Serengeti Resources Inc

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Creating Value Through

After 30 years of discovering and delineating mineral deposits in several countries around the world, it was no surprise when Serengeti Resources asked David Moore to come aboard and help rejuvenate the company. As President and CEO over the past four and a half years, Moore has done just that. Bringing expertise in grassroots prospecting, as well as business management and development, Moore has proven his ability to recognize exploration targets and transform them into successful projects.

Based in Vancouver, British Columbia, Serengeti Resources is a mineral exploration company, focusing on copper-gold. Moore’s team consists of about six full-time staff, but he employs several contractors when the projects require special expertise, such as geophysics, geochemistry and drilling.

Grassroots exploring
If you ask Moore where his team’s strengths lie, he would have to say it’s in the grassroots exploring.

The grassroots stage is the initial part of the exploration when the outcome is uncertain. That’s when Serengeti develops a concept about a favourable area. At that point, they collect and synthesize all the geoscientific information to support their idea.

“Developing target areas and applying various techniques, we identify our drill targets,” says Moore. “Then we go out and drill the areas, hoping to make mineral deposit discoveries. That’s the grassroots process.”

In Canada, this stage is usually carried out by junior mining companies like Serengeti. “It’s something that used to be done by major companies, but more and more it’s being carried out by junior mineral exploration companies,” explains Moore. “We’re the ones taking the big risks but of course with big risks come the potential of big rewards.” What happens next depends on what Serengeti wants to do. Though, admittedly, the eventual outcome requires other expertise. If they want, Serengeti can take their projects all the way through to production, but it’s unlikely. Rather, the company will likely sell their project to a bigger company and move on to the next project.

“For a junior explorer, the success is in discovering and developing the asset. After that, we bring the project to the point that it becomes potentially attractive as a takeover candidate.”

Kwanika project
One of their most successful projects to date is the Kwanika property, Serengeti’s current focus and Moore’s pride and joy. Discovered just over two years ago in north-central British Columbia, Moore and his team have made a significant copper-gold discovery. The entire Kwanika property comprises approximately 9,400 hectares of mineral claims situated in the Quesnel Trough, between the Kemess Mine and the Mount Milligan deposit.

“We’re very proud to have found something new with such high potential,” Moore says. “It’s not something that happens every day in this business, so we’re quite excited about it. It’s what we’ve invested much of our resources into over the last couple of years. In fact, we’ve completed the principle aspects of the field work on it, such as drilling, and we’re working on quantifying what we’ve found. That should be coming out here in the near future.”

By near future, Moore means any day now.

Community
While working away on various of its projects, Serengeti is always mindful of its surrounding community. Even though north-central British Columbia is sparsely populated, there are a few First Nations communities living within 50 kilometres of the project. Serengeti has gone out of its way to build relationships with the people in these villages. In fact, the company is a significant employer of many of these individuals.

“We have a great working relationship with the First Nations people,” explains Moore. “We think it’s important to include those around us in our plans. When we started out, we conducted surveys amongst the First Nations community, interviewing their elders and getting their assistance. We wanted to hear their concerns and cultural subsistence issues, so that if we’re successful we can mitigate adverse effects. It’s a critical part of the business.”

On top of concern for the people in surrounding communities, Serengeti is interested in helping businesses in the area as well. Frequenting Fort St. James, the nearest town to the project, Serengeti always tries to do as much business there as possible to support the local economy.
“Last year, we were awarded the Prospector of the Year for 2008 by the Northern B.C. Business and Technology Council. I believe one of the reasons we were presented with that award was because of our positive interaction with local communities and businesses.”

Looking ahead
Moving forward, Serengeti Resources will continue to be mindful of the present, yet hopeful for the future. “The financial landscape that we’re operating under has changed rather dramatically over the last six months, as it has for a lot of businesses,” says Moore. “The economy has definitely affected us. So we are first and foremost careful to maintain the integrity of our financial resources. We’re tightening our belt.”

“Having said that, the major expenditures are behind us,” Moore continues. “We will continue to add value to our Kwanika project. Serengeti may well conduct more exploration around the deposit and test other targets. Hopefully we will make new discoveries and add to the project value.” Beyond Kwanika, there’s a lot of work to be done in north-central British Columbia. In fact, Serengeti has the mineral rights to about 2,500 square kilometres in their region.

“With that land, we’re obligated to work on it. You can’t just acquire it and leave it. It comes with a responsibility, so that’s the plan for Serengeti Resources. We will be striving to make new discoveries. Right now, we’re planning to drill on several additional properties later this year and carry on through the summer. We’ll test our best targets and see if we can’t get lightening to strike twice.”

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