Cardston, Alberta--(Newsfile Corp. - July 13, 2022) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation" or "American Creek") is pleased to present the first set of drill results for Phase l of the 2022 exploration program (the "Program") conducted by Tudor Gold at their Joint Venture project, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia.
The Program at the Treaty Creek property includes an aggressive resource expansion and delineation plan on several areas including the Goldstorm Deposit and the Eureka and Calm Before the Storm zones. Results included in this press release are reported from five diamond drill holes that were drilled on the Goldstorm Deposit from sections 109+50 NE, 116+00 NE, and 117+00 NE. All holes were targeted outside the 2021 Mineral Resource Estimate area (see link: corresponding Goldstorm Deposit plan map and sections).
SECTION 109+50 NE
- GS-22-135 intersected 55.50 meters (m) grading 1.42 g/t AuEQ within 190.5 m of 0.80 g/t AuEQ. The hole targeted a high-grade intercept from the 2020 program (GS-20-66) which sits outside of the current resource area. The new zone has been named "Route 66" and warrants further exploration to understand the extents of the system. Visible gold was identified in the drill core.
SECTION 116+00 NE
- GS-22-129 stepped out on the DS5 resource area and returned 28.5 m of 2.33 g/t AuEQ within 89.35 m grading 1.02 g/t AuEQ. Gold and silver mineralization was encountered past the footwall side of the Treaty Thrust Fault 2 (TTF2). The extension of DS5 to the northeast and renewed understanding of the nature of mineralization shows that this domain is vast in size and remains unbounded. GS-22-129 stepped out 150 m from the 2021 drilling.
SECTION 117+00 NE
- GS-22-130 intersected DS5 mineralization grading 1.51 g/t AuEQ over 45.0 m within 91.5 m grading 1.17 g/t AuEQ. Similar to GS-22-129, mineralization was encountered past the footwall of TTF2. GS-22-130 stepped out 175 m from the 2021 drilling.
- GS-22-131 also targeted DS5 and intersected mineralization past the footwall of TTF2, returning 1.07 g/t AuEQ over 26.5 m, within 163.0 m of 0.61 g/t AuEQ. GS-22-131 stepped out 115 m from the 2021 drilling.
- GS-22-133 stepped out 200 m from the 2021 northern drilling extents of 300H and CS600 domains. An exceptional interval of 1.51 g/t AuEQ (0.89 g/t Au, 0.49 % Cu) over 237.3 m was reported within a broader mineralized zone of 0.91 g/t AuEQ over 600.0 m. This confirms the extension of CS600 to the north and shows an increase of gold and copper grades at depth.
Darren Blaney, President and CEO of American Creek, stated: "Every year, the anticipation of the first round of drill results is an exciting time. We are very pleased that once again, Treaty Creek and the Tudor Gold team have delivered the goods, and this first round of very strong expansion drill results is welcomed by our team and shareholders alike as this is shaping up to be another monumental year of development and discovery at one of the most exciting gold projects in the world."
Ken Konkin, President and CEO of Tudor Gold, commented: "We are extremely pleased with the first set of results of our 2022 Goldstorm resource expansion drill program. We continue to encounter strong gold, silver and copper mineralization outside the previously defined resource area. The overall strength and consistency of the Goldstorm system continues to amaze our entire technical team as the deposit remains open in all directions and at depth. We have commissioned the next set of 200 m to 300 m step-out holes based on these overwhelming positive results. Additionally, we have confirmed the discovery of a new zone in the southern portion of Goldstorm which adds yet another dimension to this expanding deposit. Based on an intercept obtained in 2020 from GS-20-66 which was formerly believed to be part of the CS600 Domain (2.15 g/t AUEQ over 75.0 m), the 100 m step-out hole GS-22-135 intercepted an up-dip expression of 1.42 g/t AUEQ over 55.5 m. This has been named Route 66 (R-66). This is clearly a gold-dominant system that exists separate to the known CS600 and DS5 Domains. Drilling continues at a fast pace at Treaty Creek with eight drill rigs on site. Our crews have completed over 20,000 m of drilling to-date and we anticipate more results to be released in a timely manner throughout the summer."
Table 1: Drilling Results Goldstorm in Tudor Gold Press Release July 12, 2022
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEQ (g/t)|
|109+50 NE||GS-22-135(1) (R-66)||185.00||375.50||190.50||0.78||0.74||149||0.80|
|116+00 NE||GS-22-129 (DS5)||968.15||1057.50||89.35||0.88||9.47||297||1.02|
|117+00 NE||GS-22-130 (DS5)||1029.00||1120.50||91.50||1.04||7.30||304||1.17|
|117+00 NE||GS-22-131 (DS5)||1155.50||1318.50||163.00||0.45||4.77||811||0.61|
|117+00 NE||GS-22-133 (300H)||345.00||453.00||108.00||0.57||2.37||63||0.61|
|And (300H, CS600, DS5)||804.00||1404.00||600.00||0.60||2.35||2414||0.91|
|(1) Hole GS-22-132 stopped short of the intended target and was redrilled as GS-22-135. GS-22-132 was not sampled.|
· All assay values are uncut and intervals reflect drilled intercept lengths.
· HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals
· The following metal prices were used to calculate the Au Eq metal content: Gold $1625/oz, Ag: $19/oz, Cu: $2.8/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.01169) + (Cu% x 1.1815). All metals are reported in USD and calculations do not consider metal recoveries.
· True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.
Table 2: Drill data for holes in Tudor Gold Press Release July 12, 2022
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (ᵒ)||Dip (ᵒ)||Depth (m)|
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold's President and CEO, Ken Konkin, P.Geo. Mr. Konkin heads the exploration being conducted at the Treaty Creek Joint Venture Project. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
Diamond 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 located in BC's prolific "Golden Triangle".
The Corporation also holds the Austruck-Bonanza gold property located near Kamloops.
For further information please contact Kelvin Burton at:
Information relating to the Corporation is available on its website at www.americancreek.com
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/130722