Within the Step-Out Area Outside of the Goldstorm Deposit at Treaty Creek Joint Venture
Cardston, November 24, 2022 - American Creek Resources Ltd.
(TSXV: AMK) ("the Corporation" or "American Creek") is pleased to present the ninth and final set of drill results for the 2022 exploration program (the "Program") from operator Tudor Gold at their flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia.
Darren Blaney, American Creek President and CEO stated: "From everyone at American Creek we congratulate and commend the Tudor team on the completion of what can only be described as an amazingly successful Treaty drill program!
"Given that the gold grades keep getting better and better and the amount of silver and copper keeps increasing as the drilling advances, there is obviously tremendous blue sky yet to come. And incredibly, the Goldstorm deposit is still open in every direction and at depth!
"We are very much looking forward to seeing an updated resource."
Ken Konkin, Tudor Gold President and CEO, commented: "We are very pleased to announce results from the Treaty Creek exploration campaign with the release of five drill holes completed on our Goldstorm Deposit. The best result was from the northern step-out area well outside the estimated resource area with hole GS-22-159. The CS600 domain contained 1.71 g/t AuEQ over 180 meters (m) with 0.92 g/t Au, 6.10 g/t Ag and 0.61 % Cu. This drill hole ended in strong copper mineralization and this composite was centred 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). Ground conditions prevented the completion of this drill hole. Also, of significance, silver grades we elevated within several holes of the newly discovered northern extension of the CS600 domain. Drill hole GS-22-162 intersected 1.34 g/t AuEQ over 145.5 m with 0.61 g/t Au, 12.01 g/t Ag and 0.5 % Cu. In addition to expanding the deposit to the north, we were successful in confirming the near-surface, southeasterly expansion of the newly discovered Route 66 Zone that yielded 0.95 g/t AuEQ over 42.0 m. We continue to observe higher gold, silver and copper grades throughout the northern step-out expansion of the Goldstorm Deposit than the grades derived from the 2021 Initial Resource Estimate. Despite significantly expanding the resource limits of the Goldstorm Deposit, it remains open in all directions and at depth. Our geologists will focus their attention on refining the geological model and completing an updated Goldstorm resource for 2023. In addition, numerous samples were collected for on-going petrographic, mineralogical and metallurgical studies that will be carried out during the following winter months.
"We thank and congratulate our staff and contractors for their safe and professional conduct in making the 2022 exploration season at Treaty Creek such a successful program."
The Program at the Treaty Creek property included 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 110+00 NE, 117+00 NE, 118+00 NE, M and N). At Goldstorm, four 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 110+00 NE
- GS-22-160 was drilled to target the gold-dominant Route 66 zone. An intercept of 42.0 m grading 0.95 g/t AuEQ (0.87 g/t Au, 1.66 g/t Ag, 0.05 % Cu) was returned that included a higher-grade segment of 1.91 g/t AuEQ (1.83 g/t Au, 1.02 g/t Ag, 0.06 % Cu) over 13.5 m.
SECTION 117+00 NE
- GS-22-162 was drilled to target the CS600 domain, just outside of northeastern edge of the 2021 mineral resource area. An intercept of the CS600 gold-copper porphyry system was intercepted over a drill length of 258.0 m averaging 1.03 g/t AuEQ (0.56 g/t Au, 8.42 g/t Ag, 0.31 % Cu) with an enriched zone of 1.34 g/t AuEQ (0.61 g/t Au, 12.01 g/t Ag, 0.5 % Cu) over 145.5 m.
SECTION 118+00 NE
- GS-22-161 was drilled as a 150 m northeastern step-out from the 2021 mineral resource area. An intercept of the gold-copper porphyry system was intercepted over a drill length of 185.0 m averaging 1.26 g/t AuEQ (0.74 g/t Au, 6.06 g/t Ag, 0.38 % Cu) with an enriched segment of 72.0 m grading 1.57 g/t AuEQ (0.85 g/t Au, 6.27 g/t Ag, 0.55 % Cu). This hole demonstrates the strong continuity of gold-copper porphyry mineralization in the host intrusive to the northeast and that the CS600 system remains completely open in this direction.
- GS-22-157 was drilled to determine the deep extension of mineralization along CS600, south of GS-21-113-W2. A drill length intercept of 220.5 m of 0.90 g/t AuEQ (0.41 g/t Au, 7.88 g/t Ag, 0.33 % Cu) as well as an enriched zone of 89.5 m of 1.09 g/t AuEQ (0.44 g/t Au, 7.63 g/t Ag, 0.48 % Cu) clearly demonstrates the continuity of the gold-copper porphyry intrusive system at depth.
- GS-22-159 was drilled to determine the deep extension of mineralization along CS600, north of GS-21-113-W2. A drill length intercept of 489.0 m of 1.12 g/t AuEQ (0.66 g/t Au, 3.60 g/t Ag, 0.36 % Cu) as well as an enriched zone of 180.0 m of 1.71 g/t AuEQ (0.92 g/t Au, 6.10 g/t Ag, 0.61 % Cu) strongly demonstrates the continuity of gold-copper porphyry intrusive system at depth and to the north. This hole ended in mineralization
Table 1: Drilling Results for Goldstorm Deposit in Press Release November 23, 2022
|Section ||Hole ||From (m) ||To (m) ||Interval (m) ||Au (g/t) ||Ag (g/t) ||Cu (ppm) ||AuEQ (g/t) |
|M ||GS-22-157 (300H) ||381.00 ||586.50 ||205.50 ||0.63 ||2.80 ||230 ||0.69 |
| ||Including ||390.00 ||409.50 ||19.50 ||1.25 ||1.18 ||58 ||1.27 |
| ||And ||1080.00 ||1129.50 ||49.50 ||0.64 ||1.20 ||191 ||0.68 |
| ||And (CS600) ||1659.00 ||1879.50 ||220.50 ||0.41 ||7.88 ||3329 ||0.90 |
| ||Including (CS600) ||1665.00 ||1754.50 ||89.50 ||0.44 ||7.63 ||4760 ||1.09 |
|N ||GS-22-159 (300H) ||579.00 ||610.50 ||31.50 ||0.87 ||3.73 ||129 ||0.93 |
| ||And ||651.00 ||726.00 ||75.00 ||1.56 ||4.90 ||82 ||1.63 |
| ||Including ||667.50 ||679.50 ||12.00 ||4.76 ||11.32 ||94 ||4.91 |
| ||And (CS600) ||1140.25 ||1629.0 ||489.0 ||0.66 ||3.60 ||3574 ||1.12 |
| ||Including ||1291.50 ||1471.50 ||180.00 ||0.92 ||6.10 ||6131 ||1.71 |
|110+00 NE ||GS-22-160 (300H) ||75.00 ||181.50 ||106.50 ||0.95 ||2.28 ||136 ||0.99 |
| ||Including ||106.50 ||138.00 ||31.50 ||1.43 ||5.40 ||333 ||1.53 |
| ||And ||213.00 ||260.00 ||47.00 ||0.69 ||1.10 ||78 ||0.71 |
| ||And (Route 66) ||432.00 ||474.00 ||42.00 ||0.87 ||1.66 ||534 ||0.95 |
| ||Including ||448.50 ||462.00 ||13.50 ||1.83 ||1.02 ||562 ||1.91 |
|117+00 NE ||GS-22-161 (CS600) ||870.50 ||1055.50 ||185.00 ||0.74 ||6.06 ||3809 ||1.26 |
| ||Including ||910.00 ||982.00 ||72.00 ||0.85 ||6.27 ||5493 ||1.57 |
|118+00 NE ||GS-22-162 (CS600) ||792.00 ||1050.00 ||258.00 ||0.56 ||8.42 ||3124 ||1.03 |
| ||Including ||898.50 ||1044.00 ||145.50 ||0.61 ||12.01 ||5022 ||1.34 |
- 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 November 23, 2022
|Section ||Hole ID ||UTM E NAD 83 ||UTM N NAD 83 ||Elevation (m) ||Azi (ᵒ) ||Dip (ᵒ) ||Depth (m) |
|M ||GS-22-157 ||428804.46 ||6273271.67 ||1326.91 ||290 ||-54 ||1932 |
|N ||GS-22-159 ||428925.03 ||6273439.09 ||1397.48 ||320 ||-66 ||1386 |
|110+00 NE ||GS-22-160 ||428781.20 ||6273288.86 ||1345.30 ||323 ||-53 ||1635 |
|117+00 NE ||GS-22-161 ||428421.82 ||6272836.42 ||1323.19 ||112 ||-45 ||726 |
|118+00 NE ||GS-22-162 ||428933.26 ||6273444.28 ||1397.98 ||310 ||-73 ||1121 |
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: 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.
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.