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About American Creek Resources Ltd. (OTCQB: ACKRF)
American Creek Resources Ltd. is a Canadian junior mineral exploration company strategically focused on developing gold and silver properties in British Columbia, Canada. The company's flagship asset is its 20% fully carried interest in the Treaty Creek Project, a joint venture with Tudor Gold Corp., located in the prolific "Golden Triangle" region. This area is globally recognized for its exceptional mineral wealth, hosting some of the world's largest undeveloped gold and copper deposits.
Unique Value Proposition
American Creek's carried interest in the Treaty Creek Project offers a unique advantage to its shareholders. Under this model, the company incurs no exploration or development costs until a production notice is issued, allowing shareholders to benefit from the project's growth without the dilutive effects of ongoing capital expenditures. This structure positions American Creek as a low-risk entry point into one of the mining industry's most promising mega-deposits.
The Treaty Creek Project
The Treaty Creek Project is anchored by the Goldstorm Deposit, a massive gold-copper porphyry system with an Indicated Mineral Resource of 27.87 million ounces (Moz) of gold equivalent (AuEQ) at 1.19 g/t AuEQ and an Inferred Mineral Resource of 6.03 Moz AuEQ at 1.25 g/t AuEQ. The deposit remains open in all directions, highlighting its significant exploration upside. The project also includes the recently discovered Supercell-One Zone (SC-1), a high-grade gold system that has the potential to enhance the project's economic profile significantly.
Strategic Partnerships and Development
American Creek's partnership with Tudor Gold ensures expert management of the Treaty Creek Project. Tudor Gold, as the project operator, is advancing exploration and development initiatives, including extensive drilling programs, metallurgical testing, and environmental studies. These efforts aim to unlock the full potential of the Goldstorm Deposit and its associated mineral zones, including SC-1 and the CS-600 Domain.
Market Position and Growth Potential
American Creek is well-positioned within the competitive landscape of junior mineral exploration companies. Its exposure to the Treaty Creek Project offers investors a rare opportunity to participate in the development of a world-class mineral resource without the typical financial risks associated with early-stage mining projects. As exploration progresses and resource estimates are refined, the company's value proposition is expected to strengthen further.
Commitment to Sustainability
American Creek is committed to responsible mineral exploration and development. The company adheres to stringent environmental and regulatory standards, ensuring that its operations contribute positively to the local communities and ecosystems in British Columbia.
Conclusion
American Creek Resources Ltd. represents a compelling investment opportunity in the junior mining sector. Its strategic partnerships, innovative business model, and access to one of the world's most promising gold and copper deposits position the company for long-term success. As the Treaty Creek Project continues to advance, American Creek is poised to deliver significant value to its shareholders.
American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) has received a $300,000 cash signing fee payment from Cunningham Mining (CML) as part of their definitive arrangement agreement dated September 5, 2024. The companies are preparing documentation for American Creek's upcoming annual general and special meeting, where shareholders will vote on the statutory plan of arrangement with CML.
CEO Darren Blaney stated that the transaction is progressing timely. He also clarified that Eric Sprott's previous voting agreement with the company expired on July 31, 2024, meaning Sprott was not legally obligated to support the proposed arrangement. However, American Creek is pleased to have Sprott's full support and endorsement for this transaction.
American Creek Resources (TSXV: AMK) announced that its JV partner Tudor Gold has expanded a high-grade gold target at the Treaty Creek property in British Columbia's Golden Triangle. Drill hole GS-24-185 intersected 9.60 g/t AuEQ over 13.50 m within the Supercell-1C (SC-1C) zone, representing a 140m step-out from previous drilling. This expands the SC-1C zone by 255m up-dip and 140m along strike.
The Supercell-One system now includes three sub-parallel structures (SC-1A, SC-1B, and SC-1C) within an area measuring up to 800m in length by 400m in depth. All structures remain open in all directions. The 2024 exploration program at Treaty Creek has been completed, totaling 10,530 meters of drilling.
American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) has entered into a definitive arrangement agreement with Cunningham Mining (CML) for an all-cash acquisition valued at approximately $207 million. CML will acquire all outstanding shares of American Creek at $0.43 per share, representing a 274% premium to the closing price on June 5, 2024. The transaction, expected to close in late November or early December 2024, has unanimous board approval and support from key shareholders. The deal includes cash payments for in-the-money options and warrants. Upon completion, American Creek shares will be delisted from the TSXV. The acquisition is subject to shareholder, court, and regulatory approvals.
American Creek Resources announced results from the first four drill holes of the 2024 exploration program at its Treaty Creek project in British Columbia. The drilling targeted the newly discovered Supercell-One Zone (SC-1), revealing a high-grade gold system with three sub-parallel structures over an area measuring up to 800m in length by 400m in depth. Highlights include:
- Hole GS-24-183-W1: 13.89 g/t AuEQ over 6.30m
- Hole GS-24-181: 11.05 g/t AuEQ over 3.00m
- Hole GS-24-184: 8.09 g/t AuEQ over 6.15m
The results confirm the potential of the SC-1 Zone as a significant economic target within and expanding beyond the CS-600 Domain of the Goldstorm Deposit. The company aims to outline 2-3 million ounces of high-grade gold within the Supercell-One complex.
American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) has extended the exclusivity period for its non-binding letter of intent (LOI) with Cunningham Mining to September 5, 2024. This extension follows Cunningham's announcement of a US$153 million token subscription facility to fund the proposed acquisition of American Creek at $0.43 per share. The parties are now working on finalizing a Definitive Agreement.
CEO Darren Blaney praised Cunningham's recognition of American Creek's 20% carried interest in the Goldstorm deposit and the potential of the Treaty Creek Project. The proposed transaction still requires various approvals, including from shareholders, the Supreme Court of British Columbia, and the TSX Venture Exchange.
American Creek has announced that its joint venture partner, Tudor Gold, has outlined a strategic plan for the Treaty Creek gold and copper project in British Columbia's Golden Triangle. The plan includes completing 10,000 meters of diamond drilling initiated on May 9, 2024. This work aims to expand and upgrade the Mineral Resource Estimate reported in April 2024. Drilling results to date include significant gold findings, such as 15.00 meters at 15.64 g/t gold equivalent. The plan also includes advancing metallurgical studies, focusing on copper and gold recovery, and completing a Preliminary Economic Assessment (PEA) by Q2 2025. This PEA will guide future phases, including detailed prefeasibility studies and environmental permitting, ensuring the project's economic viability and regulatory compliance.
On June 6, 2024, American Creek Resources announced a non-binding Letter of Intent (LOI) with Cunningham Mining for a potential acquisition. Cunningham proposes to buy all issued and outstanding securities of American Creek at $0.43 Cdn per share, a 274% premium over the June 5 closing price. This transaction involves Cunningham acquiring American Creek's 20% interest in the Treaty Creek Property, which has significant gold resources. The LOI includes an exclusivity period until August 5, 2024, during which both parties will conduct due diligence and negotiate a Definitive Agreement. The arrangement is subject to shareholder, court, and regulatory approvals. The LOI also outlines potential fees if the transaction fails due to financing or superior proposals.
American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) announces the commencement of the 2024 exploration drill program at Treaty Creek Project in British Columbia by JV partner Tudor Gold. The program aims to expand and upgrade the Mineral Resource Estimate, focusing on high-grade gold targets in the Supercell One system.
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