Serengeti stakes multiple targets in British Columbia following Geoscience BC Search III Data

— Photo courtesy Serengeti Resources Inc.

VANCOUVER, British Columbia, March 01, 2018 (GLOBE NEWSWIRE) -- Serengeti Resources Inc. (TSX-V:SIR) (FSE:34S) ("Serengeti" or "the Company") announces the staking of eight new mineral properties resulting from data generated as part of the Geoscience BC Search III program released January 23rd, 2018. Following the release, Serengeti staked a total of 7,670 hectares in north-central BC based on the new high-resolution magnetic and K/Th radiometric data available. A first-pass exploration program is planned for 2018 on all eight properties to prioritize the properties and develop the best strategy for future exploration targeting.

Arjay is located twelve kilometres west of Johanson Lake within a wedge of Takla Group volcanic rocks intruded by Early Jurassic quartz-diorite plutons. Numerous MINFILE occurrences at Arjay report native copper within volcanics on the property, in addition to bornite, chalcopyrite, chalcocite and tetrahedrite within shear zones. The high-resolution Search III data identified a strong magnetic anomaly over the Arjay area with notable spherical highs, and K/Th radiometric data outlines several distinctly anomalous areas that may represent hydrothermal alteration assemblages.

The Far East – LaForce property is located 18 kilometres east of the past-producing Kemess South open pit along the underexplored contact between an Early Jurassic intrusive batholith and Takla Group volcanics. Results of the Search III survey shows a distinct elongated magnetic anomaly truncated on the southern and eastern margins, as well as several discreet high K/Th radiometric anomalies characteristic of potassic alteration assemblages. A regional geochemical survey stream sediment sample taken on the Far East – LaForce property assayed 110ppm Cu and 200 g/t Ag. Work in the area has yielded grab sample results up to 6.8 g/t Au on a property currently held by a third party, and the area may represent a possible source for the McConnell Creek placer gold deposits.

The TrUM property was staked based on highly anomalous nickel and cobalt geochemical values draining a prominent Late Paleozoic to Triassic ultramafic plug highlighted by the Search III magnetic dataset. Notable stream sediment values on the property include 1,177 ppm Ni and 87 ppm Co, both of which occur within the top 50 strongest nickel and cobalt values from the regional geochemical surveys province-wide. TrUM occurs within an area that has not had any previous exploration for ultramafic-hosted nickel-cobalt systems despite permissive geological features.

Five additional properties were staked following the Search III data release and a review of regional geochemical data and historical work reports. All properties host anomalous magnetic and K/Th radiometric responses that were relatively undefined in previous airborne surveys and each property has the potential for the discovery of porphyry Cu-Au and in one case ultramafic Ni-Co style systems.

Serengeti President & CEO, David W. Moore stated, “Use of this new public data-set has enabled Serengeti to acquire properties with excellent exploration potential, that may have been overlooked during earlier work, in a very cost-effective manner. We look forward to getting boots on the ground on these targets this coming field season.”

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 Kwanika copper-gold project in partnership with POSCO Daewoo Corporation and exploring its extensive portfolio of properties in the highly prospective Quesnel Trough of 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.