RAYMOND, AB, March 23 /CNW/ - American Creek Resources Ltd. (the
"Corporation") (TSX Venture: AMK) is pleased to announce that an intensive
exploration program has commenced on the Corporation's 100% owned Empire
Project located near Kamloops, British Columbia, Canada. The program will
consist of grid work, line cutting, soil and rock geochemical sampling, ground
geophysics including VLF and magnetometer surveys, and diamond drilling. Areas
of interest identified from the previously flown airborne geophysical survey
will be targeted first with drilling to begin on March 24. The budget for this
first phase of exploration is $800,000 and includes up to 5000 metres of BTW
core diamond drilling.
In light of the current market conditions within the exploration sector
in which equipment and experienced personnel are in extremely short supply,
American Creek management decided that in addition to contracting field
services, it was in the best interest of the Corporation to also secure its
own in-house essential equipment and complimenting personnel. The Corporation
has been able to secure and purchase its own diamond drill and related
equipment. An experienced drill crew has been hired and is presently on site
at the Empire Project. The Corporation has also ordered two additional diamond
drills with delivery expected within approximately 8 weeks. In addition to the
diamond drills and related equipment, American Creek has also purchased an
Overhauser walking magnetometer with VLF capabilities. Field crews are on the
Empire using the equipment now. An additional Overhauser unit as well as a
VIP-5000 induced polarization transmitter with an ELREC PRO induced
polarization receiver have also been purchased with delivery expected in
approximately 4 weeks.
In addition to the field geologists the Corporation currently retains,
American Creek has also contracted a senior geologist with considerable
expertise in the fields of geographical information systems, global
positioning systems, mapping, and geological structure to provide exploration
data management services for the upcoming 2007 programs.
The Corporation is eagerly anticipating the results of the Geoscience BC
geophysical airborne survey due to be made public in 1 week. American Creek
has significant mineral claim holdings within the area flown with 7 projects
(Empire, Austruck-Bonanza, Bullion, Goldmist, Vault, Lucky Dog, and the
Fortuosity) having a combined area exceeding 500 square kilometers being
covered by the survey. This government-funded program represents significant
cost savings to the Corporation and will directly contribute to the success of
the upcoming exploration programs.
Another interesting development affecting the Kamloops area projects is
the widespread pine beetle infestation that has occurred over the last few
years. Plans are underway for major salvage logging operations in the area
which will greatly benefit American Creek as new areas become more accessible
with new haul roads and skid trails being excavated. With each new access road
comes the potential for exposing and discovering new mineralized zones. Also,
new beetle related tax incentives just introduced by the BC government will
aid in attracting exploration capital to projects within those areas affected.
Perry Grunenberg, P. Geo. is the Empire Project manager and "Qualified
Person" for the purposes of National Instrument 43-101.
An exploration program is also being conducted on the Corporation's
Austruck-Bonanza Project. Further drill results are expected to be released
within approximately 2 weeks.
American Creek Resources Ltd. is a well funded Canadian mineral
exploration company focused on the acquisition, exploration and development of
gold and silver deposits.
American Creek's common shares trade on the TSX Venture Exchange under
the symbol "AMK".
Information relating to the Corporation is available on its website at
Certain information contained in this news release constitutes
forward-looking statements regarding the Corporation's mineral properties.
Forward looking statements are frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate" or statements
that certain events or conditions "may" or "will" occur. Forward-looking
statements are based on the reasonable opinions and estimates of management of
American Creek and are subject to a variety of risks, uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking statements. These factors include: the
inherent risks involved in the exploration and development of mineral
properties, uncertainties involved in the interpretation of drill results and
other geological data, fluctuating commodity prices, unforeseen permitting
requirements, changes in environmental laws or regulations, the possibility of
project cost overruns or unanticipated costs and expenses, weather conditions,
the availability of contractors for equipment and services, the availability
of future financing and general business and economic conditions. Such
statements are also based on a number of assumptions which may prove to be
incorrect, including assumptions about general business and economic
conditions being accurate, the timing and receipt of regulatory approvals for
projects and operations, the availability of financing, the ability to secure
equipment and labour, and American Creek's ongoing relationship with third
parties. The foregoing factors, risks and assumptions are not exhaustive.
Events or circumstances could cause actual events or results to differ
materially from those estimated or projected and expressed in, or implied by,
these forward-looking statements. Accordingly, readers should not place undue
reliance on forward-looking statements. These forward-looking statements are
as of the date they are made and American Creek disclaims any obligation to
update any forward-looking statements, except as required by law.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Darren R. Blaney, Chief Operating Officer, Tel:
(403) 752-4040; Fax: (403) 752-4020, Email: email@example.com