Company Overview
Serengeti's principal property is the Kwanika project where over 70,000 meters of drilling has outlined two large, adjacent porphyry deposits containing a resource of 1.66 million ounces of gold and 1.23 billion pounds of copper in the indicated category plus 0.9 million ounces of gold and 1.25 billion pounds of copper in the inferred category . The project is road accessible, hydro-electric supply is within reasonable distance and a key access agreement is in place with the local First Nation group. The project represents a near term development opportunity.
Elsewhere in British Columbia the Company is actively exploring its large portfolio of exploration properties within the Quesnel Trough and its extensions, both on its own and in several joint ventures, including two with major multi-national corporations (see News Release dd. May 3, 2011 & News Release dd. September 21, 2011). The Quesnel Trough and its extensions into the Stikine Arch represent a major prospective mineralized belt and include such deposits as Red Chris Cu-Au development project of Imperial Metals and the Mt Milligan Au-Cu development project of Thompson Creek Metals, as well as a number of other current and former producing mines. Serengeti's large portfolio of properties in the belt has a large number of drill ready exploration targets, a number of which will be tested in 2012.
In Mexico Serengeti is exploring, through a wholly owned subsidiary, a number of properties in the highly prospective Altiplano belt of Northern Mexico. This belt hosts much of Mexico's silver-gold-base metal (zinc, lead) resources, including such giant deposits as the Penasquito mine recently put into production by Goldcorp. Serengeti has seven properties in the belt totaling 70,000 hectares. Airborne geophysical surveys have been completed on a number of these properties as well as ground geological and geochemical surveys. A number of high quality exploration targets have been identified and drilling is planned for several of these in 2012.
Serengeti Resources is led by a highly experienced and successful management team. David W. Moore, President & CEO, has over 30 years' experience in the discovery and delineation of mineral deposits in several countries. Mr. Moore has proven ability to recognize exploration targets of high potential and transform them into successful projects. The Company is mandated for growth and strives to create shareholder value through exploration and discovery on its extensive portfolio of mineral properties.
