American Creek Resources Ltd. said Oct. 3 that it is acquiring a private company that owns a property package located in the "Golden Triangle" of British Columbia that includes the past-producing Dunwell gold-silver mine.
Dunwell produced 45,657 tonnes between 1926 and 1937, averaging 6.63 g/t of gold, 223.91 g/t of silver, 1.83% lead, 4.01% zinc, and 0.056% copper.
In exchange for the company, American Creek will issue 7,000,000 of its shares. The property package that the company owns consists of 850 hectares of mineral claims.
The vendor retains a 2% net smelter return royalty, of which American Creek can purchase 1% at any time for C$2.0 million.