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Serengeti Resources Inc. (SIR.V)

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0.3000-0.0300 (-9.09%)
At close: 3:59PM EDT
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Previous Close0.3300
Open0.3100
Bid0.3000 x 0
Ask0.3100 x 0
Day's Range0.3000 - 0.3150
52 Week Range0.1400 - 0.3800
Volume112,500
Avg. Volume232,552
Market Cap32.834M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-0.0310
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Serengeti Completes 2020 Drilling Program at Kwanika: Resource & Exploration Upside Successfully Identified
    GlobeNewswire

    Serengeti Completes 2020 Drilling Program at Kwanika: Resource & Exploration Upside Successfully Identified

    Figure 1 2020 Drill PlanVANCOUVER, British Columbia, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Serengeti Resources Inc. (SIR: TSX-V) ("Serengeti" or "the Company") reports that additional mineralized zones have been intersected in resource step-out drillholes at Kwanika, and the drilling program is now complete for 2020. A total of 4,350 metres were drilled in 9 holes testing a number of exploration targets and resource expansion opportunities. All core samples have been shipped to the analytical laboratory and all results are pending. The advanced resource-stage Kwanika project is ~26,000 hectares, held by Kwanika Copper Corporation (KCC)* and is located in the northern Quesnel Trough of British Columbia which hosts numerous porphyry copper-gold deposits. Highlights * A total of 9 drill holes for 4,350 metres, tested five exploration and resource expansion targets. * Holes K-197 and K-202 expanded mineralization south from Central Zone resource along the Central Fault and demonstrates it remains open in that direction. * Hole K-198 yielded a long mineralized interval within and below the proposed mining shape, and encountered the bounding fault further west than anticipated, potentially expanding the Central Zone underground mining shape**. * K-201 confirms near surface continuity of Cu-Mo mineralization within the South Zone resource. * K-196 intersected two mineralized intervals, including a new at one at depth, 500 m north of the Central Zone, opening exploration potential in that direction.  See Figure 1 2020 Drill Plan Table 1: Kwanika 2020 Drill Hole Parameters Hole IDAzimuth (deg.)Dip (deg.)Length (m)Elev. (m)NAD83 UTM ENAD83 UTM NTarget K-196268-6086110113517146156881Central Zone/Central Fault – North: Exploration K-197268-704199853516506156000Central Zone/Central Fault – South: Resource Expansion K-198240-559659933516886156312CZ West Deep Extraction Level: Infill, resource expansion, engineering K-199173-601709863515686156035Central Zone/Central Fault – South: Resource expansion K-200183-602789863515686156035Central Zone/Central Fault – South: Resource expansion K-201090-4520210103522636154825South Zone West Fault: Resource infill K-202215-754269863516086156064Central Zone/Central Fault – South: Resource expansion K-203269-7017910263510006155267Pinchi Fault – South: Exploration K-204268-7585110113517146156881Central Zone/Central Fault – North: Exploration David Moore, President and CEO of Serengeti commented, “We look forward to receiving the assay results from the recently completed program and these will be released in batches beginning with the first two holes when they are available from the laboratory. We believe turning the focus at Kwanika back to exploration and resource expansion this year will be successful in adding value to the project. The Serengeti team set out to demonstrate upside at Kwanika and believe those objectives were accomplished by demonstrating that the Central Zone resource remains open for expansion to the south and furthermore determined that a bounding fault that limits the resource to the west, lies further west than previously modeled, hence potentially bringing already identified resource into an eventual mine plan. The South Zone was also tested for near surface better grade material and a deep target to the north of the Central Zone continues to offer the possibility of additional resource discoveries on the property. Adding additional exploration upside, geophysics at the Rottacker target, 22 km to the south has identified an IP chargeability anomaly coincident with a previously identified geological and geochemical target and now represents a high priority target for future drilling.” Table 2: Kwanika 2020 Drill Hole Results    Assays pending for all holes Hole IDLength (m)Observations K-196861Two zones of strong potassic alteration; presence of Cu-sulphides confirmed by XRF K-197419Strong potassic alteration; intercept of Cu-sulphides confirmed by XRF K-198965Long intercept of Cu sulphides confirmed by XRF; Intersected Pinchi Fault further west than anticipated K-199170Hole deviated more than anticipated; hole abandoned K-200278Central Zone/Central Fault – South; intersected narrow interval of Cu sulphide at faulted unconformity K-201202South Zone West Fault; near surface intercept of Cu-Mo sulphides confirmed by XRF K-202426Central Zone/Central Fault – South; Cu sulphide intercept confirmed by XRF K-203179Pinchi Fault – South; geophysical target tested, no mineralization encountered K-204851Central Zone/Central Fault – North; at depth, largely intersected a dyke swarm interpreted to lie east of the mineralized domain *Serengeti is sole funding this year’s Kwanika program. As a consequence, the Company’s ownership of KCC will increase to approximately 67%, with POSCO International Corp. holding ~33%.** See Serengeti NR -2019-01, dated March 03, 2019 and companion 43-101 Technical Report filed on SEDAR, April 18, 2019.Qualified personThe 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, Quinn Harper, P.Geo., Chief Geologist of Serengeti Resources, who has supervised the preparation of, and approved the scientific and technical information in the news release.ON BEHALF OF THE BOARDDavid W. Moore, P. Geo. President, CEO and DirectorAbout 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 those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations as well as a comprehensive 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 statements 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 responsibility for the adequacy or accuracy of this release.For further information, please contact: Serengeti Resources Inc. Suite 520 – 800 West Pender St., Vancouver, BC, V6C 2V6 Tel: 604-605-1300 / Email: info@serengetiresources.com / Website: www.serengetiresources.comA photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b21fc527-5dd3-4ca4-9bb8-a54484e32279

  • Serengeti Identifies 3.5 Sq.Km. Multiparameter Porphyry Copper-Gold Target at East Niv; Demonstrates District Scale Potential
    GlobeNewswire

    Serengeti Identifies 3.5 Sq.Km. Multiparameter Porphyry Copper-Gold Target at East Niv; Demonstrates District Scale Potential

    Figure 2: East Niv Main TargetVANCOUVER, British Columbia, Oct. 07, 2020 (GLOBE NEWSWIRE) -- Serengeti Resources Inc. (SIR: TSX-V) ("Serengeti" or "the Company") is pleased to report results from mapping, sampling and induced polarization (IP) geophysics completed at the wholly-owned East Niv property. East Niv is located in an under-explored region of the eastern Stikine Terrane, approximately 15km west of the Sustut Copper deposit and 40km south-southwest of the Kemess mine complex in the Omineca Region of British Columbia. Serengeti initially staked East Niv in 2018 and has subsequently expanded the property to over 20,000 hectares. Analysis and compilation of geology, IP chargeability, aeromagnetics and soil/rock geochemistry has resulted  in the identification of a number of compelling porphyry Cu-Au targets.  The  Company has been awarded a 5-year exploration drilling permit, and the property is now considered drill-ready.East Niv Composite Rock Sample Results by Showing* Showing Samples (n)Avg. Cu (%)Max. Cu (%)Avg. Au (g/t)Max. Au (g/t)Description Main – West190.350.820.301.14Monzodiorite; pervasive K-spar ± bt ± mt alteration; disseminated – blebby cpy Main – East100.300.760.140.35Monzodiorite; K-spar ± bt ± mt, and qtz-carb-ep alteration; disseminated cpy KC130.230.420.671.49Monzodiorite; K-spar-bt-mt ± qtz alteration; disseminated – vein hosted cpy South Nub51.011.709.3837.4Monzodiorite; strong  qtz-mt-ep alteration; disseminated – blebby –vein cpy-py±bn-mo West Flank11.80154.5 g/t Au 581 g/t AgMassive py-mt float sample * Showing areas are defined as spatially continuous outcroppings of the same host lithology bearing similar alteration and mineralization characteristics; Number of samples (n) column represents all composite grab samples collected within the showing area; Average Au and Cu grades represent the average grade of all the samples collected within the showing area; Maximum Au and Cu grades represent the maximum grade of all the samples collected within the showing area; Grab sample grades are by nature selective and may not necessarily be an indication of the overall grade of a mineralized area.David Moore, President and CEO of Serengeti commented, “When the geology, newly discovered copper-gold showings, IP chargeability, aeromagnetics and soil geochemistry are viewed together the results provide a compelling case  for a subcropping porphyry system at East Niv, and it is one of the best targets I’ve seen in a long while. Futhermore there are early indications of additional target areas on this  large property, giving it district-scale potential”.Quinn Harper, Chief Geologist,  added “East Niv hosts the most compelling porphyry target I have ever seen at the pre-drilling stage. All the classical indicators of a strong  porphyry copper-gold system have coalesced over the last three years’ field work, and considering the property lies within a segment of the Stikine Terrane that hasn’t seen meaningful exploration since the ‘70’s, the potential is wide open here.”Figure 1: East Niv Overview – https://serengetiresources.com/site/assets/files/2922/east-niv-overview.jpg Figure 2: East Niv Main Target \- https://serengetiresources.com/site/assets/files/2919/east-niv-main-target.jpg Figure 3: East Niv Main IP \- https://serengetiresources.com/site/assets/files/2920/east-niv-main-ip.jpg Figure 4: East Niv Main Synthesis \- https://serengetiresources.com/site/assets/files/2921/east-niv-main-synthesis.jpgA photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aeb1ccae-8a22-4e39-b777-060a942c2b4cThe Stikine Terrane is the largest intra-oceanic volcanic arc terrane in British Columbia and host to numerous porphyry deposits and complexes including Kemess (Centerra Gold), Red Chris (Newcrest Mining/Imperial Metals), Kerr-Sulphurets-Mitchell (Seabridge Gold) and Galore Creek (Newmont/Teck Resources). East Niv lies within an under-explored limb of the eastern Stikine Terrane which has not undergone systematic exploration since Falconbridge discovered the Sustut Copper deposit in 1973.During July 2020, Serengeti completed a mapping and sampling program aimed at determining the nature of mineralized intrusive outcrops first discovered by Serengeti in 2019 (see press releases dated August 14, 2019 and July 27, 2020). Following the mapping program, Serengeti completed over 17.5 line-km of induced-polarization (“IP”) surveying in 7 wide-spaced lines through the central target area.The Main and KC Showings both display strong-intense K-feldspar-biotite+/-magnetite+/-quartz potassic alteration hosting disseminated and vein/stringer-hosted chalcopyrite. The Showings are overlain upslope by a quartz-sericite-pyrite (“QSP”) phyllic alteration halo, represented in the IP as chargeability >20 mV/V response. Downslope and in the valley bottom, a strong coincident Cu-Mo±Au-Ag Ah-horizon soil anomaly measuring 1000 by 1500m forms two lobes around a central chargeability embayment with elevated Bi-Te. Based on analysis of geochemical results, it is believed that Cu, Au, Mo, Ag and other anomalous elements in Ah-horizon soil samples represent bedrock metal sources, and is interpreted to signify the core of a porphyry Cu-Au-Mo system measuring more than 2 sq km in extent in the valley bottom.    The South Nub Showing is represented by an altered monzodiorite outcropping, locally  displaying strong quartz-magnetite-epidote  alteration and disseminated to vein and blebby chalcopyrite-pyrite ± bornite-molybdenite mineralization. The average grade of three monzodiorite samples from South Nub, excluding outliers, is 3.1 g/t Au and 1.50% Cu. Two soil samples from disaggregated bedrock  at the  showing, best seen  in a 5 meter wide exposure in a stream cut-bank, average 5,673 ppm Cu, 2,000 ppb Au and 200 ppm Mo. South Nub is in faulted contact with younger volcanosedimentary rocks of the Takla Group, and mineralized intrusive units may continue under valley cover toward the interpreted system core in the valley bottom.The Main and KC Showings are encompassed by a pronounced magnetic high signature approximately 1500 x 300m in extent, now seen to be coincident with a 1.5 x 1.5 km composite IP chargeability anomaly. IP surveying further indicates open-ended  extensions to the NW and SE. Additional anomalous polymetallic soil anomalies further to southeast, corresponding with discreet magnetic anomalies, and outside of the area surveyed by IP, suggest the overall target zone may be up to 5 km long.Serengeti is continuing with data analysis and targeting with the goal of completing a substantial initial drilling program in 2021.  Kwanika Project Drilling UpdateThe Company is also pleased to report that the 4300m drilling program at Kwanika is progressing well and is expected to be completed within a week.  The 2020 drill program is fully funded and designed to expand the known resource which is open in several directions and to provide a deep test for the potential of a gold enriched target  first identified from drilling in 2016 as well as testing several other concepts. Drill core logging and sampling are well advanced and results will be released in batches as they become available. The company will provide a more detailed update once the program is completed.Qualified personThe 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, Quinn Harper, P.Geo., Chief Geologist of Serengeti Resources, who has supervised the preparation of, and approved, the scientific and technical information in the news release.ON BEHALF OF THE BOARDDavid W. Moore, P. Geo. President, CEO and DirectorAbout 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 those anticipated in such statements.  Important factors that could cause actual results to differ materially from our expectations as well as a comprehensive 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 statements 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 responsibility for the adequacy or accuracy of this release.For further information, please contact: Serengeti Resources Inc. Suite 520 – 800 West Pender St., Vancouver, BC, V6C 2V6 Tel: 604-605-1300  /  Email: info@serengetiresources.com  /  Website: www.serengetiresources.com

  • GlobeNewswire

    Serengeti Announces Kwanika Copper Renews Agreement with Takla Nation

    VANCOUVER, British Columbia, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Serengeti Resources Inc. (SIR: TSX-V) ("Serengeti" or "the Company") is pleased to report that Kwanika Copper Corp* has renewed an Exploration Agreement with the Takla Nation(“Takla”) which provides for a continuation of a mutually beneficial and cooperative relationship between the two parties.   The agreement has a five year term and provides the parties certainty in their relationship throughout the advancement of the Kwanika project. The advanced resource-stage Kwanika project is ~26,000 hectares, is held by Kwanika Copper Corporation (KCC)* and is located in the northern Quesnel Trough of British Columbia which hosts numerous porphyry copper-gold deposits. David Moore, President and CEO of Serengeti commented, “We are pleased to have renewed our agreement with the Takla Nation. We look forward to working closely with the Takla Nation as we advance the Kwanika project and will continue to build trust and respect with the Takla through ongoing communication and engagement. Agreements such as this reduce uncertainty for both the Company and the First Nation community and represent a valuable step in the progression of any project.”*Serengeti is sole funding this year’s Kwanika program currently underway with two drills testing a number of resource expansion and exploration targets. As a consequence, the Company’s ownership of KCC will increase to approximately 67%, with POSCO International Corp. holding ~33%. Prior to the commencement of field activities in June, Serengeti’s and its majority owned subsidiary Kwanika Copper Corporation’s (“KCC”) combined cash position was in excess of $2.3 million. These funds are sufficient to fund the planned 2020 program, along with general and administrative expenses for the balance of the year.ON BEHALF OF THE BOARDDavid W. Moore, P. Geo. President, CEO and DirectorAbout 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 those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations as well as a comprehensive 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 statements 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 responsibility for the adequacy or accuracy of this release.For further information, please contact: Serengeti Resources Inc. Suite 520 – 800 West Pender St., Vancouver, BC, V6C 2V6 Tel: 604-605-1300 / Email: info@serengetiresources.com / Website: www.serengetiresources.com