RAYMOND, AB, Nov. 24 /CNW/ - American Creek Resources Ltd. (the "Corporation") is pleased to report that it has successfully completed the phase I drill program at the Ironmist Project located in south-central British Columbia, approximately 60 km north of Kamloops. An aggregate total of 658 meters of diamond drilling occurred in two separate zones: the Iron Ridge and Ironmist.
Drilling was designed to test the continuity of previously discovered vanadium-rich magnetite mineralization located on surface and within well-defined magnetic anomalies (see news releases dated August 15, 2008 and October 20, 2008).
All seven holes drilled intersected magnetite mineralization with several holes ending while still within magnetite-rich zones. Core logging took place on site with cutting and sampling to take place within the next few weeks. Once processed, the samples will then be submitted for assay.
The Ironmist Project is road-accessible and is close to major infrastructure such as highways, power and a rail line.
Highlights from initial surface rock sampling conducted in 2008 include:
43.5% iron with 0.40% vanadium
51.9% iron with 0.39% vanadium
47.3% iron with 0.35% vanadium
49.6% iron with 0.32% vanadium
43.9% iron with 0.33% vanadium
58.6% iron with 0.39% vanadium
61.7% iron with 0.38% vanadium
55.2% iron with 0.38% vanadium
As previously announced by the Corporation, all requirements under an option agreement that included the Ironmist property have been met (see October 8, 2009 news release). The Corporation now holds a 100% interest in the project (subject to an NSR royalty).
Raul Sanabria, P. Geo., is the Qualified Person for the purposes of National Instrument 43-101 for the Ironmist Project. Mr. Sanabria has verified and approved the contents of this news release.
American Creek Resources Ltd. is a Canadian 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE AMERICAN CREEK RESOURCES LTD.
For further information: For further information: please contact Darren Blaney at: Phone: (403) 752-4040, or Email: firstname.lastname@example.org. Information relating to the Corporation is available on its website at www.americancreek.com