Cardston - American Creek Resources Ltd. (TSXV: AMK) ('the Company') is pleased to present results of the Initial Mineral Resource Estimate for the Goldstorm and Copper Belle Zones at their flagship property, Treaty Creek.
The Property is located within the heart of the Golden Triangle of Northwestern British Columbia which is on-trend from Seabridge's KSM Project located five kilometres southwest of the Goldstorm Zone. A total of 218 drill holes totaling 105,658.8 metres were used in the Mineral Resource Estimate completed by P&E Mining Consultants Inc. (P&E). The constraining open-pit shell contains 14.15 million ounces of Measured and Indicated gold equivalent ounces ('AuEq') at an average grade of 0.72 gpt AuEq and 5.26 million Measured and Indicated AuEq ounces at an average grade of 0.80 gpt AuEq for the out-of-pit Mineral Resources. Cut-off grades of 0.30 gpt AuEq were used inside the constraining open-pit shell and a higher cut-off grade of 0.46 gpt AuEq was used for the out-of-pit Mineral Resource Estimate which includes underground constrained blocks. The Goldstorm Zone remains open in all directions and at depth. The effective date of the Mineral Resource Estimate is March 1, 2021. A Technical Report prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, will follow within 45 days of this news release and this will be posted on SEDAR and the Company's website.
Tudor Gold's Vice President of Exploration and Project Development, Ken Konkin, P.Geo., stated: 'We are very pleased with the results obtained from our Initial Mineral Resource Estimate. Only 10-12 % of the gold equivalent values are attributed to silver and copper mineralization indicating a strong gold-dominate system. However, due to the immense volume of the system, it contains large quantities of silver and copper. Further studies are required to investigate the potential economic impact of these two metals. Our preliminary metallurgical test work shows excellent gold recoveries to a gravity + flotation concentrate. From four composite tests, gold recoveries averaged 96.2% in pyrite concentrates with overall gold recoveries after concentrate extraction expected to be on the order of 88%. The mineralogical studies also demonstrated that no deleterious elements such as As, Sb or Hg were detected within the Goldstorm and Copper Belle Zones. The four tests were carried out by BV Minerals Metallurgical Division and supervised by metallurgical consultant Frank Wright, P.Eng.
Our plans for 2021 are to complete the drilling of the Goldstorm Zone; to define the limits of the 300 Horizon, the CS-600 and DS-5 Zones. In-addition, diamond drilling is planned for the Eureka and Perfect Storm Zones. We believe that the Treaty Creek Property contains excellent potential for continued discovery of gold-silver-copper systems such as Goldstorm.'
About American Creek
American Creek is a Canadian junior mineral exploration company with gold and silver properties in British Columbia, Canada.
The Company has an interest in the Treaty Creek property, a joint venture project with Tudor Gold/Walter Storm located in BC's prolific 'Golden Triangle'.
The Company also holds the Austruck-Bonanza gold property located near Kamloops.
Contact:
Kelvin Burton
Tel: 403 752-4040
Email: info@americancreek.com
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 Company expects or anticipates will or may occur in the future, including Tudor Gold's plan to file a technical report within 45 days of this news release, the plan for Tudor Gold to complete the drilling of the Goldstorm Zone and define the limits of the 300 Horizon, the CS-600 and DS-5 Zones and the plan to drill the Perfect Storm Zone and the Eureka Zone in 2021. 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 connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including among others, that Tudor Gold will file a technical report within 45 days of this news release, that Tudor Gold will complete the drilling of the Goldstorm Zone and will define the limits of the 300 Horizon, the CS-600 and DS-5 Zones and that Tudor Gold will drill the Perfect Storm Zone and the Eureka Zone on the timeline anticipated by management. Although the assumptions made by the Company 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 Company's plans or expectations include that Tudor Gold will not file a technical report within 45 days of this news release or at all, that Tudor Gold will not complete the drilling of the Goldstorm Zone and will be unable to define the limits of the 300 Horizon, the CS-600 and DDS-5 Zones and Tudor Gold will not drill the Perfect Storm Zone and the Eureka Zone on the timeline anticipated by management or at all and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Although the Company 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.
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.
AMERICAN CREEK RESOURCES LTD. 