Reno, Nevada, April 15, 2014 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC)
("Dakota Territory" or the "Company") is pleased to announce that
the Company has acquired the historic Deadbroke Mine sample data
collected by Homestake Mining Company in the 1970's through a
commercial use agreement with the Homestake Adams Research and
Cultural Center located in Deadwood, SD. The Homestake Adams
Research and Cultural Center hosts the 125-year record of
Homestake's mining activities in the Northern Black Hills of South
Dakota, including data sets and technical reports for the Homestake
Mine and other properties.
Dakota Territory's recently acquired Deadbroke Mine began
operations in the earliest days of the 1870's Black Hills Gold Rush
and continued to produce gold through the 1920's by underground
room and pillar methods at depths ranging from 100 to 200 feet
below surface. Gold mineralization at the Deadbroke Mine is
hosted in a flat lying quartz-pebble conglomerate similar to
Jacobina conglomerate gold mines of Bahia, Brazil.
In 1973, Homestake Mining Company entered into a mining lease on
the Deadbroke Property based on interest generated by a report
authored by Homestake Geologist, Ross R. Grunwald and entitled "Ore
Potential of The Deadbroke Mine and Other Northern Black Hills
Conglomerate Ores", a copy of which will be posted on the Company's
website. In 1974, Homestake dewatered the Deadbroke Mine and
conducted a comprehensive mine mapping and sampling program. A
total of 214 channel samples were collected by Homestake Geologists
from the perimeter of accessible stope and development headings, as
well as from pillars left in stopes. The average gold value for the
214 channel samples taken was 0.074 ounces per ton taken over an
average sample length of 6.0 feet (see Deadbroke Mine Map at
link/attachment). Remnant pillar sample values were considerably
higher at an average gold grade of 0.126 ounces per ton, including
a peak gold sample value of 0.750 ounces per ton taken from the
back at the south end of the mine workings. The higher sample
values obtained from pillars near the center of the production
headings is indicative of a higher grade core ore body surrounded
by a halo of lower grade mineralization that was apparently
marginal at the $20.67 per ounce gold prices that prevailed while
the Deadbroke Mine was in operation.
With the extensive historic data now available to Dakota
Territory, the Company has commissioned Brian Leslie Cole of
Vineland, Ontario, Canada to prepare an independent Preliminary
Technical Assessment Report in the form of National Instrument
43-101 on the Property.
In addition, Dakota Territory intends to conduct its first drill
program on its Paleoplacer Property during the summer of 2014.
The drill program has been designed to:
· Test the
extent and grade of gold mineralization surrounding the Deadbroke
Mine workings.
· Test the
extent and grade of gold mineralization surrounding the Gustin and
Minerva Mine workings that were not sampled by Homestake in the
1970's.
· Test the
extension of the higher grade core mineralization of the channel
from the Deadbroke Mine northward 1,800 feet to the discovery
indicated by Homestake Mining Company's historic drill programs of
the late 1980's.
Brian Leslie Cole, P. Geo, a Qualified Person and independent of
the Company, has reviewed and approved the technical disclosure
contained in this news release.
About Dakota Territory Resource Corp
Dakota Territory Resource Corp. is a Nevada Corporation with
offices located at Reno, Nevada. Dakota Territory is
committed to creating shareholder value through the acquisition and
responsible exploration and development of high caliber gold
properties in the Black Hills of South Dakota.
In terms of total historic US gold production, the Black Hills
ranks second only to the Carlin District of northeast Nevada, with
the gold production of the Black Hills concentrated in a 100 square
mile area known as the Homestake District. Dakota Territory
maintains 100% ownership of three mineral properties including the
Blind Gold, City Creek and Homestake Paleoplacer Properties, all of
which are located in the heart of the Homestake District and cover
a total of approximately 3,057 acres. The Blind Gold Property is
located approximately 4 miles northwest and on structural trend
with the historic Homestake Gold Mine. Through its 125 year
production history, the Homestake Gold Mine produced approximately
40 million ounces of gold and is the largest iron-formation-hosted
gold deposit in the world
In the 1980's and 1990's Homestake Mining Company undertook a
$70 million exploration program managed by Richard Bachman,
president and chief executive officer of Dakota Territory that was
focused primarily on the search for a repeat of the Homestake Mine.
This program successfully discovered significant new gold
mineralization beyond the confines of the producing mine,
demonstrating repeatability and the potential for additional gold
deposits in the Homestake iron-formation host. This program
also proved the continuous extension of the Homestake
iron-formation to a distance of approximately 4 miles from the
producing mine and under the Blind Gold Property.
Dakota Territory Resource Corp is uniquely positioned to
leverage Management's extensive exploration and mining experience
in the Black Hills of South Dakota with Homestake Mining
Company. For more information on Dakota Territory,
please visit the Company's website at http://DakotaTRC.com/.
Investor Relations
Investor Relations Contact: For more information, please contact
Constellation Asset Advisors, Inc. (775) 771-5808
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission ("SEC")
limits disclosure for U.S. reporting purposes to mineral deposits
that a company can economically and legally extract or produce.
Our property currently does not contain any known proven or
probable ore reserves under SEC reporting standards. Our
reference above to the various formations and mineralization
believed to exist in our property as compared to historical results
and estimates from other property in the district is illustrative
only for comparative purposes and is no indication that similar
results will be obtained with respect to our property. U.S.
investors are urged to consider closely the disclosure in our
latest reports filed with the SEC. You can review and obtain
copies of these filings at http://www.sec.gov/edgar.shtml.
Safe Harbor Statement
This release contains forward-looking statements that are based
upon current expectations or beliefs, as well as a number of
assumptions about future events. Although we believe that the
expectations reflected in the forward-looking statements and the
assumptions upon which they are based are reasonable, we can give
no assurance that such expectations and assumptions will prove to
have been correct. Forward-looking statements are generally
identifiable by the use of words like "may," "will," "should,"
"could," "expect," "anticipate," "estimate," "believe," "intend,"
or "project" or the negative of these words or other variations on
these words or comparable terminology. The reader is cautioned not
to put undue reliance on these forward-looking statements, as these
statements are subject to numerous factors and uncertainties,
including but not limited to: adverse economic conditions,
competition, adverse federal, state and local government
regulation, inadequate capital, inability to carry out research,
development and commercialization plans, loss or retirement of key
executives and other specific risks. To the extent that statements
in this press release are not strictly historical, including
statements as to revenue projections, business strategy, outlook,
objectives, future milestones, plans, intentions, goals, future
financial conditions, events conditioned on stockholder or other
approval, or otherwise as to future events, such statements are
forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The forward-looking statements contained in this release are
subject to certain risks and uncertainties that could cause actual
results to differ materially from the statements made. Readers are
advised to review our filings with the Securities and Exchange
Commission that can be accessed over the Internet at the SEC's
website located at http://www.sec.gov.
A photo accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=24759
