American Creek Resources Ltd. [AMK-TSXV] said its joint venture partner Tudor Gold Corp. [TUD-TSXV, TUC-Frankfurt] has launched a 25,000-metre drill program at the Treaty Creek project in the Golden Triangle area of northwestern British Columbia.
American Creek holds a 20% interest in the Treaty Creek project, a rapidly maturing gold project that already contains a very large open-pittable and underground mineral resource.
Tudor Gold holds a 60% interest in Treaty Creek and is the project operator. The other 20% is held by Teuton Resources Corp. [TUO-TSXV].
Tudor Gold has commenced drilling at the Perfectstorm Zone as part of a 25,000-metre diamond drill program
Back in March, 2023, Tudor Gold announced an updated resource estimate for the Goldstorm Deposit at Treaty Creek. The new estimate pegs the indicated resource at 23.37 million ounces of gold equivalent (AuEq) within 641.93 million tonnes at a grade of 1.13 g/t AuEq. On top of that is an inferred resource of 7.35 million ounces of AuEq within 233.9 million tonnes at a grade of 0.98 g/t AuEq.
However, drill results are indicating the potential for significant expansion of the Goldstorm deposit Since the beginning of this year’s program, Tudor has successfully completed over 10,000 metres of drilling, within areas encompassing the Goldstorm Deposit and Perfectstorm Zone, which is located about 1.5 kilometres to the south Goldstorm.
Tudor Gold currently has six drill-rigs in operation with four of the six continuing to target mineralization at the Goldstorm deposit. An additional drill rig was mobilized to test the northeastern extents of Goldstorm, while a sixth if focused on Perfectstorm.
“Drilling at Perfectstorm will build upon the progress made through previous initial drilling of six wide-spaced drill holes spanning a strike length of 1.3 kilometres,’’ said Tudor Gold President and CEO Ken Konkin. “These holes successfully intercepted substantial widths of favourable gold, silver, and copper mineralization,” he said.
Notable results include hole PS-21-06, which returned 118.6 metres averaging 0.66 g/t gold. These results include the uppermost portion averaging 0.84 g/t gold over 59.9 metres. “Given that only a small portion of the targeted magnetic anomaly has been explored at Perfectstorm, there is immense potential for a significant expansion of the mineralized area, thus making it a valuable expansion to the Treaty Creek project,’’ Konkin said.
Meanwhile Tudor has decided to construct new drill pads up to 300 metres to the northeast of the Goldstorm Deposit. The aim is to target a potential expansion of the deposit with a fifth drill rig.
The company said it is drilling at full capacity with all six rigs.
Meanwhile, on September 27, 2023, American Creek shares closed at 12 cents. The shares trade in a 52-week range of 21 cents and 11.5 cents. Tudor Gold closed at 85 cents and trades in a 52-week range of $1.83 and 85 cents.