CARDSTON, Alberta--(BUSINESS WIRE)-- American Creek Resources Ltd. (TSX.V: AMK) (the “Corporation”) is pleased to report on results from its 2017 drill program on the Copper Belle zone of the Company’s Treaty Creek property located in B.C.’s Golden Triangle adjacent to Seabridge’s KSM project and Pretivm’s Brucejack mine.
CB-17-12, a step-out hole drilled on the Copper Belle zone, intersected various mineralized zones where the most significant was 90.5m of continuous mineralization grading 1.21 g/tonne gold from 24 to 114.5m depth, including a higher-grade intercept of 70.5m grading 1.47 g/t gold from 31.5 to 102m. Hole CB-17-12 was a 564m hole that was collared adjacent to the west side of Treaty glacier where ice ablation (glacier melt-back) has exposed new opportunities for exploration access. Hole CB 17-12 is 110m south of CB-16-03 that graded 58m from 88 to 146m of 1.11 g/t Au; and 122m from 304 to 426m of 0.97 g/t Au. Hole CB 16-03 was drilled uphill at a higher elevation (see map link).
Drill results for hole CB-17-12 are summarized in the table below:
|Hole-ID||From (m)||To (m)||Interval (m)*||Au (g/t)||Ag (g/t)||Cu (%)|
*True widths of the mineralization have not been determined.
Darren Blaney, President and CEO, stated: “CB-17-12 shows a continuance of significant mineralization found in the numerous holes released so far. The fact that holes on Copper Belle have excellent results, extend over a one-kilometer range, have continuity between, and are open to the north and south, makes this a very significant system. This is emphasized by the fact that it, along with the high grade GR2/HC zone, are located within the same hydrothermal system as the world class KSM deposits and the Brucejack mine. We look forward to the remaining assays and planned resource calculation(s) on the Treaty Creek project”.
The Copper Belle 2017 resource delineation program comprised 27 drill holes to depths below 700m (an estimated 13,722m) and step-outs of 50m where topography permitted. Results from additional drill holes of the 2017 drill program at Copper Belle are still pending. Drill holes were targeted oblique to the northwesterly plunge of the main mineralized zone. A block of delineated mineralization will form the basis for a preliminary resource estimate. All drill holes were down hole surveyed at 25m stations using a Reflex Multi-shot device.
The Magnetotelluric Geophysical Survey program (MT Survey) completed on the property in 2016 was effectively utilized as a guide for the drill program. The MT Survey suggests that the mineralization continues to the southwest toward the Iron Cap deposit of Seabridge Gold Inc. The MT Survey also suggests that the mineralized zone is open along strike and at depth. Tudor Gold’s 2017 drill program was located just five kilometers north of the Iron Cap deposit and the Company intends to step out to the south in its 2018 program to see if it confirms a relationship between the two areas.
Map of the drill holes on the Copper Belle
Drill hole samples were assayed by Activation Laboratories Ltd. in Kamloops, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. Activation Laboratories quality system complies with the requirements for the International Standards ISO 17025: 2005.
The Qualified Person for the Treaty Creek results in this new release is James A. McCrea, P.Geo. for the purposes of National Instrument 43-101. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
Background on 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.
In 2017 Tudor conducted a major drill program (approximately 20,000 metres) on the Treaty Creek property. The objective of the drill program was to define a gold resource on the Copper Belle zone and to determine the future potential of the high-grade gold/silver/zinc GR2 zone located in a separate area adjacent to the Copper Belle.
Seabridge Gold’s proposed development plan for their KSM Project includes an access tunnel system through the Treaty Creek property as a key component. The approximate trajectory of the tunnels can be found on the drill map link above.
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 (American Creek and Teuton are not required to contribute to their proportionate costs until a production notice is given).
A summary of the Treaty Creek Project can be viewed here:
About American Creek
American Creek holds a strong portfolio of gold and silver properties in British Columbia. The portfolio includes three gold/silver properties in the heart of the Golden Triangle; 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.
Cautionary Statements regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and geological merits of the Treaty Creek Project and other future plans, objectives or expectations of the Corporation are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from the Corporation’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
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