- Identified new high-priority exploration target for 2018 on the Treaty Creek Property
- Recent news from Seabridge Gold prompted Tudor to schedule the Sulphurets Thrust Fault Convergence Area as a priority exploration target
Cardston, Alberta–(March 2, 2018) – American Creek Resources Ltd. (TSXV: AMK) (the “Corporation”) is pleased to announce that JV partner Tudor Gold (“Tudor”) has identified a new high-priority exploration target for 2018 on the Treaty Creek Property. Recent news from Seabridge Gold on the improving gold grades and growing size of their Iron Cap Deep discovery, combined with data from Tudor’s EM, Mag & MT geophysical surveys, has prompted Tudor to schedule the Sulphurets Thrust Fault Convergence Area as a priority exploration target for 2018.
Proposed Exploration Plans for 2018
Copper Belle Zone
The Copper Belle zone will remain a top priority as Tudor continues step-out drilling to the NE where gold grades over long intercepts have been improving. This drilling will provide the geo-data required to build out Tudor’s preliminary resource estimate.
GR2 (including HC & RR), Orpiment, Konkin and AW Zones
Field geologists will continue surface exploration on these secondary targets with mapping, sampling and geochem analysis of the Konkin zone with 1.2m of 870 g/t gold, and the AW zone where float specimens ran up to 255 g/t gold. The Konkin and AW zones are located between the Copper Belle, Iron Cap and Sulphurets Dome. Detailed plans will be announced once finalized.
Sulphurets Thrust Fault Convergence Area
A prominent EM anomaly is located on the northeast side of the Sulphurets Dome between the Brucejack, Sulphurets and Iron Cap thrust faults. The 23 km Sulphurets Fault hosts the Kerr, Deep Kerr, Sulphurets, Mitchell, Snowfields, Iron Cap and Iron Cap Deep deposits. The Brucejack Fault hosts Pretium’s Valley of the Kings Mine and converges with the Sulphurets Thrust Fault inside the Treaty Creek Property.
Below, is a B.C. government map with ‘fault overlay’ that clearly shows the numerous faults in the Sulphurets Convergence Area. This is part of the Sulphurets Hydrothermal System which is considered to be one of the seven largest in the world, hosting one of the greatest concentrations of metal value on the planet: including the largest undeveloped gold/copper deposits (Seabridge’s KSM/Iron Cap) in the world by reserves containing 38.8 million ounces gold and 10.2 billion lbs copper. The northern half of this Sulphurets Hydrothermal System is inside the Treaty Creek Property. The geology, geophysics, fault systems and Jurassic/Triassic contact support the potential for additional discoveries within this hydrothermal system as stated in independent reports by respected geologists: Alldrick, 1988; Sillitoe, 2010; Savell, 2012; Kruchkowski, 2014; Alldrick, 2014; Nelson/Kyba, 2014.
Measured as a linear surface track, 52% of the thrust faults comprising the Sulphurets Hydrothermal System are within the Treaty Creek boundary as shown by the converging fault systems in the map below. The Sulphurets Thrust Fault in this area also divides the Triassic Stuhini rock group from the Jurassic Hazelton rock group (southeast side of the fault). This Triassic/Jurassic contact is also known as the Kyba Red Line, based on the seminal government research report co-authored by JoAnne Nelson and Jeff Kyba in 2014.
BC Government Mineral Titles Map with Geological Fault Overlay
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/682/33243_image1.jpg
On the map below, in the lower left hand corner, you can see an anomaly that is cut-off at the limits of the EM survey adjacent to Seabridge’s Iron Cap Deep high-grade gold deposit. A similar anomaly is located at the right-center of the map northeast side of the Sulphurets Dome.
The exploration concept Tudor is working on for the Sulphurets Dome area is based on the following observations:
- mineralization is associated with the Sulphurets Fault hanging wall
- deposit discovery potential will continue along Sulphurets Fault
- the Sulphurets Fault is coincident to the Kyba Red Line
- mineralization grade is improving as the Sulphurets Fault moves towards Treaty Creek: “Drilling at Iron Cap confirms major extension of deposit with some of the best grades to date at KSM” (Seabridge Gold news release November 9, 2017)
EM Geophysical Survey of Sulphurets Thrust Faults
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/682/33243_image2.jpg
Walter Storm, President and CEO, stated: “We congratulate Seabridge on their successful drill campaign at the Iron Cap Deep deposit. The Iron Cap drill results, the continuation of the Sulphurets Thrust Fault into Treaty Creek, our EM, Mag and MT geophysical surveys, our extensive geo-database, as well as our growing experience at Treaty Creek are the key components of modern exploration that produce new discoveries.”
AMERICAN CREEK AND TUDOR AT PDAC 2018
American Creek will be exhibiting in booth #2351 at PDAC 2018 which gets underway on March 4, 2018.
Tudor will have booth #3346.
All shareholders and other interested parties who are able to attend are invited to stop by and say hello! We look forward to talking with you.
Qualified Person
The Qualified Person for the analytical information in this new release 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 of the disclosure contained in this news release.
Background on the Treaty Creek Project
The Treaty Creek Project is situated immediately north of Seabridge Gold’s KSM property located in BC’s Golden Triangle along the Sulphurets and Brucejack fault systems that continue northward into the Treaty Creek property.
Tudor conducted a very successful major drill program (approximately 20,000 metres) on the Treaty Creek property this past summer. The objective of the program was to define a gold resource on the Copper Belle zone and to determine the future potential of the high grade gold/silver/zinc GR2 zone located in a separate area adjacent to the Copper Belle. A preliminary resource estimate on the Copper Belle zone is now being calculated and will be released once completed.
The Treaty Creek Project is a joint venture between Tudor, Teuton Resources Corp., and American Creek. Tudor is the operator and holds a 60% interest with both American Creek and Teuton each holding respective 20% carried interests in the property (fully carried until a production notice is given).
A summary of the Treaty Creek Project can be viewed here:
http://www.americancreek.com/images/pdf/Treaty_Creek_Joint_Venture_Project.pdf
About American Creek
American Creek holds a strong portfolio of gold and silver properties in British Columbia. The portfolio includes three gold/silver properties in the heart of the Golden Triangle; the Treaty Creek and Electrum joint ventures with Walter Storm/Tudor, as well as the recently acquired 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.
Cautionary Statements regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and geological merits of the Treaty Creek Project and other future plans, objectives or expectations of the Corporation are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from the Corporation’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
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.
