- P&E Mining Consultants Inc. Provides Drill Hole Spacing Recommendation for the 2020 Drill Plan.
Cardston, Alberta--(Newsfile Corp. - March 4, 2020) - American Creek Resources Ltd. (TSXV: AMK) (the "Company") is pleased to announce the results of gold-equivalent (AuEq) calculations for all drilling completed at JV partner Tudor Gold's ("Tudor") flagship project Treaty Creek. These calculations include credit for previously analyzed values for Cu and Ag. Geological analysis and reinterpretation of all the drill holes to date exposed a new copper horizon (CS 600 horizon) as well as significant silver and copper mineralization throughout the Goldstorm system.
The strongest AuEq increase was seen in the newly discovered NE Extension within the 300 Horizon. The gold-only result of 1.27 gpt Au over a 252 metre (m) interval increased to 1.51 gpt AuEq (with 13.8 gpt Ag and 504 ppm Cu), an increase of 18.9%.
All drill holes at Goldstorm Zone had significant increases to the composite results when the AuEq values for the copper and silver mineralization were included however when the drill holes intersected the CS-600 Horizon, the copper values within this mineralized body had the greatest impact to an individual horizon with up to 79.8% increase to the AuEq value from a gold-only 0.39 gpt Au over 150m to 0.70 gpt AuEq over the same 150m interval.
P&E Mining Consultants Inc. were retained to assess all Goldstorm drill hole results and historical data in order to render an opinion as to the consistency of the gold mineralization as well to ascertain the recommended drill hole spacing that would be required to potentially derive an Indicated Mineral Resource and a Measured Mineral Resource. P&E Mining Consultants Inc. concluded the following:
"Three dimensional continuity analyses of the Treaty Creek drill hole assay results were carried out for the Goldstorm Zone. The regional geological trend was used to guide the selection of horizontal, across-strike, and dip-plane directions during variogram fan analysis. Variogram fans were generated separately for Ag, Au, Cu, Pb, and Zn uncapped composite samples in each zone.
All modeled semi-variograms display a very low nugget effect, and display long range continuity down the plunge of the mineralization and along the regional strike of the deposits.
For the Goldstorm Zone, a drill spacing of 200 m is recommended for Indicated Mineral Resources, and 100 m for Measured Mineral Resources."
Tudor's goal is to design a diamond drill hole program that will fast-track the exploration program for 2020 with the objective to begin the Mineral Resource Estimate work as soon as possible.
Vice President of Project Development Ken Konkin P.Geo. comments: "We are very encouraged to see that the silver and copper mineralization has made an important impact to the AuEq results from our recent drilling as well as the historical drilling. The next step is to plan the drill hole program for the 2020 exploration season. We continue to work with our Mineral Resource Estimate geologists and engineers from P&E Mining Consultants to plan the drill hole program in order to optimize the drilling and to attempt to fast-track the exploration program for this coming drill season
Table l provides gold equivalent composites from the 2019 drilling and all historical drilling within the Goldstorm Zone. Table ll contains the drill data including collar location, depth of drill holes as well as the dip and azimuth for all drill hole.
TABLE l: Au Eq COMPOSITES GOLDSTORM ZONE
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