Cardston, Alberta--(Newsfile Corp. - December 31, 2019) - American Creek Resources Ltd. (TSXV: AMK) (OTC Pink: ACKRF) ("American Creek") ("the Corporation") is pleased to report that Canadian billionaire Eric Sprott has invested an additional $2,900,000 in our JV partner Tudor Gold for the upcoming 2020 drill program on Treaty Creek, located in the "Golden Triangle" of Northwestern British Columbia.
The 2019 drilling at Treaty Creek was very successful and produced some of the most significant gold intercepts in the exploration industry. The focus has been on the gold enriched Goldstorm Zone which is on trend with Seabridge Gold's Iron Cap Zone located approximately five kilometers to the southwest. Drilling was designed to define a gold deposit with the potential of being open pit mined.
The Treaty Creek Project is a joint venture with Tudor Gold owning 3/5th and acting as project operator. American Creek and Teuton Resources each have a 1/5th interest 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".
Darren Blaney, CEO of American Creek stated: "Mr. Sprott has now made multiple significant investments in Tudor Gold in 2019 for the development of the Treaty Creek property. On December 13, 2019 Mr. Sprott stated: "Treaty Creek has a great shot at having 20 million ounces, the holes are so deep, they have a thousand-meter holes that are running close to a gram a ton and it's wide open, so I'm very excited about the opportunity there". He continues to put his money where his mouth is and has given another huge endorsement to the Treaty Creek project with this latest significant injection of cash. He also made two prior $1,000,000 investments in American Creek earlier in 2019."
The Treaty Creek Project lies in the same hydrothermal system as Pretium's Brucejack mine and Seabridge's KSM deposits however, the Treaty Creek project has far better logistics.
Sprott Weekly Roundup
On December 27, 2019 Sprotts "Weekly Roundup" show hosted Bob Thompson, Senior Vice President of Raymond James in Vancouver who does an excellent job at describing where we are on the "Mining Clock" along with other valuable insights into the precious metals industry.
We highly recommend you take a few minutes to listen:
About American Creek
American Creek is a Canadian 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.
More information about the Treaty Creek Project can be found here: https://americancreek.com/index.php/projects/treaty-creek/home
An exploration program is 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
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51109