CARDSTON, Alberta--(BUSINESS WIRE)-- American Creek Resources Ltd (TSX-V: AMK) (the “Corporation”) is pleased to report on an additional 17 holes from JV partner Tudor Gold’s (“Tudor”) 2017 drill program on the Copper Belle zone at the Treaty Creek Project located in the Golden Triangle of northwestern British Columbia.
The summary of results provided in the table below, include the most promising gold intersections reported to date. Hole CB-17-26, returned 149.1m grading 1.78 g/t gold (from 97.8 to 246.9m), including a 59.2m interval of 2.84 g/t gold (from 97.8 to 157m depth). So far, 15 of the 16 holes drilled in the Copper Belle zone contain prominent mineralization, which continues to expand the size of this potential deposit and increases the area of the resource estimate for this zone.
|Hole-ID||From (m)||To (m)||Interval (m)*||Au (g/t)||Ag (g/t)||Cu (%)|
|CB-17-11||No Significant Values|
*True widths of the mineralization have not been determined.
Walter Storm, President and CEO of Tudor Gold, stated: “The outstanding interval of gold mineralization in Hole CB-17-26--149m of 1.78 g/t gold--contains the highest average gold grade yet recorded for porphyry style mineralization on the Treaty Creek property. It also ranks among the top tier, in terms of gold grades, of the hundreds of holes drilled during the past fifteen years into multiple porphyry targets on the adjoining KSM and Brucejack-Snowfield properties of Seabridge Gold and Pretium Resources, part of the same, large hydrothermal “Sulphurets” system. The fact that we have achieved these kinds of grades in only our second year after acquiring Treaty Creek speaks both to the potential of the property and also the expertise of our geological staff. This hole will serve to further guide our exploration at Copper Belle in 2018, as well as the more than 3km of ground yet to be explored between the Copper Belle and the Iron Cap Zone of Seabridge Gold to the south, an area defined by extensive magnetotelluric anomalies.”
Darren Blaney, President and CEO of American Creek stated: “Hole CB-17-26 is a game changer for the Treaty Creek Project. At this very preliminary stage of exploration, we have already located a significant zone of higher grade gold within the Copper Belle system. Further, the MT Survey suggests that this deposit is open in all directions, including towards Seabridge’s Iron Cap discovery located several kilometers to the south. What a terrific foundation for the upcoming 2018 drill program to expand upon.”
The Copper Belle 2017 resource delineation drill program comprised 27 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.
Tudor’s 2016 Magnetotelluric Geophysical Survey program (MT Survey) 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 continues in all directions. Tudor’s 2017 drill program was located 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 can determine a relationship between the two areas.
A drill map of the Copper Belle can be found here: https://orders.newsfilecorp.com/files/4494/32005_tudor1enhanced.jpg
The Qualified Person for the Treaty Creek results in this new release is James 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 located in BC’s Golden Triangle along the Sulphurets and Brucejack fault systems that continue northward into the Treaty Creek property.
Tudor conducted a major drill program (approximately 20,000 metres) on the Treaty Creek property this past summer. 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 Copper Belle and GR2 deposits located on the Treaty Creek property are both situated in the area in which Seabridge is proposing to construct tunnels connecting their KSM gold deposits with critical infrastructure such as the mill and tailings facilities.
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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