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Canada
Kwanika Project

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 Location:
140 NW from Fort St. James, British Columbia, Canada

  Project Contacts:
Suite 520, 800 West Pender Street
Vancouver
British Columbia, Canada
V6C 2V6
Phone  ...  Subscription required
Fax+1-604-605-3075
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit / Underground
Commodities
  • Copper
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
  • Block caving
Processing
  • Flotation
Mine Life15 years (as of Jan 1, 2017)
Latest NewsSerengeti Drills 698 Metres of 0.40% Cu, 0.65 g/t Au (0.80% CuEq) Including 124 Metres of 0.70% Cu, 2.10 g/t Au (1.96% CuEq) in Infill Hole at Kwanika     December 16, 2020


Owners

Source:
CompanyInterestOwnership
POSCO DAEWOO Corp. 35 % Indirect
Serengeti Resources Inc. 65 % Indirect
Kwanika Copper Corp. 100 % Direct
Kwanika Copper Corporation is jointly held by Serengeti Resources Inc. (SIR; 65%) and POSCO DAEWOO Corporation (PDC; 35%).

Deposit Type

  • Porphyry
  • Vein / narrow vein


Summary:

The Kwanika Project consists of two mineralized areas: Central Zone and South Zone. In the Central Zone the most economically significant intrusive body is a north-northeast trending monzonite stock that dips shallowly to steeply to the west. The intrusion has a strike length of nearly 1.3km and a thickness of 50m to 350m. The high-grade copper- gold mineralization (>0.6% copper equivalent (CuEq) in the Central Zone is dominantly hosted within, and immediately adjacent to, the monzonite intrusive. Monzonite has also been intersected at depth in the western and southwestern parts of the Central Zone and is thought to connect to the sill-like body in the central part of the deposit, suggesting the possibility of deep Central Zone mineralization.

The South Zone occurs within a fault bounded sequence of strongly altered intrusive rocks of alkalic to intermediate composition. The host lithologies occur within a north-south trending structural corridor. This structural corridor is bounded by the West Fault to the west and by a similar fault zone termed the East Fault along the eastern boundary of the corridor. Coincident chargeability and resistivity anomalies form a geophysical domain that represents the fault- bounded South Zone corridor. This variably mineralized domain is 2,900m long and up to 500m wide.

Copper and gold mineralization in the Central Zone at Kwanika occurs primarily in potassically and albitically altered lithologies. Alteration and mineralization grade outwards from a strong to intensely potassically and albitically altered, strongly mineralized core zone to a variably propylitically altered, weakly mineralized periphery. Hypogene mineralization is controlled by several generations of quartz + sulphide veining, with the highest copper and gold grades occurring in areas of quartz stockwork. A supergene enrichment blanket has been superimposed on the upper surface of the hypogene mineralization in the Central Zone.

The South Zone is characterized by porphyry style copper + gold + molybdenum + silver mineralization within monzonite, quartz monzonite, and monzodiorite with primary mineralization comprised of fine to coarse grained chalcopyrite disseminations and molybdenite mineralization along fractures and quartz selvages and, less commonly, disseminated blebs associated with pyrite and chalcopyrite. Enrichment is associated with brecciated zones that have undergone secondary K-feldspar flooding and/or intense pyrite + chlorite + silica alteration.

The Central Zone deposit is similar in characteristics to both the classic alkali porphyries in that the mineralization is associated with an intrusive complex of alkali- feldspar-saturated monzonite and the calc-alkalic porphyry type deposits in that the mineralization is associated with strong quartz stockwork.
The South Zone deposit is a structurally controlled porphyry deposit with quartz monzonitic to quartz monzodioritic host lithologies.


Mining Methods

  • Truck & Shovel / Loader
  • Block caving


Summary:

A production schedule based on a 15,000t/d mill feed rate has been developed for the Kwanika Project. The mine production is based on both Open Pit and underground Block Cave mining methods. The Life of Mine (LoM) plan starts mining two open pit phases in Central Zone while access and level development are established for the Block Cave beneath the open pit in the Central Zone. The final stage of mining is from 3 open pit phases in South Zone.

This is a contractor-operated Open Pit mining fleet and underground development mining fleet with an owner’s fleet planned for underground mucking and hauling. Contractor mining operating costs have been included. Capital costs for the contractor fleets are included in the operating cost. The purchase cost of the underground loaders and trucks are included as a capital expense.


Crushing and Grinding


Processing

  • Flotation

Source: Subscription required

Summary:

A conventional copper-gold flotation process is proposed for the Kwanika project including crushing, grinding, and multi-stage froth flotation to produce a copper concentrate with gold and silver credits.

Recoveries & Grades:

CommodityParameterAvg. LOM
Copper Recovery Rate, %  ......  Subscription required
Copper Head Grade, % 0.36
Gold Recovery Rate, %  ......  Subscription required
Gold Head Grade, g/t 0.38
Silver Recovery Rate, %  ......  Subscription required
Silver Head Grade, g/t 1.4
Subscription required - Subscription is required.

Projected Production:

CommodityUnitsAvg. AnnualLOM
Copper k lbs 40,042600,635
Gold koz  ......  Subscription required  ......  Subscription required
Silver koz  ......  Subscription required  ......  Subscription required
All production numbers are expressed as metal in concentrate.

Operational Metrics:

Metrics
Daily milling rate  ......  Subscription required
Stripping / waste ratio  ......  Subscription required
Tonnes milled, LOM  ......  Subscription required
Annual processing rate  ......  Subscription required
* According to 2017 study.

Reserves at December 14, 2018:

CategoryOreTypeTonnage CommodityGradeContained Metal
Measured In-Situ (UG) 18.7 Mt Copper Equivalent 0.58 %
Measured In-Situ (OP) 24.2 Mt Copper Equivalent 0.51 %
Measured In-Situ (OP) 24.2 Mt Copper 0.34 % 179 M lbs
Measured In-Situ (UG) 18.7 Mt Copper 0.36 % 151 M lbs
Measured Total 42.9 Mt Copper 0.35 % 330 M lbs
Measured In-Situ (OP) 24.2 Mt Gold 0.33 g/t 254 koz
Measured In-Situ (UG) 18.7 Mt Gold 0.4 g/t 239 koz
Measured Total 42.9 Mt Gold 0.36 g/t 493 koz
Measured In-Situ (OP) 24.2 Mt Silver 1.07 g/t 833 koz
Measured In-Situ (UG) 18.7 Mt Silver 1.15 g/t 692 koz
Measured Total 42.9 Mt Silver 1.1 g/t 1,525 koz
Measured Total 42.9 Mt Copper Equivalent 0.54 %
Indicated In-Situ (UG) 100.2 Mt Copper Equivalent 0.44 %
Indicated In-Situ (OP) 80.4 Mt Copper Equivalent 0.3 %
Indicated In-Situ (OP) 80.4 Mt Copper 0.2 % 360 M lbs
Indicated In-Situ (UG) 100.2 Mt Copper 0.29 % 634 M lbs
Indicated Total 180.6 Mt Copper 0.25 % 994 M lbs
Indicated In-Situ (OP) 80.4 Mt Gold 0.18 g/t 454 koz
Indicated In-Situ (UG) 100.2 Mt Gold 0.27 g/t 884 koz
Indicated Total 180.6 Mt Gold 0.23 g/t 1,338 koz
Indicated In-Situ (OP) 80.4 Mt Silver 0.69 g/t 1,784 koz
Indicated In-Situ (UG) 100.2 Mt Silver 0.92 g/t 2,964 koz
Indicated Total 180.6 Mt Silver 0.82 g/t 4,748 koz
Indicated Total 180.6 Mt Copper Equivalent 0.38 %
Measured & Indicated In-Situ (UG) 118.9 Mt Copper Equivalent 0.46 %
Measured & Indicated In-Situ (OP) 104.6 Mt Copper Equivalent 0.35 %
Measured & Indicated In-Situ (OP) 104.6 Mt Copper 0.23 % 540 M lbs
Measured & Indicated In-Situ (UG) 118.9 Mt Copper 0.3 % 784 M lbs
Measured & Indicated Total 223.6 Mt Copper 0.27 % 1,324 M lbs
Measured & Indicated In-Situ (OP) 104.6 Mt Gold 0.21 % 708 koz
Measured & Indicated In-Situ (UG) 118.9 Mt Gold 0.29 g/t 1,123 koz
Measured & Indicated Total 223.6 Mt Gold 0.25 g/t 1,831 koz
Measured & Indicated In-Situ (OP) 104.6 Mt Silver 0.78 g/t 2,617 koz
Measured & Indicated In-Situ (UG) 118.9 Mt Silver 0.96 g/t 3,656 koz
Measured & Indicated Total 223.6 Mt Silver 0.87 g/t 6,273 koz
Measured & Indicated Total 223.6 Mt Copper Equivalent 0.41 %
Inferred In-Situ (UG) 84.7 Mt Copper Equivalent 0.27 %
Inferred In-Situ (OP) 5.7 Mt Copper Equivalent 0.23 %
Inferred In-Situ (OP) 5.7 Mt Copper 0.16 % 20 M lbs
Inferred In-Situ (UG) 84.7 Mt Copper 0.17 % 319 M lbs
Inferred Total 90.4 Mt Copper 0.17 % 339 M lbs
Inferred In-Situ (OP) 5.7 Mt Gold 0.13 g/t 25 koz
Inferred In-Situ (UG) 84.7 Mt Gold 0.18 g/t 480 koz
Inferred Total 90.4 Mt Gold 0.17 g/t 504 koz
Inferred In-Situ (OP) 5.7 Mt Silver 0.65 g/t 119 koz
Inferred In-Situ (UG) 84.7 Mt Silver 0.6 g/t 1,634 koz
Inferred Total 90.4 Mt Silver 0.6 g/t 1,753 koz
Inferred Total 90.4 Mt Copper Equivalent 0.26 %

Commodity Production Costs:

CommodityUnitsAverage
C1 cash costs Copper CAD 1.2 / lb *†
Assumed price Copper USD 2.9 / lb *
Assumed price Silver USD 19 / lb *
Assumed price Gold USD 1,270 / lb *
* According to 2017 study / presentation.
† Net of By-Product.

Operating Costs:

Units2017
OP mining costs ($/t mined) CAD 2.97 *
UG mining costs ($/t mined) CAD  ......  Subscription required
OP mining costs ($/t milled) CAD  ......  Subscription required
UG mining costs ($/t milled) CAD  ......  Subscription required
Combined mining costs ($/t milled) CAD  ......  Subscription required
Processing costs ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2017 study.
Subscription required - Subscription is required.

2017 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
OP OpEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 0.7
G&A costs $M CAD 0.2
Total OpEx $M CAD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 5% $M CAD  ......  Subscription required
Pre-tax NPV @ 10% $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 10% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Proposed Heavy Mobile Equipment as of April 19, 2017:
HME TypeSizeQuantity
ANFO Loader 1
....................... Subscription required 1
....................... Subscription required 3
....................... Subscription required 1
....................... Subscription required ....................... Subscription required 2
....................... Subscription required ....................... Subscription required 6
....................... Subscription required 5
....................... Subscription required ....................... Subscription required 8
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2020
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2020
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2019
Preliminary Economic Assessment 2017
Subscription required - Subscription is required.

News:

NewsDate
Serengeti Drills 698 Metres of 0.40% Cu, 0.65 g/t Au (0.80% CuEq) Including 124 Metres of 0.70% Cu, 2.10 g/t Au (1.96% CuEq) in Infill Hole at Kwanika December 16, 2020
Serengeti Announces Kwanika Copper Renews Agreement with Takla Nation September 29, 2020
Serengeti Announces Oversubscription and Closing of its Non-Brokered Hard Dollar Private Placement, Receipt of $1.08 Million METC Refund and Attendance at VRIC Conference January 16, 2020
Serengeti Announces Closing of the Second Tranche of its Flow Through Private Placement December 19, 2019
Serengeti Announces Non-Brokered Flow-Through Private Placement December 12, 2019
Serengeti Announces Closing of $700,000 Loan Financing September 17, 2019
Serengeti Announces $700,000 Loan Financing September 4, 2019
Serengeti Announces Flow Through Share Private Placement April 24, 2019
Serengeti Announces Filing of Kwanika Technical Report and Provides Update on the Pre-Feasibility Study April 18, 2019
Serengeti Strengthens & Renews its Board of Directors: Adds Mining and Capital Market Expertise, Diversity April 10, 2019
Serengeti Expands Kwanika Central Zone Mineral Resource – Project Confidence Substantially Increased March 3, 2019
Serengeti Resources Closes Strategic Transaction with POSCO DAEWOO on Kwanika Project November 27, 2017

Aerial view:

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