Cardston, Alberta--(Newsfile Corp. - March 12, 2019) - American Creek Resources Ltd. (TSXV: AMK) ("American Creek") (the "Company") is pleased to report on the RAISE at the PDAC: 1X1 Small-Cap Resource Conference, the Red Cloud 2019 Pre-PDAC Mining Showcase, as well as the Prospectors and Developers Association of Canada (PDAC) annual conference.
The RAISE at the PDAC: 1X1 Small-Cap Resource Conference was an exclusive event for investors and finance individuals who invest in resource stocks to meet one-on-one with companies throughout the day in a series of meetings and presentations. American Creek met with a steady flow of high net worth individuals, brokers, and fund managers throughout the day.
The Red Cloud 2019 Pre-PDAC Mining Showcase was a sold-out event with some 500 investors attending the conference where American Creek had a booth and also did a "Dragons Den" style presentation to a panel of important industry financial representatives. Red Cloud is a big supporter of exploration companies operating in the Golden Triangle region of BC and American Creek has had recent discussions with Red Cloud management regarding working together going forward.
There were two noticeable differences observed by Company representatives at the PDAC conference this year. One was a palpable excitement in general for precious metals, more particularly gold and silver. The overall sentiment amongst "the experts" giving presentations and the investors we interacted with was one of optimism and expectations for a rise in both gold and silver prices as the year progresses.
The second, and of particular significance to American Creek, was the impressive amount of exposure and recognition that B.C.'s Golden Triangle has achieved. Exploration in that region now equals the rest of the province put together. The experts, analysts and letter writers were all talking about it, and most people who we interacted with knew about or were planning to invest in Golden Triangle companies and projects. It appears that a new Golden Triangle "gold rush" may be in the making. As American Creek has operated in the Golden Triangle region for almost 15 years and has three noteworthy projects there, we are well positioned to benefit from this building excitement.
Having the Treaty Creek JV property with a fully carried interest next to the Brucejack/Valley of Kings (VOK) mine (Pretivm) and the largest undeveloped gold deposit in the world by reserves (Seabridge) with similar geology, geophysics and structure positions American Creek for potential significant growth.
Investors were impressed with and excited about Ken Konkin (former head geologist for Pretivm and instrumental in the discovery and development of the Brucejack / VOK mine) now heading our JV partner Tudor Gold's geological team to develop Treaty Creek. Many shareholders were able to talk with Mr. Konkin at the PDAC conference. In discussions with Mr. Konkin, the three items concerning the Treaty Creek project that he is most excited about are:
- The geology, geophysics and structure are showing potential for similar scale to the rest of the Sulphurets Hydrothermal System, and the drilling to date is confirming.
- Generally speaking, the string of porphyry related deposits running through the Sulphurets Hydrothermal system have stronger gold equivalent grades the further north you go. The Goldstorm deposit on our Treaty Creek property is richer in gold and total gold equivalent than the KSM deposits further to the south.
- Treaty Creek is "on the right side of the hill" where there is direct access to highway 37 and the high-power transmission line making logistics markedly better than for deposits further south.
Investors were also excited to learn that American Creek owns 100% of the former operating high-grade Dunwell mine located just 8km from the shipping port in Stewart, B.C., with highway and power lines running through it. The Bear River valley is quickly becoming a hotbed of activity including many recent mergers and acquisitions and our Dunwell property has the richest historical grades and production in the valley. There is also now an opportunity to provide a nearby soon to open mine with mill feed from the Dunwell. In addition to investor interest, we presently have serious interest in the project from several different companies. American Creek is planning on commencing drilling at the Dunwell project within the next 90 days. The objective of that program will be to confirm that under the old workings there are additional significant high-grade extensions of the previously mined gold/silver ore body.
As mentioned in our previous release, American Creek granted 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 American Creek 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 American Creek on or before April 15, 2019.
The combination of American Creek working on the Dunwell while its JV partner develops Treaty Creek, and either receiving an additional $2,650,00 or retaining 40% of the Electrum property puts American Creek in one of the strongest positions in the Golden Triangle, which didn't go unrecognized by both analysts and investors alike.
A preliminary drill program consisting of approximately 2,000 meters of drilling in four holes on two sections was recently concluded on the property. The objective of the program was to get our first initial look at underground geological structure as prior to this time, no drilling had ever been conducted on the property. Information from this preliminary program will be utilized to model and plan future exploration on a wider scale. Assay results are pending.
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 Gold (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.
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