Serengeti Resources Inc.
TSX VENTURE : SIR

Serengeti Resources Inc.

January 09, 2007 08:45 ET

Serengeti Drills Major Copper-Gold Intercept on Kwanika Property 111 Metres of 0.69% Copper and 0.54 G/T Gold

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 9, 2007) - Serengeti Resources Inc. (TSX VENTURE:SIR) is pleased to report that assay results of hole K-06-9, from the recently completed second phase of drilling on its 100% owned Kwanika property confirm the discovery of a potentially major new copper-gold mineralized zone. Kwanika is situated in the prolific Quesnel Trough, between the operating Kemess Mine and Mt. Milligan development project and is accessible by road from Ft. St. James, B.C.

Hole K-06-9, which was drilled vertically, intersected a sulphide zone averaging 0.69 % copper and 0.54 g/t gold over 111.13 metres including a high grade zone located near its base averaging 1.49% copper and 1.90 g/t gold over 22.15 metres. An overlying, 34 metre thick native copper bearing oxidized zone was intersected above the sulphide zone. Full results from the hole are presented in the table below. K-06-9 was drilled near the center of a large induced polarization (IP) geophysical anomaly which potentially indicates a large sulphide system measuring 2500 metres long by 300 to 700 metres wide. A plan map of the drill holes at Kwanika can be found on Serengeti's website at www.serengetiresources.com.

"This is a significant result and represents one of the best holes drilled on a greenfields porphyry copper-gold discovery in British Columbia in a long time," stated President and CEO David Moore. "The grade of this hole compares very favourably with the Kemess Mine (0.21% copper, 0.65 g/t gold) and Mt Milligan (0.25% copper, 0.6g/t gold). The potential size of the system is large and equally exciting is the fact that the best grades appear to be interrupted near the bottom of the hole by several more recent crosscutting dykes, which strongly suggests that the mineralized system may extend to greater depth," explained Moore. "We are currently planning a large follow-up drill program which will take advantage of the fact that Kwanika is a road-accessible, year-round project".



K-06-9 Significant Results
---------------------------------------------------------------------
Zone From To Interval Cu Au Ag
(m) (m) (m) % g/t g/t
---------------------------------------------------------------------
Oxide 73.10 107.15 34.05 0.18 0.09 0.6
---------------------------------------------------------------------
Sulphide 112.62 223.75 111.13 0.69 0.54 2.3
---------------------------------------------------------------------
including
Sulphide 112.62 172.0 59.38 0.58 0.24 2.1
---------------------------------------------------------------------
and
Dyke 172.0 183.85 11.85 trace trace trace
---------------------------------------------------------------------
and
Sulphide 183.85 206.0 22.15 1.49 1.90 4.6
---------------------------------------------------------------------
and
Sulphide 206.0 209.35 3.35 0.56 0.28 1.9
---------------------------------------------------------------------
and
Dyke 209.35 217.15 7.80 0.02 trace 0.1
---------------------------------------------------------------------
and
Sulphide 217.15 223.75 6.60 1.02 0.34 3.4
---------------------------------------------------------------------
230.74
Dyke 223.75 (EOH)(i) 6.99 trace 0.09 trace
---------------------------------------------------------------------
(i) End of Hole


K-06-9 is the southernmost of five holes drilled in November within the central part of the large IP chargeability anomaly described above (See News Release dated December 8, 2006). Three of these holes plus an earlier hole (K-06-4) were drilled on a fence 250 metres north of K-06-9 and a fourth hole was drilled a further 250 metres to the north, near the eastern edge of the IP anomaly. Altered and variably mineralized rocks were encountered in all five holes from the current program, with K-06-9 yielding the strongest visible signs of copper mineralization to date. The current interpretation by company geologists is that these northern holes may have been drilled either to too shallow a depth or peripheral to the mineralized intrusive(s). The target remains completely untested by diamond drilling south of K-06-9. The remaining holes from the current program have been submitted for analysis and the balance of the results will be provided when available.

Analytical results from the current program were completed at Global Discovery Labs in Vancouver, BC. A comprehensive quality assurance/quality control program including duplicate samples, blanks and standards formed part of the sampling protocol in addition to the laboratory's own quality assurance program. The field program was supervised by Markus Vanwermeskerken, P. Geo., who is an independent qualified person under the definition of National Instrument 43-101. 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.

Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of exploration success. The Company is focused on the discovery and development of copper-gold and molybdenum deposits in British Columbia, especially in the highly prospective Quesnel Trough where it owns a 100% interest in 76,982 hectares in 14 separate claim blocks. Additional information can be found on Serengeti's website at www.serengetiresources.com .

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release

Contact Information