American Creek's JV Partner Tudor Announces Filing of NI 43-101 Technical Report on the Updated Mineral Resource Estimate for the Goldstorm Deposit at the Treaty Creek Project, British Columbia
- Significant increase in Indicated Mineral Resources for Goldstorm Deposit
- Advanced metallurgical studies refine cutoff grades, reducing pit size
- Goldstorm Deposit open for further exploration
- Joint Venture partnership with Tudor Gold in the Treaty Creek Project
- None.
Cardston, Alberta--(Newsfile Corp. - April 9, 2024) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("the Corporation" or "American Creek") is pleased to announce that project operator and JV partner Tudor Gold ("Tudor") has filed the technical report (the "Report") for the updated Mineral Resource Estimate on the Goldstorm Deposit (the "MRE" or "2024 Treaty Creek MRE") at the flagship Treaty Creek Project (the "Project") located in the Golden Triangle region of British Columbia. The Report is entitled "NI 43-101 Technical Report, Treaty Creek Project, British Columbia", with an effective date of April 5, 2024 and was prepared for Tudor Gold by Garth Kirkham Geosystems and JDS Energy & Mining Inc. ("JDS"). The Report is available under the Tudor's profile on SEDAR at www.sedar.com or from the Tudor's website at www.tudor-gold.com.
Highlights of the 2024 Updated Mineral Resource Estimate for the Goldstorm Deposit:
Increased the Indicated Mineral Resource by
19% in gold equivalent ounces (AuEQ), consisting of a16% increase in gold (Au),14% increase in silver (Ag) and32% increase in copper (Cu).Indicated Mineral Resource of 27.87 million ounces (Moz) of AuEQ within 730.20 million tonnes (Mt) at a grade of 1.19 g/t AuEQ; comprised of:
21.66 Moz of Au at 0.92 g/t, 128.73 Moz of Ag at 5.48 g/t, and 2.87 billion pounds (Blbs) of Cu at
0.18% .
Inferred Mineral Resource of 6.03 Moz of AuEQ within 149.61 Mt at a grade of 1.25 g/t AuEQ; comprised of:
4.88 Moz of Au at 1.01 g/t, 28.97 Moz of Ag at 6.02 g/t, and 503.23 million pounds (Mlbs) of Cu at
0.15% .
The CS-600 domain, comprised of a monzodiorite intrusive stock and associated gold-copper porphyry system, constitutes a large part of the deposit with an Indicated Mineral Resource of 15.65 Moz of AuEQ within 400.29 Mt at a grade of 1.22 g/t AuEQ; consisting of:
9.99 Moz of Au at 0.78 g/t; and 2.73 Blbs of Cu at
0.31% .An
58% increase in the AuEQ ounces within the CS-600 domain.
The 2023 drilling improved our geologic understanding of the mineralization in the northern portion of the deposit. The NS-STK Domain was reinterpreted to be a NE-SW trending stockwork and is associated with the 300H Domain mineralization. This system has now been separated into its own mineral domain, named 300N.
Advanced metallurgical studies and refined the pit constrained and underground cutoff grades, increasing the pit constrained cutoff from 0.5 to 0.7 g/t AuEQ and the underground cutoff from 0.7 to 0.75 g/t AuEQ.
Substantially reduced the pit size which eliminated the necessity to remove the glacier and reduced the strip ratio.
The Goldstorm Deposit remains open to the south, north, northeast and at depth.
Updated Mineral Resource Estimate for the Goldstorm Deposit
The MRE was prepared by Garth Kirkham, P.Geo, based on 225 diamond drill holes (175,719 meters) completed between 2007 and 2023. The MRE included 27,394 meters of diamond drill holes that were completed since the 2023 MRE.
Table 1: Summary of Indicated and Inferred Mineral Resources as of February 20, 20241-6
| Mine Area | Tonnage (Mt) | AuEQ (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | AuEQ (Moz) | Au (Moz) | Cu (Mlb) | Ag (Moz) |
| Indicated Mineral Resource | |||||||||
| Pit | 68.94 | 1.06 | 1.03 | 0.02 | 3.69 | 2.36 | 2.28 | 29.33 | 8.19 |
| Underground | 661.25 | 1.20 | 0.91 | 0.20 | 5.67 | 25.51 | 19.38 | 2842.74 | 120.54 |
| Combined | 730.20 | 1.19 | 0.92 | 0.18 | 5.48 | 27.87 | 21.66 | 2872.07 | 128.73 |
| Inferred Mineral Resource | |||||||||
| Pit | 0.35 | 0.82 | 0.79 | 0.01 | 3.06 | 0.01 | 0.01 | 0.09 | 0.03 |
| Underground | 149.26 | 1.25 | 1.01 | 0.15 | 6.03 | 6.02 | 4.87 | 503.15 | 28.94 |
| Combined | 149.61 | 1.25 | 1.01 | 0.15 | 6.02 | 6.03 | 4.88 | 503.23 | 28.97 |
(1) Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
(2) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
(3) The Mineral Resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
(4) The Mineral Resource Estimate was prepared for a potential open pit scenario using a constrained pit shell (with 45-degree slopes) at a 0.7 g/t gold equivalent cut-off grade and an underground mining scenario using a 0.75 g/t gold equivalent cut-off grade. Cut-off grades were derived from US
(5) AuEq g/t = Au g/t + (Ag g/t*0.01) + (Cu ppm*0.000124)
(6) A mineral estimate of the material within the defined pit that exists outside of the outlined mineral domains was completed and is included within the Inferred Mineral Resource.
The Goldstorm sensitivity tables (Tables 2,3,4 and 5) report the variation of resource grade and tonnage with respect to the change in cut-off grades for the Indicated and Inferred Mineral Resources.
Table 2: Indicated Mineral Resource Cutoff Sensitivity - Pit Constrained1
| Pit Cutoff | Tonnage (Mt) | AuEQ g/t | Au g/t | Cu % | Ag g/t | AuEQ Moz | Au Moz | Cu Mlb | Ag Moz |
| 0.4 | 95.63 | 0.93 | 0.89 | 0.02 | 3.20 | 2.85 | 2.75 | 36.33 | 9.84 |
| 0.5 | 88.61 | 0.96 | 0.93 | 0.02 | 3.33 | 2.74 | 2.65 | 34.51 | 9.48 |
| 0.6 | 80.07 | 1.01 | 0.97 | 0.02 | 3.49 | 2.59 | 2.50 | 32.35 | 8.98 |
| 0.72 | 69.29 | 1.06 | 1.03 | 0.02 | 3.69 | 2.37 | 2.29 | 29.42 | 8.22 |
| 0.8 | 57.16 | 1.13 | 1.09 | 0.02 | 3.92 | 2.08 | 2.00 | 25.43 | 7.21 |
| 0.9 | 44.84 | 1.21 | 1.16 | 0.02 | 4.20 | 1.74 | 1.68 | 21.14 | 6.05 |
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2) The MRE utilizes 0.7 g/t AuEQ for the pit constrained Mineral Resource
Table 3: Indicated Mineral Resource Cutoff Sensitivity - Underground1
| UG Cutoff | Tonnage (Mt) | AuEQ g/t | Au g/t | Cu % | Ag g/t | AuEQ Moz | Au Moz | Cu Mlb | Ag Moz |
| 0.5 | 810.32 | 1.10 | 0.84 | 0.18 | 5.18 | 28.60 | 21.85 | 3 129.85 | 135.06 |
| 0.6 | 766.70 | 1.13 | 0.86 | 0.18 | 5.34 | 27.82 | 21.21 | 3 066.17 | 131.51 |
| 0.7 | 700.73 | 1.17 | 0.89 | 0.19 | 5.55 | 26.43 | 20.10 | 2935.20 | 124.99 |
| 0.752 | 661.25 | 1.20 | 0.91 | 0.20 | 5.67 | 25.51 | 19.38 | 2 842.74 | 120.54 |
| 0.8 | 618.58 | 1.23 | 0.93 | 0.20 | 5.79 | 24.45 | 18.55 | 2 734.31 | 115.19 |
| 0.9 | 525.43 | 1.30 | 0.98 | 0.21 | 6.04 | 21.91 | 16.59 | 2 465.04 | 101.98 |
| 1.0 | 428.72 | 1.37 | 1.04 | 0.23 | 6.28 | 18.95 | 14.37 | 2 126.64 | 86.49 |
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2) The MRE utilizes 0.75 g/t AuEQ for the underground Mineral Resource.
Table 4: Inferred Mineral Resource Cutoff Sensitivity - Pit Constrained1
| Pit Cutoff | Tonnage (Mt) | AuEQ g/t | Au g/t | Cu % | Ag g/t | AuEQ Moz | Au Moz | Cu Mlb | Ag Moz |
| 0.4 | 4.52 | 0.51 | 0.49 | 0.01 | 1.86 | 0.07 | 0.07 | 1.38 | 0.27 |
| 0.5 | 1.83 | 0.62 | 0.60 | 0.01 | 2.14 | 0.04 | 0.04 | 0.46 | 0.13 |
| 0.6 | 0.79 | 0.72 | 0.69 | 0.01 | 2.45 | 0.02 | 0.02 | 0.19 | 0.06 |
| 0.702 | 0.35 | 0.82 | 0.79 | 0.01 | 3.06 | 0.01 | 0.01 | 0.09 | 0.03 |
| 0.8 | 0.15 | 0.93 | 0.89 | 0.01 | 3.91 | 0.00 | 0.00 | 0.04 | 0.02 |
| 0.9 | 0.06 | 1.07 | 1.01 | 0.01 | 5.42 | 0.00 | 0.00 | 0.02 | 0.01 |
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2) The MRE utilizes 0.7 g/t AuEQ for the pit constrained Mineral Resource
Table 5: Inferred Mineral Resource Cutoff Sensitivity - Underground1
| UG Cutoff | Tonnage (Mt) | AuEQ g/t | Au g/t | Cu % | Ag g/t | AuEQ Moz | Au Moz | Cu Mlb | Ag Moz |
| 0.5 | 173.86 | 1.17 | 0.95 | 0.14 | 5.58 | 6.53 | 5.29 | 542.37 | 31.17 |
| 0.6 | 166.84 | 1.19 | 0.97 | 0.15 | 5.73 | 6.40 | 5.18 | 536.27 | 30.74 |
| 0.7 | 157.10 | 1.23 | 0.99 | 0.15 | 5.91 | 6.20 | 5.01 | 518.84 | 29.84 |
| 0.752 | 149.26 | 1.25 | 1.01 | 0.15 | 6.03 | 6.02 | 4.87 | 503.15 | 28.94 |
| 0.8 | 140.68 | 1.28 | 1.04 | 0.16 | 6.17 | 5.80 | 4.70 | 482.89 | 27.89 |
| 0.9 | 121.32 | 1.35 | 1.10 | 0.16 | 6.45 | 5.27 | 4.28 | 432.48 | 25.17 |
| 1.0 | 101.26 | 1.43 | 1.17 | 0.17 | 6.80 | 4.66 | 3.81 | 369.91 | 22.14 |
(1) Refer to footnotes to the Mineral Resource Estimate in Table 1 of this News Release.
(2) The MRE utilizes 0.75 g/t AuEQ for the underground Mineral Resource.
The Goldstorm Deposit consists of six mineral domains with unique geological characteristics. Five of the domains are gold-dominant with lesser proportions of silver and copper. Domain CS-600 is dominantly gold and copper rich, with lesser silver. The CS-600 hosts the majority of the copper at the Goldstorm Deposit and consists of a well-defined intrusive porphyry system. Table 6 summarizes the Indicated and Inferred Mineral Resources for each mineral domain.
Table 6: Mineral Resources by Domain - Combined Pit and Underground1
| Indicated Mineral Resources | |||||||||
| Domain | Tonnage (Mt) | AuEQ (g/t) | Au (g/t) | Cu (%) | Ag (g/t) | AuEQ (Moz) | Au (Moz) | Cu (Mlb) | Ag (Moz) |
| 300H | 184.86 | 1.08 | 1.05 | 0.02 | 3.76 | 6.44 | 6.22 | 92.28 | 22.32 |
| 300N | 11.62 | 1.51 | 1.46 | 0.01 | 4.55 | 0.56 | 0.55 | 2.64 | 1.70 |
| CS-600 | 400.29 | 1.22 | 0.78 | 0.31 | 5.71 | 15.65 | 9.99 | 2725.13 | 73.47 |
| DS5 | 124.75 | 1.22 | 1.14 | 0.02 | 7.60 | 4.89 | 4.59 | 48.68 | 30.47 |
| R66 | 3.10 | 1.40 | 1.38 | 0.03 | 1.90 | 0.14 | 0.14 | 2.18 | 0.19 |
| Copper Belle | 5.58 | 1.02 | 0.99 | 0.01 | 3.27 | 0.18 | 0.18 | 1.36 | 0.59 |
| Inferred Mineral Resources | |||||||||
| 300H | 0.09 | 1.04 | 0.98 | 0.03 | 6.16 | 0.00 | 0.00 | 0.07 | 0.02 |
| 300N | 2.31 | 1.75 | 1.72 | 0.01 | 3.12 | 0.13 | 0.13 | 0.44 | 0.23 |
| CS-600 | 74.03 | 1.20 | 0.79 | 0.29 |
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"text": "The highlights include increased Indicated Mineral Resources, refined cutoff grades, and the Goldstorm Deposit remaining open for further exploration."
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FAQ
What is the updated Mineral Resource Estimate for the Goldstorm Deposit at the Treaty Creek Project?
The updated Mineral Resource Estimate shows 27.87 million ounces of AuEQ in the Indicated category and 6.03 million ounces of AuEQ in the Inferred category.
Who prepared the technical report for the updated Mineral Resource Estimate?
The technical report was prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc. for Tudor Gold.
What is the ownership structure in the Treaty Creek Project?
Tudor Gold owns 3/5th and is the operator, while American Creek and Teuton Resources each hold a 1/5th interest in the project.
What are the key highlights of the updated Mineral Resource Estimate?
The highlights include increased Indicated Mineral Resources, refined cutoff grades, and the Goldstorm Deposit remaining open for further exploration.
What are the major geological domains at the Goldstorm Deposit?
The Goldstorm Deposit consists of six mineral domains with unique geological characteristics, with CS-600 being dominantly gold and copper rich.
American Creek R
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