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American Creek Resources Ltd

Publié le 12 janvier 2010

Treaty Creek discovery hole runs 241 metres of 0.80 g/t gold

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TREATY CREEK DISCOVERY HOLE RUNS

241 METRES OF 0.80 g/t GOLD


January 12, 2010

American Creek Resources Ltd. (�American Creek�) (TSX-V: AMK) and Teuton Resources Corp. (�Teuton�) (TSX-V: TUO) are pleased to release the final batch of assay results comprising 18 of 32 holes from the 2009 drill program conducted at the Treaty Creek Project located in northwestern British Columbia.
 

A promising new gold discovery was made on the Copper Belle: Hole CB-14, the most northwesterly hole drilled on this zone to date, ran 241 metres of 0.80 g/t gold and ended in mineralization. The table below summarizes data for this hole:


Drill Hole
From (m)
To (m)
Interval (m)
Gold (g/t)
CB-14
114.00
355.70
241.7
0.80
including
114.00
158.00
44.00
0.56
including
193.85
248.00
54.15
1.44
including
262.00
355.70
93.7
0.89
Note: true widths are unknown at this time


 

 

Hole CB-14 is the longest interval of gold drilled to date at Treaty Creek and compares favourably with holes reported by both Seabridge Gold Inc. (SEA:TSX, SA:NYSE) and Silver Standard Resources Ltd. (TSX:SSO, NASDAQ:SSRI) at their KSM and Snowfield properties, respectively, located immediately to the south of Treaty Creek. Seabridge reported on January 11, 2010 that the KSM�s Mitchell zone now ranks as the largest gold deposit ever found in Canada with 33.7 million ounces of measured and indicated gold resources. The reported average gold grade for the Mitchell, the largest of Seabridge�s three deposits making up the KSM, is 0.60 g/t. Hole CB-14�s gold grade, by comparison, is 0.80 g/t. While not a true comparison, this provides a context for the hole.

Commenting on the discovery, Mr. Cremonese, P.Eng., President of Teuton Resources Corp., said: �This is truly an outstanding hole. It puts Teuton and American Creek on the threshold of defining a gold resource at Treaty Creek. We now know we have a gold deposit, it just remains to determine the size.� Mr. Cremonese further commented: �Just three years ago Seabridge Gold drilled the first 8 holes at the Mitchell deposit and they averaged 267m in length and 0.79 g/t gold. Our discovery hole is in the same league. We look forward to re-drilling this hole to its ultimate depth later this year as well as many holes around it to establish a resource at the Copper Belle�.
 

Mr. Darren Blaney, Chief Operating Officer of American Creek stated: �The drilling on Treaty just gets better and better. This latest discovery hole on the Copper Belle zone combined with the earlier VMS discovery on the GR2 really bodes well for the future of the project. We are starting to unlock the geological potential at Treaty and are looking forward to future drilling in 2010.�

 

In addition to the wide interval of gold discovered in hole CB-14, hole CB-16 also intersected similar grades with 49.2 metres of 0.76 g/t gold. This hole also ended in the gold-rich mineralized zone. The table below includes highlights from additional holes drilled into the Copper Belle:
 

 

Drill Hole
From (m)
To (m)
Interval (m)
Gold (g/t)
CB-09-03
5.00
84.00
79.00
0.43
including
56.00
70.00
14.00
1.06
CB-09-04
108.00
124.00
16.00
0.73
CB-09-05
142.35
172.00
29.65
0.45
CB-09-05B
2.50
40.00
37.50
0.37
 
219.00
232.00
16.00
0.86
 
330.00
341.06
11.06 (*)
0.50
CB-09-08
4.00
226.00
222.00
0.37
including
4.00
118.00
114.00
0.48
including
4.00
82.00
76.00
0.56
CB-09-09
3.00
137.00
134.00
0.40
including
55.00
95.00
40.00
0.55
CB-09-10
2.00
45.00
43.00
0.71
 
119.00
331.00
212.00(*)
0.47
including
119.00
137.00
18.00
0.85
CB-09-11
41.00
341.00
300.00
0.46
including
41.00
270.00
229.00
0.52
including
41.00
58.00
17.00
0.88
including
70.00
134.00
64.00
0.79
including
70.00
112.00
42.00
0.98
CB-09-12
81.00
117.20
36.20
0.76
including
99.00
117.20
11.80
1.77
 
225.00
251.00
26.00
1.00
 
303.00
321.20
18.20
0.68
CB-09-13
76.00
118.00
42.00
0.46
 
210.00
315.00
105.00
0.30
CB-09-15
88.00
164.00
76.00
0.63
including
88.00
136.00
48.00
0.84
including
88.00
124.00
36.00
0.98
CB-09-16
217.00
249.00
30.00
0.57
 
287.00
336.19
49.19 (*)
0.76
including
304.00
336.19
32.19 (*)
1.01
Note: True widths are unkown at this time

Drilling on the Copper Belle zone returned wide intervals of gold, expanding on positive drill results from 2007. Future drilling will focus on enlarging the size of this bulk-tonnage style gold-copper-molybdenum porphyry deposit with the objective of defining a resource.
 

GR2 Zone

More high-grade intersections of silver and base metals were discovered in the GR2 zone, expanding the size of this promising new VMS discovery. Highlights from previous 2009 GR2 drilling included gold intersections as high as 5.44 g/t over 14.5 metres and silver intersections as high as 2,280.00 g/t over 0.50 metres (see news release dated November 30, 2009).
 

The table below summarizes highlights from the final four GR2 holes:


Drill Hole
From (m)
To
(m)
Interval (m)
Gold
(g/t)
Silver (g/t)
Cu (%)
Pb (%)
Zn
(%)
GR2-09-08
138.67
141.15
2.48
---
98.71
---
---
---
including
140.15
140.65
0.5
0.91
212.00
---
---
---
GR2-09-09
116.45
117
0.55
2.46
98.7
---
---
---
GR2-09-09
192.75
194.50
1.75
---
166.37
---
---
---
including
193.25
194
0.75
---
150
---
---
---
including
194
194.5
0.5
---
288
---
---
---
GR2-09-09
213.75
234.70
20.95
1.22
---
---
---
---
including
217.50
220.12
2.62
4.98
---
---
---
---
GR2-09-10
238.70
239.40
0.70
0.89
36.8
---
1.76
0.32
GR2-09-11
179.4
179.8
0.4
---
238
---
6.25
---
 
191
191.3
0.3
---
164
---
---
---
 
207.9
208.8
0.9
---
56.2
---
---
---
 
236.75
238.20
1.45
---
105.75
---
---
---
including
237.95
238.20
0.25
---
442
---
9.89
---
 
270
270.45
0.45
---
236
1.07
5.51
2.67
 
279
279.5
0.5
3.60
60.1
0.57
1.36
0.56
 
279.5
280.05
0.55
---
36.3
---
1.8
---
 
281.45
281.9
0.45
1.78
80.1
---
---
---
Note: True widths are unknown at this time

With the completion of the 2009 drill program, the mineralized structures in the GR2 zone appear to be continuous for over 250 metres along strike, and down-dip to depths of over 220 metres from the surface. The system is still open in several directions and at depth.
 

Eureka Zone

One hole was drilled in the Eureka zone in order to test drilling conditions for planning a future drill program on this target. Due to the nature of the rock, the upper portion of the hole was drilled with a tri-cone bit resulting in no recovery until a depth of 30.25 metres. Highlights of hole TG-01 included 60.25m of 0.45 g/t gold from 30.25 to 90.90 metres. Copper increases in quantity from this depth to the bottom of the hole, but the poor recoveries obtained in this interval made the estimation of the grades unclear. The hole had to be abandoned at 164.59 metres. Future drilling in the Eureka zone will likely involve tri-coning to a greater depth in order to reach stable rock before core drilling.
 

Treaty Creek QA/QC

All 2009 Treaty Creek drill holes were surveyed using a down-hole EZ-Shot probe to monitor drillhole deviations. All 2007 and 2009 drill collars were surveyed by a certified independent surveyor, using a Leica GS50 differential GPS with <10cm precision. The QA/QC protocol system employed during the 2009 exploration program included procedures for monitoring the chain-of-custody of samples and the insertion of blanks and reference standard samples in every batch of samples. Cross-check analyses were conducted at a second external laboratory (ALS Chemex Laboratories in Vancouver, BC) from blind duplicate samples. Drill core samples were assayed at Eco-Tech Laboratory Ltd., in Kamloops, BC using fire assay and atomic adsorption finish methods for gold, aqua regia digestion with ICP finish methods for other elements, and ore grade aqua regia digestion with AA finish for specific mineralized intervals. Specific gravity for density measurements was also determined in the assay procedures.
 

American Creek holds a 51% interest in the Treaty Creek Project with Teuton holding the remaining 49%. Under the terms of the Option Agreement with Teuton, American Creek has elected to earn an additional 9% interest (for an aggregate total of 60%) by making all expenditures necessary to bring the project to feasibility. American Creek is the operator of the project. Exploration activities are being conducted by American Creek personnel under the supervision of Raul Sanabria, M.Sc., EurGeol., P.Geo., Vice President, Exploration.
 

As previously stated, the Treaty Creek Project is located directly north of and adjacent to the KSM project held by Seabridge. Seabridge�s proposed development concept for the KSM deposit includes constructing twin tunnels to transport ore through the heart of the Treaty Creek property. Seabridge presently has no legal interest in the Treaty Creek mineral claims. Access would be granted by American Creek and Teuton only on terms maximizing value to their respective shareholders.
 

Raul Sanabria, P. Geo., is the Qualified Person for the purposes of National Instrument 43-101 for the Treaty Creek Project. Mr. Sanabria has verified and approved the contents of this news release. Mr. Sanabria has not verified the resource results that were previously disclosed by Seabridge Gold Inc. and Silver Standard Resources Inc., respectively.
 

American Creek Resources Ltd. is a Canadian mineral exploration company focused on the acquisition, exploration and development of mineral deposits within the Province of British Columbia, Canada.
 

Teuton Resources Corp. is a Canadian exploration company focused on the Stewart region of northwestern British Columbia since 1982; it is currently the largest landholder in the district.
 

For further information on American Creek please contact Darren Blaney at: 403 752-4040 or email: info@americancreek.com. Information relating to the Corporation is available on its website at www.americancreek.com.
 

For further information on Teuton, please contact Gary Assaly at: 800-879-2333 or email: gary.teuton@shawlink.ca. Information relating to Teuton is available at its website: www.teuton.com.
 

Certain information contained in this news release constitutes forward-looking statements regarding the Corporation�s mineral properties. Forward looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate" or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the reasonable opinions and estimates of management of American Creek and are subject to a variety of risks, uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include: the inherent risks involved in the exploration and development of mineral properties, uncertainties involved in the interpretation of drill results and other geological data, fluctuating commodity prices, unforeseen permitting requirements, changes in environmental laws or regulations, the possibility of project cost overruns or unanticipated costs and expenses, weather conditions, the availability of contractors for equipment and services, the availability of future financing and general business and economic conditions. Such statements are also based on a number of assumptions which may prove to be incorrect, including assumptions about general business and economic conditions being accurate, the timing and receipt of regulatory approvals for projects and operations, the availability of financing, the ability to secure equipment and labour, and American Creek�s ongoing relationship with third parties. The foregoing factors, risks and assumptions are not exhaustive. Events or circumstances could cause actual events or results to differ materially from those estimated or projected and expressed in, or implied by, these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. These forward-looking statements are as of the date they are made and American Creek disclaims any obligation to update any forward-looking statements, except as required by law.

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.

 

 

 


 
 
www.americancreek.com

 


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American Creek Resources Ltd

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CODE : AMK.V
ISIN : CA0252881010
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American Creek est une société d’exploration minière d'argent et d'or basée au Canada.

American Creek détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont ELECTRUM, TIDE, IRONMIST et TREATY CREEK au Canada.

American Creek est cotée au Canada. Sa capitalisation boursière aujourd'hui est 35,6 millions CA$ (28,4 millions US$, 24,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 2,61 CA$, et son plus bas niveau récent le 31 mai 2019 à 0,03 CA$.

American Creek possède 229 530 000 actions en circulation.

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