Cardston, Alberta--(Newsfile Corp. - October 25, 2018) - American Creek Resources Ltd. (TSXV:AMK) ("American Creek") ("the Corporation") is pleased to report that it has commenced an exploration program on its 100% owned Gold Hill property located in the Boulder Creek drainage, a tributary of the Wildhorse River east of Fort Steele, British Columbia. The program includes up to 2,500 meters of drilling.
The Gold Hill property covers approximately 836 hectares and is located along the eastern edge of the Kimberly Gold Trend. The property is road accessible by paved highway to Fort Steele and then by main logging roads to (and through) the property. Driving time from Cranbrook to the center of the property is less than one hour.
The property contains a significant portion of the Boulder Creek drainage, a tributary of the Wild Horse River which is considered to be one of the greatest gold rivers in the entire province. Gold rushes have taken place there since the 1860's that have yielded 48 tonnes of reported gold, making it Canada's 4th largest placer producer. The majority of the gold recovered from the Wild Horse was located along a 6 km stretch between Boulder Creek (upstream) and Brewery Creek (downstream). Early efforts by prospectors to locate the source of the Wild Horse placer gold led explorers up Boulder Creek to what is now called the Gold Hill property.
Although lode gold was first found in the area by prospectors in 1865, the Gold Hill property has not been the subject of any systematic modern exploration and the property has never been drill tested. The apparent reason is that the property was tied up in Crown Grants for an extended period of time. Historic work conducted on the property in 1937 included drifting and sampling on the Big Chief prospect by The Consolidated Mining and Smelting Company (CM&S - which became Cominco and is now Teck Resources Ltd.). CM&S conducted a car sampling program in which samples taken every 5 feet (1.5 meters) of advance along 40 feet (12 meters) of tunnel returned an average of 0.43 ounces (12 grams) of gold per ton with additional silver and base metal values.
In addition, face samples taken at 2 foot (0.6 meter) intervals along 22 feet (7 meters) of tunnel assayed 2.4 ounces per ton (68 grams) however, the face samples were likely subject to "nugget effect". The tunnel driven by CM&S veered off the mineralized zone to explore a different part of the structure (where the gold values stopped).
Rock grab sampling conducted by American Creek in 2016 and 2017 included assays up to 25.14 g/t gold with 498.9 g/t silver in the northern Midas/Gold Hill area and up to 22.32 g/t gold on the Big Chief, and included the discovery of two new gold-bearing quartz veins.
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There are two main highly prospective targets on the property:
1. The Midas prospect which is situated on the southern part of the property. The Midas is in an area of steep topography and is structurally controlled.
2. The Big Chief prospect which is situated on the northern portion of the property. The Big Chief is located on an area of moderate relief and is formed by hydrothermal activity from intruded syenite dykes of Cretaceous age.
The property is nominally divided into north and south portions by Boulder Creek which flows westerly through the property. This portion of the exploration program will concentrate on the Big Chief prospect.
One of the planned drill holes is designed to test the underlying formations at depth where they are intruded by the Syenite Porphyry. A report titled "Summary Report Untested Gold Targets on the Big Chief Property by David Pighin, P. Geo. (2014) theorizes that the syenite porphyry on the property may intrude the calcareous Cambrian Jubilee Formation at depth. Pighin further theorizes the calcareous Jubilee Formation is a more favorable host rock for mineral deposition. A hypothetical cross section exhibits the theoretical underlying formation and this drill hole is designed to test the theory.
Other drill holes will test additional prospective targets.
A recently completed NI 43-101 report on the Gold Hill project can be viewed here:
A summary of the Gold Hill project can be found here: https://americancreek.com/images/Gold_Hill_Summary_2018.pdf
Frank O'Grady, P.Eng., is the Qualified Person as defined by National Instrument 43-101 for the Gold Hill Project and he will be directing the current drill program.
Electrum Option Agreement
The Corporation also reports that it has granted Tudor Gold Corp. ("Tudor") an additional extension for the previously announced option to buy out the Corporation's 40% interest in the Electrum Project Joint Venture located near Stewart, British Columbia. Tudor paid the Corporation a non-refundable payment of $50,000 upon entering the original agreement. If the option is exercised by Tudor, a further payment of $2,650,000 will be made to the Corporation on or before December 15, 2018.
This transaction is subject to approval by the TSX Venture Exchange.
About American Creek
American Creek holds a strong portfolio of gold and silver properties in British Columbia.
Three of those properties are located in the prolific "Golden Triangle"; the Treaty Creek and Electrum joint venture projects with Tudor (Walter Storm) as well as the 100% owned past producing Dunwell Mine.
The Corporation also holds the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King properties located in other prospective areas of the province.
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.