American Creek discovers promising iron ore targets on Goldmist Project
Friday, August 15th 2008
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 targets.
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 25×25 meter sample spacing, revealed three well defined magnetic zones that correspond with surface exposure and soil anomalies. All three zones, the Iron Ridge (650×250 meters), the Iron Mist (240×300 meters), and the Irony (550×250 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.
