Cardston, Alberta--(Newsfile Corp. - May 10, 2022) - American Creek Resources Ltd. (TSXV: AMK) (OTC PINK: ACKRF) ("the Corporation") is pleased to announce their JV partner Tudor Gold has commenced Phase l of the 2022 exploration program (the "Program") at their flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia. The fully funded Program consists of a 30,000 metre (m) diamond drilling campaign that has been developed to systematically test the extension of the Goldstorm Deposit well beyond the limits that were outlined in the 2021 Mineral Resource Estimate (American Creek press release dated March 9, 2021 reported a Measured and Indicated Mineral Resource of 19.41 million ounces of AuEq grading 0.74 g/t AuEq and an Inferred Mineral Resource of 7.9 million ounces of AuEq grading 0.79 g/t AuEq). In addition, exploration diamond drilling will focus on the Calm Before the Storm (CBS) and Eureka zones (EZ).
The 2021 exploration drilling campaign successfully infilled key areas of Tudor's 2021 Mineral Resource with reported gold and copper grades that were exceptionally higher than grades reported in the 2021 Mineral Resource Estimate. Tudor's 2022 exploration program will test the Goldstorm System for an additional 500 metres along the northeastern axis. (see Goldstorm Phase l Drill Program, plan map). The primary goal of the Program is to expand the size of the initial mineral resource and to define the limits of the mineralized domains.
Three drill rigs have commenced drilling the northern aspects of the Goldstorm Deposit as step-out exploration holes. Additionally, one rig has begun drilling at CBS as follow-up on last years' newly discovered gold-silver system, located 2.5 kilometres northeast of the Goldstorm Deposit. Crews are currently mobilizing an additional four drill rigs to site to 'fast-track' the exploration and potential continued expansion of the Goldstorm Deposit.
For the detailed Goldstorm drill plans Click Here
Ken Konkin, President and CEO, comments "This year we have planned a very robust drilling campaign that will focus 80% of the exploration as continued step-out drilling from the latest impressive 2021 results obtained from holes GS-21-113, GS-21-113-W1, GS-21-113-W2 and GS-21-119 in the northern sector of the Goldstorm Deposit (Table 1). The remaining 20% of planned holes will include Goldstorm resource definition drilling as well as exploration drill holes for CBS and Eureka gold systems. Our exceptional start-up team as done a superb job safely dealing with challenging conditions to mobilize drills and supplies utilizing the Brucejack Lake road to access our winter-haul route. We wish to thank Newcrest Mining for their assistance in allowing us to share the Brucejack access road so we could complete the mobilization of our equipment in a timely and cost-efficient manner. Our Phase ll plans will be contingent to the success of the Phase l drilling; we plan to concentrate our drilling in the areas that contain the strongest mineralization throughout the 300H, CS-600 and DS-5 domains. We also plan to test the hypothesis that the Eureka Zone may be the continuation of the DS-5 domain. The Goldstorm Deposit continues to amaze our geological team as it remains open in all directions and to depth with some of the most impressive and strongest gold-copper mineralization obtained late last year within the northern areas of this deposit."
TABLE 1: SUMMARY OF 2021 STEP-OUT DRILL HOLE RESULTS - GOLDSTORM NORTH
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu ppm||AuEQ (g/t)|
|And Includes (CS600)||1018.50||1575.00||556.50||0.73||6.27||4892||1.38|
Darren Blaney, Chief Executive Officer of American Creek, stated: "We are obviously very pleased and excited to see the commencement of the much anticipated 2022 Treaty Creek exploration program. We have high expectations as to what this program will accomplish in not only significantly expanding the existing gold resource, but also in the very high probability of further significant new discoveries.
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.
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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