American Creek Reports 973 Meters Averaging 0.845 gpt AuEq From Hole GS-20-57, Including 1.40 gpt AuEq Over 217.5 Meters Making It the New Best Drill Intercept for the Treaty Creek Property In BC'S Golden Triangle
July 09, 2020 at 11:55 AM EDT
Cardston, Alberta--(Newsfile Corp. - July 9, 2020) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") is pleased to report that its JV partner Tudor Gold Corp announced today that it has completed the first set of diamond drill holes at their flagship property, Treaty Creek located in the heart of the Golden Triangle of Northwestern British Columbia. Diamond drilling is progressing very well on the Goldstorm Zone which is on-trend from Seabridges' KSM Project located five kilometers southwest of our Goldstorm system. Two additional drills have been mobilized to the project to bring the total to four diamond drill rigs. Tudor Gold intends to extend the diamond drill hole program up to possibly 35,000 meters from the original plan of 20,000 meters and is fully funded to do so. The initial drilling this season has yet to delineate the limits of the Goldstorm system as it remains open in all directions and to depth.
Tudor Gold's Vice President of Project Development, Ken Konkin, P.Geo., states: "The priority was to expand the Goldstorm System to the southeast and to the northeast, however drilling began in the central and southwest areas where grades were weaker within the overall system. The objective was to either expand the known area of mineralization or to define its limits. We were pleasantly surprised to see the strength of mineralization encountered in drill hole GS-20-57 which has an enriched interval that averages 1.40 gpt AuEq over 217.5 meters (544.5 to 762.0 meters). The entire intercept has a composite average of 0.845 gpt AuEq over 973.05m (34.50 to 1077.55 meters). We were confident that we could surpass our former best intercept of GS-19-47 with 0.697 gpt AuEq over 1081.5 meters, but we never thought we'd find such a wide extent of mineralization in the central-southwest portion of the system. As well, we attempted to expand the limits in the southeast part of the system where we had some elevated spikes in gold grades from our 2019 drilling. Two of our first five drill holes cut Visible Gold in holes GS-20-55 and GS-20-58 on Section 110+00 NE. The highest gold value was from GS-20-55 with 37.7 gpt Au and 44.8 gpt Ag over 1.0 meter (428.5 to 429.5 meters). The native gold occurrences both came from the CS-600 Zone which has an enriched portion that averages 1.34 gpt AuEq over 69.0 meters from 360.5 to 429.5 meters. The northeastern extension to Goldstorm is the main event of this program and we will begin drilling this area in mid-July."
The two tables below provide the complete list of drill hole results as well as the drill hole data including hole location, elevation, depth, dip and azimuth. The four sections included at the bottom of the news release and on the Company's (Tudor) website show the new drill holes plotted on their respective sections.
Table lI Drill hole data for the first nine holes of the 2020 drilling program in the Goldstorm Zone.
Tudor Gold Corp and our associated service companies have taken extreme measures to maintain the highest professional standards while working within COVID-19 health and safety protocols. Only essential personnel are permitted to enter the camp and staging areas. Of those who are at the project site and staging site, we have strict daily monitoring of the workers' temperatures and general health conditions. We have a certified paramedic at the staging area to examine all in-coming and out-going Tudor personnel and all service providers.
Darren Blaney, CEO of American Creek, stated: "The results we have seen in this initial 2020 work at Treaty Creek exceeded expectations. This bodes very well for the next phase of drilling that Mr. Konkin has referred to as the "Main Event", which will be focused on the northeast extension where the best grades have come from in the past. The fact that the Goldstorm system remains open in all directions, including at depth, clearly indicates the enormous potential this target has."
The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's Vice President of Project Development, 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.
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".
Treaty Creek Background
The Treaty Creek Project lies in the same hydrothermal system as Pretium's Brucejack mine and Seabridge's KSM deposits with far better logistics.
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About American Creek
American Creek is a Canadian junior mineral exploration company with a strong portfolio of gold and silver properties in British Columbia.
Two of those properties are located in the prolific "Golden Triangle"; the Treaty Creek JV with Tudor Gold/Walter Storm as well as the 100% owned past producing Dunwell Mine.
More information about the Treaty Creek Project can be found here: https://americancreek.com/index.php/projects/treaty-creek/home
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: email@example.com. 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.
This news release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Actual results could differ materially because of factors discussed in the Corporation's management discussion and analysis filed with applicable Canadian securities regulators, which can be found under the Corporation's profile on www.sedar.com. The Corporation does not assume any obligation to update any forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59463