Cardston, Alberta--(Newsfile Corp. - December 15, 2022) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation" or "American Creek") is pleased to present the following review of the 2021 and 2022 drill programs (the "Programs") completed at the joint venture Treaty Creek gold-copper project (the "Property") located in the heart of the prolific Golden Triangle Mining Region of Northwestern British Columbia.
The objective of the drill programs in 2021 (totaling 30,108 meters (m) over 30 drill holes) and 2022 (totaling 42,318 meters over 55 drill holes) at Treaty Creek was to complete an aggressive resource expansion and delineation plan on the Goldstorm Deposit. In addition, reconnaissance drilling was conducted and resulted in several discoveries at the Perfectstorm (PS), Eureka (EZ) and Calm Before the Storm (CBS) zones. Despite drilling over 70,000 m at Treaty Creek since the initial mineral resource estimate, the Goldstorm Deposit remains open to the south, north, northeast and at depth. (See below at the end of the release to review a table of previously reported drill intercepts from the Programs. Click the following link to view: corresponding images of the Goldstorm Deposit.)
Highlights of the 2021 and 2022 drill programs include:
- Excellent results from infill and step-out drilling, which consistently encountered stronger than expected gold, copper and silver mineralization outside the previously defined resource area of the Goldstorm Deposit to depth and along the northeastern axis by at least 500 m to the north and northeast. Drill holes in this area were observed to intercept higher grades than those derived from the 2021 Initial Mineral Resource Estimate;
- Extended hole GS-21-113-W2 by 280.1 m, which intercepted higher gold and copper grades at depth within the northern step-out area of the Goldstorm Deposit. This hole returned an intercept of 1,497.5 m of 1.12 g/t AuEQ (0.76 g/t Au, 3.70 g/t Ag, 0.27 % Cu) with the strongest mineralization occurring between 1520 m and 1688 m down hole, averaging 2.48 g/t AuEQ (1.41 g/t Au, 9.07 g/t Ag, 0.82 % Cu) over 168 m;
- Drilled a number of new high-grade intercepts bearing visible gold mineralization within and outside the boundaries of the Goldstorm Deposit, most notably hole GS-22-134, which returned 20.86 g/t AuEQ (20.61 g/t Au, 1.50 g/t Ag, 0.20 % Cu) over 4.5 m within a 25.5 m zone of 9.96 AuEQ (9.66 g/t Au, 1.23 g/t Ag, 0.24 % Cu), and displayed 17 occurrences of visible gold within quartz-pyrite stockwork veins;
- Encountered stronger than expected copper grades within the CS600 domain of the Goldstorm Deposit, most notably hole GS-22-159 which returned an intercept of 1.71 g/t AuEQ (0.92 g/t Au, 6.10 g/t Ag and 0.61 % Cu) over 180 m. This drill hole ended in strong copper mineralization centered on a much larger composite of 489.0 m averaging 1.12 g/t AuEQ (0.66 g/t Au, 3.60 g/t Ag, 0.36 % Cu);
- Confirmed the discovery of a new mineralized zone known as Route 66 located in the southern portion of the Goldstorm Deposit. This new higher-grade gold zone was initially intercepted in 2020 by hole GS-20-66 and was followed up in 2022 by hole GS-22-135; a 100 m step-out hole which intercepted the up-dip expression of the zone, returning 1.42 g/t AuEQ over 55.5 m (1.38 g/t Au, 1.03 g/t Ag, 0.02 % Cu);
- Improved the definition and spatial continuity of the Goldstorm porphyry system which is comprised of four separate mineral domains over an area that measures approximately 2,500 m in length, 1,000 m in width and 1,400 m in depth. The Goldstorm Deposit remains open to the south, north, northeast and at depth;
- New drill discoveries made at Perfectstorm, Calm Before the Storm and Eureka zones with several diamond drill holes intercepting significant gold, copper and silver mineralization. These holes will be followed up by subsequent exploration programs, but the priority will be to drill off the limits to the Goldstorm Deposit for 2023.
Ken Konkin, President and CEO of Tudor Gold, commented: "Over the past two years, we have seen significant expansion to our Goldstorm Deposit during these very successful drill campaigns, particularly in the northern aspect of the deposit. Additionally, we exposed significant precious metal values in three other bulk-tonnage targets: Eureka, Calm Before the Storm and Perfectstorm. Perfectstorm is the largest of these three targets and is located equidistant between the Goldstorm Deposit and Seabridge Gold's Iron Cap Deposit, a mere three kilometers from each of those deposits. The Treaty Creek project continues to hold incredible geological potential for discovery of several large intrusive-related and porphyry-type targets. One of the biggest highlights of the 2021-2022 drilling programs was discovery of a structural corridor located in northern aspect of the step-out drilling which hosts significant fine-grained to coarse-grained visible native gold. In drill hole GS-22-134, our geologists observed 17 grains of native gold over 4.5 m that averaged 20.86 AuEQ (20.61 g/t Au, 1.50 g/t Ag, 0.20 % Cu) (Press Release 2022-07-19). We have not specifically targeted this high-grade corridor, yet numerous drill holes intersected visible gold within the northern aspect to the step-out drilling, this is something we did not expect. We look forward to continuing the step-out drilling in 2023. One very important aspect to consider with the Goldstorm Deposit is that not only are the gold-copper-silver composites grades increasing to the north, but we are maintaining a very high-level of grade consistency throughout this area. As the saying goes: if grade is king of the deposit, then surely consistency should be queen; we clearly have demonstrated that we have excellent consistency throughout the entire deposit."
Results from the 2021 and 2022 drill programs will be included in the next updated Mineral Resource Estimate on the Goldstorm Deposit, which is anticipated to be released in the first half of 2023. Tudor Gold's objective is to optimize the current Mineral Resource by concentrating on higher grades to increase the overall quality of gold, silver, and copper resources. As a result, the Company is focused on delivering an enhanced Mineral Resource Estimate on the Goldstorm Deposit which will improve the overall prospects of the Treaty Creek Project as it advances towards a Preliminary Economic Assessment (PEA).
Darren Blaney, President and CEO of American Creek, stated: "The 2022 exploration program at Treaty Creek was a huge success and we couldn't be more pleased.
"We have been particularly impressed with the consistency of the deposit as well as the higher grades encountered on a regular basis. The mineralization looks better and better as the drilling continues with higher grade gold and significantly increased copper content.
"Copper was recently announced as a critical metal by the Canadian Government given there will be increasing demand for it as the world transitions towards renewable energy sources. The CS (Copper Stream) 600 domain in the Goldstorm deposit is not only becoming more prominent as drilling steps out to the north, but the improving copper aspect of the deposit is adding significant value as well.
"Renowned gold expert Pierre Lassonde recently stated: 'If you can find a copper/gold deposit with a 50-year life…you've got it made; to me that is the absolutely best in the world.' Treaty Creek is showing the potential to be the type of project Lassonde is talking about. And it's located in one of the best mining jurisdictions in the world.
"We congratulate our partner Tudor Gold on the exceptional job they've done and look forward to the updated resource estimate."
Table 1. Select Drilling Highlights from the Goldstorm Deposit at Treaty Creek (Completed in 2021 and 2022)
|Hole||Purpose||Zone(s)||From (m)||To (m)||Interval (m)||Au|
|Cu (ppm)||AuEQ (g/t)|
|GS-21-113||Step-out||300H + CS600||255.0||1227.0||972.0||0.91||3.66||2647||1.27|
|And including (CS600)||822.0||1227.0||405.0||0.65||4.64||6179||1.44|
|GS-21-116||Infill||300H + CS600||296.0||1388.0||1092.0||0.52||2.84||1653||0.75|
|And including (CS600)||1040.0||1388.0||348.0||0.62||3.42||4379||1.18|
|GS-21-113-W2||Step-out||300H + CS600||255.0||1752.5||1497.5||0.76||3.70||2685||1.12|
- 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.
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. 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
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 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:
Phone: 403 752-4040 or Email: firstname.lastname@example.org.
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/148122