American Creek Reports 2011 Electrum Property Results
(via Thenewswire.ca)
April 13, 2012TSX-V: AMK
American Creek Resources Ltd. ("American Creek") is pleased
to announce the final assay results from the last five holes of the
2011 exploration program conducted on its 100% owned Electrum Property
near Stewart, B.C
In 2010 American Creek had planned a 10,000m program to advance the
Electrum project. This program was updated and refined by SRK
Consulting and Frank O'Grady, P. Eng. to use the first 5,000m in
identifying a potential open pit area crosscutting epithermal veins.
This open pit model has been used at the Big Missouri and Premier
mines located 14 and 18km down the haul road from the Electrum. This
modified program also employs a more efficient use of limited drilling
given that only 2,105m of the planned 5,000m were completed due to
budgetary constraints.
The significance of continuing to intercept the stockwork (porphyry)
previously found on the Electrum is due to the exceptional logistics
of the property. A well-developed 40km road directly links the
property to the bulk tonnage shipping terminals in Stewart.
Electrical power lines come within 18 km of the property and can be
continued along the existing haul road.
The historically mined epithermal vein on the property (East Gold
Mine) produced 3,816 oz of gold and 2,442 oz of silver from 45 tons of
hand selected ore (pre NI 43-101). In surface sampling and in
previous drilling American Creek has intercepted similar high-grade
veins that would significantly add value to a low-grade bulk tonnage
resource.
Program Objectives
With this in mind, the objectives of the 2011 program designed by SRK
Consulting and Mr. O'Grady were to:
1.Determine if the lower grade gold values present in a quartz stockwork similar to that found in Hole EL06-17 drilled in 2006 are present over a significant portion of the property. Hole EL06-17 returned assays of 0.42 g/t Au and 2.10 g/t Ag over 142.5 meters.
2.Determine if the higher grade gold values in epithermal veins are present along strike and down dip from their surface showings.
These two objectives were pursued by geological mapping and diamond
drilling.
Drill Results
Significant results from the last five holes of the 2011 program are
reported below:
In hole EL11-759 the weighted average of gold over the entire 278.59
meters length of the hole is 0.31 grams per tonne gold. There were
sections of higher values as follows:
----------------------------------------------------------
|Sample #|From |To |Interval |Au |Ag |
| | | |(m) |grams/tonne|grams/tonne|
|--------------------------------------------------------|
|L624696 |28 |30 |2 |1.06 |2.8 |
|--------------------------------------------------------|
|L624722 |78 |80 |2 |1.66 |4.1 |
|--------------------------------------------------------|
|L624796 |203.37|204.15|0.78 |1.21 |96.0 |
|--------------------------------------------------------|
|L624805 |217.66|218.53|0.87 |1.46 |147.0 |
----------------------------------------------------------
In hole EL11-762 the weighted average of gold over the entire 175.26
meters length is 0.39 grams per tonne gold. There were sections of
higher values as follows:
------------------------------------------------------
|Sample #|From|To |Interval |Au |Ag |
| | | |(m) |grams/tonne|grams/tonne|
|----------------------------------------------------|
|L624983 |19 |19.2|0.2 |1.15 |2.1 |
|----------------------------------------------------|
|L625010 |62.6|63.6|1 |1.17 |7.5 |
|----------------------------------------------------|
|L625069 |161 |163 |2 |1.19 |3.0 |
|----------------------------------------------------|
|L625072 |167 |169 |2 |1.19 |4.4 |
------------------------------------------------------
In hole EL11-761 the weighted average of gold over the entire 230.73
meters length is 0.23 grams per tonne gold. There were sections of
higher values as follows:
--------------------------------------------------------
|Sample #|From |To |Interval |Au |Ag |
| | | |(m) |grams/tonne|grams/tonne|
|------------------------------------------------------|
|L624871 |64.22|64.61|0.39 |2.18 |4.0 |
|------------------------------------------------------|
|L624889 |93 |94.45|1.45 |1.27 |5.1 |
|------------------------------------------------------|
|L624909 |124 |126 |2 |1.65 |4.2 |
--------------------------------------------------------
Hole EL11-761 and hole EL11-759 were drilled from the same collar
location as EL11-756; hole EL11-762 was drilled from a location 20
meters north of the EL11- 756 collar.
The three most recent holes (EL11-759, EL11-761 and EL11-762) were
drilled to determine if the quartz stockwork encountered in EL11-756,
and carrying sections of open pit grade values, was present in the
immediate vicinity.
The results, as referenced from above are:
----------------------------------------
|HOLE |HOLE LENGTH |WEIGHTED AVERAGE|
| |(m) | |
|--------------------------------------|
|EL11-756|263.50 |0.36 grams/tonne|
|--------------------------------------|
|EL11-759|278.59 |0.31 grams/tonne|
|--------------------------------------|
|EL11-761|230.73 |0.23 grams/tonne|
|--------------------------------------|
|EL11-762|175.26 |0.39 grams/tonne|
----------------------------------------
While the grades encountered in holes are probably sub economic when
compared to other disseminated gold deposits around the globe they
indicate the quartz stockwork containing gold values is extensive. It
can be concluded that systematic drilling stepping out from this area
may result in expanding the known stockwork zone that will contain
higher grade gold values.
Hydrothermal Veins
As discussed in the news release of December 14, 2011, the
hydrothermal veins may play a significant role in adding value to the
property.
A brief summary of the hydrothermal veins is as follows:
1.East Gold Mine vein. Historically produced 118,719 grams of gold (3,816 ounces) and 75,985 grams (2,442 ounces) of silver from 45 tonnes of handpicked ore (pre 43-101).
2.Reported in the December 15, 2011 press release, a hydrothermal vein was encountered in hole EL11 -746 which is situated approximately 300 meters south of the East Gold Mine zone and is a parallel structure. This vein assayed 3.85 g/t gold and 342.31 g/t silver over 1.57 meters.
3.The Shiny Cliff hydrothermal vein, reported in a press release on September 28, 2011, was intersected in hole EL11-748. Because of the possible nugget effect of the gold values in a hydrothermal vein this intersection was re-assayed. The averaged results are 2.26 g/t gold and 286.44 g/t silver over 2.26 meters.
Summary
The results of the 2011 exploration program indicate that there is
potential for expanding the bulk mining gold grades exemplified in the
quartz stockwork type of mineralization. It further indicates the
potential of expanding the hydrothermal veins on the Electrum property
by delineating known veins and the possibility of encountering further
veins during future drilling and mapping of the property.
Frank O'Grady, P.Eng., is the Qualified Person for the purposes of
National Instrument 43-101 for the Electrum Project. Mr. O'Grady has
verified and approved the contents of this news release.
American Creek Resourced Ltd. is a Canadian mineral exploration
company focused on the acquisition and development of mineral deposits
within the Province of British Columbia, Canada.
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.
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.
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