AMERICAN CREEK DISCOVERS PROMISING IRON
August 14, 2008 TSX-V: AMK
The program, which focused on a very large magnetic anomaly identified in a previously flown airborne geophysical survey, resulted in the disco very of massive parallel magnetite seams and pods, some of which exceeded 1 meter in width, with up to 15 meters of surface exposure. Magnetite disseminations, seams and pods appear to be associated to a skarn mineralization (grossular skarn, epidote-albite skarn) in the contact of intrusive gabbros and diorites with carbonate rich volcaniclastic and sedimentary rocks of the Harper Ranch formation. The iron mineralization occurs as massive replacements, seams and pods, averaging 60-80% Magnetite, and is developed mostly in the endoskarn.
A ground magnetic survey (portable magnetometer), utilizing 25x25 meter sample spacing, revealed three well defined magnetic zones that correspond with surface exposure and soil anomalies. All three zones, the Iron Ridge (650x250 meters), the Iron Mist (240x300 meters), and the Irony (550x250 meters) have the potential to host an iron deposit. The Iron Ridge and Iron Mist areas also show anomalous high values in Vanadium (>500ppm) and Titanium (>0.25%) as detected in soil samples. Preliminary assay results from chip and grab samples taken on the Iron Mist zone also showed elevated levels of Vanadium (up to 0.41 % vanadium oxide).
The Corporation will be submitting a permit application to the Ministry of Mines for a contemplated fall drill program on the Goldmist Project.
The Corporation is also pleased to report that field programs have commenced on the White Slide, Legacy, and Electrum Projects. The programs consist of mapping, geochemical sampling and magnetometer and IP ground geophysics in certain areas of interest. A similar program is expected to begin on the Treaty Creek Project in approximately two weeks.
American Creek Resources Ltd. is a Canadian junior mineral exploration company focused on the acquisition, exploration and development of mineral deposits within the
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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.
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