CARDSTON, Alberta--(BUSINESS WIRE)-- American Creek Resources Ltd (TSX-V: AMK) (the “Corporation”) is pleased to report on the last hole 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.
Assays have now been received for all holes drilled in 2017. The final hole being reported on is CB-17-29. It was a stepout hole which intersected various mineralized zones, including 94.5 metres of continuous mineralization grading 0.75 gram per tonne gold from 84.5 m to 179.0 m depth. That zone included a higher-grade intercept of 76.5 m grading 0.86 g/t gold from 99.5 to 176.0 m. Hole CB-17-29 was an 806 m hole collared adjacent to the west side of the Treaty Creek glacier where glacier meltback has exposed new opportunities for exploration access.
Hole CB 17-29 was drilled on the same pad as CB-17-24. That pad is down-slope and 166 m south of the CB-16-03 pad. Hole CB-16-03 graded 1.11 g/t Au over 58 m from 88 to 146 m and 0.97 g/t Au over 122 m from 304 to 426 m.
Drill results for hole CB-17-29 are summarized in the table below:
TREATY CREEK DRILL RESULTS
From (m) To (m)
|Interval (m)*||Au (g/t)||Ag (g/t)||Cu (%)|
* True widths of the mineralization have not been determined.
Walter Storm, President and Chief Executive Officer, stated: "Hole 29 being reported in this news release concludes our 2017 drill campaign. The Copper Belle zone is now over a kilometre in length and is open in multiple directions. Total 2017 drilling was 13,722 m with 26 of 27 holes providing excellent results, including:
- "94.5 m of 0.75 g/t Au (CB-17-29);
- "Including 76.5 m of 0.86 g/t gold;
- "149.1 m of 1.78 g/t Au (CB-17-26);
- "Including 59.2 m of 2.84 g/t Au;
- "90.5 m of 1.21 g/t Au (CB-17-12);
- "Including 70.5 m of 1.47 g/t Au;
- "115.5 m at 1.31 g/t Au (CB-17-24);
- "Including 39.0 m of 2.38 g/t Au;
- "176 m of 0.80 g/t Au (CB-17-04);
- "Including 28.5 m of 1.07 g/t Au;
- "Including 10 m of 2.9 g/t Au;
- "369 m of 0.69 g/t Au (CB-17-07);
- "Including 43 m of 1.81 g/t Au.
"For our third season on Treaty Creek our primary goals will focus on: 1. expanding our Copper Belle resource; 2. determining if we have a multiple deposit environment like Seabridge's KSM/Iron Cap mineralized systems; and 3. using all accumulated data to generate our first preliminary resource estimate.
"On the Copper Belle zone, we will continue with: stepout drilling to the northeast where gold grades have been improving; additional stepout drilling in the central area around hole 26; plus drilling southward from the Copper Belle discovery hole.
"Exploration will also continue along the MT anomalous gap between Iron Cap and Copper Belle where two exposures identified in historical data reported very high-grade gold assays. The first at the Konkin zone with 1.2 m of 870 g/t gold, and the AW zone, approximately 1.3 kms further south of Konkin, where float specimens ran up to 255 g/t gold.
"Further exploration will take place on the GR2 project to enhance our understanding of that high-grade VMS zone. The final details of the 2018 exploration program will be released in due course."
Darren Blaney, President and CEO of American Creek stated: “Now that we have all the 2017 results back, we eagerly anticipate the upcoming Copper Belle resource calculation. Having a definable resource at Treaty Creek is a major step forward in the advancement of the project as well as for American Creek itself.”
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. 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.
Drill location map: http://americancreek.com/images/nr_images/32192_a1516623095073_39.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.
More information related to the success at the Treaty Creek project is available by watching this recent interview conducted a few days ago: https://www.youtube.com/watch?v=eSHZj4hmNwM
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.
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:
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.