Cardston, Alberta--(Newsfile Corp. - January 11, 2022) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") is pleased to present the final drill results from the 30,108 meter, 2021 resource expansion and definition drilling program for the Goldstorm Deposit and Calm Before the Storm Zone (CBS), as well as surface sampling results from the Eureka Zone, at their flagship property, Treaty Creek (the "Project"), located within the Golden Triangle of Northwest British Columbia.
Included in this press release are the results of three diamond drill holes that were completed at the Goldstorm Deposit along sections 113+00 NE and 118+00 NE, 500 metres apart, as well as the third exploration diamond drill hole at the recently discovered Calm Before the Storm Zone. Results of a continuous surface channel sample line completed at the Eureka Zone are also included.
The Copper Belle-Goldstorm Deposit (CB-GS) is situated only five kilometers northeast and on trend from Seabridge Gold's KSM deposits, which comprise one of the largest undeveloped gold and copper projects in the world. The CB-GS Deposit currently hosts a *NI 43-101 compliant Measured and Indicated Mineral Resource of 19.4 million ounces of AuEq grading 0.74 g/t AuEq and an Inferred Resource of 7.9 million ounces of AuEq grading 0.79 g/t AuEq (see American Creek press release dated March 9, 2021).
Drilling and Surface Sampling Highlights include:
- GS-21-125 intercepted the DS5 domain, which averaged 0.82 g/t AuEq over 258.0 m, including 1.91 g/t AuEq over 85.4 m. The hole ended in gold-copper mineralization as unstable ground conditions prevented the completion of the hole.
- GS-21-127, the farthest northeast step-out hole completed to date (approximately 200 m northeast of GS-21-119), targeted the deep DS5 domain. This hole successfully intersected the top of DS5 and ended in mineralization before being shut down due to poor field conditions. Results include 0.75 g/t AuEq over 46.5 m and 0.43 g/t AuEq over 70.0 m, which extended to the end of the hole. This target will be re-drilled in 2022.
- GS-21-128 targeted the easterly extension of the CS600 and DS5 domains. The hole intercepted 0.61 g/t AuEq over 43.9 m within CS600. The hole ended in mineralization as field conditions prevented completion of the hole; the final 17.6 m averaged 1.31 g/t AuEq. This intersection is currently interpreted to be the upper part of DS5 and plans are to re-drill this target in 2022.
CALM BEFORE THE STORM
- CBS-21-03 returned a near-surface interval that graded 0.85 g/t AuEq over 25.5 m and a second significant interval of mineralization farther down the hole that averaged 0.61 g/t AuEq over 33.15 m, with an enriched mineralized core of 0.94 g/t AuEq over 10.0 m.
- CBS-21-03 confirms that gold mineralization is gaining strength westward and to depth.
EUREKA SURFACE SAMPLING
- Channel sample line EK-21-CHN-01 extended the Eureka Zone 300 m to the north of previous drilling intercepts with a continuous surface sample line returning 0.72 g/t AuEq over 139.0 m, including 1.01 g/t AuEq over 69.0 m.
- Plans for 2022 include drilling the area beneath this channel sample line, as well as testing the current model that Eureka may be the eastern extension to surface of the DS-5 domain of the Goldstorm Deposit.
Tudor Gold's President and CEO, Ken Konkin, P.Geo., states: "We are pleased to have completed the 2021 exploration season on a very positive note, having demonstrated that the Goldstorm Deposit still remains open in all directions and at depth. We have significantly expanded the Goldstorm system to the northwest, north, northeast and southeast, in addition to reporting some of our longest and strongest gold-copper mineralized intercepts that surpassed even the results obtained from last years' extremely successful drill program. Our primary goal is to define the ultimate limits of gold-copper-silver mineralization of the Goldstorm Deposit so we can determine the final resource estimate. We are committed to increasing our efforts for 2022 to achieve this goal.
Exploration in other areas of the Property demonstrated that the Eureka System continues 300 meters to the north from our well-mineralized exploration drill hole EK-21-01 (Press Release September 28th, 2021) that confirmed the near-surface presence of a large gold target. Other notable achievements of 2021 were the successful expansion of the Perfect Storm System, located two kilometres southwest of Goldstorm, and the discovery of the Calm Before the Storm (CBS) system located two kilometres northeast of the Goldstorm Deposit. The Treaty Creek project has now ballooned with the addition of these three new drill targets that will be explored in tandem with definition drilling of the Goldstorm deposit limits in 2022. Our geological team is currently focusing their efforts over the next few weeks to complete the plans for the proposed 2022 diamond drill program. Leading the geological team is our new Vice President of Resource Development, Ms. Natalie Senger (P.Geo.). It's very rewarding for me to see the professional development and advancement of such a deserving geoscientist, who I have had the pleasure of working with during my career."
The complete list of the above reported composited drilling results for Goldstorm and CBS, as well as the drill hole data, including hole location, elevation, depth, dip and azimuth, are provided in Table 1 and Table 2, respectively. Rock channel sample results from Eureka trenching are shown in Table 3. Please click on the following link to view: Plan Map and Cross Sections for the drilling and surface samples reported in this news release.
Table 1: Drilling Results Goldstorm and CBS Zone in Press Release January 11th, 2022
Table 2: Drill data for holes in Press Release January 11th, 2022
Table 3: Surface Sample Results in Press Release January 11th, 2022
1* In April 2021 Tudor published a NI 43-101 technical report, "Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British Columbia Canada" dated March 1, 2021 on the Company's Sedar profile.
Darren Blaney, CEO of American Creek, commented: "It has been an amazing year of discovery at Treaty Creek. Even through some of these last holes stopped short due to conditions, they are showing an extension of mineralization at Goldstorm and will be re-drilled next year. The fact some holes weren't completed due to poor field conditions demonstrates our partner Tudor Gold's resolve to maximise the drilling season beyond the norm and advance the project as quickly as possible. We would like to acknowledge Walter Storm, Ken Konkin, Sean Pownall, and the rest of the team at Tudor Gold for the exceptional work they have done at Treaty Creek.
Tudor has not only expanded the dimensions of the Goldstorm, but has commenced preliminary work on the Perfect Storm and Eureka zones along with discovering a new zone called The Calm Before the Storm. The Goldstorm deposit remains open in all directions and appears to be getting richer and deeper as it extends to the north giving us lots to look forward to in 2022."
Sulphurets Hydrothermal System
The Qualified Person for Tudor's news release for the purposes of National Instrument 43-101 is Tudor's President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for their disclosure contained in their news release.
The Qualified Person for this news release is James A. McCrea, P. Geo., for the purposes of National Instrument 43-101. While American Creek has not independently confirmed Tudor's information, Mr. McCrea has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
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.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109682