American Creek Resources Ltd. ("American Creek") is pleased to report that its JV partner, Tudor Gold Corp. ("Tudor") has commissioned a comprehensive Magnetotelluric survey ("MT survey") on the Treaty Creek Property located immediately adjacent to Seabridge Gold's KSM project in the "Golden Triangle" of NW British Columbia 75km north of Stewart.
American Creek and Tudor recently entered into a joint venture agreement with Tudor holding a 60% interest and American Creek and Teuton Resources Corp. each holding 20% carried interests in the project. Tudor is the operator.
The survey, already in progress, is being run by Simcoe Geoscience Ltd. using the same geophysicist that designed, ran, and interpreted MT surveys on the adjacent KSM and Brucejack projects owned by Seabridge Gold and Pretivm Resources respectively. The program is also using the same equipment and technology that continues to be used with great success on the adjoining properties.
MT surveys, a geophysical technique that measures fluctuations in naturally-occurring electrical and magnetic fields, have been used extensively by Seabridge and Pretivm to assist them in discovering and developing new deposits. The Deep Kerr, Lower Iron Cap, Mitchell at Depth, and extensions of Deep Kerr deposits are some of the discoveries within Seabridge's KSM project where MT technology was utilized in discovering and in developing drill targets for these core zones. Pretivm Resources, whose deposits (Snowfield/Brucejack/Valley of the Kings) are adjacent to the KSM, has also had great success using MT technology in the discovery and development of their deposits. This confirms the reliability and accuracy of MT technology within the large hydrothermal system encompassing the KSM, Snowfield/Brucejack, and Treaty Creek projects. This hydrothermal system is one of the largest in the world with the southern half being shared by Pretivm's deposits on the east and Seabridge's deposits on the west. The northern half of the system extends through the Treaty Creek property.
In 2011, Seabridge commissioned a single line array MT survey through the Treaty Creek property to cover their proposed tunnel route as part of their KSM development plan. The exploration objective was to detect porphyry-rich mineralization and/or associated alteration zones to depth and to establish an understanding of the geological system and fluid pathways to great depth within the KSM survey area. The survey was successful in discovering potential porphyry-rich mineralization and/or associated alteration zones to depth as it revealed a large conductive body at depth which extends upward to the surface between MT sites 214 and 216. This area contains gossanous outcrops along with surface mineralization and also includes the previously explored Orpiment zone. The survey also shows a more prominent feeder extending over 3km from the large conductive body at depth. This feeder is approximately 750m wide and extends to the location of the Copper Belle zone where another large conductive body (less than 200ohm-m) appears on the survey starting between MT sites 208 and 209. The northeast tip of Copper Belle, a bulk-tonnage type gold-copper-molybdenum porphyry, appears to be located at the northeast tip of this low resistive anomaly. The drilling that American Creek conducted in 2007 and 2009 (prior to the MT survey) at Copper Belle was primarily between MT sites 209 and 210 and therefore did not intersect the MT anomaly, however hole CB-14 (the closest hole to the anomaly) carried 0.8g/t gold over 241m and ended in mineralization.
The MT anomalies on the Treaty Creek property have a direct correlation with magnetic highs. A large magnetic anomaly starts precisely where the MT anomaly near Copper Belle begins. Both the MT survey, and a previously conducted Mag survey on Treaty Creek, independently suggest the possibility of a metallic deposit in porphyry form. When the two correlate with each other so perfectly it is referred to as a "strong contact". The extent of the MT anomaly will remain unknown until the current MT survey is complete, but the magnetic high directly associated with it covers approximately nine square kilometers.
Simcoe Geoscience Ltd. is currently running an extensive 3D survey that covers all the areas of known mineralization on the Treaty Creek property. This will reveal the extent of the existing MT anomalies in far greater detail, and potentially reveal new anomalies, giving Tudor the same type of insights that have contributed to the discoveries on the Seabridge and Pretivm properties within the same hydrothermal system.
Tudor is also planning to commence drilling at Treaty Creek within the next week.
Darren Blaney, American Creek's President & CEO, stated: "We are very much looking forward to the advancement of the Treaty Creek project and are pleased that Tudor is now on the property and that work is commencing. The exact same MT survey technology presently being employed by Tudor at Treaty has been the key to the recent world class discoveries that have been made by both Seabridge and Pretivm to our south. Our shareholders have been anticipating this event for quite some time and now their patience and support will be rewarded."
An updated link with more information regarding the MT survey and the Treaty Creek property can be found on the American Creek website homepage.
American Creek Resources Ltd. is a Canadian junior mineral exploration company focused on the acquisition, exploration and development of mineral deposits within the Province of British Columbia, Canada.