American Creek's JV Partner Tudor Gold Increases Exploration Efforts with Eight Drills at Their Flagship Treaty Creek Property in BC's Golden Triangle
Cardston, Alberta--(Newsfile Corp. - May 25, 2022) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") is pleased to announce their JV partner Tudor Gold's exploration efforts have doubled for Phase l of the 2022 exploration program (the "Program") at their flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia. The fully funded Program consists of a 30,000 metre (m) diamond drilling campaign that has been developed to systematically test the extension of the Goldstorm Deposit well beyond the limits that were outlined in the 2021 Mineral Resource Estimate (American Creek press release dated March 9, 2021: reported a Measured and Indicated Mineral Resource of 19.41 million ounces of AuEq grading 0.74 g/t AuEq and an Inferred Mineral Resource of 7.9 million ounces of AuEq grading 0.79 g/t AuEq). In addition, exploration diamond drilling will focus on the Calm Before the Storm (CBS) and the Eureka zones (EZ or Eureka).
During the past two weeks, Tudor's crews have mobilized four more drill rigs to the site from the winter route via the Brucejack Access Road. Our drill contractors now have eight drill rigs working on three targets. Six drill rigs have commenced drilling the northern aspects of the Goldstorm Deposit as step-out exploration holes. One rig has been drilling at CBS as follow-up on last year's newly discovered gold-silver system, located 2.5 kilometres northeast of the Goldstorm Deposit. Additionally, crews have begun drilling the Eureka Zone located 800 meters southeast of the Goldstorm Deposit (Figure 1).
Ken Konkin, President and CEO, comments, "The start-up of 2022 exploration campaign has been a huge success. We are well ahead of schedule starting the step-out exploration drill holes in the northern aspects to the Goldstorm Deposit as well as initiating drill programs at CBS and Eureka. Additionally, we plan to complete a high-resolution aeromagnetic survey over our Treaty Creek and Crown claims with Terraquest Geophysics. A total of 1,600-line kilometres are expected to be flown during the next few days. This will serve as a vital mapping tool to aid continued exploration efforts throughout both properties. In addition to exploration, Tudor plans to construct an exploration access road that will connect our Lower Camp to our weather station area located 3.5 kilometers east of that camp. This route will eventually tie into the permitted access road that Seabridge Gold (Seabridge) is currently constructing from the Highway 37 junction at Glacier Creek. This will provide an all-weather road access to our project once completed. Seabridge has already completed the bridge construction for the Bell Irving River crossing at Glacier Creek.
"Our engagement efforts with local First Nations continue to develop. We have initiated contact with Nisga'a First Nations, and we have pledged follow-up meetings to ensure clear communication as the project evolves. Earlier in the year, Tudors' geologists and geotechicians held an informal Core Processing Workshop as an Open-Invite for the Tahltan community members in Dease Lake. It was a successful three-day session that included geotechnical procedures, QA/QC protocols as well core sampling and shipping procedures. We plan to continue to host these workshops in communities interested in gaining employment in the exploration sector. For many of those who attended, this was an excellent introduction to one small aspect of exploration. We are committed to include all First Nations including Tahltan, Skii Km Lax Ha and Nisga'a as part of our engagement process and we will continue to encourage participation with our future workshops to provide employment opportunities and public awareness to our industry sector."
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The Qualified Person for Tudor's news release for the purposes of National Instrument 43-101 is Tudor's President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for their disclosure contained in their news release.
The Qualified Person for this news release is James A. McCrea, P. Geo., for the purposes of National Instrument 43-101. While American Creek has not independently confirmed Tudor's information, Mr. McCrea 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: firstname.lastname@example.org. 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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