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Serengeti Resources Inc. (SIR) |
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CEOCFO
Interview Index |
This is a printer friendly page! Serengeti
Resources’ new acquisition is a further step in its strategy of acquiring high
potential exploration targets in the porphyry copper-gold belt of north-central BC
Mr. Moore: “What brought me to Serengeti were some of the key investors. Some long term and substantial investors approached me last spring when I became available from my previous employer. I was attracted by the loyalty of the shareholders and the potential to rebuild the company.” CEOCFOinterviews: What is the focus for Serengeti? Mr. Moore: “Serengeti is a junior explorer that we have repositioned in British Columbia with a current focus on porphyry copper - gold prospects. We have one active ongoing gold and silver project in north coastal British Columbia, and five recent acquisitions in north-central British Columbia’s copper-gold belt. The target is a large high grade copper and gold deposit in what we see as a very favorable jurisdiction.” CEOCFOinterviews: What do you look for when you choose a property? Mr. Moore: “We have focused on British Columbia because we see good opportunities. There has always been tremendous geological potential in British Columbia but over the last ten years, it has not been the best area to explore. All of that began to change in the last few years, with the change of government. It is now a much more favorable exploration and mining climate and programs like super- flow- through shares make it attractive for individuals to invest in junior explorers in the province. There is a tremendous database of information that is available to the public and it is working through that database that we have generated these targets. What we have focused on are areas where the prior work has shown significant size and potential mineral systems which have not been explored to depth.” CEOCFOinterviews: What potential did you see in these particular properties? Mr. Moore: “What we look for more than anything is the size of the system or target, in other words we are looking for something with a large foot print. If we see signs in the geology, or certain geophysical or geochemical signatures, these are the criteria we look for.” CEOCFOinterviews: You mentioned you had a gold and silver project that is being worked on. Will you tell us about that, and what is the timeline for the other five projects? Mr. Moore: “We are currently compiling the results of the summer’s mapping, prospecting and sampling program on the Tide gold-silver project which is a joint venture with Rimfire Minerals Corporation (RFM-TSXV). We will be initiating a four to six hole drill program here in mid September, following up a number of targets generated by the summer program. This project is in the Stuart - Eskay Creek area of north coastal British Columbia. The porphyry copper –gold portfolio is the emerging strategic focus for the company. What we are doing on these targets is compiling all of the prior work. The follow up on these projects will be deep penetrating induced polarization or IP geophysics to explore them to depth. We will then follow that up with diamond drilling. A number of these targets have been drilled in the past but only with shallow holes. Our approach will be targeting these big mineral systems with deeper holes. This is an approach that has resulted in real success by other explorers in the belt.” CEOCFOinterviews: Are you funded for this? Mr. Moore: “We are funded for the work on the Tide project including the drilling. We have just completed a modest financing of two hundred thousand dollars for operating expenses which will also fund the compilation work I mentioned above. In terms of the IP work and potential drilling on these porphyry properties we will be looking ahead to the fall and winter season to raise additional funds likely on a flow-through basis; I would anticipate at a higher share price.” CEOCFOinterviews: Are you currently looking at potential exploration projects? Mr. Moore: “We are always looking. Our most recent acquisition was the Choo property. We own 100% of this property making it easy to maintain and advance as are the other five prospects that my partner and I vended into the company. We also foresee excellent potential for identification of additional targets in the belt.” CEOCFOinterviews: The Choo Property is road accessible; is that important for you? Mr. Moore: “Near road access is important from an exploration cost standpoint and for eventual production. The belt that we are in is accessible via what is called the Omineca mining road that provides access to Northgate Minerals Corporation’s (NGX-TSX) Kemess copper-gold mine. The targets we are looking at are either accessible directly by road or via a short helicopter flight from the road. We are mindful of exploration costs and eventual production costs.” CEOCFOinterviews: You mentioned British Columbia being conducive to exploration, how does the price of gold fit in to the picture? Mr. Moore: “The price of gold and copper are encouraging the level of exploration activity not just in the province but globally. It is a combination of favorable metal prices and a favorable jurisdiction. For instance, in British Columbia there are statistics that indicate a 90% increase in claim staking in the first three months of 2004. The government policies, the prices in general, and the investment climate, have led to a real resurgence of exploration. Of course higher metal prices also mean higher prices for properties as well. It is a more competitive environment on the acquisition front.” CEOCFOinterviews: In closing, there are other companies similar to yours, why should investors be looking at Serengeti? Mr. Moore: “That is something that we were mindful of as we developed the strategy for the company. We needed to differentiate ourselves. I looked around and there are many gold explorers. I think there are fewer copper and gold explorers. Exploration is my strong suit, given my background of thirty years experience. Some of the other people that have come along with me to Serengeti have equally strong and successful backgrounds on the exploration and development front, like George Tikkanen, who has also joined the board of Serengeti. George has over forty years of experience in the mining and exploration business. The key geological consultant that I have working with me, and a partner in the early stage properties, is an expert on copper and gold exploration. Why Serengeti? It is because of the people, our track record of discovery, the strategic focus and a growing portfolio of attractive properties. These factors should heighten the potential for success.” disclaimers |
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