Teuton Resources Corp. (“Teuton”) (TSX-V: TUO) and American Creek Resources Ltd. (“American Creek”) (TSX-V: AMK) are pleased to release the first batch of assay results comprising 14 of 32 holes from the 2009 drill program conducted at the Treaty Creek Project located in northwestern British Columbia. A promising new VMS discovery containing several high grade intersections of gold, silver and base metals was made during extension drilling on the GR2 zone. Highlights include gold intersections as high as 5.44 g/t over 14.5 metres and silver intersections as high as 2,280.00 g/t over 0.50 metres. Drilling on the Copper Belle zone returned wide intervals of gold similar to those encountered in drilling conducted in 2007.
The 2009 Treaty Creek drill program consisted of 32 holes with a combined total of 9,519.50 metres of diamond drilling within four separate mineralized zones: GR2, Copper Belle, Treaty Ridge and Eureka. The table below summarizes highlights from the first 14 holes. It should be noted that true intersection widths are unknown at this time.
|Hole No #||From(metres)||To(metres)||Interval(metres)||Gold(g/t)||Silver(g/t)||Copper%||Lead%||Zinc%|
GR2 Zone – Background
The GR2 zone was one of the targets drilled during the 2007 exploration program. A highlight from 2007 drilling on the GR2 zone is hole TC07-24 which intersected 6.80 meters of 1.40 g/t gold with 93.95 g/t silver and 0.27% copper, 4.41% lead and 2.59% zinc within a silicified breccia and stringer zone on the immediate contact with black fossiliferous mudstones and sandstones of Jurassic age. Drill hole TC07-12 intersected a 1.27 meter interval of 0.63 g/t gold with 340.0 g/t silver, 0.10% copper, 4.61% lead and 4.62% zinc. The zone is equivalent to the previously mentioned interval in hole TC07-24 along strike toward the north.
Host rocks, alteration and pathfinder geochemistry indicated that the GR2 zone had the potential for a VMS discovery. The 2009 drill program was designed to follow up testing known mineralization discovered in 2007 along strike towards the northeast, the southwest and down dip.
GR2 Zone – 2009 Drilling
Hole GR2-09-01 was drilled to test the continuity of three different sub-parallel mineralized structures interpreted from 2007 drill-core. The target was the extension down dip of the lowest mineralized interval in hole TC07-24. The hole was collared 50m behind the 2007 drill-pad, falling in the same section (azimuth 150° and dip -70°). Significant intersections include 0.50 metres @ 2,280.00 g/t silver from 89.45 to 89.95 metres in a galena-rich vein, and 2.20 metres @ 8.23 g/t gold from 332.8 to 335.0 metres in a silicified zone within the lowest mineralized zone (footwall fault zone).
Hole GR2-09-02 was drilled to test the continuity of the mineralized structure below the lowest mineralized interval in holes TC07-24 and GR2-09-01 down-section. The hole was collared on the same pad as hole GR2-09-01 continuing the same section right under the mentioned hole (azimuth 150° and dip -80°) to a total depth of 448.0 metres. Significant intersections include 9.1 metres @ 2.83 g/t Au from 368.5 to 377.6 metres (including 1 metre @ 8.45 g/t Au from 368.5 to 369.5 metres; 1.7 metres @ 6.55 g/t Au from 372.5 to 374.5 metres and 0.80 metres @ 6.23 g/t Au from 376.8 to 377.6 metres). Other mineralized polymetallic veins returned values of 1 metre @ 112.0 g/t Ag, 2.25% Pb and 2.79 % Zn from 313.5 to 314.5 metres.
Hole GR2-09-03 was initially drilled to test the extension of the known mineralized structure towards the northeast. The hole was initially designed to stay away from the fault that offsets the lowest mineralized interval found in holes TC07-12, equivalent to the extension of the mineralized zone in hole TC07-24 (along strike towards the northeast), and TC07-14. The hole was drilled from the same pad as GR2-09-01 and GR2-09-02 with an azimuth of 125° and dip -60° to a depth of 271.27 metres. Significant intersections included 0.60 metres @ 229.35 g/t Ag from 74.9 to 75.5 metres; 1.6 metres @ 3.31g/t Au and 82.92 g/t Ag from 188.0 to 189.6 metres (including 0.50 metres @ 4.50 g/t Au, 208.0 g/t Ag, 0.12% Cu, 1.81% Pb and 0.54% Zn from 189.1 to 189.6 metres). Other mineralized zones include 0.90 metres @ 0.93 g/t Au, 178 g/t Ag, 0.15% Cu, 5.62% Pb and 3.69% Zn from 214.0 to 214.9 metres.
Hole GR2-09-04 was collared 45 metres southwest of the previous drill-pad (Holes GR2-09-01, 02 and 03), and along strike with the known mineralized zones. The hole was drilled with an azimuth of 150° and dip -55°. The purpose of the hole was to start a section parallel to the previous one (Holes TC07-27, 26, 24, 18, GR2-09-01 and 02) along strike, towards the southwest. The unit hosting bedded sulphides in mudstones was interpreted to be better developed toward the southwest, and also sericite-carbonate-pyrite alteration of the host rock seemed more intense in that direction. The hole was stopped at 313.06 metres. The hole intersected a broad mineralized zone from 244.0 metres to 270.65 metres that included the following significant intersections: 0.40 metres @ 1.80 g/t Au, 222.0 g/t Ag, 1.0% Cu, 4.73% Pb and 3.65% Zn from 244.4 to 244.8 metres. Also 3.90 metres @ 0.474 g/t Au, 146.1 g/t Ag, 3.81 % Pb and 2.18% Zn from 256.2 to 259.2 metres, followed by 11.45 metres @ 2.25 g/t Au from 259.2 to 270.65 metres (including 7.9 metres @ 2.93 g/t Au from 261.1 to 269.0 metres which includes 1.0 metre @ 11.0 g/t Au from 268.0 to 269.0 metres).
Hole GR2-09-05 was collared from the same pad as hole GR2-09-04, and falls below that hole to continue the section down at depth. The hole was drilled with an azimuth of 150° and dip -65°. The hole was stopped at 347.72 metres. Narrow mineralized stringer veins were found in equivalent position to the lower mineralized zone encountered in previous holes.
Hole GR2-09-06 was collared from the same pad as holes GR2-09-04 and 05, and falls below them to continue the section down at depth. The hole was drilled with an azimuth of 150° and dip -75°. The hole was stopped at 384.05 metres. Significant mineralized intervals included 0.70 metres @ 0.83 g/t Au, 351 g/t Ag, 16.32 % Pb and 9.34 % Zn from 273.9 to 274.6 metres.
Hole GR2-09-07 was initially drilled to test the extension of the known mineralized structure towards the northeast after the positive intersection of hole GR2-09-03. The hole was initially designed to stay away from the fault that offsets the lowest mineralized interval found in holes TC07-12 and TC07-14 and is also present immediately below the mineralized zone found in hole GR2-09-03. The hole was drilled from the same pad as holes GR2-09-04, 05 and 06 with an azimuth of 82° and dip -55° with the aim of intersecting the same silicified zone 75 metres further north from the intersection of hole GR2-09-03. The hole was stopped at 317.0 metres after intersecting 14.5 metres @ 5.44 g/t Au (including several high grade intervals within it: 1.50 metres @ 17.29 g/t Au that includes 0.40 metres @ 27.50 g/t Au).
Copper Belle Zone – Background
The Copper Belle is a bulk-tonnage type gold-copper-molybdenum porphyry deposit located at the toe of the Atkins Glacier, hosted in andesitic volcanic flows and breccias, and minor feldspathic sandstones. Mineralized altered quartz monzonite was intersected in core during the 2007 drill program. Highlights from 2007 drilling on the Copper Belle zone included intersections of 0.93 g/t gold and 8.78 g/t silver over 76.07 metres; 0.76 g/t gold and 4.91 g/t silver over 70.57 metres; 0.83 g/t gold and 6.39 g/t silver over 46.23 metres; and 0.81 g/t gold and 3.80 g/t silver over 65.0 metres. High grade intervals included 22.6 g/t gold over 2.0 metres; 4.33 g/t gold and 2.0 g/t silver over 17.0 metres; 1.61 g/t gold and 13.34 g/t silver over 16.07 metres; 1.58 g/t gold and 27.43 g/t silver over 8.50 metres, and 1.32 g/t gold with 5.93 g/t silver over 30.18 metres in strongly potassic-altered volcanic breccias.
Copper Belle – 2009 Drilling
Significant intersections included hole CB-09-06 with 65.30 metres @ 0.84 g/t Au from 4.7 to 70.0 metres (including 43.30 metres @ 0.91 g/t Au from 4.7 to 48.0 metres) and hole CB-09-07 which intersected 100.0 metres @ 0.504 g/t Au from 15.0 to 115.0 metres (including 60.0 metres @ 0.67 g/t Au from 15.0 to 75.0 metres).
Treaty Ridge zone
The Treaty Ridge zone is a new target located in the northern part of the property. It is characterized by the presence of a strong EM conductor in a mudstone formation on top of a bimodal volcanic sequence comprised of basalts and dacite-rhyolite (Mount Dilworth formation) rocks of submarine origin. Drainages from this unit reported strong values of zinc and silver in silt samples. The age of the unit is coincident with the age of the nearby Eskay Creek deposit. The Treaty Ridge area was studied in detail by Lewis (1993) and the different formations found were dated using fossil collections. The holes were collared stratigraphically above the mentioned mudstone formation and stopped in the rhyolite-dacite formation. Although no significant gold or silver intersections were encountered in initial 2009 drilling, all three holes intersected several tens of metres of pyritic mudstones, appearing as thin beds of detrital pyrite, presumably of turbiditic origin. In the lower part of the holes, the beds also included very fine tuffaceous sandstone beds (pyjama beds) grading from cherty-pebble conglomerates immediately below. The Treaty Ridge zone will continue to be an area of focus in future exploration.
Treaty Creek QA/QC
All 2009 Treaty Creek drill holes were surveyed using a down-hole EZ-Shot probe to monitor drill hole deviations. All 2007 and 2009 drill collars were surveyed by a certified independent surveyor, using a Leica GS50 differential GPS with <10cm precision. The QA/QC protocol system employed during the 2009 exploration program included procedures for monitoring the chain-of-custody of samples and the insertion of blanks and reference standard samples in every batch of samples. Cross-check analyses were conducted at a second external laboratory (ALS Chemex laboratories in Vancouver, BC) from blind duplicate samples. Drill core samples are being assayed at Eco-Tech Laboratory Ltd., in Kamloops, BC using fire assay and atomic adsorption finish methods for gold, aqua regia digestion with ICP finish methods for other elements, and ore grade aqua regia digestion with AA finish for specific mineralized intervals. Specific gravity for density measurements is also being determined in the assay procedures.
American Creek holds a 51% interest in the Treaty Creek Project with Teuton holding the remaining 49%. Under the terms of the Option Agreement with Teuton, American Creek has elected to earn an additional 9% interest (for an aggregate total of 60%) by making all expenditures necessary to bring the project to feasibility. American Creek is the operator of the project. Exploration activities are being conducted by American Creek personnel under the supervision of Raul Sanabria, M.Sc., EurGeol., P.Geo., Vice President, Exploration.
The Treaty Creek Project is located directly north of and adjacent to the KSM project held by Seabridge Gold Inc. (SEA:TSX, SA:NYSE)). Seabridge has reported that the KSM deposit is now one of the largest undeveloped gold/copper deposits in the world. The proposed development concept for the KSM deposit includes constructing twin tunnels through the Treaty Creek property. Seabridge presently has no legal interest in the Treaty Creek mineral claims.
The remaining 2009 Treaty Creek assays are expected to be received and released within the next 30 days.
Raul Sanabria, P. Geo., is the Qualified Person for the purposes of National Instrument 43-101 for the Treaty Creek 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.
Teuton Resources Corp. is a Canadian exploration company focused on the Stewart region of northwestern British Columbia since 1982; it is currently the largest landholder in the district.
For further information on American Creek please contact Darren Blaney at: 403 752-4040 or email: firstname.lastname@example.org. Information relating to the Corporation is available on its website at www.americancreek.com.
For further information on Teuton, please contact Gary Assaly at: 800-879-2333 or email: email@example.com. Information relating to Teuton is available at its website: www.teuton.com 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.
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