TSX-V: SIR

Projects

Overview

Property

High Potential Property thought to potentially host the eastern fault offset of the Kemess East deposit. Under option from Finlay Minerals Ltd. and Electrum Resources Corporation. Total land area: 4,498 hectares.

Location 

Omineca Mining Division of north-central British Columbia, Canada. One kilometre north of Centerra Gold’s Kemess East deposit.

Target Summary

Historical magnetic, radiometric and induced-polarization surveys, soil and rock geochemical surveys and shallow diamond drilling outline several notable targets for the discovery of a Cu-Au porphyry-style mineral system. The Main Target Area lies one kilometre north of the Kemess East deposit, along the east side of the Kemess East Offset Fault projected northward. Serengeti’s 100% owned UDS property hosts a quartz-sericite-pyrite phyllic alteration zone which was the focus of drilling in 2017, and is interpreted to vector toward the Atty property.

Ownership

Option agreement with Finlay Minerals Ltd. and Electrum Resources Corporation

Project Summary

The Atty property lies within the Toodoggone Mining District, favourably located north and immediately adjacent to Centerra Gold’s Kemess property, host to the past-producing Kemess South open pit Cu-Au mine and the Kemess Underground and Kemess East deposits. Over the past few years AuRico Metals developed Kemess Underground (KUG) through the feasibility-stage and completed a preliminary economic assessment (PEA) on Kemess East (KE). On November 7, 2017 Centerra Gold Inc. acquired AuRico Metals with an aggregate transaction value of C$310 million.

The Atty property is underlain by Hazelton and Takla Group volcanic rocks and intrusive rocks of the Black Lake Suite, the latter of which host the Kemess Cu-Au deposits. The Kemess East deposit, discovered between 2007 and 2014, is a “blind” deep Cu-Au porphyry deposit without any mineralized outcroppings or visually distinctive gossans such as at Kemess Underground. Drilling at Kemess East ranges from 1,000 to >1,500 metres below surface. Kemess East is cut off on the eastern side by the Kemess East Offset Fault, which is believed to have transposed a portion of the deposit toward the north.

The Main Target Area at Atty, which was the locus of interest to Serengeti, may host the faulted eastern portion of the Kemess East deposit, which may occur in the vicinity of the Atty Gossan and Kem showings, as well as the anomalies outlined in the 2007 Titan IP data.

Atty hosts several mineral occurrences including the Awesome showing – a large epithermal quartz vein breccia zone with precious metal potential. This showing has never been drilled. North of the Kemess East deposit the Atty Gossan Zone, a geochemical and IP target, was drilled by Finlay Minerals in 2004. Seven drill holes ranging up to 300 metres deep intersected Takla volcanics with local disseminated pyrite, magnetite and weak, sporadic copper and zinc mineralization. However, based upon the deep drilling at Kemess East and reevaluation of Induced-Polarization (IP) data, it is evident that drilling in 2004 was too shallow and possibly peripheral and north of the intrusive mineralizing source. This new target area lies between the Atty Gossan Zone and the claim boundary with Centerra and is now called the Main Target Area.

Plans Moving Forward

Future work anticipated for the Atty property includes additional Induced-Polarization deep geophysical surveys to better define exploration targets, as well as a geochemical reanalysis of the 2004 drill core and additional surface mapping. A significant exploration program is planned on the property for 2018 with the goal of drill-testing the targets in the future.  

Location and Infrastructure

The Atty property is located eight kilometres north of the Kemess South mining camp which includes a large facility with bunkhouses, mill site, airstrip, all weather road and power line from Mackenzie B.C. The property is accessed via the Omineca Resource Access Road and tributaries, or by helicopter from Kemess.

History

1929: D.W. Chisholm ‐ staked a claim near the western boundary of the Atty Claim Group.

1969: Kennco Explorations (Western) Ltd. – small soil geochemical program in area of AT 1 and 2 claims.

1978: Bishop Mines Ltd. ‐ geochemical, magnetic and VLF surveys on AT 1 and 2.

1979: ABM Mining ‐ airborne Mag/VLF survey over the southern part of the property.

1980: Inca Resources Ltd. ‐ mapping, rock sampling and VLF surveys in the southern area of the Atty claims

1981: Texasgulf Canada Ltd. ‐ mapping, rock sampling and prospecting in southern part of the Atty property.

1982: Kidd Creek Mines Ltd. ‐ trenching, rock sampling, prospecting and mapping in the southern half of Atty.

1988: Canadian Venture Corporation ‐ airborne Mag/VLF‐EM in the area of tenure 515193.

1989: Moondust Ventures ‐ reprocessed 1988 airborne survey data.

1990: Electrum Resources Corporation ‐ mapping, hand trenching and rock sampling in AT 1 and 2 areas.

1992: Electrum ‐ staked Atty 5 and 6 claims and reconnaissance silt, soil and rock sampling.

1994: Electrum ‐ rock and stream sediment geochemistry, VLF‐EM surveys on the Atty 5, 7.

1995: Electrum ‐ soil and rock chip sampling, VLF‐EM surveys northern part of property.

1997: Electrum ‐ stream, soil, rock chip sampling, magnetic and VLF‐EM surveys on southern part of Atty.

1998/99: Electrum – soil, rock sampling, some preliminary geological work.

2000: Electrum ‐ delineated coincident Cu‐Au‐Zn soil and magnetic‐IP anomaly (Atty Gossan).

2001: Electrum ‐ Atty Gossan soil/rock geochem, IP survey. Awesome Showing soil/rock sampling.

2002: Electrum ‐ hand trenching, blasting, rock sampling and geological mapping at Awesome Showing and northern part of the property (Wrich area).

2004: Finlay Minerals Ltd. ‐ seven-hole (1,653 m) diamond drilling program on the Atty Gossan Zone, soil – IP surveys on Awesome Showing, prospecting‐sampling in the Wrich area.

2007: Finlay Minerals Ltd. – Titan 24 IP survey on a 2.4 km east‐west line near south property boundary.

2013: Finlay Minerals Ltd. – prospecting and sampling along new access road constructed by AuRico Gold to connect the Kemess Underground and East deposits. Ridge top prospected south of the Titan IP survey line in area of small gossan. (Assessment Report – 34407)

2015: Prospecting and Geochemical sampling (Assessment Report35865)

2016: LiDAR Survey (Assessment Report – 36672)

Property geology

Mesozoic arc-related volcanic rocks comprising the eastern margin of the Intermontane Belt underlie the district over an area measuring 100 by 40 kilometres. The oldest rocks in the belt are Permian Asitka Group limestones and tuffs. Lower – Middle Jurassic Hazelton Group extrusive volcanic and sedimentary units unconformably overlie Takla Group units below; and overlapping all assemblages to the west are upper Cretaceous Sustut Group sediments. Intrusive rocks are prevalent in the area and have been categorized as late Triassic Alaskan-type ultramafics such as pyroxene diorite, hornblende gabbro and pyroxenite composition. Economically more significant are early Jurassic intrusives of the Black Lake Suite, which are represented by granodiorite, hornblende diorite, pyroxene quartz-diorite, quartz-monzonite and quartz monzodiorite and outcrop on the ridge south of the property.

Local to the Atty area are the Kemess East Offset, Duncan, Saunders and Finlay Faults, which trend north-northwest and display normal block faulted movement. Thrust faulting interpreted as Eocene or younger is also present in the area with displacement believed to be towards the northeast affecting rocks from the Takla up to Sustut sediments.

Other notable target areas within the Atty and UDS combined land package include the Awesome, Kem, Attycelley, Fog and Mess showings, all of which display high-level alteration and polymetallic mineralization, characteristics typically associated with porphyry systems. Furthermore, Serengeti’s 2017 UDS drilling campaign resulted in the identification of an intense quartz-sericite-pyrite alteration zone open to the northwest and potentially extending onto the Atty property, now part of the combined land package

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