April 13, 2012 TSX-V: AMK
American Creek Resources Ltd. (“American Creek”) is pleased to announce the final assay results from the last five holes of the 2011 exploration program conducted on its 100% owned Electrum Property near Stewart, B.C
In 2010 American Creek had planned a 10,000m program to advance the Electrum project. This program was updated and refined by SRK Consulting and Frank O’Grady, P. Eng. to use the first 5,000m in identifying a potential open pit area crosscutting epithermal veins. This open pit model has been used at the Big Missouri and Premier mines located 14 and 18km down the haul road from the Electrum. This modified program also employs a more efficient use of limited drilling given that only 2,105m of the planned 5,000m were completed due to budgetary constraints.
The significance of continuing to intercept the stockwork (porphyry) previously found on the Electrum is due to the exceptional logistics of the property. A well-developed 40km road directly links the property to the bulk tonnage shipping terminals in Stewart. Electrical power lines come within 18 km of the property and can be continued along the existing haul road.
The historically mined epithermal vein on the property (East Gold Mine) produced 3,816 oz of gold and 2,442 oz of silver from 45 tons of hand selected ore (pre NI 43-101). In surface sampling and in previous drilling American Creek has intercepted similar high-grade veins that would significantly add value to a low-grade bulk tonnage resource.
With this in mind, the objectives of the 2011 program designed by SRK Consulting and Mr. O’Grady were to:
- Determine if the lower grade gold values present in a quartz stockwork similar to that found in Hole EL06-17 drilled in 2006 are present over a significant portion of the property. Hole EL06-17 returned assays of 0.42 g/t Au and 2.10 g/t Ag over 142.5 meters.
- Determine if the higher grade gold values in epithermal veins are present along strike and down dip from their surface showings.
These two objectives were pursued by geological mapping and diamond drilling.
Significant results from the last five holes of the 2011 program are reported below:
In hole EL11-759 the weighted average of gold over the entire 278.59 meters length of the hole is 0.31 grams per tonne gold. There were sections of higher values as follows:
In hole EL11-762 the weighted average of gold over the entire 175.26 meters length is 0.39 grams per tonne gold. There were sections of higher values as follows:
In hole EL11-761 the weighted average of gold over the entire 230.73 meters length is 0.23 grams per tonne gold. There were sections of higher values as follows:
Hole EL11-761 and hole EL11-759 were drilled from the same collar location as EL11-756; hole EL11-762 was drilled from a location 20 meters north of the EL11- 756 collar.
The three most recent holes (EL11-759, EL11-761 and EL11-762) were drilled to determine if the quartz stockwork encountered in EL11-756, and carrying sections of open pit grade values, was present in the immediate vicinity.
The results, as referenced from above are:
|HOLE||HOLE LENGTH (m)||WEIGHTED AVERAGE|
While the grades encountered in holes are probably sub economic when compared to other disseminated gold deposits around the globe they indicate the quartz stockwork containing gold values is extensive. It can be concluded that systematic drilling stepping out from this area may result in expanding the known stockwork zone that will contain higher grade gold values.
As discussed in the news release of December 14, 2011, the hydrothermal veins may play a significant role in adding value to the property.
A brief summary of the hydrothermal veins is as follows:
- East Gold Mine vein. Historically produced 118,719 grams of gold (3,816 ounces) and 75,985 grams (2,442 ounces) of silver from 45 tonnes of handpicked ore (pre 43-101).
- Reported in the December 15, 2011 press release, a hydrothermal vein was encountered in hole EL11 -746 which is situated approximately 300 meters south of the East Gold Mine zone and is a parallel structure. This vein assayed 3.85 g/t gold and 342.31 g/t silver over 1.57 meters.
- The Shiny Cliff hydrothermal vein, reported in a press release on September 28, 2011, was intersected in hole EL11-748. Because of the possible nugget effect of the gold values in a hydrothermal vein this intersection was re-assayed. The averaged results are 2.26 g/t gold and 286.44 g/t silver over 2.26 meters.
The results of the 2011 exploration program indicate that there is potential for expanding the bulk mining gold grades exemplified in the quartz stockwork type of mineralization. It further indicates the potential of expanding the hydrothermal veins on the Electrum property by delineating known veins and the possibility of encountering further veins during future drilling and mapping of the property.
Frank O’Grady, P.Eng., is the Qualified Person for the purposes of National Instrument 43-101 for the Electrum Project. Mr. O’Grady has verified and approved the contents of this news release.
American Creek Resourced Ltd. is a Canadian mineral exploration company focused on the acquisition and development of mineral 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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