RAYMOND, AB, Aug. 14 /CNW/ - American Creek Resources Ltd. is pleased to
report that preliminary exploration on the Goldmist Project in south central
British Columbia has resulted in the discovery of several promising iron ore
The program, which focused on a very large magnetic anomaly identified in
a previously flown airborne geophysical survey, resulted in the discovery of
massive parallel magnetite seams and pods, some of which exceeded 1 meter in
width, with up to 15 meters of surface exposure. Magnetite disseminations,
seams and pods appear to be associated to a skarn mineralization (grossular
skarn, epidote-albite skarn) in the contact of intrusive gabbros and diorites
with carbonate rich volcaniclastic and sedimentary rocks of the Harper Ranch
formation. The iron mineralization occurs as massive replacements, seams and
pods, averaging 60-80% Magnetite, and is developed mostly in the endoskarn.
A ground magnetic survey (portable magnetometer), utilizing 25x25 meter
sample spacing, revealed three well defined magnetic zones that correspond
with surface exposure and soil anomalies. All three zones, the Iron Ridge
(650x250 meters), the Iron Mist (240x300 meters), and the Irony
(550x250 meters) have the potential to host an iron deposit. The Iron Ridge
and Iron Mist areas also show anomalous high values in Vanadium ((greater
than)500ppm) and Titanium ((greater than)0.25%) as detected in soil samples.
Preliminary assay results from chip and grab samples taken on the Iron Mist
zone also showed elevated levels of Vanadium (up to 0.41 % vanadium oxide).
The Corporation will be submitting a permit application to the Ministry
of Mines for a contemplated fall drill program on the Goldmist Project.
Raul Sanabria, M.Sc., EurGeol., is the "Qualified Person" for the
purposes of National Instrument 43-101 for the Goldmist Project. Mr. Sanabria
has reviewed the contents of this news release.
The Corporation is also pleased to report that field programs have
commenced on the White Slide, Legacy, and Electrum Projects. The programs
consist of mapping, geochemical sampling and magnetometer and IP ground
geophysics in certain areas of interest. A similar program is expected to
begin on the Treaty Creek Project in approximately two weeks.
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.
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: Kelvin Burton, Phone: (403) 752-4040, Fax:
(403) 752-4020, or Email: firstname.lastname@example.org; Information relating to
the Corporation is available on its website at www.americancreek.com