Cardston, Alberta--(Newsfile Corp. - June 22, 2020) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") is pleased to report that its JV partner Tudor Gold Corp has added a third diamond drill rig to the 2020 program as they intensify their exploration efforts at our JV flagship property Treaty Creek, located in the Golden Triangle of Northwestern British Columbia. Diamond drilling started on the Goldstorm Zone with two drill rigs in May.
Tudor Gold Corp's V.P. Project Development, Ken Konkin, P.Geo. states: "The drilling has gone very well to-date given the early start in May. Both drill rigs are working extremely well as we outline the peripheral edges of the Goldstorm mineralization. We recognize that in order to achieve the goals of having our preliminary drill measured and drill indicated resource estimate completed for year-end, we need to accelerate our drilling production. The Goldstorm system is proving to be very large, as we have currently delineated 850m along the northeastern axis and 600 meters along the southeastern axis and just over 1080 meters at it's deepest point. Depending on the depths and widths of mineralization encountered, we may require more than three drills to complete this task. Furthermore, we will be drill testing the Perfect Structural Storm (PS2), a new geophysical and geological target located mid-way between our Goldstorm system and Seabridge's Iron Cap deposit. The first holes at PS2 will be located within a cluster of surface samples that have returned anomalous gold values."
The 2020 budget allows for 22,500 meters of drilling on the Goldstorm Zone. The gold-copper-silver mineralization remains open to the northeast and to the southeast, as well as to depth. The goal of the 2020 drilling program is to clearly define the limits of the mineralization to facilitate the resource calculations.
Walter Storm, President and CEO stated: "Our entire team has done an excellent job initiating an early start to our drill program in very difficult winter conditions. I am very pleased with the progress made to date. In an effort to extend our drilling season, we have submitted a permit application to the Ministry of Mines to construct a new drill camp that is much lower in elevation than our current camp. This new camp will be beneficial in extending the drill season into the fall months as crews will be able to access the drills without helicopter support, making it a much safer, cost effective and productive drilling season. We continue to work safely and productively, observing the protocols set out in our COVID-19 safety procedures."
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's Vice President Project Development, 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.
Treaty Creek JV Partnership
The Treaty Creek Project is a Joint Venture with Tudor Gold owning 3/5th and acting as operator. American Creek and Teuton Resources each have a 1/5th interest in the project creating a 3:1 ownership relationship between Tudor Gold and American Creek. 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".
Treaty Creek Background
The Treaty Creek Project lies in the same hydrothermal system as Pretium's Brucejack mine and Seabridge's KSM deposits with far better logistics.
Sulphurets Hydrothermal System
To view an enhanced version of this graphic, please visit:
About American Creek
American Creek is a Canadian junior mineral exploration company with a strong portfolio of gold and silver properties in British Columbia. Two of those properties are located in the prolific "Golden Triangle"; the Treaty Creek and 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
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/58320