Raymond, Alberta… American Creek Resources Ltd. (TSX-V:AMK) (“American Creek”) is pleased to highlight substantial resource expansions announced by Seabridge Gold Inc. (TSX:SEA) (“Seabridge”) on March 11, 2009, and by Silver Standard Resources (TSX:SSO) (“Silver Standard”) on February 3, 2009, on their respective deposits located next to American Creek’s Treaty Creek Project in northern British Columbia.
American Creek’s Treaty Creek Project is located directly north of and adjacent to Seabridge’s Kerr/Sulphurets/Mitchell project and appears to form part of the same highly mineralized trend line. Seabridge reports that the Mitchell deposit now hosts a resource of over 39 million ounces of gold and 8 billion pounds of copper. Seabridge expects to release an updated resource estimate on the Kerr and Sulphurets deposits shortly, along with an updated 43-101 Technical Report.
Silver Standard recently announced a significant resource increase in the Snowfield deposit located 2.5 kilometers south of the Treaty Creek property and adjacent to the Mitchell deposit. The Snowfield/Sulphurets project now totals 19.1 million ounces of gold, 1.96 billion pounds of copper and over 63 million ounces of silver.
The combined projects in this area now host a collective resource of approximately 62 million ounces of gold, 12.5 billion pounds of copper, 127 million ounces of silver, and 148 million pounds of molybdenum, making it one of the largest undeveloped gold-copper projects in the world.
Infrastructure for these projects is favorable, with Highway 37 approximately 20 kilometers away and a shipping port at Stewart, BC. Recently, the Province of British Columbia announced plans to begin the environmental assessment process and First Nations consultation for the Northwest Transmission Line along Highway 37. The Province will invest the estimated $10 million to immediately start the environmental assessment process -- the first step toward building the transmission line. The new 287-kilovolt line would provide the Treaty Creek, KSM and Snowfield projects with access to the BC Hydro electric grid.
In March, 2007, American Creek Resources entered into an option agreement with Teuton Resources Corp. (TSX-V: TUO) for the controlling interest in the Treaty Creek property. American Creek has completed two years of exploration, including 5,470 meters of drilling. Exploration results can be viewed at www.americancreek.com.
American Creek believes that the positive results of its exploration on the Treaty Creek Project, together with the significant resource expansion at the KSM and Snowfield projects and the likely development of a major transmission line, signal a major step forward for the company and its shareholders.
Raul Sanabria, P. Geo., is the Qualified Person for the purposes of National Instrument 43-101 for the Treaty Creek Project and has verified and approved the contents of this news release.
American Creek Resources Ltd. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold and silver deposits within the Province of British Columbia, Canada.
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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