Cardston, Alberta--(Newsfile Corp. - May 26, 2021) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") is pleased to announce the commencement of the 2021 exploration program at their flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia. Diamond drilling has begun on the Goldstorm Deposit, which is on-trend from Seabridge Gold's KSM Project located five kilometers to the southwest. The first two drills have arrived and have begun drilling the 30,000 meter, fully funded, Phase l exploration program. Six drills will be used for this deposit delineation and property exploration program.
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Tudor Gold's Vice President of Exploration and Project Development, Ken Konkin, P.Geo., states: "Crews have been on site for several weeks preparing our drill camp and our lower exploration camp to receive our first two drill teams. This season had a remarkably deep snowpack compared to that of previous years. Our crews took advantage of the high snow level and excellent weather conditions during April and May to transport heavy equipment and drilling supplies to our site utilizing the South Treaty Glacier route. Avalanche technicians safely guided the convoy of equipment over the pass that connects to the Pretium Resources' Knipple Glacier ice road.
The priority of our exploration program this year is to define the limits of the Goldstorm Deposit, as it currently remains open to expansion in all directions and at depth. Furthermore, we will attempt to convert as much of the 7.9 million ounces of gold equivalent (AuEq) Inferred Resources to the Measured and Indicated Resource categories that currently total 19.41 million ounces of AuEq. In addition to drilling at Goldstorm (GS), we will also continue our drilling at Perfect Storm (PSZ) and other targets, including the Eureka Zone (EZ). Approximately 90% of the planned drilling will be undertaken at Goldstorm while two 300-meter southwestern step-out holes are initially planned for Perfect Storm, and one hole at Eureka. We expect to add two more drills in the following week."
Tudor Gold Corp and our associated service companies have taken extreme measures to maintain the highest professional standards while working within COVID-19 health and safety protocols. Only essential personnel are permitted to enter the camp and staging areas. Of those workers who are at the project site and staging site, we have strict daily monitoring of the workers' temperatures and general health conditions. We have a certified paramedic at the staging area to examine all in-coming and out-going workers of all Tudor personnel and all service providers.
Walter Storm, Tudor Gold President and CEO, stated: "We are all very pleased to see the safe start-up of the 2021 exploration program thanks to the hard work and dedication of our crews. I would also like to thank our good neighbours along our southern boundary; we very much appreciate the management and staff at Pretium Resources for their assistance and permission to transport vital heavy equipment and drill supplies to our site from their Brucejack Mine access road. Last year we completed our most successful exploration season at Treaty Creek, which provided the results for our Initial Mineral Resource Estimate. Our goal this year is to complete the drilling of the Goldstorm Deposit to hopefully expand and finalize the Mineral Resource Estimate. With this, we can then proceed with a Preliminary Economic Assessment (PEA) for 2022. We also have several high-level targets to explore at Treaty Creek, with the goal of identifying the nature and grade of gold distribution within the Perfect Storm and Eureka targets."
Darren Blaney, American Creek Resources CEO, states: "We are very excited to see drilling resume at Treaty Creek and look forward to a busy summer for Tudor Gold and their team. Following an exceptional program last year, we look forward to more of the same. Treaty Creek has become such a remarkable project. Getting off to an early start in 2021 was eagerly anticipated by management and shareholders."
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".
About American Creek
American Creek is a Canadian junior mineral exploration company with gold and silver properties in British Columbia, Canada.
The Corporation has an interest in the Treaty Creek property, a joint venture project with Tudor Gold/Walter Storm located in BC's prolific "Golden Triangle".
The Corporation also holds the Austruck-Bonanza gold property located near Kamloops.
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.
Cautionary Statements regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Corporation expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that the Corporation's planned exploration activities will be completed in a timely manner. Although the assumptions made by the Corporation in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators.
Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
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