CARDSTON, Alberta--(BUSINESS WIRE)-- American Creek Resources Ltd. (TSX.V:AMK) (the “Corporation”) is pleased to report on results from hole CB-17-24 from JV partner Tudor Gold’s (“Tudor”) 2017 drill program on the Copper Belle zone at the Treaty Creek Project located in the Golden Triangle of northwestern British Columbia.
CB-17-24, a step-out hole drilled this year on the Copper Belle zone, intersected various mineralized zones where the most significant was 115.50 meters of continuous mineralization grading 1.31 g/tonne gold from 60.50 to 176.00 meters depth, including a higher grade intercept of 57m grading 1.97 g/t gold from 111.5 to 168.5m. A second interval occurs deeper in the hole, grading 0.83 g/t over 60m, from 228.5 to 268.50m. Hole CB-17-24 was collared above the ice 166 meters south of CB-16-03. Complete results are pending for the remaining 22 holes.
Drill results for hole CB-17-24 are summarized in the table below:
|Hole-ID||From (m)||To (m)||Interval (m)*||Au (g/t)||Ag (g/t)||Cu (%)|
*True widths of the mineralization have not been determined.
The Copper Belle resource delineation drill program was completed with 27 holes to depths below 700 meters and with step outs of 50 meters where topography permitted. Over 13,722 meters of drilling was completed on the Copper Belle zone in 2017.
Walter Storm, President and CEO of Tudor, stated: “We are learning a great deal with each assayed hole at Copper Belle and are delighted to report long intercepts of mineralization as we move towards Seabridge’s Iron Cap Deposit. It is worthwhile to note that deeper into the mineralized system we are seeing more silver and copper. The next 22 holes still in the assay laboratory are expected to divulge the overall size and continuity of mineralization and should provide enough data to produce a resource estimate at Copper Belle.”
Darren Blaney, President and CEO of American Creek, stated: “The Copper Belle deposit is proving to be as promising as we had hoped and believed it would be. This hole, with wide intervals of higher grade gold within the larger mineralized gold system, clearly shows the potential for a gold deposit of considerable scale. It also further confirms what the MT survey has suggested as to the extent of the mineralized area at Treaty Creek. We are looking forward to more Copper Belle assays.”
Results from additional drill holes of the 2017 drill program at Copper Belle are still pending. Drill holes targeted the mineralized zone on Copper Belle and all holes to date have intersected long intervals of mineralization to depth. Drill holes were targeted oblique to the northwesterly plunge of the main mineralized zone. The drill program was designed for 50 meter step-outs across the mineralized zone to create a block of delineated mineralization for a preliminary resource estimate. All drill holes were down hole surveyed at 25 m stations using a Reflex Multi-shot device.
A location map of drilling can be found here .
The Company’s 2016 Magnetotelluric Geophysical Survey program (MT Survey) was effectively utilized as a guide for the drill program. The MT Survey suggests that the mineralization continues to the south, toward the Iron Cap deposit of Seabridge Gold Inc. The MT Survey also suggests that the mineralized zone continues in all directions. Tudor Gold’s 2017 drill program was located five kilometers north of the Iron Cap deposit and the Company intends to step out to the south in its 2018 program to see if it can determine a relationship between the two areas.
Drill hole samples were assayed by Activation Laboratories Ltd. in Kamloops, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. Activation Laboratories quality system complies with the requirements for the International Standards ISO 17025: 2005.
The Qualified Person for the Treaty Creek results in this new release is James McCrea, P.Geo. for the purposes of National Instrument 43-101. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
Background on the Treaty Creek Project
The Treaty Creek Project is situated immediately north of Seabridge Gold’s KSM property and near Pretium’s Valley of the Kings Mine, both of which are situated in BC’s Golden Triangle along the Sulphurets and Brucejack fault systems that continue northward into the Treaty Creek property.
Tudor conducted a major drill program (approximately 20,000 metres) on the Treaty Creek property this summer. The objective of the drill program was to define a gold resource on the Copper Belle zone and to determine the future potential of the high grade gold/silver/zinc GR2 zone located in a separate area adjacent to the Copper Belle.
Seabridge Gold’s proposed development plan for their KSM Project includes an access tunnel system through the Treaty Creek property as a key component.
The Treaty Creek Project is a joint venture between Tudor, Teuton Resources Corp., and American Creek. Tudor is the operator and holds a 60% interest with both American Creek and Teuton each holding respective 20% carried interests in the property (fully carried until a production notice is given).
A summary of the Treaty Creek Project can be viewed here:
About American Creek
American Creek holds a strong portfolio of gold and silver properties in British Columbia. The portfolio includes three gold/silver properties in the heart of the Golden Triangle; the Treaty Creek and Electrum joint ventures with Walter Storm/Tudor, as well as the recently acquired 100% owned past producing Dunwell Mine. Other properties held throughout BC include the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King.
Cautionary Statements regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and geological merits of the Treaty Creek Project and other future plans, objectives or expectations of the Corporation are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from the Corporation’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
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.