01:31:42 EDT Fri 03 May 2024
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American Creek Resources Ltd
Symbol AMK
Shares Issued 397,390,109
Close 2024-02-15 C$ 0.115
Market Cap C$ 45,699,863
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American Creek JV completes 31,904 m drilling at Treaty

2024-02-15 12:33 ET - News Release

Mr. Kelvin Burton reports

AMERICAN CREEK'S JV PARTNER TUDOR GOLD PROVIDES REVIEW OF ITS 2023 DRILL PROGRAM AT TREATY CREEK, GOLDEN TRIANGLE, BRITISH COLUMBIA

American Creek Resources Ltd. project operator and joint venture partner Tudor Gold Corp. has provided the following review of the 2023 drill program at the flagship property, Treaty Creek, located in the heart of the Golden Triangle of northwestern British Columbia.

The Program consisted of a total of 31,904 meters (m) drilled over 25 holes within the Goldstorm deposit (the "Goldstorm deposit") and 8 holes at the Perfectstorm Zone ("PSZ"). The primary focus of drilling within the Goldstorm area was twofold: to upgrade much of the Inferred Mineral Resources to the Indicated Mineral Resource category and to extend the boundaries of the deposit towards the north and northeast. Drilling at PSZ concentrated on expanding on the known mineralized zone by targeting both the southwestern and northeastern regions, which are approximately 1500 m apart.

Highlights of the Program include:

  • Step-out and infill drilling continued to consistently intersect strong gold, copper and silver mineralization outside the previously defined resource area of the Goldstorm deposit to depth and along the northeastern axis by 250 m to 350 m to the north and northeast;
  • Drilled a number of new high-grade intercepts within and outside the boundaries of the Goldstorm deposit. Notably, hole GS-23-179, a 200 m step-out to the northeast of the CS-600 Domain. This hole returned an intercept of 525.0 m of 1.01 g/t AuEq (0.85 g/t Au, 1.94 g/t Ag, 0.13 per cent Cu) which included a higher-grade interval of 223.5 m of 1.42 g/t AuEq (1.16 g/t Au, 2.25 g/t Ag, 0.19 per cent Cu) that included 43.5 m of 3.73 g/t AuEq (3.52 g/t Au, 2.18 g/t Ag, 0.16 per cent Cu) and 12.0 m of 10.07 g/t AuEq (9.78 g/t Au, 1.35 g/t Ag, 0.23 per cent Cu);1
  • Encountered stronger than expected copper grades within the CS-600 Domain of the Goldstorm deposit, notably hole GS-23-168-W1, which targeted the deep, northwest portion of the CS-600 Domain. The hole intersected an area classified as an Inferred Mineral Resource in the previous Mineral Resource Estimate. Prior to entering the CS-600, a mineralized section of 75.0 m of 1.34 g/t AuEq (1.27 g/t Au, 5.89 g/t Ag, 0.01 per cent Cu) was cut, and this is interpreted to be the 300H Domain, or related mineral system. A long intercept of CS-600 included 296.0 m of 1.11 g/t AuEq (0.65 g/t Au, 5.03 g/t Ag, 0.35 per cent Cu) with an enriched intercept of 102.0 m grading 1.30 g/t AuEq (0.64 g/t Au, 7.39 g/t Ag, 0.50 per cent Cu);2
  • Identified a new mineralized area named SC-1 situated in the northern sector of the Goldstorm deposit, within the CS-600. This recently identified zone boasts higher-grade gold concentrations and comprises three drill holes, with two completed towards the end of the 2023 exploration campaign. The initial drill hole, GS-22-134, yielded promising results in 2022, returned 20.86 g/t AuEq over 4.5 m within a 25.5 m section of 9.96 AuEq (9.66 g/t Au, 1.23 g/t Ag, 0.24 per cent Cu). Drill-hole GS-23-176-W1, completed in 2023 and specifically designed as an offset step-out hole returned 15.64 g/t AuEq over 15.0 m (14.89 g/t Au, 4.72 g/t Ag, 0.60 per cent Cu). Additionally, GS-23-179, a northeast step-out hole also completed in 2023 to trace SC-1 up-dip from GS-22-134 and GS-23-176-W1, returned 10.07 g/t AuEq over 12.0 m (9.78 g/t Au, 1.35 g/t Ag, 0.23 per cent Cu). Presently, the high-grade gold-bearing breccia stockwork system extends approximately 400 m down plunge and over 300 m along a northeastern axis. The exact width of the mineralized structure remains undetermined at this stage;3
  • Improved the definition and spatial continuity of the Goldstorm porphyry system which is comprised of six separate mineral domains over an area that measures approximately 2,400 m in length, 1,300 m in width and 1,500 m in depth. The Goldstorm deposit remains open to the south, north, northeast and at depth;
  • Confirmed the existence of PSZ with holes spaced over a distance of 1,500 meters. PS-23-10, the most notable drill hole from this program intersected 102.15 m of 1.28 g/t AuEq (1.23 g/t Au, 3.43 g/t Ag, 0.01 per cent Cu) including two enriched zones comprising 42.5 m of 1.87 g/t AuEq (1.80 g/t Au, 5.76 g/t Ag, 0.02 per cent Cu), and 25.5 m of 1.60 g/t AuEq (1.58 g/t Au, 1.81 g/t Ag, 0.01 per cent Cu). Further downhole a high-grade vein zone was intersected and returned 1.5 m of 24.70 g/t gold. These results are the highest gold grades seen at PSZ to date and they are located between the Goldstorm deposit, 3 km to the northeast, and Seabridge Gold's Iron-Cap Deposit, 2.5 km to the southwest.4

Results from the Program are expected to be included in the next updated Mineral Resource Estimate on the Goldstorm deposit, which is anticipated to be released in the first quarter of 2024.

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).

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 per cent, 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 per cent, 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 per cent, 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 per cent, 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 per cent 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 per cent 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.

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