Serengeti Provides 2020 Field Program Update on East Niv & Top Cat
NR: 2020-09
Serengeti Provides 2020 Field Program Update
on East Niv & Top Cat
Vancouver, B.C., July 27, 2020. Serengeti Resources Inc. (SIR: TSX-V) ("Serengeti" or "the Company") is pleased
to report preliminary field results from mapping and sampling programs recently completed at the East Niv and Top Cat
projects.
Highlights:
East Niv
The original monzodiorite showing, first identified in 2019 and grading up to 0.82% copper, 1.14 g/t gold in
composite grab samples (see press release dated August 14, 2019), was extended to 400m strike length.
A second mineralized monzodiorite outcrop, measuring 200 m in strike length was discovered 650 metres to
the east (see Figure 1).
A pronounced discrete magnetic high signature, approximately 1500 by 300m in extent encompasses the two
showings.
4 additional discrete magnetic high/low signatures with supporting anomalous copper geochemistry extend
the favourable trend to over 3.5km in length (see Figure 2).
Serengeti has tripled the property size as a result of these encouraging early results.
Top Cat
Additional pyroxenite-skarn float boulder samples, shown to grade up to 1.39% copper, 0.69 g/t gold and 1.38
g/t palladium from 2019 sampling, were collected along a 3.5km transect over a prominent magnetic target.
Two outcrop zones (measuring 140 by 100m; and 220 by 50m) show pyroxenite contacting syenitic units
hosting disseminated chalcopyrite and occasional bornite.
Several areas of anomalous copper geochemistry were identified by XRF along a prominent magnetic corridor
measuring 7km in strike length.
David Moore, President and CEO of Serengeti commented , “I’m excited by these preliminary results from the field
program and particularly so from what the crew turned up on our 100% held East Niv property . We have early
indications here of a mineralized system of significant size that we know from our work last year , at least locally ,
contains some interesting gold and copper grades. To put this into perspective, the 3. 5 km long , open ended trend
we’ve identified here so far compares favourabl y with the footprint of the entire Kwanika system which contains two
deposits, the Central and South Zones. I look forward to seeing the analytical results from this work and to the results of
the IP geophysical survey that is scheduled to begin shortly.”
East Niv Exploration
From July 4th to July 16, a crew of 5 completed an 11 day mapping/sampling program on the East Niv property located
45 km southwest of the Kemess Mine. A total of 294 Ah-horizon soil samples were collected over a 150m spaced grid
in addition to 100m spaced contour samples in areas of interest ; as well as 11 silt samples and 123 rock samples
collected for assay. Rock samples were collected from representative geological units, and mineralized monzodiorite
intrusive outcrops represented the majority of units sampled . Several areas of interest were identified which form a
3.5 km long by up to 1.3 km wide northwest-southeast prospective trend from treeline to valley floor (approximately 3
km2 in extent). The trend consists of a number of discrete magnetic high features , several mineralized occurrences ,
and correlated anomalous copper soil geochemistry from 2019 analytical results and preliminary 2020 field XRF results.
The main monzodiorite showing, first identified in 2019 and grading up to 0.82% copper, 1.14 g/t gold* in composite
grab samples (see press release dated August 14, 2019) , was extended significantly in strike extent , and a second
mineralized monzodiorite outcrop, measuring 200 by up to 50m in width was discovered 650 metres to the east along a
pronounced magnetic high signature , approximately 1,500 by 300m in extent. The monzodiorite is mineralized with
chalcopyrite and occasional bornite and is moderately to intensely potassically altered. Quartz veining +/- magnetite +/-
chalcopyrite is locally pervasive in the potassic ally altered zone which is bounded upslope by a quartz -sericite-pyrite
(phyllic) halo.
Preliminary field XRF results have confirmed the presence of copper mineralization as well as the soil anomalism, and
Serengeti will be following up th is first phase program with an IP geophysical survey to begin shortly, plus additional
sampling to further delineate the extent of the East Niv mineralized system. Samples from the 2020 program have
been submitted to the laboratory ; results are pending and will be used for future drill targeting. Further to these
encouraging results from the current program, the property has been tripled in size and now comprises 18,170
hectares.
Serengeti Resources Inc.
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Top Cat Exploration
Nova Zone
From June 16 to June 29, a crew of 6 carried out a 14 day mapping/sampling program over the Nova zone at Top Cat
in order to follow up on results from the 2019 field program including the identification of additional “pyroxenite skarn”
boulders identified in 2019 found to host up to 1.39% copper, 0.69 g/t gold, 6.45 g/t silver and 1.38 g/t palladium in a
float boulder (see press release dated January 19, 2020). A total of 393 Ah samples were taken over a 200m spaced
grid in addition to 53 stream sediment samples and 90 rock s amples. Most rock samples were selected from boulder
float where bedrock is interpreted to be close to surface, and represent primarily strongly altered pyroxenite and
alkaline intrusives of the Duckling and Thane Creek suites. Several areas of anomalous c opper geochemistry were
identified by XRF near the interpreted contact between pyroxenite and felsic intrusive units along a prominent magnetic
corridor measuring some 7km in strike length. In Nova cirque (toward the northwest along the magnetic trend)
actinolite-biotite altered pyroxenite is intruded by syenitic intrusives showing quartz -sericite-pyrite (phyllic) to K -feldspar
(potassic) alteration hosting disseminated chalcopyrite. Preliminary field XRF results have confirmed the presence of
copper mineralization, and Serengeti is currently following up this first phase program with an IP survey. Analytical
results from the 2020 sampling program are pending release from the laboratory and will be used for future drill
targeting.
Cat Mountain Zone
Cat Mountain is an advanced gold-copper prospect which has seen over 10,000 metres of historical drilling, intercepting
grades of 1.15 g/t gold and 0.15% copper over 95.4 metres in DDH CAT -94-01 (see related press release , dated
January 19, 2020). Serengeti completed a data compilation and 3D modelling exercise on Cat Mountain, the results of
which suggest that drilling intercepts remain open to the northwe st and have identified a potential offset to the
southeast. See Figure 3 for Cat Mountain targets. Exploration at Top Cat is continuing with the completion of IP
surveys over the Nova and Cat Mountain zones which arecurrently underway.
Kwanika Resource and Exploration Drilling Program
The Company will put out in the near future , a detailed update on its flagship Kwanika Copper Gold project outlining
the 2020 exploration and drilling program. The drill program is slated to begin in early August and IP surveying
totalling 15 line km was recently completed over t hree target areas on the Kwanika claim block to help define drilling
targets.
Qualified person
The field and analytical programs described herein were supervised by Serengeti Resources 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, who has supervised the preparation of, and approved, the scientific and technical
information in the news release.
*Grab sample grades are by nature selective and not necessarily an indication of the overall grade of a mineralized zone
ON BEHALF OF THE BOARD
David W. Moore, P. Geo.
President, CEO and Director
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 majority-owned, advanced Kwanika copper-gold project
and exploring its extensive portfolio of properties in north-central British Columbia. A number of these other projects are
available for option or joint venture and additional information can be found on the Company’s website at
www.serengetiresources.com.
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 tho se anticipated in such
statements. Important factors that could cause actual results to differ materially from our expectations as well as a compre hensive list
of risk factors 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. Forward -looking statements are based on the estimates and opinions of management on the date the
statements are made, and we do not undertake any obligation to update forward -looking statem ents should conditions or our
estimates change, other than as required by law and readers are further advised not to place undue reliance on forward -looking
statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts respons ibility for the adequacy or accuracy of this
release.
Serengeti Resources Inc.
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For further information, please contact:
Serengeti Resources Inc. Suite 520 – 800 West Pender St., Vancouver, BC, V6C 2V6
Tel: 604-605-1300 / Email: [email protected] / Website: www.serengetiresources.com