CARDSTON, Alberta--(BUSINESS WIRE)-- American Creek Resources Ltd. (TSX.V: AMK) (the “Corporation”) is pleased to report on Tudor Gold’s (“Tudor”) final results for the 2017 exploration season from the GR2/HC Zone of the Treaty Creek Project. The Treaty Creek Project is situated immediately north of Seabridge Gold’s KSM property and near Pretium’s Valley of the Kings Mine, both of which are situated in BC’s Golden Triangle along the Sulphurets and Brucejack fault systems that continue northward into the Treaty Creek property.
The HC extension of the GR2 Zone was discovered during the 2017 exploration program and carries high-grade gold, silver and base metal mineralization. The HC drill program augmented the previous drill holes in the zone and consisted of 17 drill holes totaling 5,401 meters in 2017. The program was designed with a maximum of 50 metre step-outs in the mineralized zone to prepare for a preliminary resource estimate.
The GR2/HC zone appears to be a gold-rich VHMS deposit in which the feeder vein system and the stratabound lenses have been intersected. A later Ag-(Pb-Zn-Sb-Cu) vein system was also found reactivating some of the previous structures in the same area where the HC extension is located. These veins are late in the formation and are hosted in the volcaniclastic sequence or in the younger Jurassic Hazelton sequence, crosscutting (and reactivating) previous HC related feeder vein system and HC stratabound lenses. The RR Ag-base metal vein holes are collared 800m north of the HC zone, following the same structure.
Thirty-six drill holes have been drilled to date in the GR2/HC, covering an area approximately 400m along strike and 450m down dip at 50m space increments that show consistent geology and which demonstrate the distribution and continuity of the feeder vein system, the strata-bound zone, and the late silver-base metal vein system. Historical surface sampling carried out by previous operators to both the north and south of the GR2/HC zone indicates that the main mineralized structure potentially extends 3,000m along strike. The mineralized structure remains open to the north and south beyond the existing drill holes, and down dip.
Significant drill results are summarized in the tables below (all distance measurements reported in meters).
|Hole||From||To||Interval*||Au g/t||Ag g/t|
|HC Feeder Veins|
|Hole||From||To||Interval*||Au g/t||Ag g/t||
|HC Ag-(Base Metal) Veins|
|Hole||From||To||Interval*||Au g/t||Ag g/t||AuEq** (g/t)|
|RR Ag-base Metal Veins|
*True thickness of all above mineralized intervals still to be
**AuEq calculated assuming Au USD$1,275/oz and Ag USD$16/oz.
Note that only precious metals were reported on.
Darren Blaney, CEO of American Creek stated: “The discovery of the new HC extension is a very welcome bonus to this year’s Treaty Creek drill program. The GR2/HC system appears to have potential to be very extensive, which would add significant value to the adjoining Copper Belle bulk tonnage gold zone, which was the main focus of this year’s drill program. A large polymetallic zone with high grade gold and silver would be a most welcome addition to the project.”
2017 drill results from the Copper Belle gold zone at Treaty Creek are still pending and will be reported on once received.
Background on the Treaty Creek Project
Tudor conducted a major drill program (approximately 20,000 metres) on the Treaty Creek property this summer with the objective of defining a gold resource on the Copper Belle zone.
The Treaty Creek Project is a joint venture between Tudor, Teuton Resources Corp., and American Creek. Tudor is the operator and holds a 60% interest with both American Creek and Teuton each holding respective 20% carried interests in the property (fully carried until a production notice is given).
A summary of the Treaty Creek Project can be viewed here:
Electrum Project Road Completion
The Corporation also reports that Tudor Gold recently completed construction of an access road extension on the Electrum Project connecting the existing Granduc Haul Road to the New Blast/Shiny Cliff high grade gold and silver zones which are the focus of a planned 10,000 ton bulk sample.
In Tudor’s recent news release, Walter Storm, President and CEO stated, "We are very pleased to have completed this access road, which will now allow us to proceed with a 10,000 ton bulk sample of this high grade gold/silver mineralized zone, subject to receipt of permits. A bulk sample in combination with past drill results will further our geological understanding and unlock value of this high grade mineralized system."
Background on the Electrum Property
The Electrum property is a 60:40 joint venture between Tudor Gold (as operator) and American Creek. It is located between the past producing Silbak-Premier gold mine and British Columbia's newest gold mine, Pretium’s Valley of the Kings - recently commissioned at a cost of $1 Billion dollars and hosting proven and probable reserves of 8.1 million ounces of gold (see www.pretivm.com). Within this rich portion of BC’s Golden Triangle are several other past producing mines as well as numerous new projects undergoing exploration.
About American Creek
American Creek holds a strong portfolio of gold and silver properties in British Columbia. The portfolio includes three Golden Triangle gold/silver properties; the Treaty Creek and Electrum joint ventures with Walter Storm/Tudor as well as the recently acquired 100% owned past producing Dunwell Mine. Other properties held throughout BC include the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King.
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