Vancouver, British Columbia, April 28, 2011 - Quanto Independent Equity Research has initiated coverage for American Creek Resources (TSXV:AMK) (OTC:ACKRF) and gives the company a speculative buy recommendation.
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The following information has been taken from the Quanto Research report.
American Creek is a Canadian junior exploration company with a number of promising silver-gold projects in British Columbia, Canada. Two of these properties are in BC's Golden Triangle, a mining hot spot that is home to many of the largest mining projects in the world.
The company is focused on its silver Electrum property, located in an area which has produced more than a half dozen commercially producing mines and has many of the world's largest deposits moving toward feasibility. These include Teck/Nova Gold's Galore Creek, Seabridge's KSM, Copper Fox's Schaft Creek, Imperial Metal's Red Chris and Pretium's Snowfield & Brucejack projects.
The Electrum property is located in a valley with 4 past producing commercial mines, with a 5th in the adjacent valley. The property hosts a historic mine that produced approximately 46 tonnes of hand-cobbed ore with an average grade of 1,661 grams per tonne gold and 2,596 grams per tonne silver.
The Electrum property already has exceptional logistics in place with a road right to the property, along with power, a shipping port, and a supportive town nearby.
Previous exploration by American Creek has confirmed high grade silver and gold both on surface and at depth. American Creek will be operating a program on the Electrum property this year to help define the extension of surface length and extension at depth of the precious metal mineralization.
The company also holds a 51% share of the Treaty Creek property, which has been involved in a lawsuit. If American Creek wins the lawsuit, as they have indicated they expect to, it should provide an immediate catalyst to move the stock price higher.
The company currently trades at $0.14. Although Quanto hasn't set a target price at this time, they wrote "With management's indication that they will commence a drill program on Electrum this season it is very possible that the investment community will be reminded of the enormous potential value of this property and push the share price higher. It is important to note that in 2007, the last year that American Creek conducted drilling on Electrum, the stock price reached a peak of $2.59.When American worked on the Electrum property in 2006 and 2007, silver prices were at $7 to $8. Now prices are above $40 and pushing higher. The Electrum property is rich in silver and the value and interest in it should increase accordingly" .
There is far too much information in the report to cover here, so be sure to visit their website at www.americancreek.com (http://www.americancreek.com/) to obtain a full copy of Quanto's research report or phone Darren Blaney at 403-752-4040, or email dblaney@americancreek.com (mailto:dblaney@americancreek.com).
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Source: InvestmentPitch via Thomson Reuters ONE
