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AGORACOM Small Cap 60: Affinity Metals $ Drilling Carscallen Extension Adjoining Melkior/Kirkland Lake Gold JV $ $ $ $ $

Posted by AGORACOM-Eric at 12:25 PM on Wednesday, April 14th, 2021

American Creek $ Coverage from The Fundamental Research Corp & Stansberry $ $ $

Posted by AGORACOM-Eric at 9:15 AM on Monday, April 12th, 2021
American Creek Provides Update on Its First Quarter Filings
  • Fundamental Research Corp is one of the largest independent research houses in the world, with a 17-year track record of covering 550+ companies.
  • As of April 05, 2021, FRC’s top picks were up 69.3% on average since initiation of coverage. Last week they initiated coverage on our JV Partner Tudor Gold / Treaty Creek
  • The comprehensive report on TUD and Treaty Creek can be accessed on their website by subscribing to their free membership.
Click Here to Access Report: Stansberry Gold and Silver Investor

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Affinity Metals $ Reports Initial Results from Carscallen Extension Maiden Drill Program $ $ $ $ $

Posted by AGORACOM-Eric at 9:18 AM on Monday, April 5th, 2021

Affinity Metals Corp. (TSXV: AFF) (FSE: 34IA) (“the Corporation”) (“Affinity”) is pleased to announce that results from the initial three diamond drill holes have confirmed the presence of gold mineralization within the first target area on the Carscallen Extension project located immediately adjacent to the Kirkland Lake – Melkior Carscallen Joint Venture.

The three drill holes in this initial phase of exploration work were drilled within the Deloro geological assemblage and were located to test an airborne acoustical EM target at depth. Carx-20-01 was collared at UTM coordinate 450544.7 m E, 5360519 m N (Zone 17), and was drilled with a dip of 86 degrees at an azimuth of 348 degrees. This drill hole was successful in intersecting gold mineralization within a cherty banded iron formation that returned 0.21 g/t over 2 m from 429 m to 531 m. A second intersection further down the hole in a sheared metavolcanic breccia with quartz-carbonate veining and pyrite/chalcopyrite mineralization returned 0.21 g/t gold over 6 m from 535 m to 541 m. Carx-20-02 collared at 450596 m E, 5360519 m N and Carx-20-03 collared at 45068.8 m E, 5360525.6 m N also intersected numerous zones of sheared metavolcanics containing mineralized quartz calcite veining that also returned anomalous values for gold.

Drill core was logged and intervals selected for sampling were split using a diamond saw. Half core samples were submitted to Northern Mining Analytical Laboratory of Timmins, Ontario (“NMAL”) for gold analysis using fire assay with atomic absorption finish. NMAL is certified by the Standards Council of Canada to ISO/IEC standard 17025:2017. Internal laboratory QA/QC was carried by insertion of certified reference materials (blanks, standards and duplicates) into the sample stream.

The Corporation is encouraged with the initial results from this program in that gold mineralization encountered in holes Carx-20-01 to 03 is similar to gold mineralization reported in the banded iron formations and sheared metavolcanic breccia with quartz calcite veining observed at the Wire Gold occurrence on the neighbouring Kirkland Lake – Melkior Carscallen JV Project.

Initial exploration plans identified several prospective targets on various locations on the property. This initial drilling was designed to test one of the anomalies with the most cost effective logistics that would test the correlation of potential mineralization with the acoustical EM geophysics model. The property hosts multiple targets that warrant further exploration given the initial apparent confirmation of the exploration model.

Affinity CEO, Rob Edwards, stated, “Affinity is fortunate to be in the Timmins Exploration Camp; the prolific area hosts some very successful projects and companies as neighbors. We are encouraged by the initial drill results on the Carscallen Extension Project and are looking forward to using the information we have assembled with this first phase of exploration to further our success in this area. Now that we seem to have initial confirmation of the model, the targets that require a little more work logistically will warrant further exploration. We will be working with our geophysics and geology teams to synthesize the initial models with detailed core logging and drill results to better confirm targets for further exploration. With the information now available, our team can move forward with a higher degree of certainty that their combined knowledge and technology have the potential to identify anomalous systems hosting large scale mineralization.”

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Durango $ $ATOXF Reports Consolidation Near its Discovery Property in Frotet Evans Greenstone Belt $ $ $

Posted by AGORACOM-Eric at 9:54 AM on Thursday, April 1st, 2021

Durango Resources Inc. (TSXV:DGO) (Frankfurt-86A1) (OTC:ATOXF), (the “Company” or “Durango”) reports that Troilus Gold Corp. (“Troilus”) (TSX-TLG) announced on March 23, 2021 that it entered into a definitive agreement with UrbanGold Minerals Inc. (“UrbanGold”) (TSXV-UGM) to acquire all the issued and outstanding common shares of UrbanGold, for approximately $19M.

If the consolidation completes, the Troilus land holdings will be over 142,000 hectares and magnify its position as the largest mineral claim holder in the region. Durango’s Discovery (Découverte) Property is located on strike to the southwest of the past producing Troilus mine and neighbours UrbanGold. The Discovery Property is 6,700ha in size and covers an important geological NE-SW regional structure. The Property has great road access and it is located a few kilometers from the Route du Nord.

Durango’s technical team is in the process of preparing an exploration program for the Discovery Property in June 2021, after it completes its exploration program at Windfall Lake and will announce the plans in more detail as they become available.

Durango CEO, Marcy Kiesman, stated, “Durango is situated on strike with the Troilus Gold mine and will become a direct neighbour of Troilus Gold upon completion of the proposed transaction. This consolidation of the region is positive for Durango and for the exploration and growth of all of the assets in the area.”

The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101. The Discovery Property has not yet been subject to an NI-43-101 report.

Discovery (Découverte), Québec

Durango owns 100% interest in the Discovery claims, which are adjacent Osisko Mining Inc. (TSX-OSK) and are 60km away from Troilus Gold Inc.’s past producing mine. The claims are located 100km away from Chibougamau, Québec in the Frotet Evans greenstone belt with year-round road access from the Route Nord. The 6,700-hectare property is compelling due to the structurally important south dipping synclinal fold nose deformed by a northwest fault zone and northeast structures.

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Loncor $ $LONCF Deepest Hole Drilled at Adumbi Deposit Intersects Significant Widths and Grades in Multiple Gold Zones $ABX $NGT $GOLD $TECK

Posted by AGORACOM-Eric at 9:37 AM on Thursday, March 25th, 2021
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  • Results include 32.15 metres grading 6.17 g/t gold (including 1.46 metres grading 94.77 g/t gold) and 15.36 metres grading 3.73 g/t gold (including 5.89 metres grading 6.56 g/t gold)

Loncor Resources Inc. (“Loncor” or the “Company”) (TSX: “LN”; OTCQX: “LONCF”; FSE: “LO51”) is pleased to announce further significant assay results from its drilling program within its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. The deepest borehole drilled to date at its flagship Adumbi deposit, LADD009 intersected 32.15 metres grading 6.17 grammes per tonne (g/t) gold (including 1.46 metres grading 94.77 g/t Au), 15.36 metres grading 3.73 g/t gold (including 5.89 metres grading 6.56 g/t Au), 5.00 metres grading 3.17 g/t gold and 7.45 metres grading 1.48 g/t gold.

Mineralized sections for borehole LADD009 are summarised in the table below:

Borehole NumberFrom (m)To (m)Intersected
Width (m)
Grade (g/t) Au

Borehole LADD009 had an inclination of minus 75 degrees and azimuth of 218 degrees at the start of hole and regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole. All core was orientated, and it is estimated that the true widths of the mineralised sections are approximately 82% of the intersected width. All intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width. Borehole LADD009 intersected the mineralization at a depth of approximately 140 metres below the open pit shell (see Figures 2 and 3 below). Boreholes LADD012 and LADD013 are currently being drilled (LADD011 was abandoned before reaching target depth due to mechanical problems and LADD013 is being drilled in its place).

Commenting on these latest drilling results, Loncor President Peter Cowley said: “Borehole LADD009 is the deepest hole drilled to date at Adumbi as well as the highest value in terms of the product of grade multiplied by true width for the multiple intersections (see Figure 2). These excellent results combined with previous results from the ongoing drilling program indicate that gold grades are increasing with depth. We continue to be excited by the results at Adumbi. The holes from our current drilling program have intersected significant widths and grades and will increase the current open pittable, inferred mineral resource of 2.19 million ounces (28.97 million tonnes grading 2.35 g/t gold) at the Adumbi deposit. Studies are underway to quantify this increase.”

The gold mineralization at Adumbi is associated with a thick package (up to 130 metres) of interbedded banded ironstone and quartz carbonate and chlorite schist with higher grade sections being found in a strongly altered siliceous unit termed “Replaced Rock” (RP) where structural deformation and alteration has completely destroyed the primary host lithological fabric. Disseminated sulphide assemblages include pyrite, pyrrhotite and arsenopyrite which can attain up to 20% of the total rock in places.

The objective of the current drilling program at Adumbi is to outline additional mineral resources to the current inferred mineral resource of 2.5 million ounces of gold on Loncor’s 84.68%-owned Imbo Project which contains the Adumbi, Kitenge and Manzako deposits (inferred mineral resources of 30.65 million tonnes grading 2.54 g/t Au).

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American Creek $ The Best is Yet To Come – The Goldstorm Maiden Resource $ $ $

Posted by AGORACOM-Eric at 10:53 AM on Monday, March 22nd, 2021
– One of the largest gold discoveries in decades
– Open in all directions and at depth
– Exploration to increase in 2021
– Tudor is discovering gold at 1/50th the industry average*
– Cost of discovery for AMK is $0 / Ounce
– And yet…

The Best Is Yet To Come!
American Creek Resources (TSX-V: AMK) 
Tudor Gold (TSX-V: TUD)

American Creek’s JV partner and operator at Treaty Creek, Tudor Gold, just announced a 27 million ounce gold equivalent resource* for the Goldstorm zone. This brings Goldstorm into a World Class category and while a discovery of this magnitude is very rare, Tudor’s VP of Exploration Ken Konkin says he’s just getting started.  In the interview he states:

  “This is the first page of a great book…I’m very excited about what we may find this year…I’m very optimistic.”

Every American Creek shareholder (and their friends and family) should watch Ken Konkin’s interview. Ken’s discussion highlights the true blue sky potential that Treaty Creek has.  Who else in the world has ever said:
  “You give me $30M and I’ll give you 30M ounces” [of gold M&I]

In the interview Ken lays out his priorities for the 2021 Drill Program.  Priority #1 is to find the extent of the Goldstorm with big step outs then infill and convert as much of the Inferred resource into Measured and Indicated (M&I).  Priority #2 is to expand exploratory drilling on the PS2 and Eureka zones.

  “See if we can find another 15, 20, 25 million ounce deposit”

2021 at Treaty Creek is going to have more drills, more meters of drilling, convert Inferred resources to Measured & Indicated resources, expand the Goldstorm, develop the Perfect Storm zone, test the Eureka zone, and more.  After watching this interview you’ll realize why…
  The Best Is Yet To Come!

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Affinity Metals $ Provides Exploration Update $ $ $ $ $

Posted by AGORACOM-Eric at 9:12 AM on Friday, March 19th, 2021

Affinity Metals Corp. (TSX-V:AFF) (FRANKFURT: 34IA) (“the Company” or “Affinity”) is pleased to provide shareholders with an update of the Company’s ongoing exploration initiatives and general corporate activities.
The Company is currently awaiting assay results related to diamond drill programs in 2020 and 2021.  Assay wait times have been significantly longer this year due to COVID 19 and increased exploration activities across Canada.  Assay results from the Regal Property drill program and the Carscallen Extension Project are pending and the Company expects to receive them soon.  Upon receipt of the assay results, the Company’s geological team will compile, verify and interpret the information as soon as possible for public release. 
Specific property updates are as follows:
Regal Property:
The Regal Property is located near Revelstoke, British Columbia within the northern end of the prolific Kootenay Arc and is south east and on trend with Rokmaster Resources’ Revel Ridge project.   A total of 3,442 meters over 19 holes of diamond drilling was completed on Oct. 29, 2020 and core was delivered to the lab shortly after the program was completed.  Assays results are pending and are expected to be received very soon.  A follow up diamond drill program is being planned and assay results will be utilized to guide additional exploration for the upcoming exploration season.
Carscallen Extension Property:
The Carscallen Extension Property is located near Timmons, Ontario and immediately adjoins the Carscallen Project currently being explored under a joint venture agreement between Kirkland Lake Gold Ltd. and Melkior Resources Inc.  An initial drill program commenced on Nov. 19, 2020 designed to test a large zone identified by aerial acoustic geophysics on trend with the projected extension of the Shenkman-ZamZam gold system which has been the focus of the Melkior/Kirkland Lake Gold JV.  Melkior has reported that the Shenkman-ZamZam zone extends for 800 meters and is open to both the northwest and southeast, as well as at depth. High grade intercepts reported by Melkior on the Carscallen include 23.5 g/t Au over 8.0 meters (Melkior news release 28/11/2019) and 25.7 g/t Au over 6.0 meters (Melkior news release 7/5/2020).  To date, three diamond drill holes have been completed totalling 1,850 meters. Initial test samples were sent to the lab while detailed logging of the core was ongoing. Further samples were identified during core logging and have also been sent for assay.  Results are pending.
Windfall North Property:
Affinity Metals holds a 100% owned mineral property in Quebec, Canada that adjoins Osisko’s world class Windfall Lake project claim holdings. The property resides on the Eastern portion of the prolific Abitibi Greenstone Belt.  
Affinity staked the North Windfall claims based on the interpreted northeast trend of the Windfall Lake Fault from the Windfall Lake gold deposit and plans to conduct geological and geophysical data compilation in order to generate drill targets in anticipation of a diamond drill program in 2021.
Rob Edwards, CEO of Affinity Metals, remarks, “As we look into 2021 we are very excited to establish plans for further advancement of our key properties. Unfortunately, assay  labs have been plagued with delays as Covid-19 and the volume of exploration has caused a drastic increase in turnaround times from what the industry is accustomed to. The delays of setting a waypoint for 2021 exploration programs will hopefully be short lived as we expect results from the 2020 exploration programs soon.
Additionally,  Affinity has good neighbors with good geology surrounding its key exploration properties.   Recent developments on these properties bordering Affinity’s properties seem likely to continue to provide added exposure and value to the Company and its shareholders.  Specifically, on the Regal Property in BC, Rokmaster Resources has expanded its 2021 Drill Program to 10,000 meters after positive results. The Kirkland Lake/Melkior joint venture in Ontario on the Carscallen Project has been expanded to 6,600 meters of diamond drilling and in Quebec, Osisko Mining continues to prove up their Windfall Project with some extremely encouraging drill results. Affinity and its investors have so much to look forward to in 2021.”

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American Creek $ 27.3M Oz Gold Equivalent Discovery in BC’s Golden Triangle.. And They’re Just Scratching The Surface $ $ $

Posted by AGORACOM-Eric at 12:57 PM on Thursday, March 11th, 2021
American Creek Provides Update on Its First Quarter Filings

B.C.’s prolific Golden Triangle is often referred to as “Elephant Country” given the intensity of mineral showings and deposits located there and because of the sheer scale of many of those deposits in this politically mining friendly jurisdiction.  In this case a combination of the two may have been discovered as Treaty Creek has potential for multiple district-scale deposits on the same property.

The first mineralized zone at Treaty Creek to have a maiden resource is the Goldstorm.  As explained in the March 9th press release it contains 19.4 million ounces at 0.74 g/t gold equivalent Measured and Indicated and 7.9 million ounces at 0.79 g/t gold equivalent Inferred.  This makes it one of the largest gold deposits discovered in the last decade.

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The Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% (3/5th) and acting as operator. American Creek has a 20% (1/5th) interest in the project creating a 3:1 ownership relationship between Tudor Gold and American Creek.  American Creek is 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 American Creek has a “free ride”.

A critical factor of metal deposits isn’t just the size, but it’s shape, consistency, and depth.  Fortunately, the richest mineralization at Goldstorm is located in the close to surface “300 Zone.” The deposit is contiguous and is remarkably consistent as well.  These factors create the potential for Goldstorm to be an open pit operation which is the least expensive route for both capital expenditures and operational expenditures, with the advantage of being able to mine the highest grade first.

FIGURE 1 (View looking NNE): Image of the 3D Constraining Pit Shell showing the 300 Horizon (Purple), CS-600 Zone (Red) DS-5 Zone (Orange) and Copper Belle (Blue).
The maiden or initial resource calculation is exactly that: initial.  The Goldstorm Zone remarkably remains open in all directions and at depth.  As Tudor Gold’s VP of Exploration, Ken Konkin has stated: “This is just the first chapter of a very good book”.  The edges or boundaries of the deposit are currently unknown with geophysical signatures indicating potential for significant expansion. Konkin, who was a key player in the development of the Brucejack Mine (Pretium Resources) just a few kilometers south of Treaty Creek, is an expert in both large-scale systems and geology in the Golden Triangle.  He has often spoken of the importance of the “frequency for occurrence”, “frequency of distribution”, and “structural traps” characteristic of world class hydrothermal systems that create a predictable “rhythm”.
He’s stated that the Sulphurets Hydrothermal System, which includes Pretium (Brucejack mine), Seabridge (KSM deposits), and Treaty Creek, is a perfect example of this rhythm and refers to its many deposits as a “string of pearls……just really big pearls!”  The potentially massive deposits on Treaty, including the Goldstorm and the Perfect Storm Zone, are located exactly where they should be within this system.  Seabridge’s KSM deposits (Kerr, Sulphurets, Mitchell, Iron Cap) comprise the largest undeveloped gold deposit(s) in the world containing P&P reserves of 38 million ounces gold and 10.2 billion pounds of copper.  Each deposit is approximately 2.5 – 3km apart and this “rhythm” continues northward through Treaty Creek with the Perfect Storm, the Goldstorm, and potential Goldstorm 2 zones. The yet to be drilled Perfect Storm zone has the same type of structural, geological, and geophysical characteristics as the other major deposits in the “string of pearls”.  Along with expanding the Goldstorm, drilling the Perfect Storm will be one of the focuses for Tudor in 2021. On July 24, 2020 billionaire metals investor Eric Sprott stated (referring to the Goldstorm):
It certainly looks like they have 20 million ounces and they could easily get to 30 or 40 or 50 million ounces (of gold)
It looks like Eric’s prediction is remarkably accurate so far.  With expansion of the Goldstorm and planned upcoming drilling of both the Perfect Storm and Eureka, the Treaty Creek project is primed to have a break-out year in the gold space. Treaty Creek is just 20km down a valley to a paved highway and high-transmission power lines with some of the cheapest power in the world. This is critical as power accounts for approximately 25% of mining costs.  From there it’s only a 90-minute drive to bulk tonnage shipping ports in Stewart, BC.  The project has excellent gold recoveries, water, a mining friendly government, and supportive First Nations in the area. What grade does it take to make a mine?  That depends on a lot of factors, but critical ones include cheap power, proximity to roads and shipping ports, good recoveries, ample water, and close-to-surface deposits that can be open pit mined.  Fortunately, Treaty Creek appears to have these characteristics.  The in situ (in ground) grade is often lower than the head grade as initial beneficiation can concentrate the ore prior to processing.  Canada’s newest gold mine, the Eagle mine (Victoria Gold) located in northern Yukon, produces with 0.65 g/t AuEq grade.  Fort Knox (Kinross Gold) in Alaska produces at 0.4 g/t AuEq.  Many mines in northern BC owned by companies like Centerra gold and Imperial Metals operate mines averaging well under 1g/t AuEq. Tudor Gold appears to be doing an exceptional job at adding shareholder value when considering how much gold has already been proven up given the exploration expenditures to date.  Since their inception in 2016 it looks like they’ve raised close to $40M and they’ve discovered over 27 million ounces of gold!  That’s less than $1.5/Oz gold CAD.  Simply Amazing.  That number would go down when we only consider exploration dollars at Treaty Creek. Because of the fully carried nature of American Creek’s 20% interest, it actually costs American Creek $0 / ounce regardless of how many ounces are potentially discovered.  The American Creek shareholders are in the enviable position of seeing their stock value rise as Treaty Creek continues to be explored and developed without experiencing further dilution associated with that development.  Currently American Creek shares are undervalued when considering the present market valuation of the Treaty Creek project. The global gold market and gold miners have a dilemma. Gold ounces in the ground are being mined faster than new ounces are being replenished, especially when it comes to new discoveries and large discoveries.  Gold production is declining, and the mine life of new projects is getting shorter with smaller deposits being developed.  This is increasing demand for the best projects and in particular, large projects, at a time when gold producers are making more money than at any time in their history.

Pierre Lassonde, the Canadian billionaire who is the past president of Newmont Goldcorp, has sat on the World Gold Council, and is Chair Emeritus of Franco Nevada ($23 billion) summed up the opportunity applicable to the Treaty Creek project quite nicely in two recent interviews.  Back in the fall of 2020 he stated:

“Obviously, we’re going to see M&A in the space, and I think the way were going to see it is going to sort of be like three tiers.  That is, if you have a project that has 1 to 3-million-ounce reserve capability, you’ll get offers at par.  If you have 3 to 5-million-ounce of reserve capability, you’ll get a premium.  Any project that is from 5 to 10 to 15-million-ounces, there will be bidding wars for those.”

On March 8th, 2021 Mr Lassonde was asked:

“If you were to think like an investor now, what would you do to convince some of these smaller companies to enhance shareholder value?  What could the junior mining industry as a whole do right now that could be more attractive for investors at this time?”

His response:

“You know, the fundamental thing about junior mining is at the end of the day 90% of the value in our business is created by the drill bit.  So, you’ve got to look at your finding costs per ounce, and if these companies are not able to find gold for like $20, $30, $40 an ounce (they) should not be in this business.  What I look at as an investor, the bottom line is what’s your cost of finding an ounce of gold?  That’s your common denominator.  That’s where you find the value for shareholders.”

Gold is being discovered at Treaty Creek for less than $1.50 CAD ($1.18 USD) / Oz opposed to $20-$40/Oz, and they’ve only begun scratching the surface from a geological point of view.  American Creek shareholders are enjoying a $0/Oz rate.  As Mr. Lassonde stated, “(this) is where you find the value for shareholders”.  This truly is Elephant country and as Mr. Konkin put it “This is just the first chapter of a very good book”.  Based on the first chapter, this appears to be a book well worth reading.

Copyright © 2021 American Creek, All rights reserved.

Durango $ $ATOXF Discovers Native Silver in Drill Core at Windfall Lake $ $

Posted by AGORACOM-Eric at 8:08 AM on Thursday, March 11th, 2021

Durango Resources Inc. (TSXV:DGO) (Frankfurt:86A1) (OTC:ATOXF), (the “Company” or “Durango”) reports that recent drilling on its wholly owned Trove Property at Windfall Lake, Québec has intersected visible (“native”) silver in its latest drill hole.

The drill hole was completed on the northern portion of the Trove Property and was targeted to test a magnetic and Induced Polarization (“IP”) anomaly in the area. The hole was drilled sub-perpendicular to the Rouleau fault which continues onward to the Gladiator deposit of neighbouring Bonterra Resources Inc. (TSX-BTR) and is where the Windfall Lake structure converges.

Trove Property drill hole location outline

“Native silver” is composed of atoms from a single element of Ag (silver). Silver is usually associated with gold, copper and sulphides. Native silver is usually found in hydrothermal systems developed around felsic to intermediate magma. The presence of native silver is an indicator of a last phase of hydrothermal solution precipitation after K-feldspar, pyrite and gold. Native silver is generally found bordering important magmatic-hydrothermal systems.   

Durango’s latest diamond drill hole intersected 9 meters of orogenic styles of mineralization in a shear zone which contained native silver identified at multiple depths including 285 and 288 meters below surface. Overall observations of the drill core included multiple shear and breccia zones, silica-sericite-carbonate-tourmaline-epidote alteration, mineralized quartz veins, and mineralized felsic dikes in contact with volcanic units.

General mineralization consisted of disseminated pyrite and stringers, sphalerite and pyrrhotite associated with shear and alteration zones. The presence of visible silver is an indication that the current drilling is near of a hydrothermal system. Durango plans to continue drilling down dip to test the system.

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American Creek $ JV Partner Tudor Gold Initial Mineral Resource Estimate at Treaty Creek; 19.4 Million Ounces of 0.74 gpt AuEq Measured and Indicated $ $ $

Posted by AGORACOM-Eric at 2:43 PM on Tuesday, March 9th, 2021
American Creek Provides Update on Its First Quarter Filings

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.”

Mineral Estimate Highlights include:

  • The classifications of Measured, Indicated and Inferred Mineral Resources for gold, silver, copper and gold-equivalents and their respective tonnage are listed in Table 1 below. In addition to the 17.33 million ounces of gold Measured and Indicated Mineral Resource and 7.22 million ounces of gold Inferred Mineral Resource, there are 93.41 million ounces of silver estimated as Measured and Indicated Mineral Resources with an additional 40.57 million ounces of Inferred silver Mineral Resource. The Measured and Indicated Mineral Resource also estimates 1.096 billion pounds of copper with an additional 330 million pounds of copper as an Inferred Mineral Resource.
  • A bulk density of 2.80 t/m3 was based on measurements taken by P&E during their field visits.
  • 5m x 5m x 5m three-dimensional block model was used for the Mineral Resource Estimate. Measured Mineral Resources are informed by four of more drill holes within 100 metres; Indicated Mineral Resources are informed by four of more drill holes within 200 metres.

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