American Creek Recognises 2019 as a Major Turning Point; Looks Forward to Major Developments in 2020
Cardston, Alberta--(Newsfile Corp. - January 7, 2020) - American Creek Resources Ltd. (TSXV: AMK) (OTC Pink: ACKRF) ("American Creek") ("the Corporation") is pleased to report that 2019 was a pivotal year for the company which is now positioned to take full advantage of the precious metals bull run that many experts believe we are only in the early stages of, even though gold hit a 7 year high of $1,580 this week. Looking back, on the first day of trading in 2019 AMK closed at $0.03 and on the last day of trading in 2019 AMK closed at $0.09 representing a significant annual increase. Management envisions positive developments to continue in 2020 through the geological advancements of its properties including the potential for a world class resource on the Treaty Creek JV project located in the "Golden Triangle" of Northwestern British Columbia.
Darren Blaney, CEO of American Creek stated: "This past year was a significant turning point for the company and will be the catalyst for more exciting developments in 2020. The company has strengthened its position both financially and strategically and is poised to benefit from not only a strengthening gold and silver market but also from the investment community becoming more aware of the company's projects and potential. The Treaty Creek project will be advancing in a major way and several of our other projects including the Dunwell and Gold Hill will also be the focus of attention this year. We very much look forward to 2020 and wish all of our shareholders the very best this upcoming year!"
Image of the Goldstorm Zone found along the base of this hill at Treaty Creek.
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Financial Position
The company raised over $3.3 million in 2019 through common and flow-through shares along with the exercise of warrants. Through these events the company was able to strengthen existing alliances and create a number of new highly strategic relationships bringing strength, credibility and future increased exposure to American Creek.
Of note, Canadian billionaire Eric Sprott made two separate investments of $1,000,000 into American Creek as well as an additional $8,400,000 investment in our JV partner Tudor Gold for the development of the Treaty Creek property. This makes Mr. Sprott the largest external investor in Treaty Creek. He recently stated that he is "very excited about the opportunity there as the project has a great shot at having 20 million ounces."
Geological Position
TREATY CREEK
The 2019 drilling at Treaty Creek was very successful and produced some of the most significant gold intercepts in the exploration industry. The focus has been on the gold enriched Goldstorm Zone which is on trend with, and part of, the same geological system as Seabridge Gold's neighboring KSM deposits. With approximately one billion tonnes of gold enriched rock identified (potential for a resource calculation in 2020), the Goldstorm has potential to become a world class gold deposit. The 2019 drilling was designed to define a gold deposit with the potential of being open pit mined. The upcoming 2020 drilling is designed to significantly expand the deposit as the system is open to the north, the east and at depth.
The Treaty Creek Project is a joint venture with Tudor Gold owning 3/5th and acting as project 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".
DUNWELL MINE
A maiden drill program was initiated in 2019 on the 100% owned Dunwell Mine project located in the heart of the Golden Triangle a few kilometers outside of Stewart, BC. This past producing high grade mine (gold, silver, lead, zinc) holds tremendous potential and may have the best logistics found in the Golden Triangle. Assays from the program are currently pending.
GOLD HILL AND OTHER PROJECTS
The Gold Hill property is believed to contain the principle source lode for Canada's fourth largest placer deposit located downstream (Wild Horse River Gold Rush) which produced over 48 tonnes gold (and is still producing). Work is planned for 2020 which will advance this highly prospective project.
American Creek also holds several other high potential projects in other prospective areas of BC such as the Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King.
Marketing
American Creek will be going to great lengths in 2020 to increase the Corporation's exposure and recognition. Near future events including attending many conferences including the Vancouver Resource Investment Conference (Vancouver), AME Roundup (Vancouver), Red Cloud (Toronto), Raise Capital (Toronto), and the Prospectors and Developers Association of Canada (PDAC) convention (Toronto).
About American Creek
American Creek is a Canadian mineral exploration company with a strong portfolio of gold and silver properties in British Columbia. Three of those properties are located in the prolific "Golden Triangle"; the Treaty Creek and Electrum joint venture projects with Tudor Gold/Walter Storm as well as the 100% owned past producing Dunwell Mine.
More information about the Treaty Creek Project can be found here: https://americancreek.com/index.php/projects/treaty-creek/home
An exploration program is ongoing on American Creek's 100% owned Dunwell Mine property located near Stewart. More information can be found here: https://americancreek.com/index.php/projects/dunwell-mine
The Corporation also holds the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King properties located in other prospective areas of the province.
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.
This news release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Actual results could differ materially because of factors discussed in the Corporation's management discussion and analysis filed with applicable Canadian securities regulators, which can be found under the Corporation's profile on www.sedar.com. The Corporation does not assume any obligation to update any forward-looking statements.
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