Kwanika Property
Kwanika Location Map Click to Enlarge |
Kwanika South Zone Plan Click to Enlarge |
Kwanika Section 1250S Click to Enlarge |
Kwanika Resource Block Model Feb 2009
>0.25% Cu Eq Cut-off Looking East Click to View |
43-101 Report Resource Estimate Click to Enlarge |
Exploration Highlights
- Discovery hole Dec 2006, 56,000 meters drill program completed in 123 holes to August 2008
- Resource Estimate published February 2009
(1.6 million oz Au, 1.1 billion lbs Cu) - Environmental scoping study completed
- Initial metallurgical test completed
- Summer 2009 drilling (17 holes) on selected high priority targets to significantly expand the footprint of mineralization and/or discover additional high grade deposits to augment the existing resource.
The project is situated in a large porphyry copper-gold belt known as the Quesnel Trough; Kwanika is located in north-central British Columbia approximately 140 kilometers northwest of Fort St. James.
Property Ownership
Serengeti Resources Inc., (SIR: TSX.V) retains 100% ownership of the Kwanika property which is situated in the Omineca Mining Division. It comprises of almost 9,000 hectares.
History
Previous exploration on the property occurred as early as the 1930's and copper mineralization was first recognized along Kwanika Creek in 1964. Prior to Serengeti's discovery, the property hosted a historical, non 43-101 compliant resource containing 36 million tonnes grading 0.2% copper in a portion of what is now recognized as the South Zone. Exploration conducted by Serengeti during 2005 and 2006 included airborne and ground IP geophysics as well as drill programs that resulted in the discovery hole K-06-9 that intersected 111.1 meters grading 0.69% copper and 0.54 grams gold/tonne in the Central Zone in December 2006.
Geology
The property is situated in the northern reaches of the Quesnel Trough, which is known to host numerous alkalic porphyry deposits. The regional geology comprising and surrounding the property proves to be variable, yet the geologic evolution of the Pinchi fault and Hogem Batholith has spatially constrained the lithologies. Kwanika is located between Northgate's Kemess Mine, which has produced up to 300,000 ounces of gold annually, and the Mt. Milligan deposit, reported to contain 5.6 million ounces of gold and 1.7 billion pounds of copper, currently being developed by Terrane Metals and Goldcorp. Click here to view an interactive review of the Kwanika project located at http://www.corebox.net/properties/kwanika/.
The Kwanika Project consists of two mineralized areas known as the Central Zone and the South Zone. Since the discovery, Serengeti has expanded the central area of high-grade, copper-gold mineralization using drill hole spacings designed to support a resource calculation. The company completed 56,000 metres of drilling in 123 holes up to August 2008. Some of the drilling highlights include Hole K-07-15 that cut 328.3 metres grading 0.61% copper and 0.72 grams gold/tonne and Hole K07-29 that intersected 48.6 metres of 0.75% copper and 2.5 grams gold/tonne. Hole K-07-28 encountered a 322-metre interval of porphyry-style copper-gold mineralization that graded 0.40% copper and 0.40 grams gold/tonne. A 240-metre interval in Hole K-08-62 contained 1.28% copper and 1.41 grams gold/tonne.
Resources
A NI 43-101 compliant resource estimate conducted on the Central copper-gold zone at the Kwanika Project was released in March 2009 by Scott Wilson Roscoe Postle Associates Inc. (To download a copy of Kwanika's NI 43-101 report click here). The estimate is based on 78 drill holes totaling 40,784 metres that were drilled between 2006 and 2008. The resource estimate was based on a 0.25% copper equivalent cut-off grade and outlined 182.6 million tonnes of Indicated Mineral Resources grading a 0.47% copper equivalent or a 0.71 grams gold/tonne equivalent containing 1.62 million ounces of gold and 1.15 billion pounds of copper. Inferred Mineral Resources of 28.5 million tonnes grade 0.32% copper equivalent or 0.49 grams gold/tonne equivalent and contain an additional 0.2 million ounces of gold and 120 million pounds of copper. A higher grade zone based on a 0.40% copper equivalent contains 75.1 million tonnes of Indicated Mineral Resources grading 0.42 grams gold/tonne and 0.41% copper. A three dimensional video resource block model can be viewed by clicking here. An environmental scoping study and preliminary metallurgical studies have also been completed.
Indicated Mineral Resources |
||||||||
CuEq |
Tonnage |
Au |
Au |
Cu |
Cu |
Cu Eq |
Au Eq |
|
% Cut-off |
Mt |
g/t |
M oz |
% |
M lb |
% |
g/t |
|
0.40 |
75 |
0.42 |
1.02 |
0.41 |
684 |
0.69 |
1.05 |
|
0.25 |
183 |
0.28 |
1.62 |
0.29 |
1,153 |
0.47 |
0.71 |
|
Inferred Mineral Resources |
||||||||
0.25 |
29 |
0.20 |
0.18 |
0.20 |
123 |
0.32 |
0.49 |
|
Infrastructure
One of the many upsides to the project is the excellent infrastructure, with the drill area being road accessible. The nearby BC rail-line would potentially provide a concentrate load capacity at Ft St James. The Kwanika property is within 75 kilometers of the Kemess power line, which following their planned shutdown in 2011; will have surplus hydro capacity. All exploration operations have been conducted from a fully established 30 man base camp which could support year round exploration.
Drill Program
Click here for a link to the news release tab of our website.
Serengeti has an approved $3.5 million drill program for 2009. The Company is currently drilling high priority targets to expand the known mineralized zones and to search for new zones around the Central and South Zones of the Kwanika Project. The Company continues to release data as it is available from our lab. The first release (2009-08, distributed August 26, 2009), includes holes which were drilled along the west side of the South Zone. The second release (2009-09, distributed September 21st, 2009), shows the expansion potential of the South Zone, as it is open to the South and East as well as to depth.
