American Creek Announces Expansion of Drilling on the Goldstorm Deposit with Four Drill Rigs at Treaty Creek in BC's Golden Triangle
Cardston, Alberta--(Newsfile Corp. - June 8, 2021) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") is pleased that their JV partner, Tudor Gold, has announced that two additional drill rigs have arrived at Treaty Creek (the "Project"), located in the heart of the Golden Triangle, Northwestern British Columbia. Diamond drilling continues with four rigs on the Goldstorm Deposit, which is on-trend from Seabridge Gold's KSM Project, located five kilometres to the southwest. Excellent progress has been made during the first two weeks of drilling on the fully funded 30,000 metre, Phase l exploration program (the "Program"). This deposit delineation and property exploration program will utilize up to six drills.
Sulphurets Hydrothermal System
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Tudor Gold's Vice President of Exploration and Project Development, Ken Konkin, P.Geo., states: "Despite higher than normal snowpack levels, crews have rapidly advanced the excavation of snow to expose drill sites allowing four diamond drill rigs to begin operations. We plan to prepare pad sites at other targets such as Perfect Storm (PSZ) and Eureka this month and will bring in two additional diamond drill rigs.
We are excited about drilling these promising new targets, however, the priority of our exploration program is to define the limits of the Goldstorm Deposit, as it currently remains open to expansion in all directions and at depth. In addition to potentially adding new gold equivalent (AuEq) ounces to the resource we will attempt to convert as much of the 7.9 million AuEq ounces of Inferred Resources to the Measured and Indicated Resource categories that currently total 19.41 million AuEq ounces. Concurrent with the drilling program, environmental base-line studies continue, including our water-sampling programs and installation of a weather monitoring station near our lower exploration camp.
Tudor Gold Corp. and our associated service companies have taken extreme measures to maintain the highest professional standards while working within COVID-19 health and safety protocols. Only essential personnel are permitted to enter the camp and staging areas. Of those workers who are at the project site and staging site, we have strict daily monitoring of the workers temperatures and general health conditions. We have a certified paramedic at the staging area to examine all in-coming and out-going Tudor personnel and all service providers."
Walter Storm, President and CEO, stated: "I am very pleased with the safe start-up of the 2021 exploration program at our flagship Treaty Creek Project thanks to the hard work and perseverance of our crew members. We look forward to increasing the pace and performance of this year's Program by expanding the number of drilling rigs at the Treaty Creek property. This start will help us complete the required drilling necessary to potentially expand and update the current resource estimate. The goal is to complete an updated Resource Estimate for the Goldstorm Deposit in 2022. We feel confident this will allow us to advance the Project with a Preliminary Economic Assessment study planned for 2022."
Darren Blaney, American Creek Resources CEO, stated: "We were very excited to see drilling resume at Treaty Creek a couple of weeks ago and now the addition of two more drills this early in the season. For the last two years, Ken Konkin has consistently met or exceeded Tudor's goals and objectives and this year is proving to be no exception. The plans to significantly advance Treaty Creek in 2021 (see details in Tudor's Corporate Presentation) are right on schedule and we have every confidence in Tudor's ability to do so."
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold's Vice President 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.
Treaty Creek JV Partnership
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 creating a 3:1 ownership relationship between Tudor Gold and American Creek. 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".
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/Walter Storm 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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