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American Creek Reports Gold Equivalent Results for All Drill Holes at the Treaty Creek Project Located in B.C.’s Golden Triangle

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American Creek Reports Gold Equivalent Results for All Drill Holes at the Treaty Creek Project Located in B.C.’s Golden Triangle

 

 

 

 

 

American Creek Resources Ltd. (TSX-V: AMK) is pleased to announce the results of gold-equivalent (AuEq) calculations for all drilling completed at JV partner Tudor Gold’s flagship project Treaty Creek. These calculations include credit for previously analyzed values for Cu and Ag. Geological analysis and reinterpretation of all the drill holes to date exposed a new copper horizon (CS 600 horizon) as well as significant silver and copper mineralization throughout the Goldstorm system.

 

The strongest AuEq increase was seen in the newly discovered NE Extension within the 300 Horizon. The gold-only result of 1.27 gpt Au over a 252 metre (m) interval increased to 1.51 gpt AuEq (with 13.8 gpt Ag and 504 ppm Cu), an increase of 18.9%.

 

All drill holes at Goldstorm Zone had significant increases to the composite results when the AuEq values for the copper and silver mineralization were included however when the drill holes intersected the CS-600 Horizon, the copper values within this mineralized body had the greatest impact to an individual horizon with up to 79.8% increase to the AuEq value from a gold-only 0.39 gpt Au over 150m to 0.70 gpt AuEq over the same 150m interval.

 

P&E Mining Consultants Inc. were retained to assess all Goldstorm drill hole results and historical data in order to render an opinion as to the consistency of the gold mineralization as well to ascertain the recommended drill hole spacing that would be required to potentially derive an Indicated Mineral Resource and a Measured Mineral Resource. P&E Mining Consultants Inc. concluded the following:

 

Three dimensional continuity analyses of the Treaty Creek drill hole assay results were carried out for the Goldstorm Zone. The regional geological trend was used to guide the selection of horizontal, across-strike, and dip-plane directions during variogram fan analysis. Variogram fans were generated separately for Ag, Au, Cu, Pb, and Zn uncapped composite samples in each zone.

 

All modeled semi-variograms display a very low nugget effect, and display long range continuity down the plunge of the mineralization and along the regional strike of the deposits.

 

For the Goldstorm Zone, a drill spacing of 200 m is recommended for Indicated Mineral Resources, and 100 m for Measured Mineral Resources.”

 

Tudor’s goal is to design a diamond drill hole program that will fast-track the exploration program for 2020 with the objective to begin the Mineral Resource Estimate work as soon as possible.

 

Vice President of Project Development Ken Konkin P.Geo. comments: “We are very encouraged to see that the silver and copper mineralization has made an important impact to the AuEq results from our recent drilling as well as the historical drilling. The next step is to plan the drill hole program for the 2020 exploration season. We continue to work with our Mineral Resource Estimate geologists and engineers from P&E Mining Consultants to plan the drill hole program in order to optimize the drilling and to attempt to fast-track the exploration program for this coming drill season

 

Table l provides gold equivalent composites from the 2019 drilling and all historical drilling within the Goldstorm Zone. Table ll contains the drill data including collar location, depth of drill holes as well as the dip and azimuth for all drill hole.

 

TABLE l: Au Eq COMPOSITES GOLDSTORM ZONE

 

Section HOLE ID From To Interval (m) AuEq
g/t
Au
g/t
Ag
g/t
Cu
ppm
% increase Horizon
107+00 NE CB-17-29 1.20 575.00 573.80 0.321 0.278 0.9 224 15.5% 300
107+00 NE CB-17-29 60.50 333.50 273.00 0.435 0.392 1.1 197 11.0% 300
107+00 NE CB-17-29 60.50 176.00 115.50 0.728 0.685 1.9 142 6.3% 300
107+00 NE CB-18-32 196.50 783.50 587.00 0.542 0.497 1.6 177 9.1% 300 + CS600
107+00 NE CB-18-32 196.50 316.50 120.00 1.082 1.045 1.7 106 3.5% 300
107+00 NE CB-18-34 419.00 711.50 292.50 0.499 0.461 2.4 63 8.2% 300
107+00 NE CB-18-34 831.50 897.50 66.00 0.290 0.221 1.3 361 31.2% CS600
108+00 NE CB-17-09 41.00 545.00 504.00 0.549 0.488 2.3 225 12.5% 300
108+00 NE CB-17-09 41.00 200.00 159.00 0.782 0.708 2.9 261 10.5% 300
108+00 NE CB-17-12 3.00 243.50 240.50 0.848 0.797 2.6 139 6.4% 300
108+00 NE CB-17-12 33.00 224.00 191.00 0.979 0.923 3.0 134 6.1% 300
108+00 NE CB-17-24 3.50 563.00 559.50 0.618 0.576 2.0 121 7.3% 300
108+00 NE CB-17-24 62.00 275.00 213.00 1.018 0.945 3.9 180 7.7% 300
108+00 NE CB-17-24 3.50 686.00 682.50 0.563 0.498 1.8 288 13.1% 300
108+00 NE CB-18-36 659.50 772.00 112.50 0.487 0.454 1.8 74 7.3% 300
108+00 NE CB-18-36 659.50 704.50 45.00 0.733 0.688 2.7 88 6.5% 300
108+00 NE CB-18-36 682.00 703.00 21.00 1.101 1.035 4.6 79 6.4% 300
108+00 NE CB-18-38 20.50 638.00 617.50 0.465 0.429 1.3 137 8.4% 300
108+00 NE CB-18-38 248.50 353.00 104.50 0.733 0.639 3.4 360 14.7% 300
108+00 NE CB-18-38 468.50 638.00 169.50 0.683 0.659 1.1 76 3.6% 300
108+00 NE GS-19-40 23.00 350.00 327.00 0.501 0.443 1.72 251 13.1% 300
108+00 NE GS-19-40 81.50 127.00 45.50 1.060 0.907 4.92 634 16.9% 300
108+00 NE GS-19-41 27.50 353.00 325.50 0.724 0.589 5.25 480 22.9% 300
108+00 NE GS-19-41 47.00 146.00 99.00 1.252 1.015 9.83 800 23.3% 300
109+00 NE CB-16-03 88.00 708.00 620.00 0.582 0.534 1.5 202 9.0% 300
109+00 NE CB-16-03 112.00 426.00 314.00 0.792 0.733 2.2 220 8.0% 300
109+00 NE CB-17-04 152.10 327.00 174.90 0.827 0.803 1.0 76 3.0% 300
109+00 NE CB-17-27 12.50 536.00 523.50 0.688 0.640 1.6 197 7.5% 300
109+00 NE CB-17-27 12.50 350.00 337.50 0.807 0.758 2.0 169 6.5% 300
109+00 NE CB-18-31 404.00 680.50 276.50 0.526 0.494 1.4 100 6.5% 300
109+00 NE CB-18-31 481.00 597.00 116.00 0.773 0.732 1.8 124 5.6% 300
109+00 NE CB-18-33B 599.00 623.00 24.00 0.435 0.367 5.4 22 18.5% 300
109+00 NE GS-19-43 68.00 561.50 493.50 0.608 0.566 1.36 174 7.4% 300 + CS600
109+00 NE GS-19-43 141.50 197.00 55.50 1.068 1.005 2.62 211 6.3% 300
109+00 NE GS-19-43 405.50 561.50 156.00 0.785 0.718 1.50 325 9.3% CS600
109+00 NE GS-19-44 101.00 368.00 267.00 0.867 0.807 3.30 134 7.4% 300
109+00 NE GS-19-44 125.00 275.00 150.00 1.143 1.065 4.62 151 7.3% 300
109+00 NE GS-19-45 44.00 369.50 325.50 0.765 0.719 1.91 154 6.4% 300
109+00 NE GS-19-45 62.00 278.00 216.00 0.947 0.901 2.27 122 5.1% 300
109+00 NE GS-19-45 105.00 278.00 173.00 1.054 1.000 2.63 144 5.4% 300
109+00 NE GS-19-46 34.50 628.50 594.00 0.550 0.510 1.31 165 7.8% 300 + CS600
109+00 NE GS-19-46 175.50 337.50 162.00 0.778 0.734 1.93 135 6.0% 300
109+00 NE GS-19-46 564.00 600.00 36.00 1.425 1.328 1.12 560 7.3% CS600
110+00 NE CB-17-06 182.50 589.50 407.00 0.767 0.675 3.1 369 13.6% 300
110+00 NE CB-17-06 222.00 393.50 171.50 0.914 0.814 3.7 379 12.3% 300
110+00 NE CB-17-07 99.50 530.00 430.50 0.697 0.625 2.4 293 11.5% 300
110+00 NE CB-17-07 162.50 309.50 147.00 1.155 1.028 4.9 457 12.4% 300
110+00 NE CB-18-37B 125.00 819.50 694.50 0.502 0.459 1.2 196 9.4% 300
110+00 NE CB-18-37B 300.50 423.50 123.00 1.002 0.944 2.0 234 6.1% 300
110+00 NE CB-18-37B 125.00 912.00 787.00 0.473 0.427 1.2 212 10.8% 300 + CS600
110+00 NE GS-19-50 148.00 725.50 577.50 0.681 0.602 1.99 372 13.1% 300 + CS600
110+00 NE GS-19-50 160.00 427.00 267.00 0.878 0.811 2.67 300 8.3% 300
110+00 NE GS-19-50 652.00 736.00 84.00 0.816 0.571 2.53 1444 42.9% CS600
110+00 NE GS-19-51 119.00 365.00 246.00 0.777 0.722 2.31 187 7.6% 300
110+00 NE GS-19-51 578.00 618.50 40.50 1.304 1.019 2.94 1693 28.0% CS600
110+00 NE GS-19-53 108.00 255.00 147.00 1.036 0.984 3.07 98 5.3% 300
111+00 NE CB-18-39 141.50 705.30 563.80 1.086 0.981 4.4 352 10.7% 300
111+00 NE CB-18-39 141.50 422.00 280.50 1.274 1.141 5.5 449 11.7% 300
111+00 NE CB-18-39 539.00 695.00 156.00 1.247 1.154 4.6 257 8.1% 300
111+00 NE GS-19-48 97.50 1024.50 927.00 0.793 0.677 3.00 543 17.1% 300 + CS600
111+00 NE GS-19-48 97.50 426.00 328.50 1.152 1.048 4.30 354 9.9% 300
111+00 NE GS-19-48 871.50 940.50 69.00 1.483 0.937 3.90 3364 58.3% CS600
111+00 NE GS-19-49 81.00 907.50 826.50 0.800 0.696 3.40 429 14.9% 300 + CS600
111+00 NE GS-19-49 81.00 330.00 249.00 1.080 0.998 5.10 137 8.2% 300
111+00 NE GS-19-49 483.00 606.00 123.00 1.042 0.941 1.80 538 10.7% 300
111+00 NE GS-19-49 747.00 832.50 85.50 1.494 1.067 10.50 2035 40.0% CS600
111+00 NE GS-19-52 62.00 663.50 601.50 0.783 0.668 3.25 513 17.2% 300 + CS600
111+00 NE GS-19-52 62.00 398.00 336.00 1.062 1.004 2.65 182 5.8% 300
111+00 NE GS-19-52 513.50 663.50 150.00 0.703 0.391 6.49 1583 79.8% CS600
112+50 NE GS-19-42 63.50 843.50 780.00 0.849 0.683 5.80 650 24.3% 300 + CS600
112+50 NE GS-19-42 63.50 434.00 370.50 1.275 1.097 10.00 393 16.2% 300
112+50 NE GS-19-42 63.50 315.50 252.00 1.508 1.268 13.80 504 18.9% 300
112+50 NE GS-19-42 717.70 843.50 125.80 0.902 0.522 3.80 2253 72.8% CS600
114+00 NE GS-19-47 117.50 1199.00 1081.50 0.697 0.589 3.40 450 18.3% 300 + CS600 + DS
114+00 NE GS-19-47 200.00 501.50 301.50 0.867 0.828 2.10 96 4.7% 300
114+00 NE GS-19-47 665.00 816.50 151.50 1.009 0.572 8.90 2228 76.4% CS600
114+00 NE GS-19-47 933.50 1176.50 243.00 0.996 0.908 4.80 207 9.7% DS

 

 

* All assay grades are uncut and intervals reflect drilled intercept lengths. 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.

 

HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals.

 

**Metal prices used to calculate the AuEq metal content are: Gold $1322/oz, Ag: $15.91/oz, Cu: $2.86/lb. All metals are reported in USD and calculations do not consider metal recoveries

TABLE ll: Goldstorm Zone Drill Hole Data

The goal is to design a diamond drill hole program for the 2020 exploration program with the objective to begin the Mineral Resource Estimate work at the end of the 2020 field season. Tudor hopes to accomplish as much drilling needed to bring a Measured and Indicated Mineral Resource Estimate forward as quickly as possible.

 

Walter Storm, President and CEO, stated: “These new gold equivalents are extremely encouraging as our technical team continues to take positive steps advancing Tudor Gold’s flagship Treaty Creek Au-Ag-Cu project. Furthermore we received good news from P&E Mining Consultants Inc. that the drill hole spacing required to derive a Measured Resource is 100 meters due to the homogenous nature of the AuEq composites obtained to-date. During the new few weeks, our geologist and engineers will continue to work with the geological model and begin to prepare the diamond drill hole proposal for 2020.”

 

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. 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”.

 

QA/QC

 

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.

 

Qualified Person

 

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.

 

About American Creek

 

American Creek holds a strong portfolio of gold and silver properties in British Columbia. The portfolio includes three gold/silver properties in the heart of the Golden Triangle; the Treaty Creek and Electrum joint ventures with Walter Storm/Tudor, as well as the recently acquired 100% owned past producing Dunwell Mine. Other properties held throughout BC include the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King.

 

Posted March 4, 2020

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