TSX-V: SIR

Projects

PropertyHigh Potential Property with newly identified, untested sulphide system adjacent to former Kemess South Cu-Au mine
LocationOmineca Mining Division of north-central British Columbia, Canada. 7km NE of Kemess Mine
Target SummaryA newly identified strong-to-intense IP anomaly under shallow cover suggests a sulphide system associated with Takla Volcanics, which are the immediate hangingwall rocks to 3 nearby Cu-Au deposits. Anomalous Cu-Zn-Au geochemistry associated with shallowest part of the geophysical target, and a potential fault offset to nearby Kemess South or Kemess in Underground-Kemess East mineralized corridors add to the overall potential of the target.
OwnershipSerengeti Resources Inc. 100%

Project Summary

The 2,286Ha UDS property is 100% owned by Serengeti. The property is located 7km northeast of the Kemess South Pit (historic production of 3M oz of Au and 794M lbs of Cu from 219M tonnes of ore), and 5km east of the Kemess Underground (Proven + Probable reserve of 100.3M tonnes at 0.28% Cu, 0.56 g/t Au and 2.05 g/t Ag). The UDS property covers a structurally complex area of rocks similar to those that host -and immediately overlie- the nearby Kemess deposits. The main mineralization in the district consists of vein-type epithermal precious metal occurrences and three porphyry Au-Cu deposits. Serengeti has recently identified a large, intense chargeability anomaly near the Kemess South deposit, interpreted to represent a previously untested sulfide system proximal to the deposits noted above.

Plans Moving Forward

The 2016 IP program has significantly expanded a historic Northgate IP chargeability anomaly that bordered the property to the south and has expanded it to an area of 1,500 m by 900 m. This chargeability anomaly is associated with anomalous geochemistry, favourable rocks and proximity to 3 major deposits, and is a compelling target that warrants drilling in 2019 if funding is available.

Location and Infrastructure

The UDS property is located 7km from the Kemess South mining camp which still contains bunkhouses, mill site, airstrip, all weather road and a power line from Mackenzie B.C. The property is accessed by helicopter at present but is within 2-3km of the mine road network.

History

The property has seen prospecting dating back to the 1960’s in the search for epithermal and bonanza gold in the region. Prospecting has shown Au values up to 0.5 g/t Au and anomalous Zn and Cu on the south ridge of the property. Very shallow drilling in 1989 tested a fault zone for epithermal Au-Ag. This was accompanied by trenching and further soil sampling. Stealth Minerals acquired the property in the early 2000’s and completed 2 years of prospecting and soil sampling with encouraging results. The land package was subsequently dropped and acquired by Serengeti in the summer of 2013. Serengeti completed 4 lines of deep penetrating IP in the fall of 2016 and defined a strong chargeability anomaly at the south end of the property.

Property Geology

Mesozoic arc-related volcanic rocks comprising the eastern margin of the Intermontane Belt underlie the district over an area measuring 100 kms by 40 kms. 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 UDS area are the 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.

The project area contains three known mineralization occurrences (August30, Mess and New Mess 2) with several epithermal Au-Ag occurrences (showings and prospects) ). These are mainly epithermal vein showings, mostly Cu-Ag with occasional Pb-Zn. A copper in soil geochemical anomaly with related copper-gold rock geochemistry at Mess Ridge on the nearby FogMess claim group is deemed a relatively under-explored large-scale target.

UDS 2017 Drilling Results

HoleID

From (m)

To (m)

Interval (m)

Au (g/t)

Ag (g/t)

Cu (%)

Zn%

 

 

 

 

 

 

 

 

UDS-17-01

9.0

215.0

206.0

0.02

0.29

0.01

0.01

including

62.9

75.0

12.1

0.05

0.51

0.01

0.02

 

105.8

110.0

4.2

0.02

1.12

0.02

0.04

 

164.5

165.0

0.5

0.02

1.30

0.03

0.10

 

170.2

178.1

7.9

0.06

2.13

0.01

0.02

        

UDS-17-02

24.0

56.0

32.0

0.02

0.24

0.01

0.01

 

114.0

142.0

28.0

0.02

0.19

0.01

0.11

including

114.0

122.0

8.0

0.03

0.25

0.02

0.13

 

134.0

142.0

8.0

0.03

0.18

0.02

0.24

        

UDS-17-03

259.0

287.0

28.0

0.13

0.11

0.01

0.01

including

285.0

287.0

2.0

1.31

0.10

0.01

0.01

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