Cardston, Alberta--(Newsfile Corp. - June 28, 2023) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("the Corporation" or "American Creek") is pleased to announce that project operator and JV partner Tudor Gold ("Tudor") has commenced drilling at the Perfectstorm Zone as part of the ongoing 25,000-meter (m) diamond drill program (the "Program") at Treaty Creek (the "Property"), situated in the heart of the Golden Triangle in northwestern British Columbia. Since the beginning of this year's Program, Tudor has successfully completed over 10,000 m of drilling, including infill and step-out holes within the area that encompasses the Goldstorm Deposit.
Tudor Gold currently has six drill-rigs in operation with four of these drill-rigs continuing to target mineralization at the Goldstorm Deposit. An additional drill rig was mobilized to test the northeastern extents of the Goldstorm Deposit, while the 6th drill rig is focused on the Perfectstorm Zone.
For a visual representation of the drill hole locations at Goldstorm, please click to see the Goldstorm Deposit plan map.
Ken Konkin, Tudor Gold's President and CEO, commented: "We are very excited to begin drilling at Perfectstorm, which is positioned equidistant between Tudor Gold's Goldstorm Deposit and Seabridge Gold's Iron Cap Deposit (click to see Treaty Creek Property Map). Drilling at Perfectstorm will build upon the progress made through previous initial drilling of six wide-spaced drill holes spanning a strike length of 1.3 kilometers. These holes successfully intercepted substantial widths of favorable gold, silver, and copper mineralization. Notable results include hole PS-21-06, which encountered 118.6 m averaging 0.66 g/t gold. These results include an uppermost portion averaging 0.84 g/t gold over 59.9 m. Given that only a small portion of the targeted magnetic anomaly has been explored at Perfectstorm, there is immense potential for a significant expansion of the mineralized area, thus making it a valuable addition to the Treaty Creek Project. The first of several planned drill holes will be collared at least 400 m west and west-northwest of PS-21-06 over the best surficial gold-geochemical rock sample results obtained from our last two years of surficial mapping and sampling programs (click to see the Perfectstorm plan map and cross-section).
"Additionally, the drilling program at the Goldstorm Deposit has progressed exceptionally well this season. Several early 150 to 200-m step-out holes in the northern and northeastern area have intersected substantial sulphide and sulfosalt mineralization. As a result, the technical team has decided to construct new drill pads up to 300 m to the northeast, to target the potential extension of the deposit with the fifth drill rig. The expansion of the CS-600 and DS5 domains in this direction indicates further growth opportunities for the project as we are now drilling at full capacity with all six drill-rigs."
Tudor will provide results from the Program once the final assays are received and compiled.
The Qualified Person for this news release for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") is Tudor Gold's President and CEO, 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. 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.
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.
About Treaty Creek
The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the March 2023 News Release, the Goldstorm Deposit has an Indicated Mineral Resource (as defined in NI 43-101) of 23.37 Moz of AuEq grading 1.13 g/t AuEq (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource (as defined in NI 43-101) of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq and an underground cut-off of 0.7 g/t AuEq. The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEq grading 1.19 g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.
1 AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
Treaty Creek JV Partnership
American Creek is a proud partner in the Treaty Creek Project.
The 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 hold fully carried 20% interests, which means no development costs are incurred by these companies until a production notice is issued. This gives shareholders a unique opportunity, to avoid the dilutive effects of exploration while maintaining their full 20% exposure to one of the world's most exciting mega deposits.
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/171599