess East.

Over the past several years, AuRico Metals developed Kemess Underground (KUG) through the Environmental Assessment stage and completed a preliminary economic assessment (PEA) at Kemess East (KE). On November 7, 2017 Centerra Gold Inc. acquired AuRico Metals with an aggregate transaction value of C$310 million.

The Atty property is underlain by Hazelton and Takla Group volcanic rocks and intrusive rocks of the Black Lake Suite, the latter of which host the Kemess Cu-Au deposits. Kemess East is cut off on the eastern side by the Kemess East Offset Fault, which is believed to have transposed a portion of the deposit toward the north.

The Kemess East Offset Target (KEOT) at Atty, which was the locus of interest to Serengeti, may host the faulted eastern portion of the Kemess East deposit, which may occur in the vicinity of the Atty Gossan and Kem showings, as well as the anomalies outlined in the 2007 Titan IP data. Work completed by Serengeti in 2018 confirmed the presence of the KEOT through ground IP surveys, detailed surface mapping and relogging and geochemical analysis of historical drill core.

Other main targets at Atty include Targets B, C and D  (see Atty Option image below) which were discovered and/or refined during the 2018 IP and mapping program and represent compelling drill targets. 

Immediately north of the KEOT, the Atty Gossan Zone, an earlier geochemical and IP target, was drilled by Finlay Minerals in 2004. Seven drill holes ranging up to 300 metres deep intersected Takla volcanics with local disseminated pyrite, magnetite and weak, sporadic copper and zinc mineralization. However, relogging of ATT-04-07 in 2018, the hole closest to the KEOT, identified an increasing density of sheeted magnetite-chalcopyrite veinlets with depth that hadn’t been appreciated earlier. 2018 assays of ATT-04-07 shows the hole intersected 36.1 metres grading 0.1% Cu and 0.11 g/t Au.

Based upon the deep drilling at Kemess East and revaluation of Induced-Polarization (IP) data, it is evident that drilling in 2004 was too shallow and possibly peripheral and north of the intrusive mineralizing source. The new Kemess East Offset Target lies between the 2004 drilling area and the claim boundary with Centerra Gold.

Plans Moving Forward

Serengeti hopes to complete a multi-hole diamond drilling and detailed IP geophysics program at Atty in 2019. The program would be designed to test the Kemess East Offset Target as well as the other target areas on the property.

Location and Infrastructure

The Atty property is located eight kilometres north of the Kemess South mining camp which includes a large facility with bunkhouses, mill site, airstrip, all weather road and power line from Mackenzie B.C. The property is accessed via the Omineca Resource Access Road and tributaries, or by helicopter from Kemess.

History

1929: D.W. Chisholm ‐ staked a claim near the western boundary of the Atty Claim Group.

1969: Kennco Explorations (Western) Ltd. – small soil geochemical program in area of AT 1 and 2 claims.

2004: Finlay Minerals Ltd. ‐ seven-hole (1,653 m) diamond drilling program on the Atty Gossan Zone, soil – IP surveys on Awesome Showing, prospecting‐sampling in the Wrich area.

2007: Finlay Minerals Ltd. – Titan 24 IP survey on a 2.4 km east‐west line near south property boundary.

2007: First drilling program at Kemess East (Northgate Minerals) identifies porphyry system.

2013: Finlay Minerals Ltd. – prospecting and sampling along new access road constructed by AuRico Gold to connect the Kemess Underground and East deposits. Ridge top prospected south of the Titan IP survey line in area of small gossan. (Assessment Report – 34407)

2013: Continued exploration at Kemess East results in discovery of significant mineralized system (AuRico Gold); AuRico Gold continues to advance Kemess Underground.

2015: Finlay Minerals Ltd. – Prospecting and Geochemical sampling (Assessment Report – 35865)

2016: Finlay Minerals Ltd. – LiDAR Survey (Assessment Report – 36672)

2017: Maiden PEA published on Kemess East; Kemess Underground receives EA approval, enters permitting (AuRico Metals); AuRico Metals purchased by Centerra Gold.

2018: Serengeti Resources Inc. – options Atty Property from Finlay Minerals; completes 21 line-km of IP, 1:5000 scale geological mapping, relogging/resampling 2004 drill core, develops Kemess East Offset Target and others.

Property geology

Mesozoic arc-related volcanic rocks comprising the eastern margin of the Intermontane Belt underlie the district over an area measuring 100 by 40 kilometres. The oldest rocks in the belt are Permian Asitka Group limestones and tuffs. Lower – Middle Jurassic Hazelton Group extrusive volcanic and sedimentary units unconformably overlie Takla Group units below; and overlapping all assemblages to the west are upper Cretaceous Sustut Group sediments. Intrusive rocks are prevalent in the area and have been categorized as late Triassic Alaskan-type ultramafics such as pyroxene diorite, hornblende gabbro and pyroxenite composition. Economically more significant are early Jurassic intrusives of the Black Lake Suite, which are represented by granodiorite, hornblende diorite, pyroxene quartz-diorite, quartz-monzonite and quartz monzodiorite and outcrop on the ridge south of the property.

Local to the Atty area are the Kemess East Offset, Duncan, Saunders and Finlay Faults, which trend north-northwest and display normal block faulted movement. Thrust faulting interpreted as Eocene or younger is also present in the area with displacement believed to be towards the northeast affecting rocks from the Takla up to Sustut sediments.

Other notable target areas within the Atty and UDS combined land package include the Awesome, Kem, Attycelley, Fog and Mess showings, all of which display high-level alteration and polymetallic mineralization, characteristics typically associated with porphyry systems. Furthermore, Serengeti’s 2017 UDS drilling campaign resulted in the identification of an intense quartz-sericite-pyrite alteration zone open to the northwest and potentially extending onto the Atty property, now part of the combined land package.

Photos

© 2018 Serengeti Resources Inc.
All rights reserved.

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