Posted by AGORACOM
at 9:39 PM on Monday, October 7th, 2019
Pretium helped define the Golden Triangle with the discovery of high grade gold at Brucejack. Drilling success at American Creek’s Treaty Creek property just north of Pretium is demonstrating the opportunity for a second chance for those that missed out on Brucejack. Aiming to become a peer through sheer force of tonnage, American Creeks JV partner Tudor Gold is returning intercepts that are close to a mile in length, with 0.589 g/t Au over 1081.5m, including an upper interval of 0.828 g/t Au over 301.5m and a lower interval of 0.930 g/t Au over 207m that also demonstrated copper values before exceeding the length of the drill capabilities. Other holes include 0.725 g/t gold over 838.5m, 0.683g/t gold over 780m, and 0.98 g/t gold over 563m.
An equal measure of thanks should also be directed toward Ken Konklin, who made the discovery at at Brucejack, and is now Exploration Manager at Treaty Creek. He came out of retirement after putting the $3 billion Brucejack mine into place because he believes that Treaty Creek holds more potential than what’s he’s already accomplished. He has said that developing the Brucejack mine was a huge achievement but Treaty Creek is going to be his legacy: †The Goldstorm System shows no signs of weakening to the northeast and several more drill holes will be needed to find the length and depth of this huge gold system.Not only does the Goldstorm Zone remain open at depth and along strike, we are now seeing base-metal associations possibly as part of a zonation within the metal system.â€
Treaty Creek:
Part of the same Sulphurets Hydrothermal System that contains a mind boggling 188M oz gold, 1.2B oz silver and 55B lbs of copper (all categories) to date ( P&P reserves of 47M oz Au, 214M oz Ag, and 10B lbs Cu)
Same
trend – deposits occur about every 2-3 km going north with gold grades
increasing as the system extends northward – The Goldstorm zone on
Treaty Creek is the most northerly deposit to date
Huge logistical advantages by being on the right side of the mountain with direct access to power and highway
Potential open pit design requiring a fraction of the capital cost with a shorter payback period.
At the discovery stage of the mining life-cycle where biggest gains are typically made
Large deposits are found near the red “discovery line†and the Sulphurets fault
Has
already increased over 300% since spring and yet only the 2 sets of
assays have been released. Based on the geology, geophysics, extended
strike length and seemingly endless depth, it looks as though things
have just started for American Creek. A major drill program is
presently being conducted at Treaty Creek by JV partner and operator
Tudor Gold. There are now two drills working on the Goldstorm zone. The
Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and
acting as operator, with American Creek holding a 20% interest in the
project. American Creek is fully carried until such time as a Production
Notice is issued. Until such time, Tudor is required to fund all
exploration and development costs while American Creek has a “free
rideâ€.
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
FULL DISCLOSURE: American Creek is an advertising client of AGORA Internet Relations Corp.
Posted by AGORACOM
at 9:46 AM on Monday, September 30th, 2019
Cardston, Alberta–(Newsfile Corp. – September 30, 2019) – American Creek Resources Ltd. (TSXV: AMK) (“American Creek”) (“the Corporation”) is pleased to announce composite results from JV partner Tudor Gold’s ongoing drill program being conducted at the Treaty Creek Project located in the Golden Triangle of NW British Columbia. As announced on September 23, 2019 we now have results from two deep vertical diamond drill holes (drilled to a depth of over 1,000m) and four definition drill holes. All six holes intercepted significant gold mineralization over wide intervals at the Goldstorm Zone.
Goldstorm Extension
Hole GS19-47 was drilled as a 150m step-out from hole GS19-42
(reported July 30, 2019 averaging 0.683 g/t Au over 780m) and was
drilled vertically to a total depth of 1,199m, ending in mineralization.
The hole contains strong stockwork with gold-bearing mineralization
accompanied by significant base-metal disseminated sulphide
mineralization averaging 0.589 g/t Au over 1081.5mincluding an upper interval of 0.828 g/t Au over 301.5m and a lower interval of 0.930 g/t Au over 207 m.
The hole was stopped in mineralization due to the drill rig reaching
its depth limitation, however, casing was left in the hole for possible
continuation next year.
This 150 meter step-out hole confirms that the Goldstorm system is
gaining strength to the northeast. With this strongly mineralized
intercept, the Goldstorm Zone has been extended by a total of 300m
this year from the best hole drilled in 2018 (CB18-39, averaging 0.981
g/t Au over 563.8m) and has now been traced along strike for over 800
meters.
Goldstorm Definition Drilling
A second deep vertical hole, GS19-48, was drilled to a total depth of
1035m from the same pad as CB18-39 (drilled in 2018). The results
exhibit excellent continuity of mineralization between holes and this
drill hole returned 0.725 g/t Auover 838.5m, including a near surface interval of 328.5m averaging 1.048 g/t gold Au.
Four footwall definition holes (GS19-43 to GS19-46) drilled on
section 109+00 NE, were successful in extending the width of the
mineralized zone, to the southeast into the footwall of the controlling
fault structure.
Hole GS19-43 returned an average of 0.566 g/t Au over 493.5m;
Hole GS19-44 returned an average of 0.807 g/t Au over 267m including 1.065 g/t Au over 150m;
Hole GS19-45 returned an average of 0.719 g/t Au over 325.5m including 1.000 g/t Au over 173m.
Hole GS19-46 returned an average of 0.510g/t Au over 594m including 0.734 g/t Au over 162m.
Tudor Gold Exploration Manager, Ken Konkin explains:
“Given the success of the two deep drill holes GS19-47 and GS19-48, the
Goldstorm System shows no signs of weakening to the northeast and
several more drill holes will be needed to find the length and depth of
this huge gold system. Hole GS19-47 showed a very strong quartz
stockwork system and was still in gold values at the end of the 1,199
meter drill hole. The bottom of GS19-47 averages 0.930 g/t Au over 207 meters.
This is the first time we’ve seen this strength of gold mineralization
at depth. Furthermore, a strong copper association was encountered with
gold values at depth in both GS19-47 and GS19-48.
A 151.5m zone of 0.22% copper with 0.572 g/t gold was intercepted from 665.0 to 816.5 meters in GS19-47 and a 66.0m zone of 0.35% copper with 0.958 g/t gold was intercepted from 874.5 to 940.5m in GS19-48.
Not only does the Goldstorm Zone remain open at depth and along
strike, we are now seeing base-metal associations possibly as part of a
zonation within the metal system.”
The following table provides gold composites from all nine 2019 drill
holes completed on five sections that cut the Goldstorm Zone
Table 1: Gold Composite Intervals for Drill Holes GS19-40 to GS19-48
The following table contains diamond drill hole location data for the
drill holes completed in 2019. See the accompanying plan map that shows
drill hole locations and section lines.
Table 2: Diamond Drill Hole Co-ordinates
* Co-ordinates are subject to completion of final survey readings * Orientations are reported for the azimuth and dip of holes at their collars
Goldstorm Zone Drill Section 109+00 NE, 111+00 NE and 114+00 NE
Section 114+00 NE is a 300 m step-out on strike from 111+00 NE and
hole GS19-47 hosts what is now the longest and deepest gold intercept on
the project to date.
Section 111+00 NE shows the consistency of the upper horizon gold grades between holes and new depth extension in hole GS19-48.
Section 109+00 NE shows four definition holes drilled this season to better outline the extent of the zone to the southeast.
Goldstorm Zone Plan Map
The Goldstorm Zone now extends more than 800 meters in strike length
and remains open along strike to the Northeast and Southwest as well as
to depth.
Goldstorm zone drill sections and the plan map are included at the bottom of the news release.
The diamond drilling program continues with two drill rigs. Additional results will be announced as they become available.
Walter Storm, Tudor Gold President and CEO, stated:
“I am very pleased to see that all nine holes drilled have reported
very good results and we have not missed on any step-out targets nor any
footwall extension holes, they were all hits. These results have proven
that we have an excellent understanding of the structure, geology and
mineralogy of this massive gold system. I am looking forward to
continuing our exploration efforts in order to unlock the full potential
of this large gold system.”
Darren Blaney, American Creek CEO, stated: “The
Goldstorm deposit continues to produced world-class intercepts that are
both deep and yet very strong close to surface. Hole GS-19-48 carries 0.725 g/t Au over 838.5m including a near surface interval of 1.048 g/t over 328.5m. It’s just one of many holes that extend to depth ending in mineralization.
In referring to the step out hole GS-19-47 (0.589 g/t Au over
1081.5m including an upper interval of 0.828 g/t Au over 301.5m and a
lower interval of 0.930 g/t Au over 207 m), Eric Sprott stated “That’s
a huge, huge, huge intersection! I’ve always thought this thing has an
easy shot of coming up with 20 million ounces of low-grade gold and
there’s nothing in these results that will deter me from thinking that,
and they’re well positioned in terms of logistics”. What we’re
really excited about is the richer intersections for hundreds of meters
close to surface throughout the entire Goldstorm system. While this
system is proving to be very deep, the reality is it’s also becoming a
rich gold system close to surface that lends itself towards the
possibility of being open pit mined”.
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 this news release for the purposes of
National Instrument 43-101 is Tudor Gold’s Exploration Manager, Ken
Konkin, P.Geo. He has read and approved the scientific and technical
information that forms the basis for the disclosure contained in this
news release.
About American Creek
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 and Electrum joint venture projects with
Tudor Gold/Walter Storm as well as the 100% owned past producing Dunwell
Mine.
A major drill program is presently being conducted at Treaty Creek by
JV partner and operator Tudor Gold. There are two drills working on the
Goldstorm zone at present.
The Treaty Creek Project is a Joint Venture with Tudor Gold owning
60% and acting as operator. American Creek and Teuton Resources each
have 20% interests in the project. American Creek and Teuton are both
fully carried until such time as a Production Notice is issued, at which
time they are required to contribute their respective 20% share of
development costs. Until such time, Tudor is required to fund all
exploration and development costs while both American Creek and Teuton
have “free rides”.
The Corporation also holds the Gold Hill, Austruck-Bonanza, Ample
Goldmax, Silver Side, and Glitter King properties located in other
prospective areas of the province.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com
Figure 1: Goldstorm Zone Selected Results From Deep Step-out Holes
Posted by AGORACOM
at 8:37 AM on Monday, September 23rd, 2019
0.589 g/t Au over 1081.5mincluding an upper interval of 0.828 g/t Au over 301.5m and a lower interval of 0.930 g/t Au over 207 m
The hole was stopped in mineralization due to the drill rig reaching its depth limitation
150 meter step-out hole confirms that the Goldstorm system is gaining strength to the northeast.
Cardston, Alberta–(Newsfile Corp. – September 23, 2019) – American Creek Resources Ltd.
(TSXV: AMK) (“American Creek”) (“the Corporation”) is pleased to
announce results from JV partner Tudor Gold’s ongoing drill program
being conducted at the Treaty Creek Project located in the Golden
Triangle of NW British Columbia. Tudor today announced results from two
deep vertical diamond drill holes (drilled to a depth of over 1,000m)
and four definition drill holes. All six holes intercepted significant
gold mineralization over wide intervals at the Goldstorm Zone.
Goldstorm Extension
Hole
GS19-47 was drilled as a 150m step-out from hole GS19-42 (reported July
30, 2019 averaging 0.683 g/t Au over 780m) and was drilled vertically
to a total depth of 1,199m, ending in mineralization. The hole
contains strong stockwork with gold-bearing mineralization accompanied
by significant base-metal disseminated sulphide mineralization averaging
0.589 g/t Au over 1081.5mincluding an upper interval of 0.828 g/t Au over 301.5m and a lower interval of 0.930 g/t Au over 207 m.
The hole was stopped in mineralization due to the drill rig reaching
its depth limitation, however, casing was left in the hole for possible
continuation next year.
This 150 meter step-out hole confirms
that the Goldstorm system is gaining strength to the northeast. With
this strongly mineralized intercept, the Goldstorm Zone has been extended by a total of 300m
this year from the best hole drilled in 2018 (CB18-39, averaging 0.981
g/t Au over 563.8m) and has now been traced along strike for over 800
meters.
Goldstorm Definition Drilling
Asecond
deep vertical hole, GS19-48, was drilled to a total depth of 1035m from
the same pad as CB18-39 (drilled in 2018). The results exhibit
excellent continuity of mineralization between holes and this drill hole
returned 0.725 g/t Auover 838.5m, including a near surface interval of 328.5m averaging 1.048 g/t gold Au.
Four
footwall definition holes (GS19-43 to GS19-46) drilled on section
109+00 NE, were successful in extending the width of the mineralized
zone, to the southeast into the footwall of the controlling fault
structure.
Hole GS19-43 returned an average of 0.566 g/t Au over 493.5m;
Hole GS19-44 returned an average of 0.807 g/t Au over 267m including 1.065 g/t Au over 150m;
Hole GS19-45 returned an average of 0.719 g/t Au over 325.5m including 1.000 g/t Au over 173m.
Hole GS19-46 returned an average of 0.510g/t Au over 594m including 0.734 g/t Au over 162m.
Tudor Gold Exploration Manager, Ken Konkin explains:
“Given the success of the two deep drill holes GS19-47 and GS19-48, the
Goldstorm System shows no signs of weakening to the northeast and
several more drill holes will be needed to find the length and depth of
this huge gold system. Hole GS19-47 showed a very strong quartz
stockwork system and was still in gold values at the end of the 1,199
meter drill hole. The bottom of GS19-47 averages 0.930 g/t Au over 207 meters.
This is the first time we’ve seen this strength of gold mineralization
at depth. Furthermore, a strong copper association was encountered with
gold values at depth in both GS19-47 and GS19-48.
A 151.5m zone of 0.22% copper with 0.572 g/t gold was intercepted from 665.0 to 816.5 meters in GS19-47 and a 66.0m zone of 0.35% copper with 0.958 g/t gold was intercepted from 874.5 to 940.5m in GS19-48.
Not
only does the Goldstorm Zone remain open at depth and along strike, we
are now seeing base-metal associations possibly as part of a zonation
within the metal system.”
The following table provides gold composites from the six drill holes completed on three sections that cut the Goldstorm Zone.
Table I: Gold Composites for GS19-48 to GS19-43
SECTION
HOLE ID
FROM (M)
TO (M)
Interval (M)
GOLD (g/t)
114+00NE
GS19-47
117.5
1199
1081.5
0.589
including
200
501.5
301.5
0.828
and
986
1193
207
0.93
111+00 NE
GS19-48
97.5
936
838.5
0.725
including
97.5
426
328.5
1.048
109+00 NE
GS19-43
68
561.5
493.5
0.566
including
141.5
561.5
420
0.605
including
141.5
197
55.5
1.005
GS19-44
101
368
267
0.807
including
125
275
150
1.065
GS19-45
44
369.5
325.5
0.719
including
62
278
216
0.901
including
105
278
173
1.000
GS19-46
34.5
628.5
594
0.51
including
175.5
337.5
162
0.734
including
564
600
36
1.328
* All assay values are uncut and intervals reflect drilled intercept lengths.
* True widths of the mineralization have not been determined
Goldstorm Zone Drill Section 109+00 NE, 111+00 NE and 114+00 NE
Section
114+00 NE is a 300 m step-out on strike from 111+00 NE and hole GS19-47
hosts what is now the longest and deepest gold intercept on the project
to date.
Section 111+00 NE shows the consistency of the upper horizon gold grades between holes and new depth extension in hole GS19-48.
Section 109+00 NE shows four definition holes drilled this season to better outline the extent of the zone to the southeast.
Goldstorm Zone Plan Map
The
Goldstorm Zone now extends more than 800 meters in strike length and
remains open along strike to the Northeast and Southwest as well as to
depth.
Goldstorm zone drill sections and the plan map are included at the bottom of the news release.
The diamond drilling program continues with two drill rigs. Additional results will be announced as they become available.
Walter Storm, Tudor Gold President and CEO, stated:
“I am very pleased to see that all nine holes drilled have reported
very good results and we have not missed on any step-out targets nor any
footwall extension holes, they were all hits. These results have proven
that we have an excellent understanding of the structure, geology and
mineralogy of this massive gold system. I am looking forward to
continuing our exploration efforts in order to unlock the full potential
of this large gold system.”
Darren Blaney, American Creek CEO, stated:
“The anticipation of waiting for this 150 meter step-out hole has now
been rewarded with the largest gold interval drilled to date at the
project. Further, all five other holes have also hit significant gold
over wide intervals. Seeing the strong copper zones now showing up in
drill holes has added yet further potential to the possible extent of
the deposit. Clearly, we have a massive, world-class gold system that
still shows no signs of weakening to the northeast nor at depth. The
drilling continues to show strong correlation with the geophysics which
indicates that the gold mineralization potentially continues for
considerable depth below the bottom of the deepest drill holes.
I
can’t state strongly enough how pleased I am with what Walter, Ken and
the Tudor team have accomplished with the Treaty Creek exploration
program!”
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 this news release for the purposes of National
Instrument 43-101 is Tudor Gold’s Exploration Manager, Ken Konkin,
P.Geo. He has read and approved the scientific and technical information
that forms the basis for the disclosure contained in this news release.
About American Creek
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 and Electrum joint venture projects with Tudor Gold/Walter
Storm as well as the 100% owned past producing Dunwell Mine.
A
major drill program is presently being conducted at Treaty Creek by JV
partner and operator Tudor Gold. There are two drills working on the
Goldstorm zone at present.
The Treaty Creek Project is a Joint
Venture with Tudor Gold owning 60% and acting as operator. American
Creek and Teuton Resources each have 20% interests in the project.
American Creek and Teuton are both fully carried until such time as a
Production Notice is issued, at which time they are required to
contribute their respective 20% share of development costs. Until such
time, Tudor is required to fund all exploration and development costs
while both American Creek and Teuton have “free rides”.
The
Corporation also holds the Gold Hill, Austruck-Bonanza, Ample Goldmax,
Silver Side, and Glitter King properties located in other prospective
areas of the province.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com
Figure 1: Goldstorm Zone Selected Results From Deep Step-out Holes
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.
Posted by AGORACOM
at 9:25 AM on Wednesday, September 11th, 2019
The drilling success at American Creek’s Treaty Creek property in BC’s Golden Triangle is showing the potential to give shareholders the type of return experienced by investors in the neighbouring Seabridge KSM a decade ago. Treaty Creek’s Goldstorm deposit is producing world class results including 563m of 0.98 g/t gold and the most recent hole; a 780 meter intercept of 0.683 g/t gold including a high grade upper portion of 1.095 g/t over 370.5 meters. There are some distinct advantages that the Goldstorm has over the KSM which puts American Creek in a uniquely undervalued position within the area.
3 Critical Factors Highlight Treaty Creek Advantage Over KSM:
Treaty Creek Similarities to KSM:
Part of the same Sulphurets Hydrothermal System that contains a mind boggling 188M oz gold, 1.2B oz silver and 55B lbs of copper (all categories) to date (P&P reserves of 47M oz Au, 214M oz Ag, and 10B lbs Cu)
Same trend – deposits occur about every 2-3 km going north with gold grades increasing as the system extends northward – The Goldstorm zone on Treaty Creek is the most northerly deposit
Same Sulphurets thrust fault which Seabridge states was responsible for the KSM deposits – same type of mineral formation beneath the fault
Same types of world-scale deposits (Porphyry and intrusion related) on both properties
Large deposits are found near the red “discovery line†and the Sulphurets fault
2. Treaty Creek Advantages over KSM:
Better logistics – Treaty Creek is located on “the right side of the mountain†with direct access to power and highway leading to the shipping port
Potentially better grades with initial estimates of 1.25 g/t Au at the Goldstorm / Copper Belle Deposit
Potential open pit design requiring a fraction of the capital cost of KSM with a shorter pay back period
Unlike the KSM which consists of copper deposits with low-grade gold, Goldstorm is a gold deposit and does not rely on the value other metals
At the discovery stage of the mining life-cycle where biggest gains are typically made. AMK offers considerable more shareholder upside with each ounce added compared to KSM.
3. KSM dependence on Treaty Creek:
KSM is dependent on twin 22.8km tunnels (MTT), of which 12.2km lies within the Treaty Creek mineral tenures, to get KSM ore to a proposed processing facility and tailings pond
The proposed route for the MTT runs through Treaty Creek in the same general location as the following:
The Kyba Discovery Line – a major geological marker for large deposits
The Sulphurets thrust fault – a major geological marker for large deposits
Geoclastic sequencing – a major geological marker for large deposits
Magnetotelluric anomalies indicating potential large mineral deposits
Magnetic anomalies indicating potential large mineral deposits
American Creek has already increased close to 300% since spring and yet only the initial results from the Goldstorm have come out. Based on the geology, geophysics, and results so far it looks as though things have just started for the company. A major drill program is presently being conducted at Treaty Creek by JV partner and operator Tudor Gold. There are now two drills working on the Goldstorm zone with the objective of defining a significant maiden gold resource. The last hole reported included a 780 meter intercept of 0.683 g/t gold including a higher grade upper portion of 1.095 g/t over 370.5 meters. The Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and acting as operator, with American Creek holding a 20% interest in the project. American Creek is fully carried until such time as a Production Notice is issued. Until such time, Tudor is required to fund all exploration and development costs while American Creek has a “free rideâ€.
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
Hub on Agoracom FULL DISCLOSURE: American Creek is an advertising client of AGORA Internet Relations Corp.
Posted by AGORACOM
at 1:21 PM on Friday, August 23rd, 2019
SPONSOR: American Creek Resources (TSX-V: AMK) owns a 20% Carried Interest to Production at the Treaty Creek Project in the Golden Triangle. 2019’s first hole averaged of 0.683 g/t Au over 780m in a vertical intercept. The Treaty Creek property is located in the same hydrothermal system as Pretivm’s Brucejack and Seabridge’s KSM deposits. Click Here for More Info
After spending three years in a $250 trading range (between $1,121
and $1,375), spot gold has erupted since late May and is up 18.01% YTD
as of last Friday’s (8/15) close at $1,523.34. At the same time, gold
mining equities, as measured by Sprott Gold Miners ETF (SGDM) are up
39.52% YTD.
To us, the operative questions are:
1) What factors ignited gold’s breakout from a three-year consolidation? 2) Are these fundamentals likely to persist in future periods?
We offer the following answers. Gold is clearly responding to a
global pivot by central bankers back towards concerted monetary easing,
and the intractable nature of excessive global debt levels suggests we
are in the very early innings of the developing easing cycle. In short,
for gold this is the real deal and we suspect things are just getting
started.
…for gold, this is the real deal and things are just getting started.
At Sprott, our investment thesis for gold rests largely on the
unsustainable nature of global debt levels. While investor consensus
recognizes that debt levels are a daunting structural dilemma, the
inability to predict either timing or method of inevitable resolution
has long relegated debt concerns to the back burner of investor
priorities.
In this post, we develop the possibility that global asset markets
may finally have reached the point at which excessive debt levels are
overwhelming longstanding relationships in normally functioning capital
markets such as interest rates, time preferences and capital formation.
Named after Austrian economist Hyman Minsky, the global economy in 2019
may be entering a “Minsky Moment,†at which the cumulative distortions
of a long period of debt-fueled growth are finally coming to bear.
Interest Rates Cannot Rise
Throughout 2018, we made the case that outstanding debt levels
precluded the possibility of rising interest rates (long or short)
without inflicting severe pressure on reigning financial asset
valuations. On the short side of the ledger, we warned that the Fed’s
dual policy agenda of simultaneous rate hikes and balance sheet
reduction was far too aggressive in the context of still egregious U.S.
debt levels. Contrary to popular perceptions of U.S. deleveraging since
the financial crisis, the Fed’s Q1 2019 Z.1 Report disclosed that total
U.S. credit market debt now stands at $73.1 trillion, up 33%
from Q1 2009. Importantly, as shown in Figure 1, the U.S. debt-to-GDP
(gross domestic product) ratio still measures a bloated 347%, not far
from its Q2 2009 peak of 382%.
The prior century of U.S. financial history suggests healthy capital
formation in the U.S. economy hinges on reducing the debt-to-GDP ratio
to roughly half its current level. Of course, this would require either
extinguishment of roughly $30 trillion in debt without impacting GDP, or
doubling GDP without incurring an incremental dollar of debt, both
exceedingly remote possibilities. Remaining options are debt default or
debasement, and we are certain global financial stewards will do
everything in their power to choose the latter over the former.
Figure 1. The Ratio of Total U.S. Credit Market Debt-to-GDP (1916-Q1 2019)
Source: BEA; Federal Reserve.
To us, the Fed’s eight years of zero interest rates and QE
(quantitative easing) asset purchases served as tacit admission that the
U.S. financial system requires artificial liquidity to forestall the
devastating debt rationalization inherent in rebalancing paper claims
(debt) to underlying productive output (GDP). Indeed, the serendipitous
and largely unquestioned evolution of the Fed’s congressional mandate
from “stable prices†to a self-appointed “2% inflation target†serves as
proof-positive that the Fed’s paramount concern is avoiding debt deflation at all costs.
Given the awkward messaging in maintaining rates at the zero bound,
we are not surprised that the Fed began the process of “normalizing†the
fed funds rate back in December 2015. After three full years, the
Powell Fed notched in December 2018 the Federal Open Market Committee’s
(FOMC’s) ninth rate hike, to a 2.5% upper bound. In all honesty, we did
not expect that the U.S. financial system could sustain a 2.5% fed funds
rate without significant dislocation of asset prices. Low and behold,
financial turbulence arrived with a vengeance in Q4 2018, when the
S&P 500 shed a startling 19.63% between Chair Powell’s October 3
“long way from neutral†comment and Treasury Secretary Mnuchin’s
convening of the President’s Working Group on Financial Markets on
Christmas Eve.
A precis of Fed behavior since the 2018 Christmas Eve miracle of
reversing asset markets would best be characterized as one of the
sharpest Fed policy U-turns on record. Short-circuiting months of debate
over whether the Fed’s January 2019 tonal change merely represented a
“pause†in an ongoing tightening cycle, the FOMC cut the fed funds rate
25 basis points on 7/31/19. After declaring in December that the Fed’s
balance sheet reduction program was “on autopilot,†“working well†and
“not subject to review,†Chair Powell shuttered the program completely on
7/31/19. Needless to say, we can only smile at Chair Powell’s seemingly
earnest assertion that the Fed’s 7/31 rate cut was a “mid-cycle
adjustment†and “not the beginning of a long series of rate cuts.†Mark
our words, just as with early 2019 arguments for a “pause in the Fed’s
tightening cycle,†current prognostications for a “one and done
insurance cut†belie shallow understanding of what is truly troubling
the Fed.
A quick survey of economic conditions, in fact, is hardly supportive
of a Fed rate cut. Q2 GDP measured 2.1%, with personal consumption
leaping at a 4.3% annual rate (fifth strongest quarter during the past
13 years). The 3.7% unemployment rate rests at a five-decade low and
U.S. equity averages were setting fresh all-time highs in late-July.
Come to think of it, when did “sustaining the expansion†even become a consideration in
the Fed’s congressional mandate? (Answer: gross mission creep.) To us,
it is patently clear that despite respectable output growth, full
employment and record financial asset valuations, the Fed now believes
it has strayed too far from the zero bound to guarantee against incipient debt deflation. Consequently, we expect fed funds to retreat toward the 1% level and beyond in very short order.
Negative Interest Rates
On the long end of the rate spectrum, we have maintained that excessive debt levels absolutely mandate
ever-declining interest rates. We have repeatedly cited Stephanie
Pomboy’s annotated graphic of 10-year U.S. Treasury yields (Figure 2).
On every occasion since 1981 when 10-year Treasury yields have backed up
significantly, a financial crisis has invariably ensued. Therefore, we
are always amazed when consensus begins to project rising Treasury
yields without repercussions, such as during the fall of 2018, when
consensus extrapolated Chair Powell’s hawkish resolve all the way to a
sustainable breakout in Treasury yields. Very simply, if rates have been
unable to rise for 37 years without catalyzing financial distress, why
do investors EVER conclude they might
magically be free to rise in the future, especially since aggregate debt
measures only continue to deteriorate?
Figure 2. 10-Year Treasury Yields with Financial Crises Annotated (1975-8/7/19)
Source: MacroMavens.
Boiling things down, we view gold’s prospects as inextricably linked
to consensus recognition that global interest rates not only cannot rise, but must continue to decline to keep the ever-burgeoning debt pyramid from toppling.
Along these lines, we attribute gold’s accelerating performance since
October 2018 to broadening recognition that global rate structures are
once again crashing through the zero bound. As shown in Figure 3, the
global total of negative yielding sovereign credit has literally
skyrocketed in recent weeks to a mind-numbing $16.7 trillion as of
8/15/19. For perspective, this total represents a rough triple from the
$5.7 trillion total as recently as October 2018. And it goes without
saying, this total is quite the departure from the absolute zero
total for negative-yielding bonds during the 5,000 years of financial
history prior to 2015 (thank you Bank of Japan for the clever
innovation).
Figure 3. Aggregate Total of Negative-Yielding Sovereign Debt (2015-8/15/19)
Source: MeridianMacro.
Perhaps inured by lofty equity averages, general
investor consensus remains relatively unconcerned by the global
explosion in negative-yielding debt instruments. Especially for U.S.
investors, there is a pervasive sense that ramifications of negative
rate structures are just “not our problem.†Sidestepping for the time
being the profound implications of negative rates for capitalism itself,
we wanted to provide a bit more detail on the composition of the
oft-cited negative-yielding sovereign debt total.
In Figure 4, we have compiled. what we believe to be a comprehensive
snapshot of global rate structures as of the close of trading on
8/15/19. We were amazed to discover that the entire yield curve for six
EU countries now trades at negative yields (Switzerland, Germany,
Netherlands, Finland, Sweden and Denmark). French and Austrian curves
are negative through 20 years; Japan and Belgium are negative through 15
years; and Ireland, Slovakia and Slovenia are negative through 10
years. Indeed, we were only able to identify three developed economies
with entirely positive rate curves: United States, United Kingdom and
Canada.
Figure 4. Sovereign Rate Structures for Selected Countries (8/15/19)
Source: http://sprott.com/insights/minsky-moment/
We have no special insight into the impact of negative interest rates
on future valuations for traditional asset classes such as stocks,
bonds and real estate. But as we stated earlier on, we believe that for
gold this is the real deal and we suspect things are just getting
started.
Posted by AGORACOM
at 9:26 AM on Monday, August 12th, 2019
Initiated 2000m Drill Program on 100% owned Dunwell Mine project
Located in the heart of the Golden Triangle a few kilometers outside of Stewart, BC
Dunwell has multiple bonanza grade vein systems found scattered over several kilometers around the mine itself.
Cardston, Alberta–(Newsfile Corp. – August 12, 2019) – American Creek Resources Ltd.
(TSXV: AMK) (“the Company”) is pleased to announce that a drill has
been mobilized to the Dunwell Mine project and drilling has now
commenced. As part of an overall exploration program it is anticipated
that Phase I will include up to 2,000 meters of drilling on several
targets.
The 100% owned Dunwell Mine project is located in the heart of the Golden Triangle a few kilometers outside of Stewart, BC.
Darren Blaney, CEO and President stated: “We are very excited to
begin drilling on this project. We have had our eye on this property
since 2006 and now we finally get to start showing the market what we
have. The Dunwell is an incredibly prospective property and has
everything going for it from amazing access and logistics to multiple
areas with past high grade production. All indications are that these
multiple bonanza grade vein systems found scattered over several
kilometers around the Dunwell mine itself are all related and form part
of a much larger system underlying the property.”
Property Description and History
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 best gold and silver mineral occurrences and
historic workings in the Bear River valley. The amalgamated property
spans 1,655 hectares covering the northern portion 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.
The property is located 8 km northeast of Stewart with a road right
to the mine site and a major highway and power line also running through
the property. The Dunwell Mine adit itself is located only 2 km from
Highway 37A and the power transmission line. Stewart hosts a deep sea
port including modern ore loading and shipping facilities.
Unlike the majority of mineral properties located near Stewart and
within the Golden Triangle, the Dunwell is relatively moderate and at
low elevation (600m and lower). These features allow for year-round work
which typically isn’t the case for exploration programs conducted in
the Stewart region where projects are typically at higher altitude in
very rugged terrain, are accessible only by helicopter, and lack
critical infrastructure such as roads and power. The Dunwell project may
just have the best logistics of any project in the Golden Triangle.
Although there has been a substantive amount of small-scale historic
work (pre-1940) in this area given its close proximity to Stewart, very
fractured ownership of individual mineral claims greatly hampered
meaningful larger scale exploration resulting in very little modern
exploration being conducted on the property or in the immediate region.
The Dunwell Mine is the most significant mineral occurrence within
the Portland Canal Fissure Zone. Production at the Dunwell occurred
between 1926 and 1937. From historic reports, it appears that a total of
45,657 tons averaging 6.63 g/t gold, 223.91 g/t silver, 1.83% lead,
2.43% zinc and 0.026% copper (approximately 11.3 g/t gold equivalent)
were produced. In one such report (#23345 summary report) the Dunwell
shows initial production of 4,872 oz gold, 102,855 oz silver, 1.2M lbs
lead, and 1.64M lbs zinc from 27,067 tons of ore milled. A further
23,231 tons was milled in 1941 yielding 4,878 oz gold, 233,017 oz
silver, 511,082 lbs lead, and 789,854 lbs zinc.
Strong potential exists to develop more reserves along strike with
the present workings and at depth below the No. 4 level. A drill program
conducted by prior owners in 2010 revealed a zone at least 300 metres
long and 200 metres along dip with a true thickness of 6-7 meters,
suggesting an extension of the ore body vein system previously mined.
Eight holes drilled 150 meters underneath and to the north of the old
underground workings resulted in the discovery of a wide quartz breccia
zone with strong sphalerite, galena, pyrite and chalcopyrite. Due to
unfavorable market conditions at the time, the work was never followed
up on. Significant reported results from the 2010 drilling are displayed
in the table below:
Hole
From (m)
To (m)
Length
Au g/t
Ag g/t
Pb %
Zn %
Cu %
D4-10-09
215.55
222.26
6.71
14.27
37.81
0.25
0.63
0.02
D4-10-10
216.77
221.95
5.18
5.31
62.4
0.52
0.80
0.03
D4-10-11
217.07
222.93
5.85
4.74
55.88
0.09
0.72
0.02
D4-10-12
218.35
225
6.64
7.68
37.40
0.330
0.90
0.02
D4-10-15
208.84
213.14
4.3
15.62
42.0
0.04
0.40
1.44
The 2019 Phase I drill program is designed to confirm the promising results from the 2010 drilling and also to expand the known extent of the vein system with step out holes. Drill hole D4-2010-09 returned an impressive 14.27 g/t gold over 6.7 meters and along with similar results in adjacent holes, partially delineated a new high-grade vein system. The first hole to be drilled in the 2019 program will be located in close proximity to D4-2010-09. A series of holes will then be drilled to extend the known extent of this new vein system.
James McCrea, P. Geo for the Dunwell project, commented: “The
historic Dunwell Mine workings straddle a large shear zone that is
interpreted to be part of the Portland Canal Fissure Zone. The shear has
a surface expression of up to 3 km with a series of known vein
showings, along the shear, north and south of the Dunwell, that have an
extent of 2 km. The potential for further discoveries exists adjacent to
the shear in the area of the Dunwell Mine.”
In addition to the past producing Dunwell Mine itself, the property
package also contains other high-grade gold and silver occurrences and
historic small-scale gold/silver high-grading operations along a several
kilometer north/south trend that correlates to the fissure zone and
major faulting. A search of old reports produced an impressive number of
such occurrences on the property. The reported grades are even more
impressive. Some of these include the following:
Ben Ali: 5,000 tons yielding 3,000 ounces gold. 4,500 tons at 21.6 g/t gold.
Tyee (Mother Lode): Produced 8.2 ton of ore grading 124.4 g/t gold and 4,478.8 g/t silver.
Mayflower: produced a few tons of ore running about $60 a ton
in gold values (1918 values). An adit sample assayed 78.2 g/t gold and
1,961.2 g/t silver.
Silver Ledge: Quartz veins with up to 0.36 ounces per ton gold, 5.04 ounces per ton silver, 5.4% lead and 0.65% zinc.
Goldie: Historic grab sample from 2 tons of galena assayed 2,880 g/t silver and 80% lead.
Victoria (Main Reef): Two separate numbers reported; perhaps
an initial 6 tons of 20.6 g/t gold, 1028.6 g/t silver, 35% lead, and 10%
zinc ore was shipped, later totaling 11 tons grading 20.15 g/t gold,
775 g/t silver, 25% lead, and 5% zinc.
Mimico: Historic grab samples of galena have assayed up to 5,345 g/t silver and 87.2% lead.
For a summary about the Dunwell Mine project please click here: Dunwell Summary
Qualified Person
The Qualified Person directing the Dunwell exploration program is
James A. McCrea, P. Geo., for the purposes of National Instrument
43-101. 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.
In addition to the 100% owned Dunwell project, the portfolio includes
two other gold/silver projects located in the heart of the Golden
Triangle; the Treaty Creek and Electrum joint ventures with Walter
Storm/Tudor Gold.
A major drill program is presently being conducted at Treaty Creek by
JV partner and operator Tudor Gold. There are now two drills working on
the Goldstorm zone with the objective of defining a significant maiden
gold resource. The last hole reported included a 780 meter intercept of 0.683 g/t gold including a higher grade upper portion of 1.095 g/t over 370.5 meters.
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 10:13 AM on Thursday, August 1st, 2019
American Creek owns a 20% Carried Interest to Production at Treaty Creek.
Intersect included a high grade portion of 1.095g/t gold over 370m
Broad intercept an indication of a deep system at Goldstorm Zone
Located on trend and 5 km Northeast of Seabridge’s KSM deposits
Goldstorm system increases in grade as it trends Northeast
Eric Sprott recently placed 1$M strategic investment with AMK
If you have not yet read the 2019 REPORT ON TREATY CREEK (potential world-class deposit in B.C.’s GOLDEN TRIANGE) click on the image for the fullreport.
Hub on Agoracom FULL DISCLOSURE: American Creek is an advertising client of AGORA Internet Relations Corp.
Posted by AGORACOM
at 10:00 AM on Wednesday, July 31st, 2019
Sponsor: American Creek Resources (TSX-V: AMK) American Creek owns a 20% Carried Interest to Production at the Treaty Creek Project in the Golden Triangle. 2019’s first hole averaged of 0.683 g/t Au over 780m in a vertical intercept. The Treaty Creek property is located in the same hydrothermal system as the Pretivm and Seabridge’s KSM deposits.
Sprott sold 3.3 million shares of Kirkland stock for C$168m
Deployed C$139m on 16 gold and silver explorers since May
Includes $4M in Tudor Gold and most recently 1$M in American Creek for Treaty Creek Exposure at Goldstorm
Eric Sprott is responsible for nearly a quarter of the money flowing into junior mining since May, says Oreninc. Image from archives.
The gold price has now been camped out above $1,400 an ounce for a month, and silver has finally come alive above $16 per ounce, but legendary mining financier Eric Sprott had already kicked off a major junior investment spree when the metals were significantly cheaper than they are today.
The Canadian billionaire investor – also a pioneer in the gold-backed
ETF industry – has splashed more than C$139 million on 16 gold and
silver explorers (and some nickel on the side) since May, according to
junior mining finance authority Oreninc. $127m of the total found its way to Canada-domiciled companies.
Sprott uses a company called 2176423 Ontario to play the space and
was able to flash the cash thanks in part to a divestment from Kirkland
Lake Gold, (TSX:KL) (NYSE:KL) where he was chairman until recently.
Sprott, has sold some 3.3 million shares of Kirkland stock for C$168
million, reducing his position from 10% to 8% according to Oreninc data.
Kirkland Lake has been on a roll, doubling its share price in under a
year.
Kirkland Lake output could reach 1 million ounces for the first time this year, driven by record production at its flagship Fosterville mine in Australia. Fosterville is the lowest cost gold mine in the world, extracting the metal for a mere $313 an ounce all-in this year.
Posted by AGORACOM
at 8:49 PM on Monday, July 29th, 2019
Eric Sprott enters strategic Investment with AMK for 20 Million Shares
Mr. Sprott has agreed to sign a voting agreement in which he will vote with management in the event of a hostile takeover bid
Will also vote with management if management agrees to accept a takeover bid.
Cardston, Alberta–(Newsfile Corp. – July 29, 2019) – American Creek Resources Ltd.
(TSXV: AMK) (“the Corporation”) (“American Creek”) today announced that
it intends to complete a non-brokered private placement with Eric
Sprott’s private company, 2176423 Ontario Ltd. consisting of the
issuance of 20,000,000 units (“Units”) at a price of $0.05 per Unit for
proceeds of $1,000,000.
Each Unit will consist of one common share
of the Corporation (“Common Share”) and one non-transferrable Common
Share purchase warrant (“Warrant”). Each Warrant may be exercised for
one additional Common Share at a price of $0.065 for a period of 24
months from the closing date of the Offering. The Warrants will be
subject to an acceleration provision which provides that in the event
that the market closing price of the Corporation’s shares exceeds $0.12
for 30 consecutive days, the Corporation may within 5 days after such an
event, provide notice to the Warrant holder of early expiry and
thereafter, the Warrants will expire on the date which is 15 days after
the date of the notice to the Warrant holder.
As part of this
financing and the issuing of the Units, Mr. Sprott has agreed to sign a
voting agreement in which he will vote with management in the event of a
hostile takeover bid, and to also vote with management if management
agrees to accept a takeover bid.
Darren Blaney, President &
CEO of American Creek, stated: “We welcome Mr. Sprott’s involvement and
significant contribution. This is an endorsement of not only the
potential of the Treaty Creek project but also of our other projects
we’ve been able to successfully acquire. With Mr. Sprott’s support and
with market conditions improving, we very much look forward to working
together to advance these projects and create additional value for our
shareholders.”
The securities are offered to qualified
purchasers in reliance upon exemptions from prospectus and registration
requirements of applicable securities legislation. No finder’s fees will
be paid related to this financing.
Proceeds will be used for
general operating purposes including settling current debt and advancing
the Corporation’s portfolio of mineral properties.
This private placement is subject to approval by the TSX Venture Exchange.
About American Creek
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 and Electrum joint venture projects with Tudor Gold/Walter
Storm as well as the 100% owned past producing Dunwell Mine.
The
Treaty Creek Project is a Joint Venture with Tudor Gold owning 60% and
acting as operator. American Creek and Teuton Resources each have 20%
interests in the project. American Creek and Teuton are both fully
carried until such time as a Production Notice is issued, at which time
they are required to contribute their respective 20% share of
development costs. Until such time, Tudor is required to fund all
exploration and development costs while both American Creek and Teuton
have “free rides”.
Tudor is presently conducting a major drill
program at Treaty Creek with the objective being to define a significant
gold resource.
The Corporation also holds the Gold Hill,
Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King
properties located in other prospective areas of the province.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. 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.
Posted by AGORACOM
at 9:33 AM on Friday, July 26th, 2019
Cardston, Alberta–(Newsfile Corp. – July 26, 2019) – American Creek Resources Ltd.
(TSXV: AMK) (“the Company”) (“American Creek”) today announced that it
will be offering on a non-brokered private placement basis (“the
Offering”) up to 6,000,000 units (“Units”) at a price of $0.05 per Unit
for proceeds of $300,000 if the Offering is fully subscribed. Each Unit
will consist of one common share of the Corporation (“Common Share”) and
one non-transferrable Common Share purchase warrant (“Warrant”). Each
Warrant may be exercised for one additional Common Share at a price of
$0.06 for a period of 24 months from the closing date of the Offering.
The securities will be offered to qualified purchasers in reliance
upon exemptions from prospectus and registration requirements of
applicable securities legislation. A Finder’s Fee of 5% may be paid
associated with this financing.
Proceeds will be used for general operating purposes including the advancement of key assets in BC’s Golden Triangle.
This private placement is subject to approval by the TSX Venture Exchange.
American Creek Resources “CEO Verified” Discussion Forum on
AGORACOM to act as Primary Investor Social Media and Online Marketing
Platform
The Company is also pleased to announce the launch of a “CEO
Verified” Discussion Forum on AGORACOM. The forum will serve as the
Company’s primary social media platform to interact with both
shareholders and the broader investment community in a fully moderated
environment.
AGORACOM “CEO Verified” provides the first ever identity verification
of small cap executives on a finance platform, which will provide
American Creek Resources executives and shareholders with a trusted
online forum. There are no log-in requirements for investors to visit
the forum and read posts. Those wishing to post questions, comments and
interact with both company officers and other shareholders can quickly
log-in using their Facebook or LinkedIn accounts, or create an anonymous
new user account.
Darren Blaney, President and CEO Rob Edwards, CFO Kelvin Burton, Investor Relations
Darren Blaney, President and CEO stated, “Social media participation
is very important for growth companies such as ours and AGORACOM forums
are purpose built to facilitate intelligent discussion without the
nonsense that plagues other such sites. I encourage everyone to read and
participate in our CEO Verified Discussion Forum to create great,
vibrant and constructive interaction for the long term benefit of
everyone. “
George Tsiolis, AGORACOM Founder stated “Given the state of affairs
in the red hot Golden Triangle, American Creek executives will have a
lot to say and their shareholders are going to have a lot of questions
in the coming months. This CEO Verified Discussion Forum will provide a
home for trusted information, full transparency and civilized 24/7/365
interaction.”
In addition to the CEO Verified Forum, the Company will also receive
significant exposure through millions of content brand insertions on the
AGORACOM network, extensive search engine marketing and social media
engagement targeting the Golden Triangle over the next 12 months.
Sponsorships of digital properties such as AGORACOM TV, the AGORACOM home page and the AGORACOM Twitter account will serve to significantly raise the brand awareness of American Creek amongst small cap investors.
About AGORACOM
AGORACOM achieved a major milestone on February 28, 2019 surpassing
600 Million-page views (90% AGORACOM / 10% Twitter) from 7.7 Million
investors that visited 55.2 Million times. These milestones continue to
demonstrate that AGORACOM is the primary home for serious small cap
investors that want to discover their next great small cap company.
Shares for Services
The Company intends to issue common shares in the capital of the
Company (the “Common Shares”) to AGORA in exchange for the Services.
Pursuant to the terms of the Agreement, the Company will be issuing a
total fee of $45,000 (plus GST) in instalments over the next 12 months.
The number of Common Shares to be issued at the end of each period
will be determined by using the closing price of the Common Shares of
the Company on the Toronto Venture Exchange on the first trading day
following the end of each period for which the Services were provided by
AGORA.
The term of the Agreement is for 12 months effective July 15, 2019 and the agreement is subject to Exchange approval.
Image of mineralized zones on Treaty Creek located adjacent to Seabridge Gold’s KSM deposits.
With Eric Sprott’s latest $3,000,000 investment announced on Friday
he has now personally invested $4.5 million into the Treaty Creek Joint
Venture through its operator and 60% owner Tudor Gold. In a podcast
(also on Friday) Eric enthusiastically described the potential of the
Treaty Creek project when he made statements like:
“It’s drilling a monster play just like the GT Gold play”
“The last hole they announced, which was last year, was 563 meters of
1.08 gold.”
“It’s in the perfect logistical place to develop it. The
market cap of the company (Tudor) is like under $50 million and yet what
we’re shooting for is to define a 10 or 20-million-ounce discovery, so
you’re paying nothing for this discovery.”
“So that’s the sort of play that I like where man, if the
price of gold goes to $1,700 or $2,000 these plays will look so
economically viable and the stock will go up so much, and the analogy I
use is Seabridge back in 2000. I remember buying it at a dollar…and
Seabridge went from $1 to $35 dollars! That is what we are looking for –
a dollar to $35 dollars, set you up for life!”
American Creek Resources has a fully carried 20% interest (1/3 of
Tudors 60% interest) in the Treaty Creek Joint Venture and has a “free
ride” with no associated exploration/development costs until such time
as a production notice is given. This puts American Creek shareholders
in an extremely favorable leveraged position, especially considering the
other exceptional properties it owns including two more in BC’s Golden
Triangle. American Creek is presently valued at, and is trading at less
than 1/3 of Tudor’s present value (Treaty Creek being Tudor’s focus and
flagship property), offering an even more leveraged opportunity at the
moment.
The Goldstorm zone at Treaty Creek has the potential to be a world
class gold deposit with lower costs and far better logistics than
Seabridges’ adjacent KSM. According to Sprott, Seabridge set a lot of
people up for life and the opportunity for something similar by “paying
nothing for the discovery” is right here, right now.
Click the link below for the Sprott podcast. Tudor/Treaty Creek are
discussed beginning at about the 10:07 mark….but we suggest you listen
to the whole thing as Eric describes the present gold/silver market in
general.
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 and Electrum joint venture projects with Tudor
Gold/Walter Storm as well as 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.
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