American Creek's JV Partner Tudor Gold Intensifies Exploration Efforts by Initiating Permitting for Construction of Underground Exploration Infrastructure to Expand and Complete Drilling of Supercell One Zone at Treaty Creek, Golden Triangle of British Columbia

Rhea-AI Summary

American Creek Resources (TSXV: AMK) announced that its JV partner Tudor Gold has initiated permitting for approximately 3,000 meters of underground development at the Treaty Creek Project in British Columbia's Golden Triangle. The exploration ramp will target the Supercell One Zone (SC-1) with infill and expansion drilling.

The underground infrastructure is expected to reduce drilling costs and time while potentially serving as air ventilation support for future mining operations. The project plans include a 25,000-meter year-round drilling program focusing on the SC-1 Zone, which remains open along strike and plunge. To date, over 10,000 meters of drilling have targeted this zone.

The development follows encouraging 2024 drilling results, with the zone showing similarities to Newmont's Brucejack gold deposit. The current Mineral Reserve Estimate stands at 27.9 million ounces of AuEq averaging 1.19 g/t AuEq, though SC-1 results are not yet included in this estimate.

Positive

• Underground development expected to reduce drilling costs and time
• Project holds 27.9 million ounces of AuEq reserves at 1.19 g/t AuEq
• Planned 25,000-meter year-round drilling program
• Infrastructure can support future mining operations
• High-grade gold mineralization remains open for expansion

Negative

• Additional permits required before development can begin
• Significant capital expenditure needed for underground development
• Current SC-1 drilling results not included in reserve estimates

Cardston, Alberta--(Newsfile Corp. - January 14, 2025) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation" or "American Creek") is pleased to announce that project operator and JV partner Tudor Gold ("Tudor") has initiated the permitting process for the construction of approximately 3,000 meters of underground development to provide an exploration ramp for targeting the Supercell One Zone (SC-1) with infill and expansion drilling, at the flagship Treaty Creek Project, located in the heart of the Golden Triangle of Northwestern British Columbia.

Ken Konkin P.Geo, President & CEO of Tudor Gold commented, "We are excited to move forward with plans to explore the high-grade underground Supercell One targets at the Treaty Creek Property through the construction of an underground exploration drift. This initiative is expected to substantially reduce both the cost and time required to drill and define the Supercell One Zone by utilizing underground drilling stations compared to conventional surface drilling. In addition to assisting the exploration goals, once completed, management believes that the underground infrastructure should provide long-term benefits to the project, potentially serving as a Fresh Air Raise or Return Air Raise to support future production mining of the high-grade Supercell One Zone and/or the CS600 Zone. Additionally, the underground development will be important in the selection of optimum material required for a 10,000-tonne test for a pilot process which would be required for a Feasibility Study. The advantages of driving an exploration development ramp are significant and this initiative is expected to bring substantial value to our Project."

Furthermore, Ken Konkin, stated, "The 2024 drilling results from the SC-1 Zone have been highly encouraging, corroborating the continuity and high-grade nature of gold mineralization in an area which is structurally and geologically analogous to Newmont Corporation's Brucejack gold deposit that was discovered in 2010. Once the underground exploration drift is completed, a year-round drilling program of approximately 25,000 meters is expected to focus on the Supercell One Zone and peripheral areas to further define the extent and geometry of the high-grade gold mineralization, which remains open along strike and up and down plunge. The objective is to accelerate the drilling program with the goal of fully unlocking this potential multi-million-ounce high-grade gold system. The Supercell System discovery was confirmed by several of the holes from last year's drilling program, however none of the results are included within the February 2024 Mineral Reserve Estimate of 27.9 million ounces of AuEq averaging 1.19 g/t AuEq (see press release dated February 20, 2024). We believe that the high-grade Supercell System is a major pivotal point in the evolution of the Goldstorm Deposit.

"To date, over 10,000 meters of drilling have targeted the Supercell One Zone, which appears to be on its way to becoming a major asset within the Goldstorm Deposit. The exploration drill campaign planned for the Supercell One Zone and the remainder of the Goldstorm Deposit is expected to further enhance this potential. The development of the underground exploration marks an important stage for Tudor Gold and its Treaty Creek Project, and we look forward to the opportunities this advancement will bring.

"Management believes that the proposed permitting of an underground exploration drift designed by Tudor Gold's engineering consultant Fuse Advisors, should greatly enhance what is already a large gold-copper-silver deposit. Management is optimistic that this initiative is likely to assist in attracting a strategic partnership with an experienced mining company that has the technical expertise and financial capacities to assist Tudor Gold in advancing the Treaty Creek Project."

Figure 1. Plan Map of Proposed Underground Development Targeting SC-1 High-Grade Gold Zone

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Figure 2. Long Section - Supercell One High-Grade Gold Drill Target

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About the Supercell-One Zone

The SC-1 discovery, confirmed during the 2024 exploration program, represents a significant potential economic target that is within, and peripheral to, the CS-600 Domain (see press releases dated February 2^nd, August 14^th, and September 11^th, 2024). The gold-rich SC-1 system consists of four stacked, sub parallel structures within an area measuring up to 800 m in length by 400 m in depth. All four stacked, sub-parallel structures remain open in all directions and to depth. The results that confirmed the discovery of the SC-1 Zone which followed up the initial pre-2024 drilling that originally encountered a single 5 to 10-meter-wide interval of quartz-pyrite-gold micro-breccia structures superimposed or overprinted on the gold-copper-rich CS-600 Domain. Visual inspection of the drill core indicated consistent gold mineralization within the series of late-stage, gold-dominant, quartz-pyrite micro-breccia structures. In addition to expanding the size of the known high-grade mineral horizons, management believes that significant potential exists to discover more supercells within known domains and subparallel to the four newly discovered micro-breccia systems.

Table 1. Drill highlights from the nine holes targeting the SC-1 area:

Zone	Hole	From	To	Interval	Au	Ag	Cu	AuEQ
		(m)	(m)	(m)	(g/t)	(g/t)	(%)	(g/t)
SC-1A	GS-24-181	810.00	812.00	2.00	8.97	3.73	0.01	9.02
	GS-24-183-W1	283.50	289.50	6.00	6.44	26.62	0.04	6.76
	GS-24-186	787.50	789.00	1.50	9.78	22.46	0.02	10.40
SC-1B	GS-24-181	886.50	889.50	3.00	8.28	126.50	1.21	11.05
	GS-24-183-W1	423.60	429.90	6.30	4.26	224.59	5.96	13.89
	GS-22-134	1215.00	1219.50	4.50	4.26	3.03	0.07	4.37
	GS-23-176-W1	181.50	204.00	22.50	2.76	15.39	0.18	3.13
	GS-23-170	1017.00	1036.50	19.50	4.12	6.83	0.08	4.29
SC-1C	GS-22-134	1474.50	1500.00	25.50	9.66	1.23	0.24	9.96
	GS-23-176-W1	451.50	466.50	15.00	14.89	4.72	0.60	15.64
	GS-23-179	1129.50	1141.50	12.00	9.78	1.35	0.23	10.07
	GS-24-187	919.50	922.50	3.00	10.89	0.97	0.02	10.92
	GS-24-181	1095.00	1101.00	6.00	5.02	3.32	0.21	5.31
	GS-24-183-W1	609.00	618.00	9.00	5.08	1.24	0.02	5.12
	GS-22-151-W1	1024.50	1032.00	7.50	3.96	3.85	0.08	4.10
SC-1D	GS-24-185	880.50	894.00	13.50	9.58	0.44	0.01	9.60
	GS-24-184	953.85	960.00	6.15	5.44	63.77	1.62	8.09
	GS-24-187	975.00	978.00	3.00	5.65	0.95	0.03	5.70

 

• All assay values are uncut and intervals reflect drilled intercept lengths.
• HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals.
• The following metal prices were used to calculate the Au Eq metal content: Gold $1850/oz, Ag: $21/oz, Cu: $3.75/lb. Calculations used the formula AuEQ = Au g/t + (Ag g/t*0.0100901) + (Cu ppm*0.0001236). All metals are reported in USD and calculations consider recoveries of 90 % for gold, 80 % for copper, and 80 % for silver.
• True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.

Figure 3. Drill Results from the SC-1 Zone within the Goldstorm Deposit.

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The Supercell-One system remains open to the northwest, north, and east. Tudor Gold plans to further explore this higher-grade system and review other gold-dominant sub-domains as part of the Company's strategy to expand the high-grade gold potential of the Goldstorm Deposit. Such areas as R-66 and 300N show similar structural characteristics and are composed of similar gold-rich quartz-pyrite micro-breccia veinlets.

Tudor Gold is aiming for a scenario whereby the SC-1 Zone provides a potential path towards developing a large, multi-generational project that begins with a high-grade underground starter operation and expands into a substantial block-cave underground copper-gold-silver production.

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is Tudor Gold's President and CEO, Ken Konkin, P. Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

QA/QC

Diamond drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA Labs' Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the Company.

About Treaty Creek

The Treaty Creek Project hosts the Goldstorm Deposit, comprising a large gold-copper porphyry system, as well as several other mineralized zones. As disclosed in the "NI-43-101 Technical Report for the Treaty Creek Project", dated April 5, 2024 prepared by Garth Kirkham Geosystems and JDS Energy & Mining Inc., the Goldstorm Deposit has an Indicated Mineral Resource of 27.87 million ounces (Moz) of AuEQ grading 1.19 g/t AuEQ (21.66 Moz gold grading 0.92 g/t, 2.87 billion pounds (Blbs) copper grading 0.18%, 128.73 Moz silver grading 5.48 g/t) and an Inferred Mineral Resource of 6.03 Moz of AuEQ grading 1.25 g/t AuEQ (4.88 Moz gold grading 1.01 g/t, 503.2 Mlb copper grading 0.15%, 28.97 Moz silver grading 6.02 g/t), with a pit constrained cut-off of 0.7 g/t AuEQ and an underground cut-off of 0.75 g/t AuEQ.

The Goldstorm Deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 domain largely consists of nested pulses of diorite intrusive stocks and hosts the majority of the copper mineralization within the Goldstorm Deposit. CS-600 has an Indicated Mineral Resource of 15.65 Moz AuEQ grading 1.22 g/t AuEQ (9.99 Moz gold grading 0.78 g/t, 2.73 Blbs copper grading 0.31%, 73.47 Moz silver grading 5.71 g/t) and an Inferred Mineral Resource of 2.86 Moz AuEQ grading 1.20 g/t AuEQ (1.87 Moz gold grading 0.79 g/t, 475.6 Mlb copper grading 0.29%, 13.4 Moz silver grading 5.63 g/t). The Goldstorm Deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the Deposit.

¹ AuEq = Au g/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)

Treaty Creek JV Partnership

American Creek is a proud partner in the Treaty Creek Project.

The project is a Joint Venture with Tudor Gold owning 3/5th and acting as operator. American Creek and Teuton Resources each have a 1/5th interest in the project creating a 3:1 ownership relationship between Tudor Gold and American Creek.

American Creek and Teuton hold fully carried 20% interests, which means no development costs are incurred by these companies until a production notice is issued. This gives shareholders a unique opportunity, to avoid the dilutive effects of exploration while maintaining their full 20% exposure to one of the world's most exciting mega deposits.

About American Creek

American Creek is a Canadian junior mineral exploration company with gold and silver properties in British Columbia, Canada.

The Corporation has an interest in the Treaty Creek property, a joint venture project with Tudor Gold located in BC's prolific "Golden Triangle".

The Corporation also holds the Austruck-Bonanza gold property located near Kamloops.

For further information please contact Kelvin Burton at:

Phone: 403 752-4040 or Email: info@americancreek.com.

Information relating to the Corporation is available on its website at www.americancreek.com.

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.

Cautionary Statements regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Corporation expects or anticipates will or may occur in the future, including the completion and anticipated results of planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the Corporation's planned exploration activities will be completed in a timely manner. Although the assumptions made by the Corporation in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

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. Important factors that could cause actual results to differ materially from the Corporation's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and 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 results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237116

FAQ

What is the size of the planned underground development at Treaty Creek for ACKRF?

The planned underground development consists of approximately 3,000 meters of exploration ramp targeting the Supercell One Zone.

How many ounces of gold equivalent are in Treaty Creek's current mineral reserve estimate?

The February 2024 Mineral Reserve Estimate shows 27.9 million ounces of AuEq averaging 1.19 g/t AuEq.

How many meters of drilling have been completed at the Supercell One Zone?

Over 10,000 meters of drilling have been completed at the Supercell One Zone to date.

What is the size of the planned year-round drilling program for the Supercell One Zone?

A 25,000-meter year-round drilling program is planned to focus on the Supercell One Zone and peripheral areas.

What deposit is the Supercell One Zone being compared to?

The Supercell One Zone is being compared to Newmont 's Brucejack gold deposit, discovered in 2010, due to structural and geological analogies.