{"id":1128871,"date":"2019-07-25T12:43:00","date_gmt":"2019-07-25T17:43:00","guid":{"rendered":"https:\/\/resourceworld.com\/?p=56187"},"modified":"2019-07-26T16:44:23","modified_gmt":"2019-07-26T21:44:23","slug":"serengeti-starts-drilling-near-kemess-property","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1128871","title":{"rendered":"Serengeti starts drilling near Kemess property"},"content":{"rendered":"

Serengeti Resources Inc.<\/strong> [TSXV-SIR; 34S-FSE] said Thursday July 25 that it has begun drilling at the Atty property, immediately north of and adjacent to Centerra Gold Inc.<\/strong>\u2019s [CG-TSX; CAGDF-OTC] Kemess property in north-central British Columbia.<\/p>\n

Serengeti said it plans to drill at least 2,500 (five holes) to test three different targets. The company said it secured an option to earn a 100% interest in the property from Finlay Minerals Ltd.<\/strong> [FYL-TSXV] and Electrum Resources Corp.\u00a0 An initial target development program was conducted in 2018.<\/p>\n

Serengeti shares were unchanged at 27.5 cents on Thursday. The shares are trading in a 52-week range of 12 cents and 60 cents.<\/p>\n

The most recent induced polarization (IP) geophysical surveying, completed in June 2019, has identified a previously unknown, intense, deposit-scale chargeability anomaly, known as the Valley Target. It is coincident with magnetic, radiometric and a flanking geochemical anomaly in a covered bottom in the northern portion of the property, 6 km northeast of the Kemess East deposit.<\/p>\n

\u201cWe are very pleased to start our first drill program at Atty,\u201d said Serengeti President David Moore. \u201cThe Kemess East Offset target is a priority for us, and the new Valley target, located six kilometres away, which is almost completely covered, is a compelling, deposit-size IP anomaly that could represent an intact porphyry system,\u201d he said.<\/p>\n

\u201cIt has not previously been recognized because much of it sits beneath shallow valley fill cover.\u201d<\/p>\n

Serengeti says the Atty porphyry copper-gold project is a high priority target that may host the eastern fault offset of Centerra Gold\u2019s Kemess East deposit.<\/p>\n

Centerra announced the friendly acquisition of AuRico Metals (including its royalty portfolio and the Kemess gold-copper development asset) in early November 2017, for a total cash consideration of US$242 million (C$310 million).<\/p>\n

Kemess is a low-cost brownfield development asset that is host to the feasibility-stage Kemess Underground and preliminary economic assessment level Kemess East projects.<\/p>\n

Serengeti is currently advancing its Kwanika copper-gold project in partnership with POSCO DAEWOOD and exploring its extensive portfolio of properties in north-central B.C.<\/p>\n

The company said it hoped to complete a pre-feasibility study at Kwanika by the third quarter of 2019. The pre-feasibility study is targeting a proposed open-pit and bulk underground copper-gold mine at Kwanika.<\/p>\n

Highlights from drilling last year include drill hole K-182, which returned 500 metres of 0.66% copper, 0.80 g\/t gold (2.19 g\/t gold equivalent), including 113 metres of 1.31% copper, 1.31 g\/t gold (4.09 g\/t gold equivalent) from near surface at Kwanika.<\/p>\n

The project is held by Kwanika Copper Corp., a private company held jointly by Serengeti Resources, which has a 65% interest, and POSCO Daewood, which owns the other 35%.<\/p>\n

POSCO Daewoo is one of South Korea\u2019s leading trading companies. POSCO\u2019s commitment provides financial stability and significant value to both the Kwanika Project and Serengeti as a company, Moore said recently.<\/p>\n","protected":false},"excerpt":{"rendered":"

Serengeti Resources Inc. [TSXV-SIR; 34S-FSE] said Thursday July 25 that it has begun drilling at…<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[622],"tags":[22,48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1128871"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1128871"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1128871\/revisions"}],"predecessor-version":[{"id":1129183,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1128871\/revisions\/1129183"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1128871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1128871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1128871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}