VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 29, 2012) - Serengeti Resources Inc. (TSX VENTURE:SIR)(FRANKFURT:34S) announces the results from a drill program funded by Freeport-McMoRan of Canada Limited ("FMCC") on the Tchentlo and Choo properties, which are located west of the Mount Milligan mine development project in the Quesnel Trough, BC. Highlights of the program include the intersection of structurally controlled mineralization in one hole at Tchentlo, grading 0.73% Cu, 0.81 g/t Au, 8.4 g/t Ag, 0.05% Mo over 3.2 meters, and gold mineralization intersected in three widely separated holes on the Choo property, with the best intercept of 1.53 g/t Au over 4 meters.
| Reported Analytical Results | ||||||
| Property | Hole | From (m) | To (m) | Interval (m) | Gold g/t | Copper % |
| Tchentlo | T-12-04 | 51.0 | 53.0 | 2.0 | 0.19 | 0.03 |
| 103.0 | 105.0 | 2.0 | 0.21 | 0.02 | ||
| 155.0 | 157.0 | 2.0 | 0.25 | 0.01 | ||
| 219.0 | 224.7 | 5.7 | 0.34 | 0.02 | ||
| T-12-05 | 44.7 | 47.9 | 3.2 | 0.81 | 0.73 | |
| T-12-05A | 75.5 | 77.0 | 1.5 | 0.24 | 0.24 | |
| 126.0 | 128.0 | 2.0 | 0.13 | 0.12 | ||
| 189.0 | 191.0 | 2.0 | 0.16 | 0.14 | ||
| T-12-07 | 170.0 | 172.5 | 2.5 | 0.10 | 0.16 | |
| T-12-06, 08, 09 no significant values | ||||||
| Choo | C-12-04 | 247.0 | 251.0 | 4.0 | 1.53 | 0.02 |
| C-12-06 | 73.0 | 75.0 | 2.0 | 0.38 | - | |
| 110.0 | 112.0 | 2.0 | 0.18 | - | ||
| 126.0 | 134.0 | 8.0 | 0.55 | - | ||
| C-12-07 | 122.0 | 127.0 | 5.0 | 0.66 | 0.02 | |
| 144.8 | 147.0 | 2.2 | 0.74 | 0.04 | ||
| C-12-03, 05 no significant values | ||||||
A total of 2842 meters was drilled in 12 holes testing seven separate targets in a program completed from mid-June to mid-July. Three of the holes at Tchentlo (T-12-04, 05, 5A) tested a strong induced polarization (IP) and magnetic anomaly with coincident Cu-Mo-Au-Pt soil anomalies. Scattered gold anomalism was returned from hole T-12-04 and several zones of structurally controlled copper-moly mineralization hosted in diorites and gabbro were intersected in holes T-05, 5A collared from the same drill set-up.
On the Choo property, three very widely spaced holes (up to five kilometers apart) encountered gold-anomalous intervals (1.53 g/t Au over 4 meters, 0.55 g/t Au over 8 meters and 0.66 g/t Au over 5 meters) at or near the contacts of andesite or feldspar porphyry dykes.
The results from this recently completed drill program are being integrated with the balance of the exploration data and evaluated to determine the appropriate follow-up program.
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 and conducting exploration for gold-silver deposits in Mexico. Additional information on Serengeti's projects can be found on the Company's website at www.serengetiresources.com. Serengeti is well funded to advance its projects with a current working capital position of approximately $2.5 million. Serengeti has 51.1 million shares issued and outstanding or 59.4 million shares on a fully diluted basis.
Quality Assurance/Quality Control
Sample analysis for the current program was completed at Acme Analytical Laboratories Ltd in Vancouver, BC. A comprehensive quality assurance/quality control program including duplicate samples, blanks and standards form part of the sampling protocol in addition to the laboratory's own quality assurance program. The field program was supervised by Serengeti Resources Inc. staff and 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
Cautionary Statement
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. Readers are 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.
Contact Information:
Investor Relations
514-341-0408 or Toll Free in North America: 1-866-460-0408
info@paradox-pr.ca
Serengeti Resources Inc.
604-605-1300
www.serengetiresources.com