American Creek JV partner spots new target at Treaty

Mar 5, 2018

2018-03-02 09:52 ET – News Release

Mr. Walter Storm reports

AMERICAN CREEK REPORTS THAT JV PARTNER TUDOR GOLD HAS TARGETTED SULPHURETS THRUST FAULT CONVERGENCE AREA NEXT TO IRON CAP DEPOSIT FOR EXPLORATION

American Creek Resources Ltd.’s joint venture partner, Tudor Gold Corp., 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 its Iron Cap Deep discovery, combined with data from Tudor’s electromagnetic, magnetic and magnetotelluric geophysical surveys, have 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 stepout drilling to the northeast, where gold grades over long intercepts have been improving. This drilling will provide the geodata required to build out a preliminary resource estimate.

GR2 (including HC and RR), Orpiment, Konkin and AW zones

Field geologists will continue surface exploration on these secondary targets with mapping, sampling and geochemical analysis of the Konkin zone, with 1.2 metres of 870 grams per tonne 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 they are finalized.

Sulphurets thrust fault convergence area

A prominent electromagnetic 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.

A British Columbia government map with fault overlay that clearly shows the numerous faults in the Sulphurets convergence area is available on-line. 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 of gold and 10.2 billion pounds of 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; and Nelson and Kyba, 2014.

Measured as a linear surface track, 52 per cent 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 available on-line. 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.

On the map, 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-centre of the map on the 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 hangingwall.
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,” from Seabridge Gold news release of Nov. 9, 2017.

Walter Storm, president and chief executive officer, 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 electromagnetic, magnetic and magnetotelluric 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 No. 2351 at the Prospectors and Developers Association of Canada 2018 Conference, which begins on March 4, 2018.

Tudor will have booth No. 3346.

All shareholders and other interested parties who are able to attend are invited to stop by and say hello. The company looks forward to talking with you.

Qualified person

The qualified person for the analytical information in this new release is James McCrea, PGeo, 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 British Columbia’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 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-per-cent interest with both American Creek and Teuton each holding respective 20-per-cent carried interests in the property (fully carried until a production notice is given).

A summary of the Treaty Creek project can be viewed on the company’s website.

About American Creek Resources Ltd.

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 Mr. Storm and Tudor, as well as the recently acquired 100-per-cent-owned past-producing Dunwell mine. Other properties held throughout B.C. include the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side and Glitter King.

We seek Safe Harbor.

http://www.americancreek.com/index.php/news/news-2018