Posted by AGORACOM-JC
at 8:55 AM on Thursday, October 15th, 2020
American Creek Resources (AMK:TSX-V) Treaty Creek Project has been the subject of incredible discussion in 2020, including by Eric Sprott who stated Treaty Creek may have as much as 50,000,000 ounces of gold this summer.
There isn’t a single junior exploration company that isn’t envious of Treaty Creek and the one good problem it is creating for the Company – it is overshadowing everything else in the Company. As such, AMK announced the following:
“American Creek Announces Spinout of Dunwell Property and Other Properties and Assets and Sets Date for Annual General & Special Meeting”
Watch this powerful interview with CEO Darren Blaney as to the reasons for the spinout that go well beyond the obvious.
Posted by AGORACOM
at 1:06 PM on Friday, September 18th, 2020
VANCOUVER, British Columbia, Sept. 18, 2020 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) (“Candente” or the “Company”) is pleased to announce the voting results for its Annual General Meeting of shareholders held Thursday, September 17th, 2020 in Vancouver, British Columbia.
A total of 34,206,593 common shares, representing 14.05% of the Company’s issued and outstanding shares were represented at the Meeting and all motions put forward were passed.
The following sets forth a summary of the voting results:
Number of Directors Determining the number of Directors at six (6).
Votes For:
89.75%
Votes Against:
10.25%
Election of Directors Determining the Directors to hold office until the next annual meeting of shareholders of the Company.
Votes For
Votes Withheld
Joanne C. Freeze
98.94%
1.06%
Sean I. Waller
94.81%
5.19%
Giulio Bonifacio
94.95%
5.05%
George Elliott
84.98%
15.02%
Andres J. Milla
84.98%
15.02%
Agustin Pichot
84.98%
15.02%
Appointment of Auditor Appointing Davidson and Company LLP, Chartered Professional Accountants, as Auditors of the Company for the ensuing year at a remuneration to be fixed by the Directors.
Votes For:
96.76%
Votes Withheld:
3.24%
Approval of Unallocated Options, Rights and Other Entitlements under Option Plan Approving, all unallocated options, rights and other entitlements under the Company’s Stock Option Plan.
Votes For:
88.95%
Votes Against:
11.05%
Shareholders Rights Plan Confirming the Company’s Shareholder Rights Plan Agreement.
Votes For:
99.32%
Votes Against:
0.68%
Other Matters Approving, other business as may properly come before the Meeting or any adjournment thereof.
Votes For:
89.64%
Votes Against:
10.36%
About Candente Copper
Candente Copper is a mineral exploration company engaged in acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, which all occur within a 5 km long structural setting. The Cañariaco project is located in the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.
Joanne C. Freeze, P.Geo., President and CEO, is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. She have reviewed and approved the contents of this release.
This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente Copper relies upon litigation protection for forward-looking statements.
On behalf of the Board of Candente Copper Corp.
“Joanne C. Freeze” P.Geo. President, CEO and Director ___________________________________ For further information please contact:
Posted by AGORACOM
at 8:47 AM on Friday, September 18th, 2020
Copper prices rallied on Friday after predictions that Chinese imports of scrap metal are likely to fall by half, forcing the country to up cargoes of concentrate and unwrought copper, which are already at record levels.
Copper for delivery in December trading in New York exchanged hands for $3.0525 per pound ($6,730 a tonne) in midday trade, up 1.8% from yesterday’s settlement and not far off two-year highs struck at the beginning of the month.
China consumes more copper than the rest of the world combined and Reuters reports the China Nonferrous Metals Industry Association told a conference on Friday that imports of secondary copper could halve in 2020, from just under 1.5 million tonnes last year.
The country wants to eliminate imports of what it deems “foreign waste” and has implemented a strict quota system.
In a recent research report, Roskill called scrap the most vulnerable link in the global supply chain and said Chinese importers’ attempts at diversification by buying more ingot and copper granules have only had limited success, forcing importers to buy cathode from the rest of the world, where metal demand has slumped.
Jonathan Barnes, associate consultant for copper at the London-based metal and minerals researcher, noted regulations set for June that would have classified copper scrap as a “renewable resource” to enable refiners to skirt regulations have been delayed indefinitely.
Barnes says on top of that several major shipping lines are refusing to transport scrap, fearing liability for return shipment if containerized cargoes are rejected by Chinese customs.
Concentrate hard to come by
Barnes says while the effects of covid-19 could decrease world consumption of the metal by 3%–4% this year, the drop in mine output and scrap flows has been greater.
Customs data show China’s unwrought copper imports (anodes and cathodes) in August declined to 668,486 tonnes from July’s record haul of 762,211 tonnes, but still up 65% from August last year.
Year to date imports now total 4.27m tonnes, up 38% from 2019 and on track to easily beat 2018’s annual record of 5.3m tonnes.
At the same time, concentrate supplies from South America, where China sources the bulk of its mined copper, have been disrupted due to covid.
August imports of copper concentrate fell by more than 12% from the same month last year to 1.59m tonnes on lingering supply disruptions from Peru and Chile.
Posted by AGORACOM
at 6:13 PM on Thursday, September 17th, 2020
For anyone who missed it we are providing the link to Tudor’s presentation on Treaty Creek. Catalin Kilofliski and Ken Konkin only took 15 minutes to do a great job at giving us details on the geological system and where the focus is at Treaty Creek. We highly encourage everyone to take a few minutes to watch it.
The Treaty Creek Project is a Joint Venture with Tudor Gold, who owns 3/5th and acts as the 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”.
We also recommend you forwarding this to friends, family, or anyone else you may know that has an interest in the gold mining sector.
Posted by AGORACOM
at 8:38 AM on Friday, September 11th, 2020
American Creek Resources Ltd. (TSXV: AMK) (“the Corporation”) is pleased to report that it has now completed a 450 line km high-resolution magnetic survey in combination with a LIDAR survey at the company’s 100% owned Dunwell Mine gold and silver property located in the Golden Triangle of British Columbia.
Genesis Aviation Inc. was chosen to complete the High-Resolution Gradient Magnetometer survey in conjunction with a Three-Dimensional LIDAR survey over the property. This type of magnetic survey is flown by a low altitude helicopter and offers Measured Horizontal and Vertical Gradient data. This makes a significant difference to the magnetic inversion that provides a model at depth. The survey, which was conducted over the whole property, will allow the past, present and future geological and geophysical programs to be correlated with a much higher degree of accuracy than otherwise possible.
The geophysical instruments used were GEM Systems GSMP-35A Potassium Vapor Magnetometers mounted in a Tri-Axal array.
Darren Blaney, CEO and President stated: “We look forward to seeing the results of the recently completed magnetic and Lidar surveys as that new data, combined with our fall 2019 IP data, will greatly expand our understanding of the underground geology and enhance drill placement and targeting. We will also now be able to develop strong correlations between known mineralized zones and future untested targets thus potentially improving our hit ratio as we target these high-grade vein systems with the drill.
We have always thought that the numerous high-grade gold and silver showings associated with the Portland Canal Fissure Zone, that extends through the property for several kilometers down the valley, are related in some meaningful way and are likely part of the same geological event. We will soon be in position to begin proving this with the commencement of the Dunwell Phase II drill program planned for this fall.”
The Dunwell Mine is a high-grade past producing polymetallic mine located just 8 kilometers by road from the shipping town of Stewart, BC. The mine itself is one of dozens of high-grade gold / silver / lead / zinc occurrences that are primarily associated with the Portland Canal Fissure zone that extends for several kilometers through the property. The Dunwell Mine project boasts exceptional logistics and a rich mining history with potential for future development. It is located within the Bear River valley which was one of the first areas prospected in the Stewart camp because of its combination of rich veins and easy access due to the low elevation and close proximity to town.
Because of the property’s low elevation and heavy rainfall, it is completely covered with a heavy canopy of vegetation with exposed bedrock limited to gullies and stream beds. Notwithstanding this limited surface outcrop, there are over two dozen known high-grade showings on the property. As no modern exploration techniques or technologies had been employed on the Dunwell property prior to American Creek’s acquisition, careful consideration was given as to the best options and techniques that could lead to discovery. This analysis resulted in a decision to proceed with an extensive Induced Polarization (IP) survey in the fall of 2019 and, to further define targets, this just completed detailed Magnetic survey in 2020.
Alpha IP was chosen over a conventional IP survey because of its cutting-edge technology in detecting detailed high chargeability / low resistance anomalies in the ground. Specifically, the Alpha IP survey has far greater resolution and depth than standard IP’s and can provide the data in a 3D view. These are critical factors as the Dunwell Mine property contains numerous high-grade veins that are potentially more readily detected using a high-resolution survey.
Simcoe Geoscience, who performed the survey, was chosen because of their exceptional experience in this field and the in-depth interpretation they provide. Once the data provided by Genesis is processed, Simcoe will also be using their expertise to integrate the new 3D Magnetic Survey results with the existing IP results, the 2019 maiden drill program results, and all historic data in order to fine tune drill targets. Simcoe’s same Alpha IP system continues to achieve success locating high-grade veins at Ascot’s neighboring Silbak-Premier Mine (9km away).
The exploration objectives of the Alpha IP survey were to detect the source of potential high‐grade Au, Ag, Pb, Zn, Cu in quartz and detect quartz breccia vein systems hosted within thin bedded argillite, siltstone and greywacke of the Middle Jurassic Salmon River Formation (Hazelton Group). The Alpha IP system was used to provide the following benefits:
Detect and delineate zones and structures related to the emplacement of sulphide mineralization to depths of up to 400 meters with chargeability and resistivity.
Mapping the resistivity and chargeability features related to mineralization, alteration, faults and lithologies.
Results from the fall 2019 survey resulted in thirty-seven anomalous zones being identified and interpreted as significant targets for follow up from surface to ~300m+ depth. Out of thirty-seven anomalous zones, fifteen are considered first priority, sixteen second and six are third priority targets. The anomalous zones consist of strong to moderate chargeability related to associated conductive to resistive zones. These targets have a strong correlation with the Portland Canal Fissure Zone with the strongest targets running along the Dunwell Creek / Portland Canal Faults, the secondary targets running down each side of the primary target, and the tertiary targets running along the western edge of the fissure zone.
Property Description and History
The Dunwell property is located just 7 km east of the Silbak Premier Mine (Ascot Resources), 11 km west of the Red Mountain deposit (Ascot – formally IDM), and only 9 km north of the past producing Porter Idaho silver mine (Strikepoint Gold). Through a series of strategic acquisitions American Creek was able to purchase the past-producing Dunwell Mine as well as several adjoining very prospective properties, combining them into one large land package that encompasses the most promising gold and silver mineral occurrences and historic workings within the Bear River valley. The amalgamated property spans 2,222 hectares covering the majority of the Portland Canal Fissure Zone, an area first prospected in the late 1800’s and hosting some of the earliest producing gold and silver mines in the Stewart area.
Image of the Dunwell Mine Property located between Ascot’s Premier Mine and Red Mountain.
The Portland Canal Fissure Zone is the most significant geological feature in the Bear River valley. This zone of faulting and shearing trends north, dips steeply west, and hosts a vein system that extends southward for 6.5 kilometres from the Victoria/Dandy occurrence (on Dunwell) in the north, through the Dunwell mine itself, across Glacier Creek to the Ben Bolt occurrence (on Dunwell) in the south. With the recent acquisition of the Glacier Creek Crown Grants (south of Glacier Creek), American Creek now controls 5km of the 6.5km fissure zone which contains numerous high-grade polymetallic mineral occurrences including two past producing mines (Dunwell and Portland Canal).
The Dunwell project is located 8km northeast of Stewart and is road accessible with the Dunwell Mine adit itself located only 2km from Highway 37A and a major power line (both running through the property). Stewart hosts two deep sea ports including ore loading and shipping facilities. Unlike the majority of mineral properties located in the Golden Triangle near Stewart, the Dunwell Mine is located in low mountainous terrain (800m and lower elevation) with relatively moderate relief. These features allow for potential year-round work which typically isn’t the case for exploration programs conducted in the Stewart region where projects are typically at higher altitude, are accessible only by helicopter, and lack critical infrastructure such as roads and power. The Dunwell Mine project may very well have the best logistics of any project within the Golden Triangle.
According to historic records, the Dunwell Mine is the most significant mineral occurrence within the Portland Canal Fissure Zone. Production at the Dunwell occurred between 1926 and 1941. From historic production reports, it appears that a total of 45,657 tonnes averaging 6.63 g/t gold, 223.91 g/t silver, 1.83% lead, 2.43% zinc and 0.056% copper were produced.
American Creek’s Phase I maiden drill program on the Dunwell (which took place within the vicinity of the Dunwell Mine in the fall of 2019) produced many high-grade intercepts including:
For a table showing breakdown of metals and complete results please click here for the press release.
In addition to the Dunwell mine itself, the property package also contains over two dozen other high-grade gold and silver occurrences and historic small-scale gold/silver high-grading operations along a north/south trend that correlates to the fissure zone and major faulting. Some examples of the nine areas on the Dunwell property that produced ore historically are:
Ben Ali: 4,500 tons at 21.6 g/t gold
Lakeview 60 tons at 4.7 g/t gold, 2,734 g/t silver, and 11.5% lead
Victoria 11 tons at 20.15 g/t gold, 775 g/t silver, 25% lead
Tyee 8.2 tons at 124.4 g/t gold and 4,478.8 g/t silver
George E 12 tons at 13 g/t gold and 3,250 g/t silver, 23.3% lead
Each of these areas were producing during the 1930’s when exploration techniques and technology was very primitive. They were basically high-grading operations focused on vein systems that were exposed on surface.
The High-Resolution Gradient Magnetometer survey combined with the 3D Alpha IP survey represent the cutting edge in geophysical technology today and are designed to aid with understanding potential correlations between the multiple high-grade surface showings.
The Dunwell Phase II drill program is expected to commence in the near future once the data and interpretation from the geophysical survey is integrated with the IP data, last year’s drilling data, and all historical data.
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Jim McRae, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
About American Creek
American Creek holds a strong portfolio of gold and silver properties in British Columbia.
The portfolio includes three Golden Triangle gold/silver properties; the Treaty Creek joint venture with Walter Storm/Tudor Gold, as well as the 100% owned D-1 McBride property and 100% owned past-producing Dunwell Mine.
Other properties held throughout BC include the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com.
Posted by AGORACOM
at 9:32 AM on Wednesday, September 9th, 2020
Drill Hole GS-20-73 Expands the 300 Horizon with a 229.5 Meter Intercept Averaging 1.506 Gpt AuEq Within a 775.5 Meter Interval Averaging 0.932 Gpt AuEq.
Drill Hole GS-20-66 Expands the CS-600 System 100 Metres to the Southeast with a 75 Meter Intercept Averaging 2.150 Gpt AuEq.
Expands the Goldstorm Mineralization Along the Northeast Axis to 1100 Meters
Cardston, Alberta–(Newsfile Corp. – September 9, 2020) – American Creek Resources Ltd. (TSXV: AMK) (“the Corporation”) is pleased to report that its JV partner Tudor Gold Corp announced today that it has completed the third set of diamond drill holes at our JV flagship property, Treaty Creek located in the heart of the Golden Triangle of Northwestern British Columbia. Diamond drilling is progressing very well with six diamond drill rigs currently working on the Goldstorm Zone which is on-trend from Seabridges’ KSM Project to the southwest.
Three drill holes have intersected the newly discovered gold-dominant PSZ System located approximately 2 kilometers southwest of the Goldstorm Zone. These diamond drill holes targeted a 1.5 kilometer-wide geophysical anomaly (magnetometer high). Tudor Gold has discovered this new thrust-hosted porphyry-style gold-copper-silver bearing system on trend, and approximately 4 km northeast from Seabridges’ Iron Cap Deposit, which is located at the southwestern boundary of the Tudor Claim block.
Furthermore, diamond drilling on the Goldstorm System has successfully expanded the mineralization to the northeast, southwest and southeast as well to depth. The Goldstorm System 300 Horizon has now been traced for 1100 meters along the northeast axis.
Goldstorm Drilling Highlights include:
Five diamond drill holes are reported from Goldstorm, all having hit their intended targets with favorable results listed in Table l.
The best intercept was from drill hole GS-20-73 on Section 110+00 NE that cut 775.5 metres (29.0m to 804.5 m) averaging 0.932 gpt AuEq containing an enriched portion that averaged 1.506 gpt AuEq over 229.5 meters (519.5m to 749.0 m). This was a southwest offset to drill hole GS-20-57 that averaged 1.40 gpt AuEq over 217.5 meters (544.5 to 762.0 meters) within an overall composite averaging 0.845 gpt AuEq over 973.05m (34.50 to 1007.55 meters). (GS-20-57 was collared on Section 110+00 but deviated drastically to the northeast and the lower portion plotted on Section 111+00 NE leaving a gap in the drill model which GS-20-73 has now filled).
A second longer intercept from GS-20-73 includes material that averaged 0.828 gpt AuEq from a 949.5 meter intercept (29.0 to 978.5 meters) but the hole was abandoned at 980 meters due to safety concerns with the drill platform so hole GS-20-73 WAS STOPPED IN MINERALIZATION. However, the results from entire hole composites are extremely consistent between GS-20-57 (0.845 gpt AuEq over 973.05 meters) and GS-20-73 (0.827 gpt AuEq over 949.5 meters).
Drill hole GS-20-73 is undercut by GS-20-65; a remarkable 348 meter intercept of 2.120 gpt AuEq within a larger 930 meter intercept of 1.161 gpt AuEq (Press Release July 27th, 2020), which is currently the best intercept on the project to-date.
Tudor expanded the CS-600 Zone 100m to the southeast on Section 109+00 NE with a 75 meter intercept averaging 2.150 gpt AuEq in hole GS-20-66.
GS-20-67 on Section 114+00 NE deviated drastically to the north thereby extending the length of the northeast axis of the 300 Horizon to 1100 meters. This hole also ended in mineralization with the last 15 meters (1325m to 1340m) averaging 0.905 gpt AuEq within a strong quartz stockwork zone similar to the DS-5 stockwork system found at the bottom of GS-19-47 (243 meters averaging 0.996 gpt AuEq). See Section 114+00 NE attached below.
Notable increase to silver grades occurred within GS-20-73. A 78 meter intercept (534.5m to 612.5m) had elevated silver grades averaging 26.3 gpt Ag associated with 1.588 gpt gold.
Tudor Gold’s Vice President of Project Development, Ken Konkin, P.Geo., states: “We are very pleased to have intersected significant gold-copper-silver porphyry-related mineralization within a large magnetic anomaly called Perfectstorm (PSZ). This magnetic anomaly is located along a relatively evenly spaced frequency of large deposits following the Treaty-Sulphuretes Thrust Fault, approximately mid-way between the Iron Cap Deposit to the southwest and our Goldstorm System to the northeast. Results obtained from PS-20-01 and PS-20-02 on Section 89+00 NE demonstrate the consistency within these two drill holes completed off the same drill pad. PS-20-01 intersected 0.594 gpt AuEq over 133.5 meters while PS-20-02 intersected 151 meters of 0.621 gpt AuEq. The third PSZ System drill hole was a 300 meter step-out to the southwest and this hole (PS-20-03) intersected 220.5 meters of 0.402 gpt AuEq on Section 86+00 NE. The results suggest that the system is open to expansion to the southwest and to the northwest. The exploration target area is at least 1.5 kilometers long and 500-800 meters wide. We are very excited to see the results confirming that large mineralized polymetallic systems occur at a predictable frequency along the Sulphuretes-Treaty Thrust Fault belt. We are planning an aggressive diamond drill-hole program for 2021 to further expand the limits of the PSZ System’s potential mineralization, searching for the center of the metal pile as we have successfully done with the Goldstorm System.”
The two tables below provide the complete list of composite results from the eight drill holes reported, as well as the drill hole data including hole location, elevation, depth, dip and azimuth. Perfectstorm Sections 86+00 NE and 89+00 NE with Goldstorm Sections 109+00 NE, 110+00 NE and 114+00 NE are attached below along with corresponding plan maps (also available on the Company’s website).
Table l Gold equivalent composite values from five Goldstorm Zone holes and three PSZ drill holes.
Section
HOLE
Horizon
From
To
Interval (m)
Au (gpt)
Ag (gpt)
Cu (ppm)
AuEq (gpt)
109+00 NE
GS-20-66
300H+CS600
6.0
529.5
523.5
0.673
1.86
425
0.758
109+00 NE
GS-20-66
including 300H
7.5
156.5
149.0
0.941
3.29
190
1.008
109+00 NE
GS-20-66
including CS-600
454.5
529.5
75.0
2.075
1.87
352
2.150
109+00 NE
GS-20-68
300
4.85
798.0
793.15
0.521
1.73
127
0.561
109+00 NE
GS-20-68
including 300H
4.85
62.0
57.15
1.026
1.11
60
1.048
109+00 NE
GS-20-68
& including 300H
221.0
536.0
315.0
0.744
1.82
135
0.785
109+00 NE
GS-20-72
300H
4.5
730.5
726.0
0.475
1.53
97
0.507
110+00 NE
GS-20-73
330H
29.0
804.5
775.5
0.842
5.47
160
0.932
110+00 NE
GS-20-73
or 330H
29.0
978.5
949.5
0.749
4.67
152
0.828
110+00 NE
GS-20-73
including
29.0
80.0
51.0
1.276
6.52
168
1.379
110+00 NE
GS-20-73
& including
519.5
749.0
229.5
1.338
11.94
170
1.506
114+00 NE
GS-20-67
300H
62.0
68.0
6.0
1.799
0.88
100
1.824
114+00 NE
GS-20-67
and 300H
126.5
908.0
781.5
0.486
2.99
238
0.557
114+00 NE
GS-20-67
including 300H
321.5
591.5
270.0
0.618
5.20
492
0.754
114+00 NE
GS-20-67
and 300
1325.0
1340.0
15.0
0.860
1.64
175
0.905
89+00 NE
PS-20-01
Main
240.0
373.5
133.5
0.483
2.75
527
0.594
89+00 NE
PS-20-01
including
240.0
320.5
80.5
0.573
4.11
775
0.737
89+00 NE
PS-20-02
Main
265.5
416.5
151.0
0.514
3.16
469
0.621
89+00 NE
PS-20-02
including
300.5
350
49.5
0.781
6.71
648
0.957
86+00 NE
PS-20-03
Main
152.0
372.5
220.5
0.293
1.78
591
0.402
86+00 NE
PS-20-03
including Upper
152.0
171.5
19.5
0.885
0.82
160
0.919
86+00 NE
PS-20-03
including Lower
348.5
371
22.5
0.846
3.73
340
0.942
All assay values are uncut and intervals reflect drilled intercept lengths.
HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5m intervals
The following metal prices were used to calculate the Au Eq metal content: Gold $1322/oz, Ag: $15.91/oz, Cu: $2.86/lb. Calculations used the formula Au Eq g/t = (Au g/t) + (Ag g/t x 0.012) + (Cu% x 1.4835). All metals are reported in USD and calculations do not consider metal recoveries. True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.
Walter Storm, President and CEO, stated: “We are delighted to see continued success from the Treaty Creek drill program. Not only are we getting excellent results from all the drill holes completed this year, we have also discovered a new mineralized system at Perfectstorm. This demonstrates the remarkable potential that our flagship property holds. However, we must now focus all our exploration efforts on completing the drilling at Goldstorm. We intend to continue our 150 meter step-outs to the northeast on Section 115+50 NE as well as expand the drilling to the southeast and northwest along Sections 110+00 NE, 111+00 NE, 112+50 NE and 114+00 NE. The Goldstorm System remains open in all directions and at depth.”
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 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.
QA/QC
Drill core samples were prepared at MSA Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’ Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.
Qualified Person
The Qualified Person for Tudor’s news release for the purposes of National Instrument 43-101 is Tudors Vice President Project Development, 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 Tudors 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”.
Treaty Creek Background
The Treaty Creek Project lies in the same hydrothermal system as Pretium’s Brucejack mine and Seabridge’s KSM deposits with far better logistics.
American Creek is a Canadian junior 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 JV with Tudor Gold/Walter Storm, the D-1 McBride, and the 100% owned past producing 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.
See additional images of drill locations in this press release at www.americancreek.com.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com
Posted by AGORACOM
at 9:21 AM on Monday, August 31st, 2020
This week Rick Rule and Doug Casey had an excellent 2 part interview on Kitco. It was both highly informative and entertaining. I suggest that everyone watch it after you listen to Eric Sprott so I’ve included the Kitco links below for you. In the interview Doug Casey suggests that we all try to follow the advice of Wayne Gretzky which is this “On the ice skating arena, most guys skate to the puck, and that’s a problem because there’s all these big mean guys swinging sticks….skate to where you think the puck is going to be opposed to where all these big means guys swinging sticks are”.
Who can argue with Gretzky given his track record? That’s exactly what Eric Sprott is doing with his investments. He closely follows the silver / gold ratio which is 17.5:1 in the ground. As you can see on the 10 year chart below the market ratio has had dramatic increases over the last decade, and industry experts are saying it is due to silver being more manipulated than gold. In April of this year it reached a peak of 114.77 (a 94 year high) and (for various reasons) is on its way back down.
Sprott has stated that all the data “is screaming” that the market silver / gold ratio will go down to a 15:1 ratio (for many reasons but one is that the silver / gold ratio in production is only 8:1 so there just isn’t enough silver out there to account for all the silver accounts on paper and people are starting to want delivery – a very wise decision). So like Gretzky, Sprott is looking at where the puck is going to be, or in this case where silver is going to be, and evaluating companies based on where they would be if a 15:1 ratio were to take place.
I thought he would start talking about the many high-grade projects out there but instead the very first example he had was Treaty Creek where the silver is just an afterthought! The first 12 minutes is spent discussing arguments for silver and then Eric explains why Treaty is the first one he mentions would benefit from a dropping silver / gold ratio (11:40 – 13:19).
As promised, here is the two part interview with Rick Rule and Doug Casey. I highly suggest you watch it to the end!
Posted by AGORACOM
at 10:47 AM on Friday, August 28th, 2020
Candente Copper is currently focused on its 100% owned Canariaco project, which includes the Feasibility stage Canariaco Norte deposit as well as the Canariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru. Canariaco is included in Goldman Sachs 84 Top Copper Projects Worldwide
An employee looks over sheets of copper cathode at Glencore’s Lomas Bayas copper operation in Chile. Credit: Glencore.
Copper was once again approaching the psychologically important US$3 per lb. level on the back of falling inventories, booming Chinese demand and pandemic hit supply from South America, the U.S. and Africa.
On Aug. 26, Copper for delivery in December trading in New York jumped 1.5% to US$2.9965 per lb. ($6,605 a tonne) in afternoon trading, bringing gains in 2020 to more than 7%, and 50% since the Covid-19 lows struck in March.
A new report from Roskill suggests the rally in copper, which has surprised many with its speed, has further to go.
Jonathan Barnes, associate consultant for copper at the London-based metal and minerals research firm, says while the effects of Covid-19 could decrease world consumption of the metal by 3%-4% this year, the drop in mine output and scrap flows has been greater.
This is most visible in the fall in inventories around the world.
Globally, total visible stocks, which include those on exchanges and bonded warehouses in China, fell by 40% from March through July to below 600,000 tonnes. LME warehouse inventories are at 13-year lows.
China is responsible for more than half of the world’s copper consumption, and the country is buying copper at record-setting rates.
“China is importing more refined metal from nearly every country suggesting a structural shift, not a temporary change,” says Barnes.
“If you are looking for signs of panic buying, you can find evidence of that in China – total Chinese stocks represent less than two weeks’ consumption at current rates of use.”
In the rest of the world, where demand has dropped by much more relative to China, stocks represent only one week of consumption.
The lack of available scrap – imports are down 50% in the first half – after Beijing delayed new importing rules, has forced the Chinese buyers to replace secondary sources with cathode, further driving down visible inventories.
Roskill estimates a 300,000-tonne shortfall in imports of secondary materials — scrap, ingots and granules – into China from January to July.
Barnes believes global scrap flows may not normalize until the first quarter of next year, but would depend on new rules in China.
Roskill’s sources have not been able to confirm that China’s State Reserve Bureau has been buying up strategic stocks of copper, “but if they were, they probably would have done so earlier, when prices were much lower,” Barnes says.
Disruptions to mine supply could be between 750,000 to 1 million tonnes in 2020, with eight out of the 10 largest miners recording lower output during the first half of the year.
China’s concentrate imports are down year on year, while sourcing anodes from the central Africa copper belt is also hitting roadblocks.
Barnes says China’s two-year restocking cycle is rising in amplitude as the country’s dominance in the copper market increases, and he expects an 11.5% rise for the full year in copper imports.
The country has a structural copper market deficit, and it restocks whenever LME prices appear attractive. Moreover, says Barnes, China can take a long term view and use tomorrow what it does not need today.
Roskill expects trade data to show another bumper August for imports, despite being a seasonally muted month for shipments.
The copper price will likely rise further towards the end of 2020, Barnes says, and the current environment has strong parallels to the rebound in the copper price after the global financial crisis.
Copper hit a low of US$1.32 per lb. in January 2009, then surged to US$3.55 by April 2010, on its way to an all-time high of US$4.58 (more than $10,000 per tonne) in February 2011.
Posted by AGORACOM
at 8:13 AM on Monday, August 24th, 2020
Fortescue Metals Group Limited holds 19.9% shareholding in the Company.
Fortesque is a strategic Advisor to advance Canariaco Norte
VANCOUVER, British Columbia, Aug. 24, 2020 (GLOBE NEWSWIRE) — Candente Copper Corp. (TSX:DNT, BVL:DNT) (“Candente Copper” or the “Company”) is pleased to announce that Mr. Agustin Pichot has been appointed to the board of directors of Candente Copper, representing Fortescue Metals Group Limited (“Fortescue”) who has a 19.9% shareholding in the Company.
Mr. Pichot is President of Fortescue South America and is responsible for the development of Fortescue’s mining, energy and infrastructure business across the region.
Previously (in 2000) Mr. Pichot founded Pegas Group, a large South American sport media and marketing agency and also worked in asset management and global investment strategies in the financial sector in Argentina from 2015 to 2018.
Prior to 2010, Mr. Pichot spent 16 years as a player and national captain in world rugby representing Argentina and France. He also served as an Executive Board Member, for both the Argentina Rugby Union and the International Rugby Board between 2011 and 2020. A philanthropist, Mr. Pichot is also part of the executive teams of two foundations, Fundación Enrique Alberto Pichot and the Minderoo Foundation.
On another matter, John Black has advised the company that due to his many other demanding commitments, he has decided not to stand for re-election as Director at the upcoming Annual General Meeting (“AGM”) in September. We are pleased to advise, however, that Mr. Black will stay on as an advisor to the Company and as a member of the Cañariaco Norte Technical Committee, which the Company is forming with Fortescue.
About Candente Copper Candente Copper is a mineral exploration company engaged in acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the Western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.
On behalf of the Board of Candente Copper Corp.
“Joanne C. Freeze” P.Geo. President, CEO and Director ___________________________________ For further information please contact:
Posted by AGORACOM
at 9:15 AM on Thursday, August 20th, 2020
Dunwell Mine is one of dozens of high-grade gold / silver / lead / zinc occurrences that are primarily associated with the Portland Canal Fissure zone that extends for several kilometers through the property.
Cardston, Alberta–(Newsfile Corp. – August 20, 2020) – American Creek Resources Ltd. (TSXV: AMK) (“the Corporation”) is pleased to report that it has commenced a high-resolution magnetic survey in combination with a LIDAR survey at the company’s 100% owned Dunwell Mine gold and silver property located in the Golden Triangle of British Columbia.
Genesis Aviation Inc. is currently completing a High- Resolution Gradient Magnetometer survey in conjunction with a Three-Dimensional LIDAR survey over the property. This type of magnetic survey is flown by a low altitude helicopter and offers Measured Horizontal and Vertical Gradient data. This makes a significant difference to the magnetic inversion that provides a model at depth. The LIDAR survey being collected over the whole property will allow the past, present and future geological and geophysical programs to be correlated with a much higher degree of accuracy than otherwise possible.
The Dunwell Mine is a high-grade past producing polymetallic mine located just 8 kilometers by road from the shipping town of Stewart BC. The mine itself is one of dozens of high-grade gold / silver / lead / zinc occurrences that are primarily associated with the Portland Canal Fissure zone that extends for several kilometers through the property. The Dunwell Mine project boasts exceptional logistics and a rich mining history with potential for future development. It is located within the Bear River valley which was one of the first areas prospected in the Stewart camp because of its combination of rich veins and easy access due to the low elevation and proximity to town.
Figure 1: Image of the historic Dunwell Mine which shut down during World War II
Because of the property’s low elevation and heavy rainfall, it is completely covered with a heavy canopy of vegetation with limited exposed bedrock in gullies and stream beds. As no modern exploration techniques or technologies had been conducted on the Dunwell prior to American Creek’s acquisition, careful consideration was given as to the best options that could lead to discovery. This resulted in a decision to proceed with a detailed Magnetic survey in 2020 and an Induced Polarization (IP) survey in the fall of 2019.
Alpha IP was chosen over a conventional IP survey because of its cutting-edge technology in detecting detailed high chargeability / low resistance anomalies in the ground. Specifically, the Alpha IP survey has far greater resolution and depth than standard IP’s and can provide the data in a 3D view. These are critical factors as the Dunwell Mine property contains numerous high-grade veins that are more readily detected using a high-resolution survey. Simcoe Geoscience, who performed the survey, was chosen because of their exceptional experience in this field and the in-depth interpretation they provide. They will also be using their expertise to integrate the new 3D Magnetic Survey results with the existing IP results. Simcoe’s same Alpha IP system continues to achieve success locating high-grade veins at Ascot’s neighboring Silbak-Premier Mine (9km away).
The exploration objectives of the Alpha IP survey were to detect the source of potential high‐grade Au, Ag, Pb, Zn, Cu in quartz and detect quartz breccia veins hosted in thin bedded argillite, siltstone and greywacke of the Middle Jurassic Salmon River Formation (Hazelton Group). The Alpha IP system was used to provide the following benefits:
Detect and delineate zones and structures related to the emplacement of sulphide mineralization to depths of up to 400 meters with chargeability and resistivity.
Mapping the resistivity and chargeability features related to mineralization, alteration, faults and lithologies.
Thirty-seven anomalous zones were interpreted as significant targets for follow up from surface to ~300m+ depth. Out of thirty-seven anomalous zones, fifteen are considered first priority, sixteen second and six are third priority targets. The anomalous zones consist of strong to moderate chargeability related to associated conductive to resistive zones. These targets have a strong correlation with the Portland Canal Fissure Zone with the strongest targets running along the Dunwell Creek / Portland Canal Fault, the secondary targets running down each side of the primary target, and the tertiary targets running along the western edge of the fissure zone.
CEO and President, Darren Blaney stated: “We are excited about the magnetic and Lidar surveys taking place right now and the further detail they will give us in expanding our understanding of the underground geology when combined with last fall’s Alpha IP.
“We have always thought that the numerous high-grade gold and silver showings associated with the Portland Canal Fissure Zone, that extends for several kilometers down the valley, are related in some meaningful way and may be part of the same geological event. The additional geophysics will greatly add to our understanding of the geology down to 400 meters in depth.
“We are expecting quick turnaround of the new geophysics data which will allow us to commence the Phase II drill program this fall with the advantage and added benefit of utilizing this new information in targeting the drill.”
Property Description and History
The property is located just 7 km east of the Silbak Premier Mine (Ascot Resources), 11 km west of the Red Mountain deposit (Ascot – formally IDM), and only 9 km north of the past producing Porter Idaho silver mine (Strikepoint Gold). Through a series of strategic acquisitions American Creek was able to purchase the past-producing Dunwell Mine as well as several adjoining very prospective properties, combining them into one large land package that encompasses the most promising gold and silver mineral occurrences and historic workings within the Bear River valley. The amalgamated property spans 2,222 hectares covering the majority of the Portland Canal Fissure Zone, an area first prospected in the late 1800’s and hosting some of the earliest producing gold and silver mines in the Stewart area.
Figure 2: Image of the Dunwell Mine Property located between Ascot’s Premier Mine and Red Mountain
The Portland Canal Fissure Zone is the most significant geological feature in the Bear River valley. This zone of faulting and shearing trends north, dips steeply west and hosts a vein system that extends southward for 6.5 kilometres from the Victoria/Dandy occurrence (on Dunwell) in the north, through the Dunwell mine itself, across Glacier Creek to the Ben Bolt occurrence (on Dunwell) in the south. With the recent acquisition of the Glacier Creek Crown Grants (south of Glacier Creek) American Creek now controls 5km of the 6.5km fissure zone which contains numerous high-grade polymetallic mineral occurrences including two past producing mines (Dunwell and Portland Canal).
The Dunwell project is located 8km northeast of Stewart and is road accessible with the Dunwell Mine adit itself located only 2km from Highway 37A and a major power line (both running through the property). Stewart hosts two deep sea ports including ore loading and shipping facilities. Unlike the majority of mineral properties located near Stewart, the Dunwell Mine is located in low mountainous terrain (800 m and lower elevation) with relatively moderate relief. These features allow for potential year-round work which typically isn’t the case for exploration programs conducted in the Stewart region where projects are typically at higher altitude, are accessible only by helicopter, and lack critical infrastructure such as roads and power. The Dunwell Mine project may very well have the best logistics of any project within the Golden Triangle.
Figure 3: Image of the Dunwell Mine boundary and showings
The Dunwell Mine is the most significant mineral occurrence within the Portland Canal Fissure Zone. Production at the Dunwell occurred between 1926 and 1941. From historic reports, it appears that a total of 45,657 tonnes averaging 6.63 g/t gold, 223.91 g/t silver, 1.83% lead, 2.43% zinc and 0.056% copper were produced.
In addition to the Dunwell mine itself, the property package also contains over two dozen other high-grade gold and silver occurrences and historic small-scale gold/silver high-grading operations along a north/south trend that correlates to the fissure zone and major faulting. Some examples of the nine areas that actually produced ore are:
Ben Ali: 4,500 tons at 21.6 g/t gold
Lakeview 60 tons at 4.7 g/t gold, 2,734 g/t silver, and 11.5% lead
Victoria 11 tons at 20.15 g/t gold, 775 g/t silver, 25% lead
Tyee 8.2 tons at 124.4 g/t gold and 4,478.8 g/t silver
George E 12 tons at 13 g/t gold and 3,250 g/t silver, 23.3% lead
Each of these areas were producing during the 1930’s when exploration techniques and technology was very primitive.
The High- Resolution Gradient Magnetometer survey combined with the 3D Alpha IP survey represent the cutting edge in geophysical technology today and are designed to aid with understanding potential correlations between the multiple high-grade surface showings.
The Dunwell Phase II drill program is expected to commence early this fall once the data and interpretation from the geophysics survey is available.
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Jim McRae, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
About American Creek
American Creek holds a strong portfolio of gold and silver properties in British Columbia.
The portfolio includes three Golden Triangle gold/silver properties; the Treaty Creek joint venture with Walter Storm/Tudor Gold, as well as the 100% owned D-1 McBride property and 100% owned past-producing Dunwell Mine.
Other properties held throughout BC include the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com.
