July 27, 2009 TSX-V: AMK
The 2009 program is designed to examine historical areas of interest and to follow up on positive results from the 2007 program as follows:
Copper Belle Zone
Drill intersections included 0.93 g/t gold and 8.78 g/t silver over 76.07 meters;; 0.76 g/t gold and 4.91 g/t silver over 70.57 meters; 0.83 g/t gold and 6.39 g/t silver over 46.23 meters; and 0.81 g/t gold and 3.80 g/t silver over 65.0 meters;
High grade intervals included 22.6 g/t gold over 2.0 meters; 4.33 g/t gold and 2.0 g/t silver over 17.0 meters; 1.61 g/t gold and 13.34 g/t silver over 16.07 meters; 1.58 g/t gold and 27.43 g/t silver over 8.5 meters, and 1.32 g/t gold with 5.93 g/t silver over 30.18 meters in strongly potassic altered volcanic breccias.
Drill intersections included 6.80 meters of 1.40 g/t gold with 93.95 g/t silver and 0.27% copper, 4.41% lead and 2.59% zinc as well as a 1.27 meter interval of 0.63 g/t gold with 340.0g/t silver, 0.10% copper, 4.61% lead and 4.62% zinc. The GR2 zone has been interpreted as a Volcanogenic Massive Sulphide deposit.
Treaty Creek Location
The Treaty Creek Project is located in northern British Columbia approximately 70 kilometers north of Stewart and is adjacent to Seabridge Gold’s (SEA: TSX) KSM Project. Seabridge has reported that the KSM is now one of the world’s largest undeveloped gold/copper projects. It should be noted that the Corporation’s Qualified Person has not verified the mineral resource results reported by Seabridge and that those results are not necessarily indicative of any mineralization on the Treaty Creek property.
As previously reported by the Corporation, Seabridge has proposed that an underground tunnel be constructed in order to transport ore by conveyor from its KSM Project to a mill and tailings pond to be constructed northeast of the Treaty Creek Project. The Corporation confirms that Seabridge currently has no legal interest in the Treaty Creek claims and that the Corporation has not granted Seabridge access to tunnel through the claims. The Corporation further confirms that access would be granted only on terms maximizing value to American Creek’s shareholders including compensation for the value of any mineral deposits located within the proposed tunnel route.
In March, 2007, American Creek Resources entered into an option agreement with Teuton Resources Corp. (TUO: TSX-V) for the controlling interest in the Treaty Creek property. American Creek was granted the right to earn a 51% interest by spending $5 million on exploration over a period of three years. The Corporation is currently ahead of schedule, having spent approximately $4,225,000.00 to date. The remaining approximately $775,000 in exploration expenditures must be completed by March of 2010. The Corporation plans to complete the 51% earn-in at some point during the exploration program commencing August 5. In addition, a further 9% interest (bringing American Creek’s total interest to 60%) may be earned by funding a positive feasibility study. American Creek is the operator of the project.
Raul Sanabria, P. Geo., is the Qualified Person for the purposes of National Instrument 43-101 for the Treaty Creek Project and will be managing the 2009 exploration program. Mr. Sanabria has verified and approved 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
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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.