Cardston, Alberta--(Newsfile Corp. - September 30, 2019) - American Creek Resources Ltd. (TSXV: AMK) ("American Creek") ("the Corporation") is pleased to announce composite results from JV partner Tudor Gold's ongoing drill program being conducted at the Treaty Creek Project located in the Golden Triangle of NW British Columbia. As announced on September 23, 2019 we now have results from two deep vertical diamond drill holes (drilled to a depth of over 1,000m) and four definition drill holes. All six holes intercepted significant gold mineralization over wide intervals at the Goldstorm Zone.
Hole GS19-47 was drilled as a 150m step-out from hole GS19-42 (reported July 30, 2019 averaging 0.683 g/t Au over 780m) and was drilled vertically to a total depth of 1,199m, ending in mineralization. The hole contains strong stockwork with gold-bearing mineralization accompanied by significant base-metal disseminated sulphide mineralization averaging 0.589 g/t Au over 1081.5m including an upper interval of 0.828 g/t Au over 301.5m and a lower interval of 0.930 g/t Au over 207 m. The hole was stopped in mineralization due to the drill rig reaching its depth limitation, however, casing was left in the hole for possible continuation next year.
This 150 meter step-out hole confirms that the Goldstorm system is gaining strength to the northeast. With this strongly mineralized intercept, the Goldstorm Zone has been extended by a total of 300m this year from the best hole drilled in 2018 (CB18-39, averaging 0.981 g/t Au over 563.8m) and has now been traced along strike for over 800 meters.
Goldstorm Definition Drilling
A second deep vertical hole, GS19-48, was drilled to a total depth of 1035m from the same pad as CB18-39 (drilled in 2018). The results exhibit excellent continuity of mineralization between holes and this drill hole returned 0.725 g/t Au over 838.5m, including a near surface interval of 328.5m averaging 1.048 g/t gold Au.
Four footwall definition holes (GS19-43 to GS19-46) drilled on section 109+00 NE, were successful in extending the width of the mineralized zone, to the southeast into the footwall of the controlling fault structure.
- Hole GS19-43 returned an average of 0.566 g/t Au over 493.5m;
- Hole GS19-44 returned an average of 0.807 g/t Au over 267m including 1.065 g/t Au over 150m;
- Hole GS19-45 returned an average of 0.719 g/t Au over 325.5m including 1.000 g/t Au over 173m.
- Hole GS19-46 returned an average of 0.510g/t Au over 594m including 0.734 g/t Au over 162m.
Tudor Gold Exploration Manager, Ken Konkin explains: "Given the success of the two deep drill holes GS19-47 and GS19-48, the Goldstorm System shows no signs of weakening to the northeast and several more drill holes will be needed to find the length and depth of this huge gold system. Hole GS19-47 showed a very strong quartz stockwork system and was still in gold values at the end of the 1,199 meter drill hole. The bottom of GS19-47 averages 0.930 g/t Au over 207 meters. This is the first time we've seen this strength of gold mineralization at depth. Furthermore, a strong copper association was encountered with gold values at depth in both GS19-47 and GS19-48.
A 151.5m zone of 0.22% copper with 0.572 g/t gold was intercepted from 665.0 to 816.5 meters in GS19-47 and a 66.0m zone of 0.35% copper with 0.958 g/t gold was intercepted from 874.5 to 940.5m in GS19-48.
Not only does the Goldstorm Zone remain open at depth and along strike, we are now seeing base-metal associations possibly as part of a zonation within the metal system."
The following table provides gold composites from all nine 2019 drill holes completed on five sections that cut the Goldstorm Zone
Table 1: Gold Composite Intervals for Drill Holes GS19-40 to GS19-48
* All assay values are uncut and intervals reflect drilled intercept lengths.
* True widths of the mineralization have not been determined
* All sample sizes are a standard 1.5m saw-cut split of HQ and NQ2 diameter drill core
The following table contains diamond drill hole location data for the drill holes completed in 2019. See the accompanying plan map that shows drill hole locations and section lines.
Table 2: Diamond Drill Hole Co-ordinates
|Section||Hole ID||Northing |
|Elev (m)||Azimuth||Inclination |
* Co-ordinates are subject to completion of final survey readings
* Orientations are reported for the azimuth and dip of holes at their collars
Goldstorm Zone Drill Section 109+00 NE, 111+00 NE and 114+00 NE
Section 114+00 NE is a 300 m step-out on strike from 111+00 NE and hole GS19-47 hosts what is now the longest and deepest gold intercept on the project to date.
Section 111+00 NE shows the consistency of the upper horizon gold grades between holes and new depth extension in hole GS19-48.
Section 109+00 NE shows four definition holes drilled this season to better outline the extent of the zone to the southeast.
Goldstorm Zone Plan Map
The Goldstorm Zone now extends more than 800 meters in strike length and remains open along strike to the Northeast and Southwest as well as to depth.
Goldstorm zone drill sections and the plan map are included at the bottom of the news release.
The diamond drilling program continues with two drill rigs. Additional results will be announced as they become available.
Walter Storm, Tudor Gold President and CEO, stated: "I am very pleased to see that all nine holes drilled have reported very good results and we have not missed on any step-out targets nor any footwall extension holes, they were all hits. These results have proven that we have an excellent understanding of the structure, geology and mineralogy of this massive gold system. I am looking forward to continuing our exploration efforts in order to unlock the full potential of this large gold system."
Darren Blaney, American Creek CEO, stated: "The Goldstorm deposit continues to produced world-class intercepts that are both deep and yet very strong close to surface. Hole GS-19-48 carries 0.725 g/t Au over 838.5m including a near surface interval of 1.048 g/t over 328.5m. It's just one of many holes that extend to depth ending in mineralization.
In referring to the step out hole GS-19-47 (0.589 g/t Au over 1081.5m including an upper interval of 0.828 g/t Au over 301.5m and a lower interval of 0.930 g/t Au over 207 m), Eric Sprott stated "That's a huge, huge, huge intersection! I've always thought this thing has an easy shot of coming up with 20 million ounces of low-grade gold and there's nothing in these results that will deter me from thinking that, and they're well positioned in terms of logistics". What we're really excited about is the richer intersections for hundreds of meters close to surface throughout the entire Goldstorm system. While this system is proving to be very deep, the reality is it's also becoming a rich gold system close to surface that lends itself towards the possibility of being open pit mined".
Drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA Labs' Geochemical Laboratory in Langley, 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. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold's Exploration Manager, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
About American Creek
American Creek is a Canadian junior mineral exploration company with 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.
A major drill program is presently being conducted at Treaty Creek by JV partner and operator Tudor Gold. There are two drills working on the Goldstorm zone at present.
The Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and acting as operator. American Creek and Teuton Resources each have 20% interests in the project. American Creek and Teuton are both fully carried until such time as a Production Notice is issued, at which time they are required to contribute their respective 20% share of development costs. Until such time, Tudor is required to fund all exploration and development costs while both American Creek and Teuton have "free rides".
More information about the Treaty Creek Project can be found here: https://americancreek.com/index.php/projects/treaty-creek/home
A drill program is also ongoing on American Creek's 100% owned Dunwell Mine property located near Stewart. More information can be found here: https://americancreek.com/index.php/projects/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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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.
This news release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Actual results could differ materially because of factors discussed in the Corporation's management discussion and analysis filed with applicable Canadian securities regulators, which can be found under the Corporation's profile on www.sedar.com. The Corporation does not assume any obligation to update any forward-looking statements.
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