subpage banner1

Image of Treaty Creek’s
West Nunutak in the foreground and
Seabridge Gold’s KSM-Iron Cap in the background

 

December 15, 2011                                                                                                                     click here for PDF                                                                          

American Creek Resources Ltd. (TSX-V:AMK; OTCBB:ACKRF) is pleased to announce initial results from the 2011 exploration program conducted on its 100% owned Electrum Property near Stewart, B.C.  This program has significantly expanded a zone of gold mineralization along with intersecting epithermal veins (grading as high as 3.03 g/t Au with 538 g/t Ag) in the first two holes.  This disclosure is based on assay data received to date and on mapping and observations while logging core.  More assay results are forthcoming.

Frank O’Grady, P.Eng., is the senior geologist for the project and the Qualified Person pursuant to NI 43-101.  Mr. O’Grady is a geologist and mining engineer with extensive experience at operating and pre-production phases of mining.  His experience includes engineering, management, and supervision.  Additionally he has worked as an exploration geologist in several geological environments including narrow vein gold environments.  His approach to the 2011 Electrum program is focusing on defining a low-grade bulk tonnage section that has potential to be mined, and having the high-grade epithermal veins add value to the project.

In 2010 American Creek had planned a 10,000m program to advance the Electrum project.  This program was updated and refined by SRK Consulting and Mr. O’Grady to use the first 5,000m in identifying a potential open pit area crosscutting epithermal veins.  This open pit model has been used at the Big Missouri and Premier mines located 14 and 18km down the haul road from the Electrum.  This model also employs a more efficient use of limited drilling given that only 2,105m of the planned 5,000m were completed due to budgetary constraints.

The significance of continuing to intercept the stockwork (porphyry) previously found on the Electrum is due to the exceptional logistics of the property.  A well-developed 40km road directly links the property to the bulk tonnage shipping terminals in Stewart.  Electrical power lines come within 18 km of the property and can be continued along the existing haul road.

The historically mined epithermal vein on the property (East Gold Mine) produced 2,443 oz of gold and 3,817oz of silver from 45 tons of hand selected ore (pre NI 43-101).  In surface sampling and in previous drilling American Creek has intercepted similar high-grade veins that would significantly add value to a low-grade resource.


Program Objectives

With this in mind, the objectives of the 2011 program designed by SRK Consulting and Mr. O’Grady were to:

1.      Determine if the lower grade gold values present in a quartz stockwork similar to that found in Hole EL06-17 drilled in 2006 are present over a significant portion of the property.  Hole EL06-17 returned assays of 0.42 g/t Au and 2.10 g/t Ag over 142.5 meters.

2.      Determine if the higher grade gold values in epithermal veins are present along strike and down dip from their surface showings. 

The two objectives were pursued by geological mapping and diamond drilling.

A total of seven diamond drill holes were completed.  Holes El11-748, 756, and 746 were deep holes designed to confirm the trend of a shear/alteration zone and test for stockwork at depth.  Holes EL11-747, 762, 759, and 761 were designed to confirm continuity of vein mineralization identified on surface down-dip and along strike, and to test for stockwork.  Assay results have been received for two holes, while final results for the remaining five holes are pending.

The diamond drill holes from north to south are:

Hole #

Total Depth (meters)

Final Results

Co-ordinates

(approx.)

EL11-748

346

Final Assays not received

6238080N,  433750E

EL11-747

324

Final Assays not received

6237940N,  433747E

EL11-762

175

Final Assays not received

6237880N,  433800E

EL11-756

263

Final results received

6237858N,  433801E

EL11-759

278

Final Assays not received

6237858N,  433801E

EL11-761

230

Final Assays not received

6237858N,  433801E

EL11-746

486

Final results received

6237735N,  433780E

 

Stockwork

Geological mapping successfully delineated a zone of quartz stockwork extending north of Hole EL06-17 over an area of approximately 200 meters by 200 meters.  This stockwork is open to the west and may extend to the edge of the property approximately 500 meters in that direction, as there is evidence of similar stockwork on the west-bounding Tide Property (owned by American Creek and Kiska Metals).

Hole EL11-746 successfully defined the southern extent of the stockwork style mineralization as far as can be interpreted with present data from mapping and drill core.  There was some minor stockwork in this hole and accompanying lower grade values which likely indicates the southern boundary of the deposit.

Hole EL11-756 is situated approximately 50 meters north of the previously mentioned Hole EL06-17 (2006).  Two zones of stockwork carrying gold values were encountered.

Sample #

From

T0

Interval

(m)

Au

grams/tonne

Ag

grams/tonne

L624589

100

102

2

3.6

4.5

L624590

102

103.65

1.65

1.14

5.6

L624591

103.65

104.08

0.43

0.57

7.5

This results in a weighted average of 2.29 grams/tonne Au and 5.26 grams/tonne Ag over 4.08 meters.

Sample #

From

T0

Interval

(m)

Au

grams/tonne

Ag

grams/tonne

L624625

159

161

2

1.1

3.4

L624626

161

163

2

0.96

3.2

L624627

163

165

2

1.14

2.4

L624628

165

167

2

0.65

2.7

L624629

167

169

2

0.45

2.4

L624630

169

171

2

0.93

2.7

L624631

171

173

2

0.44

3.2

L624632

173

175

2

1.72

2.0

L624633

175

177

2

1.85

7.5

L624634

177

179

2

1.23

5.3

L624635

179

181

2

1.32

3.1

L624636

181

183

2

0.51

0.3

This results in a weighted average of 1.03 grams/tonne Au and 3.18 grams/tonne Ag over 24 meters.


Visual results from Hole EL11-759 drilled at a declination of 63 degrees and Hole EL11-761 drilled at a declination of -28 degrees from the same location as Hole EL11-756 indicate the presence of quartz stockwork similar to the stockwork carrying the values in Hole EL11-756.  Quartz stockwork was visually noted during logging of Hole EL11-747 from 73 meters to 183 meters (total 110 meters).  Results of assays for these two holes are pending.


Epithermal Veins

In Hole EL11-746 an anticipated hydrothermal vein was encountered with the following values:

Sample #

From

T0

Interval (m)

Au grams/tonne

Ag grams/tonne

L624301

47.55

48.32

0.77

4.71

139

L624302

48.32

49.12

0.80

3.03

538

This results in a weighted average of 3.8 grams/tonne Au and 342 grams/tonne Ag over 1.57 meters.


As previously mentioned, Hole EL11-746 defines the southern extent of the quartz stockwork zone as far as can be interpreted with present data from mapping and drill core.  However, it did intersect a surface mapped epithermal vein along strike and at depth.

Hole EL11-748 was designed to determine if the epithermal vein known on surface as the Shiny Cliff Zone is present at depth.  Historically, grab samples from the Shiny Cliff Zone have returned a value of 12.21 g/t Au in a non-NI 43-101 compliant sample.  Visual observation during logging of this hole identified what is considered the Shiny Cliff Zone over a 2.2 meter section from 64.9 meters to 67.1 meters.  The mineralization is similar to the surface showing of the Shiny Cliff Zone in that it is composed of approximately 40% fine grain massive pyrite.  Assay values for this hole are forthcoming.


Conclusions

American Creek is very pleased with the success of the 2011 program in that:

1.       The known zone of Au carrying quartz stockwork has been significantly expanded while remaining open to the West with evidence that it may extend 500 meters to the western edge of the property.

2.      Epithermal veins carrying rich Au and Ag values at surface continue to be intersected by drilling.  These veins may play a significant role in adding to the value of a potential low-grade bulk tonnage deposit.

“We are very pleased with the initial results of the 2011 exploration program” states American Creek President Mr. Allan Burton.  “We have initiated a well-planned program following a model that had been successful in nearby past producing mines.  The first two holes indicate that we have accomplished a lot with relatively little drilling.  We are eagerly awaiting the remaining assay results.”

For a short presentation on the Electrum Property click here and to see the 2011 drill map click here or visit  www.americancreek.com. 

Frank O’Grady, P.Eng., is the Qualified Person for the purposes of National Instrument 43-101 for the Electrum Project. Mr. O’Grady has verified and approved the contents of this news release.

American Creek Resourced Ltd. Is a Canadian mineral exploration company focused on the acquisition and development of mineral deposits within the Province of British Columbia, Canada.

For further information on American Creek please contact Darren Blaney at: 403 752-4040 or email: This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.. Information relating to the Corporation is available on its website at www.americancreek.com.

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.