American Creek Resources Ltd. (TSXV:AMK) (“American Creek”) is pleased to report that Tudor Gold Corp. (“Tudor”) has released the assays for the remainder of hole CB-16-03, a newly discovered gold zone at the Treaty Creek JV Project located in BC’s “Golden Triangle” immediately north of Seabridge Gold’s KSM project and in the same region as … Continued
Hole CB-16-03 returned 0.526 g/t gold over 629.7 meters. Significantly, included within this wide 629.7 meter interval is 338 meters of 0.70 g/t gold (from 88 meters to 426 meters) which included 54 meters (from 88 to 142 meters) of 1.117 g/t gold and 122 meters (from 304 to 426 meters) of 0.965 g/t gold. The drill hole terminated at 717.7 meters in mineralization with the final 13.7 meters averaging 0.315 g/t Au.
The 338 meter intersection of near surface 0.70 g/t gold in hole CB-16-03 represents the best mineralized intersection discovered to date at Treaty Creek. The hole is located approximately 870 meters northeast of drill hole CB-09-14, which returned 241 meters averaging 0.80 g/t gold.
Walter Storm, CEO and President of Tudor Gold stated: “The complete results from CB-16-03 confirm our belief that Treaty Creek holds the potential to host significant gold mineralization and validates our exploration model. To date, we have successfully hit gold mineralization down to 717 meters downhole and have encountered nearer to surface gold mineralization like the 1.12 grams gold per tonne over 54 meters starting at 88 meters downhole, which opens up the targeted area.”
Drill Hole CB-16-03 was drilled at an azimuth of 292º with an inclination of -73º and was collared approximately 550 meters northeast of the nearest of the Copper Belle zone drill holes CB-09-11 which carried 229m of 0.52 g/t gold from 40m to 270 m, CB-09-10 which carried 212m of 0.47 g/t gold from 119m to 331 m and CB-09-06 which carried 65.3m of 0.84 g/t gold. The new gold intercept encountered in CB-16-03 may represent a new mineralized zone or could possibly be an extension of the previously known Copper Belle Zone. Further work will be required in order to investigate the continuity between these areas. The casing has been left in place so the hole may be re-entered and extended if desired. All intervals are down hole widths as there is not enough information to calculate true widths of the mineralization encountered in any of the holes.
Hole CB-16-03 was drilled to test a geophysical anomaly identified on a preliminary Magnetotelluric (MT) profile along Seabridge Gold’s proposed tunnel route and further defined based on a survey carried out by Simcoe Geoscience Ltd. earlier in the season. Tudor awaits the final results of the MT survey.
Tudor previously released partial assay results from hole CB-16-03 (316 to 717.7 meters downhole), along with complete assays for drill holes CB-16-01 and CB-16-02 in Tudor’s news release dated October 11, 2016. In total, eight holes were drilled on the property for a total of 3,765 meters during the 2016 field season. Assay results are pending for the last five holes.
The Treaty Creek Project is a joint venture between Tudor, American Creek and Teuton Resources Corp. (“Teuton”). Tudor is the operator and holds a 60% interest with both American Creek and Teuton each holding respective 20% fully carried interests in the property (carried until a production notice is given).
James Hutter, P.Geo., is the Qualified Person as defined by National Instrument 43-101 for the 2016 Treaty Creek Project and the results reported by Tudor.
Darren Blaney, American Creek CEO stated: “We are very excited about results from the first three 2016 holes on Treaty Creek. Collectively they’ve extended the known mineralization at Copper Belle, found a new gold zone, and extended gold intervals to depth. The first three holes are all in close proximity to the ‘discovery contact’ discussed in the 2014 Kyba/Nelson BC Geological Survey report, to the Sulphurets thrust fault, and to clastic sequencing (Turbidites) found on Treaty Creek. According to the report, these three things in combination increase the chances of ‘being in the right neighborhood of BC’s next big deposit.’ We believe the results thus far at Treaty Creek are the beginning of that discovery process.”
American Creek is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold and silver properties within the Province of British Columbia, Canada.
In addition to the Treaty Creek project, the Corporation holds interests in the following “Golden Triangle” properties:
The Electrum property is located approximately 45 km north of Stewart between Pretivm’s Brucejack gold deposit located 25 km to the north and the past producing Premier gold mine 20 km to the south. The Electrum shares similar geology to both the Brucejack and the Premier. The project is a JV between operator Tudor (60%) and American Creek (40%).
Tudor recently concluded a diamond drilling and blast trenching program. Initial trenching results reported by Tudor on Sept 12, 2016 included silver grades up to 30,200 g/t within the New Blast vein system. Further results from the drilling and trenching are pending.
American Creek recently acquired a property package which included the historic Dunwell mine (see October 3 news release). The Dunwell mine produced 45,657 tonnes averaging 6.63 g/t gold, 223.91 g/t silver, 1.83 per cent lead, 4.01 per cent zinc and 0.056 per cent copper. Recent drilling has shown potential to develop more reserves.
The 850 hectare property is located 8km north of the town of Stewart and intersects paved Highway 37A. It is adjacent to American Creek’s Silvershot property. The principal Dunwell workings are about 2km east of the highway and are accessible by 4×4 vehicle with travel to the remaining portions of the property by foot. Due to the property being located at low elevation, exploration can take place almost year-round.
Information relating to the Corporation is available on its website at www.americancreek.com.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements including, without limitation, statements relating to the potential mineralization and geological merits of the Treaty Creek property and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. 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 Company’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 Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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