March 31, 2009 TSX-V: AMK
Raymond, Alberta… American Creek Resources Ltd. (TSX-V:AMK) (“American Creek”) is pleased to highlight additional resource expansions announced by Seabridge Gold Inc. (TSX:SEA) (“Seabridge”) on March 25, 2009, on the Kerr and Sulphurets zones at its KSM project located next to American Creek’s Treaty Creek Project in northern British Columbia.
Seabridge reports an increase in their indicated and inferred mineral resources for the Kerr and Sulphurets zones. These zones combined now host an indicated mineral resource of over 3.68 million ounces of gold and 2.5 billion pounds of copper. In the inferred category, resources for these zones combined now total over 3.6 million ounces of gold and 1.2 billion pounds of copper. Measured and indicated mineral resources for Seabridge’s Kerr-Sulphurets-Mitchell project now total 34.5 million ounces of gold and 8.5 billion pounds of copper. Inferred resources total 12.1 million ounces of gold and 2.8 billion pounds of copper. All resources expressed at 0.50 g/t gold equivalent cutoff-grade.
In the Preliminary Economic Assessment released January 8, 2009, Seabridge indicated that it proposes to construct a 21.5 km underground tunnel to transport ore by conveyor from the KSM project, which is south of the Treaty Creek Property, to a mill and tailings pond to be constructed north of the Treaty Creek Property. American Creek reports that approximately 13 km of the proposed tunnel would pass through the Treaty Creek Property, intersecting multiple mineralized zones.
The Treaty Creek Property contains numerous showings of gold-silver-base metal mineralization and widespread hydrothermally altered zones. There are at least three main areas of significant exploration potential on the property: a gold-silver epithermal mineralization within the Treaty Gossan (Eureka); a gold-molybdenum porphyry mineralization (Copper Belle); and a gold-silver-zinc-lead-copper VMS system (GR2). A detailed program, to be announced at a later date, is being designed to continue drill testing these zones.
In March, 2007, American Creek Resources entered into a joint venture with Teuton Resources Corp. (TUO: TSX-V) for the controlling interest in the Treaty Creek property. American Creek was granted an option to earn a 51% interest by spending $5 million on exploration over three years. A further 9% interest (bringing the total interest to 60%) may be earned by funding a positive feasibility study. American Creek is currently ahead of schedule, having spent approximately $4.15 million on exploration to date.
On March 26, 2009, American Creek announced an offering on a non-brokered private placement basis for gross proceeds of up to $1,250,000, to be spent primarily on the Treaty Creek Project. Detailed information on this offering is available at www.americancreek.com.
American Creek is also pleased to announce it has received a permit from the Ministry of Energy, Mines and Petroleum Resources to conduct further exploration on the Treaty Creek Property during the 2009 season.
Raul Sanabria, P. Geo., is the Qualified Person for the purposes of National Instrument 43-101 for the Treaty Creek Project and has verified and approved the contents of this news release.
American Creek Resources Ltd. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold and silver deposits within the Province of British Columbia, Canada.
Certain information contained in this news release constitutes forward-looking statements regarding the Corporation’s mineral properties. Forward looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate" or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the reasonable opinions and estimates of management of American Creek and are subject to a variety of risks, uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include: the inherent risks involved in the exploration and development of mineral properties, uncertainties involved in the interpretation of drill results and other geological data, fluctuating commodity prices, unforeseen permitting requirements, changes in environmental laws or regulations, the possibility of project cost overruns or unanticipated costs and expenses, weather conditions, the availability of contractors for equipment and services, the availability of future financing and general business and economic conditions. Such statements are also based on a number of assumptions which may prove to be incorrect, including assumptions about general business and economic conditions being accurate, the timing and receipt of regulatory approvals for projects and operations, the availability of financing, the ability to secure equipment and labour, and American Creek’s ongoing relationship with third parties. The foregoing factors, risks and assumptions are not exhaustive. Events or circumstances could cause actual events or results to differ materially from those estimated or projected and expressed in, or implied by, these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. These forward-looking statements are as of the date they are made and American Creek disclaims any obligation to update any forward-looking statements, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.