Cardston, Alberta--(Newsfile Corp. - February 2, 2024) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation" or "American Creek") is pleased to announce that project operator and JV partner Tudor Gold ("Tudor") has provided an update on the recent identification of a high-grade gold system within the Goldstorm Deposit and a brief overview of the successful expansion of the Goldstorm Domains from the 2023 drill program (the "Program") at the flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia.
Ken Konkin, Tudor Gold President and CEO, commented: "We are extremely pleased to announce that we have delineated a high-grade gold system associated with a quartz-dominant veinlet and stringer stockwork system, named Supercell One (SC-1). This represents a significant economic target within the CS-600 domain. Our current Mineral Resource Estimate (MRE) caps gold equivalent (AuEQ) grades at 8.0 g/t AuEQ and therefore does not include these higher grades. Our current concept is that the SC-1 system, like the higher-grade R-66 domain, may represent a late-stage gold-dominant event that, in part, over prints the primary mineralization of the Goldstorm Deposit. This is significant, as these smaller, higher-grade systems have the potential to streamline start-up plans, allowing for rapid extraction of gold with the possibility of substantially lower capital expenditures compared to a much larger conceptual bulk tonnage operation.
"Additionally, our technical team has completed the geologic modelling and domain delineation with the incorporation of the 2023 drilling data. Updated mineral domains show significant expansion of the Goldstorm Deposit in several areas. (plan maps and cross sections of the SC-1 and the expanded domains). These maps indicate how the drilling conducted in 2023 has the potential to convert several areas of the deposit from Inferred Mineral Resources to Indicated Mineral Resources. Despite the aggressive exploration and expansion of the Goldstorm Deposit, it remains open in all directions and at depth. The Company is currently in the process of updating the MRE for the Goldstorm Deposit and is expected to release the updated MRE within Q1 of 2024."
Supercell One (SC-1) Characteristics and Intercepts
Minor pyrite and chalcopyrite are observed with fine-grained visible native gold within the newly crowned SC-1 system, which is contained within the CS-600 Domain. Three drill holes are interpreted to have intersected this structural corridor that contains significant quartz-sulphide breccia. Two of the three holes were completed late during the 2023 exploration campaign while the discovery hole, GS-22-134 (20.86 g/t AuEQ over 4.5 m within a 25.5 m zone of 9.96 AuEQ), was completed during the 2022 drilling campaign. Drill hole GS-23-176-W1 (15.64 g/t AuEQ over 15.0 m) was designed as an offset step-out hole to the impressive gold intercept obtained within GS-22-134. With the third drill hole, GS-23-179 (10.07 g/t AuEQ over 12.0 m), a northeast step-out, our technical crews were able to validate the SC-1 system, tracing SC-1 up-dip from GS-22-134 and GS-23-176-W1. To date, the high-grade gold-bearing, breccia stockwork system measures approximately 400 m down plunge and over 300 m along a northeastern axis. The true width of the mineralized structure is currently unknown.
Drill-hole highlights from SC-1 include the following intercepts:
- GS-22-134: 25.5 m of 9.96 g/t AuEQ (9.66 g/t Au, 1.23 g/t Ag, 0.24 % Cu)
- GS-23-176-W1: 15.0 m of 15.64 g/t AuEQ (14.89 g/t Au, 4.72 g/t Ag, 0.60 % Cu)
- GS-23-179: 12.0 m of 10.07 g/t AuEQ (9.78 g/t Au, 1.35 g/t Ag, 0.23 % Cu)
Darren Blaney, American Creek President and CEO, states: "The newly identified Supercell One zone has the potential to become a significant factor given it has around ten times the average grade of the Goldstorm. It already stretches over hundreds of meters and we're eager to see how far beyond it extends. Considerable expansion has taken place on the Goldstorm deposit and based on the exceptional drill results from the 2023 program, we're confident that overall grade is improving as well. We're looking forward to the updated Mineral Resource Estimate that Tudor is working toward (Q1, 2024) as well as the 2024 drill program."
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 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.
QA/QC
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 Tudor Gold.
About Treaty Creek
The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the "NI-43-101 Technical Report for the Treaty Creek Project", dated April 28, 2023 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 23.37 Moz of AuEq grading 1.13 g/t AuEq (18.75 Moz gold grading 0.91 g/t, 2.18 Blbs copper grading 0.15 %, 112.4 Moz silver grading 5.45 g/t) and an Inferred Mineral Resource of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz gold grading 0.74 g/t, 0.85 Blb copper grading 0.16 %, 45.08 Moz silver grading 5.99 g/t), with a pit constrained cut-off of 0.5 g/t AuEq and an underground cut-off of 0.7 g/t AuEq. The Goldstorm Deposit has been categorized into three dominant mineral Domains and several smaller mineral Domains. The CS-600 Domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70 g/t, 1.98 Blbs copper grading 0.32 %, 51.1 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 3.71 Moz AuEq grading 1.19 g/t AuEq (2.32 Moz gold grading 0.75 g/t, 0.76 Blb copper grading 0.36 %, 18.71 Moz silver grading 6.01 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.
1 AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
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 hold fully carried 20% interests, which means no development costs are incurred by these companies until a production notice is issued. This gives shareholders a unique opportunity, to avoid the dilutive effects of exploration while maintaining their full 20% exposure to one of the world's most exciting mega deposits.
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: info@americancreek.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.
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