TSX-V: SIR

Projects

Summary

Property

6,405 hectare property

Location

Approximately 200km west of Fort St John, and 40km SSW of the Kemess mine complex.

Target Summary

Potassically altered, mineralized porphyry intrusives hosting Cu-Au  mineralization, with a peripheral swarm of locally high grade mineralized veins.  Hosted in Mesozoic volcanic rocks of the Stikine Terrane along the unconformity between the Upper Triassic Takla and Early Jurassic Hazelton Groups. Three main targets identified to date.

Ownership

100% Serengeti. Acquired by staking.

Acquired by staking in 2018 and subsequently expanded to 6,405ha in 2019. East Niv lies within Mesozoic volcanic rocks of the Stikine Terrane along the unconformity between the Upper Triassic Takla and Early Jurassic Hazelton Groups.

SIR’s exploration has identified a 6 sq.km area containing numerous copper-gold showings and strongly anomalous geochemistry, which may indicate the presence of multiple porphyry centers. Prior to SIR’s work, there were no known mineral occurrences on the property. A swarm of mineralized veins, including the South Valley Target C, occur peripheral to the potassically altered and mineralized intrusives at Targets A and B. The setting may indicate the presence of a large hydrothermal porphyry system centered on Targets A and B. Furthermore, regional aeromagnetic data suggests the mineralized trend at East Niv may be related to a regional strike-slip fault and related pull-apart basin bearing similarities to the geological setting at Serengeti’s Kwanika copper-gold deposit.

2019 Exploration Results

In 2019, Serengeti completed a 14-day grid mapping and sampling program at East Niv and collected a total of 85 rock samples, 110 soil samples and 56 stream sediment samples on 250m grid and sample spacings. The work outlined 3 target areas described below. Highlights of the sampling program include: 

Intrusive, Target A. This is a strongly potassic (K-feldspar-silica-magnetite) altered monzodiorite, bearing disseminated and vein-hosted chalcopyrite. Sampling returned assays from trace up to 0.82% Cu and 1.14 g/t Au (see Table 1, above). The monzodiorite outcrops on a south-facing slope over an area roughly 150m east–west by 170m north–south. It appears to be open to the south and west but is covered by valley fill and vegetation. The mineralized potassic zone is flanked to the east by a weakly potassic altered monzodiorite, and a subsequent quartz-sericite-pyrite (phyllic) zone, which together define a prograding porphyry alteration sequence from east to west over a strike length of roughly 1,000m. The system lies along the significant Takla – Hazelton unconformity zone, a similar setting to other porphyry systems in northwestern BC.

Mag Plug, Target B. In 2011 a 2-line Induced-Polarization (“IP”) survey was completed over a highly magnetic circular feature in the valley, approximately 1,200m down slope of Target A. The survey defined a strong coincident chargeability and resistivity anomaly. Subsequent soil and stream sediment sampling completed by Serengeti over the IP grid show strongly anomalous Cu, Au, Ag, Zn and Mo results. The coincident IP, magnetic and geochemical anomalies defining this target may indicate a magnetite-bearing intrusive stock beneath valley cover, possibly associated with Cu and Au mineralization.

South Valley, Target C. This target lies across a wide valley south of Targets A and B. Samples of narrow high-grade quartz-pyrite-chalcopyrite-sulphosalt veins returned assays from trace up to 13.7% Cu, 8.6 g/t Au and 183.1 g/t Ag. The veins occur within red-maroon crystal tuff volcanics which appear to stratigraphically overlie mafic volcanic units.

Plans Moving Forward

The next steps are to run a follow-up IP program over target areas identified to date with additional mapping, sampling and prospecting. This work will be completed between now and the end of the 2019 field season.

Location and Infrastructure

Approximately 350km northwest of Mackenzie, and 40km SSW of the Kemess mine complex. Access is by helicopter.

History

Serengeti staked East Niv in early 2018 based on results of Geoscience BC’s Search III magnetic and radiometric survey as well as regional government geochemical surveys. Since 2018, Serengeti has identified three target areas on the property based on two field programs and expanded the land position to 6,405 hectares. 

Property Geology

East Niv lies within Mesozoic intraoceanic volcanic arc rocks of the Stikine Terrane along the unconformity between the Upper Triassic Takla and Early Jurassic Hazelton Groups.

© 2019 Serengeti Resources Inc.
All rights reserved.

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