Mineral Exploration

W inte r 20 17 43 tonnes per day. The Central zone has an indicated resource of 101.5 million tonnes accessible by open pit, containing 697 million pounds copper, 1.04 million ounces gold and 3.1 million ounces silver; and a further 29.7 million tonnes accessible by underground mining, containing 222.3 million pounds copper, 350,000 ounces gold and 1.0 million ounces silver. The South zone has an inferred resource of 33.3 million tonnes accessible by open pit, containing 191.4 million pounds copper, 90,000 ounces gold and 1.7 million ounces silver. In early October, Serengeti announced that it reached an agreement with Daewoo Minerals Canada (DMC) in which DMC would contribute its five per cent interest in Serengeti and $7 million and Serengeti would contribute the balance of its interest to a new joint venture company, the Kwanika Copper Corporation (65 per cent Serengeti, 35 per cent DMC). Along with its joint venture partner, Fjordland Exploration Inc., Serengeti completed a three-hole, 1,200-metre drill program to test a strong IP anomaly on its Milligan West property. Serengeti also completed a three-hole, 1,140-metre program nearby, on its UDS property. Amarc Resources Ltd. acquired the right to purchase 100 per cent of Cascadero Copper's and Gold Fields Toodoggone Exploration Corporation's PINE property near its JOY property, and completed a farm-in agreement with Hudbay Minerals Inc. on the JOY property. Under this agreement, Hudbay committed to a multi-year drilling program by the end of 2020, with Amarc as the operator. Drilling on JOY began in August; assay results were expected in November. Pacific Empire Minerals Corp. completed a five-hole, 1,080-metre drilling program on its Pinnacle Reef (formerly Later) property. Lorraine Copper Corp. optioned its Lustdust property to 1124245 BC Ltd., which conducted a 40-line-km IP program and about 500 metres of drilling in three holes. MGX Minerals Inc. planned five 150-metre boreholes on its Fran copper-gold porphyry project. Polymetallic base and precious metals Canada Zinc Metals Corp. completed an eight-hole, 4,700-metre drill program at its Cardiac Creek deposit in its Akie project area, aimed at extending the resource. The company commissioned a structural interpretation of satellite imagery over its properties. The interpretation identified predominantly northeast-vergent thrust faults, except for a zone along the eastern margin of the area with structures that verge southwest, and major transverse faults. Forty- one new exploration targets were identified.

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