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Assay results confirm promising iron ore targets on the Ironmist project

 

ASSAY RESULTS CONFIRM PROMISING IRON ORE TARGETS ON IRONMIST PROJECT

 

 

TSXV: AMK October 20, 2008

 

 

Raymond, Alberta…American Creek Resources Ltd. is pleased to report assay results from rock samples in preliminary exploration of the Ironmist Project (formerly the Goldmist Project), in south-central British Columbia, resulting in the discovery of several promising iron ore targets.

 

The program, which focused on a large magnetic anomaly identified in a previous airborne geophysical survey, resulted in the discovery of massive magnetite seams and pods, some of which exceeded 1 meter in width, with up to 15 meters of surface exposure. Magnetite disseminations, seams and rich pods appear to be associated with a skarn mineralization. The iron mineralization occurs as massive replacements and disseminations of magnetite in the contact of a complex gabbro-diorite intrusion and metasediments of the Harper Ranch formation (volcaniclastics and sedimentary rocks).

 

A ground magnetic survey (portable magnetometer) carried out in May and June, 2008, utilizing 25x25 meter sample intervals combined with soil samples, revealed three well-defined magnetic-high anomalies (see American Creek Resources Ltd., press release August 14, 2008) and a Vanadium anomaly in soil coincident with the main magnetic anomalies.

 

Two of the magnetic anomalies, Iron Mist (240x300 meters) and Iron Ridge (650x250 meters), were later surveyed with a portable magnetometer in a 5x5 meter spacing grid in order to define continuity of exposed magnetite-rich seams covered with overburden. The third anomaly, Irony (550x250), shows disseminated magnetite in a coarse-grained hornblende-diorite intrusion. Several other anomalies, smaller in size, were identified and have the potential to host iron mineralization.

 

The samples taken from the Ironmist anomaly (shown in table 1) confirm production grade iron at surface along with Vanadium associated with the iron. Depending on logistics and other factors, iron can be minable at a 20% grade. Equally important were the relatively low amounts of titanium and phosphorous which can degrade the iron. Darren Blaney, C.O.O., stated: “The assays confirm that the iron content in the magnetite samples is a grade similar to many iron mines in production. The next step in defining an ore body will be to

 

 

 

test the continuation of these grades at depth.” The Corporation has submitted a permit application to the Ministry of Mines for a contemplated fall drill program.

 

The Ironmist Property is located at the southern end of the Quesnel Trough (south-central British Columbia, Canada). This mineral-rich belt has produced more than 10 major past producing lode and placer mining camps totaling some $50 billion worth of metals at today’s prices. This area also has excellent infrastructure: not only is the Ironmist Property only 60 km from a major center (Kamloops, pop: 93,000) but a highway, railway, high transmission power lines, and river run through the property (4.5 km from drill targets). It is also relatively close to Canada’s west coast, with shipping access to world markets.

 

Raul Sanabria, M.Sc., EurGeol., is the “Qualified Person” for the purposes of National Instrument 43-101 for the Goldmist Project. Mr. Sanabria has reviewed the contents of this news release.

 

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

 

For further information please contact Kelvin Burton. Phone: 403 752-4040, Fax: 403 752-4020, or Email: 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

 


 

 

 

Table 1. Assays returned from rock samples on the Ironmist anomaly are shown in the following table:

 

 

Sample

Fe (%)

V2O5%

TiO2%

P2O5%

Al2O3%

MgO%

CaO%

NaO%

8R187810

27.4

0.23

0.47

0.103

1.68

1.44

1.34

0.13

8R187811

43.5

0.40

0.50

0.002

1.47

1.34

0.52

0.05

8R187812

34.2

0.34

0.48

0.002

1.85

1.69

0.76

0.05

8R187813

51.9

0.39

0.52

0.002

2.15

1.92

0.46

0.05

8R187814

13.5

0.13

0.48

0.014

2.36

2.16

2.06

0.20

8R187815

8.61

0.10

0.38

0.060

2.64

2.52

2.35

0.28

8R187816

15.3

0.13

0.42

0.007

1.66

1.39

1.48

0.08

8R187817

7.82

0.07

0.40

0.044

3.48

2.97

1.97

0.24

8R187818

6.51

0.06

0.45

0.192

4.14

3.18

2.59

0.24

8R187819

24.9

0.21

0.45

0.048

2.34

1.87

1.19

0.07

8R187820

42

0.30

0.47

0.002

2.27

1.84

0.56

0.04

8R187821

39.2

0.29

0.43

0.002

2.30

1.91

0.77

0.07

8R187822

23.8

0.19

0.48

0.002

2.32

1.77

1.34

0.09

8R187823

17.8

0.15

0.37

0.160

2.95

2.21

1.44

0.07

8R187824

17.7

0.20

0.40

0.002

1.49

1.36

1.33

0.12

8R187825

21.3

0.22

0.47

0.002

1.55

1.41

1.20

0.09

8R187826

38.2

0.27

0.40

0.002

2.70

1.76

0.77

0.03

8R187827

47.3

0.35

0.60

0.002

2.15

1.67

0.77

0.05

8R187828

49.6

0.32

0.50

0.002

2.42

1.62

0.38

0.01

8R187829

43.9

0.33

0.57

0.002

2.36

1.99

0.73

0.05

8R187830

58.6

0.39

0.50

0.002

0.66

0.30

0.11

0.01

8R187831

61.7

0.38

0.55

0.002

0.76

0.45

0.14

0.01

8R187832

55.2

0.38

0.47

0.002

1.15

0.76

0.21

0.03

 

 

 

 

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.