American Creek, Tudor eye Goldstorm expansion
American Creek Resources Ltd. [AMK-TSXV] on Tuesday released a second set of results from the 2021 resource expansion and definition drilling program that is targeting the Goldstorm deposit at its Treaty Creek joint venture project.
The Treaty Creek joint venture project is located in the Golden Triangle area of northwestern British Columbia. Tudor Gold Corp. [TUD-TSXV, TUC-Frankfurt] is the project operator and American Creek has a 20% fully carried project interest until a production notice is given.
The 17,913-hectare project borders Seabridge Gold Inc.’s [SEA-TSX, SA-NYSE] KSM property to the southwest and borders Pretium Resources Inc.’s [PVG-TSX] Brucejack property to the southeast. The past-producing Eskay Creek mine lies 12 kilometres to the west.
Exploration of the Treaty Creek area over the past 30 years by various junior companies has resulted in the discovery of a number of surface mineral showings, some with very high gold and silver values. However, it is only recently that drilling revealed the potential for a large-scale porphyry-style gold deposit at the Copper Belle and Goldstorm zones, which are located on trend and just five kilometres northeast of the KSM deposits.
The current area of focus is the Goldstorm zone, which contains 19.4 million ounces of 0.74 g/t gold equivalent (AuEq) in the measured and indicated resource category as well as 7.9 million ounces of 0.79 g/t AuEq of inferred resources. This year the company has said the focus will expand to also include the Perfect Storm zone, which has the structural, geological and geophysical features of the Goldstorm and other deposits in the region.
Exploration at Treaty Creek is ongoing at Goldstorm and Eureka zones with six diamond drills now fully crewed. Results have recently been received for nine holes.
Drilling highlights include an exceptional extension of the 300 Horizon and CS600 to the northeast in hole GS-21-113. It returned 972 metres of 1.265 g/t gold equivalent (AuEQ), including 456.0 metres of 1.352 g/t AuEq in the 300 Horizon, and 405 metres of 1.439 g/t AuEq in CS-600 in step-out drilling at the Goldstorm Deposit.
The Goldstorm Deposit remains open in all directors and at depth as drilling continues to define the limits of the 300, CS-600 and DS mineralized bodies.
Due to the recent success with the Goldstorm results, drilling at the Perfect Storm Zone has been delayed as all drills are required at Goldstorm to attempt to complete the planned drilling.
The company said it plans to continue drilling at Perfect Storm once the northeast limits of the Goldstorm Deposit have been delineated.
On Tuesday, American Creek shares rose 2.32% or $0.005 to 22 cents in light trading. The shares are currently trading in a 52-week range of 44 cents and 18.5 cents.
Tudor Gold shares advanced 2.4% or $0.06 to $2.52 and trade in a 52-week range of $4 and $2.01.