Cardston, Alberta--(Newsfile Corp. - September 13, 2022) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation" or "American Creek") is pleased to present the sixth set of drill results for the 2022 exploration program (the "Program") from operator Tudor Gold at their flagship property, the Treaty Creek JV, located in the heart of the Golden Triangle of Northwestern British Columbia.
Tudor Gold President and CEO Ken Konkin comments, "We are extremely pleased to announce the on-going success of the step-out drilling at our Goldstorm Deposit. Yet another drill hole has intersected high-grade gold within the northeastern front of this Deposit. Drill hole GS-22-151-W1 was designed to undercut values obtained from GS-22-134 which yielded 0.97 g/t AuEQ over 663.0 m with an enriched zone of 1.76 g/t AuEQ over 205.5 m additionally this intercept contained a high-grade gold-bearing pyritic quartz breccia of 20.86 g/t AuEQ over 4.5 m with multiple grains of visible gold (reported July 19, 2022). GS-22-151-W1 intersected a semi-massive pyrite-quartz breccia, hydrothermal stockwork, approximately 275 m below the GS-22-134 high-grade gold intercept. This high-grade 1.5 m intercept of 59.53 g/t AuEQ within GS-22-151-W1 represents a 350-meter step-out intercept from the 2021 drilling. Our technical team views this as a significant discovery as these high-grade intercepts may be connected but further drilling is recommended to confirm the orientation and consistency along the structural corridor which hosts these and other recently reported high-grade intercepts within the northeastern aspect of the Goldstorm Deposit. Drilling results from hole GS-22-151-W1 have been partially received to date and have been reported as such. Complete assays for incomplete holes included here will be fully reported in the subsequent drill results release."
"Additionally, we are enjoying success with our in-fill drill program. Drill hole GS-22-154 was drilled in-place of GS-22-152 which was stopped due to extreme hole deviation that could not be corrected. GS-22-154 intersected 2.02 g/t AuEQ over 180 m with an enriched core that carried 3.18 g/t AuEQ over 93 m within the 300H domain. However, much higher gold values of 4.38 g/t AuEQ over 57 m with an enriched portion of 7.84 g/t AuEQ over 15 m were intersected in the upper portion of the fore-mentioned 3.18 g/t AuEQ over 93 m."
"We have reported results from approximately 60% of the holes completed to-date. After drilling is completed, we will plan to incorporate these recent extraordinary results into an updated NI 43-101 Mineral Resource Estimate for 2023. The Goldstorm Deposit remains open in all directions and at depth."
Natalie Senger, VP Resource Development, adds: "These drill results will contribute to the redefinition of the Copper Belle and Goldstorm resource domains. The 2021 and 2022 drilling has significantly improved our understanding of the continuity of mineralization, especially within the inferred resource portions of the DS5 and CS600 domains. Tudor's objective is to optimize the resource domains by focusing on the most contiguous portions of mineralization with the highest grades, while optimizing the overall ounces of gold, silver, and copper. We are confident that the next NI 43-101 Mineral Resource Estimate will provide a much more robust model on which to develop the project and to continue exploration where necessary."
The Program at the Treaty Creek property includes an aggressive resource expansion and delineation plan for 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 (Sections 111+25 NE, 116+50 NE, and Section I). At Goldstorm, three out of five holes were drilled partially or completely outside the 2021 NI 43-101 Mineral Resource Estimate area (see link: corresponding Treaty Creek plan map and sections).
SECTION 111+25 NE
- GS-22-153 was drilled to target the footwall of the Treaty Thrust Fault 1 (TTF1) where the March 2021 NI 43-101 Mineral Resource Estimate classified the area largely as Inferred Mineral Resource. The drill hole successfully intercepted TTF1, below which intercepted 180.0 m grading 1.02 g/t AuEQ (0.96 g/t Au, 3.68 g/t Ag, 0.02 % Cu) within a broader envelope of 0.75 g/t AuEQ (0.70 g/t Au, 3.20 g/t Ag, 0.01 % Cu) over 355.3 m.
SECTION 116+50 NE
- GS-22-154 was drilled to target an area downdip of the CS600 domain, which exists outside of the March 2021 Mineral Resource area. The drill hole also intersected the 300H domain and encountered significant mineralization; 93.0 m grading 3.18 g/t AuEQ (3.12 g/t Au, 4.59 g/t Ag, 0.01 % Cu) within a 180.0 m envelope of 2.02 g/t AuEQ (1.97 g/t Au, 3.72 g/t Ag, 0.01 % Cu). Assays for the CS600 interval are pending and will be released in the next drill results release.
- GS-22-151 was drilled to target a 150 m step out from GS-22-133. The hole shallowed more than expected and the drill hole was terminated, and a new wedge drill hole (GS-22-151-W1) was drilled from this drill hole. Prior to termination, the hole reached mineralization that averaged 1.20 g/t AuEQ (1.19 g/t Au, 0.66 g/t Ag, 0.01 % Cu) over 18.0 m.
GS-22-151-W1 continued from its parent drill hole GS-22-151 to intersect the northwest extent of CS600. A high-grade interval of 59.53 g/t AuEQ (59.30 Au, 12.80 g/t Ag, 0.07 % Cu) over 1.5 m was drilled at the hanging wall side of the CS600 domain within a broader envelope of 202.5 m grading 1.27 g/t AuEQ, (0.93 g/t Au, 1.92 g/t Ag, 0.27 % Cu). Assays for the complete CS600 interval are pending and will be released in the next drill results release.
Table 1: Drilling Results for the Goldstorm Deposit in Press Release September 13, 2022
|Section||Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (ppm)||AuEQ (g/t)|
|n/a||GS-22-152(1)||No significant values|
|111+25 NE||GS-22-153 (300H)||303.20||658.50||355.30||0.70||3.20||136||0.75|
|116+50 NE||GS-22-154 (300H)||418.50||598.50||180.00||1.97||3.72||124||2.02|
(1) Drill hole GS-22-152 was terminated prior to target due to unfavourable deviation. Drill hole was re-drilled as GS-22-154.
- 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 Press Release September 13, 2022
|Section||Hole ID||UTM E NAD 83||UTM N NAD 83||Elevation (m)||Azi (?)||Dip (?)||Depth (m)|
(1) Preliminary assays reported to 946.5 m in this press release. Complete results to be released in the following press release.
(2) Preliminary assays reported to 1236.0 m. Complete results to be released in the following press release.
Darren Blaney, President, and CEO of American Creek commented, "High-grade intervals at Treaty Creek are far more extensive than previously thought. Mr. Konkin, who was instrumental in the development of the neighboring Brucejack mine (Newcrest Mining), is seeing similarities in the geology at the Goldstorm deposit on Treaty Creek. These "Brucejack-like" structures are adding a new dimension to an already world-scale deposit. We commend Mr. Konkin for his determination, as recently stated in an interview, to put his head down and drill right through the market lows. Even though it's not being reflected in the current market, incredible value is being added to Treaty Creek with each new set of drill results."
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.
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