Reno, Nevada, July 30, 2014 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC) ("Dakota Territory"
or the "Company"), is pleased to announce that the Company
currently plans to commence its first drill programs in the
Homestake District of the Black Hills of South Dakota this
September. The Company's first holes will be drilled on the
Homestake Paleoplacer, a fossil gold placer deposit sourced from
the legendary Homestake Lode, located approximately one mile south
of Dakota's Paleoplacer Property. Between 1876 and 2002, the
Homestake Lode yielded just over 40 million ounces of gold valued
at $52 billion at today's $1,300 gold price.
In preparation for its planned programs, Dakota Territory has
engaged Dr. James E. Fox to provide his unique experience and
expertise in the targeting and execution of the Company's
paleoplacer drill program. In the late 1980's and early
1990's, Dr. Fox conducted pioneering geologic research in
association with Homestake Mining Company on the lower
stratigraphic units of Deadwood Formation, which hosts the gold
mineralization of the paleoplacer deposit. In his research with
Homestake Mining Company, Dr. Fox examined numerous rock outcrops
and the drill core from over 25 exploration holes that penetrated
the lower Deadwood strata within the Homestake District. Dr.
Fox's detailed core analysis revealed eight distinct sedimentary
facies of the lower Deadwood Formation, which are distinguished by
the unique association of compositional and textural properties,
sedimentary structures, and, occasionally, paleontological
features. Two of the sedimentary facies are exclusively correlated
to the high grade gold mineralization of the paleoplacer deposit
and, upon identification in the core, can be used to help direct
ongoing drilling operations designed to extend the core
mineralization of the paleochannel.
Richard Bachman, Dakota Territory's President and CEO stated "It
has been estimated that 10 million ounces were eroded from the
Homestake Lode, of which only 1.5 million ounces have been found
and mined to this date. In the mining business, it is
certainly a rare opportunity to have evidence supporting the
existence of a multi-million gold deposit located just over a mile
from its 40 million ounce source. We are obviously excited to start
drilling".
About Dr. James E. Fox
Dr. James E. Fox earned his Master's of Science Degree in
Geology from University of South Dakota, followed by his Ph.D. in
Geology from University of Wyoming in 1970. Dr. Fox began his
professional career as an exploration geologist with Texaco Inc.,
and in 1974, became a research scientist with the USGS mapping in
the Brooks Range of Alaska. In 1976, Dr. Fox joined the
academic ranks of the Department of Geology and Geological
Engineering, South Dakota School of Mines and Technology at Rapid
City, SD.
During his career at SDSM&T, Dr. Fox maintained his
affiliation with the USGS and participated in the assessment of
on-shore domestic petroleum resources of the Unites States and the
petroleum resources of Iraq and Saudi Arabia. As Chairman of
the Department, and Professor of Geology and Geological Engineering
at SDSM&T, Dr. Fox directed graduate student research
projects dealing with sedimentary geology, and petroleum geology of
the Powder River Basin, Black Hills and northern Rocky Mountain
region.
Dr. Fox has to his credit numerous publications summarizing the
results of his geological research, is certified as a Professional
Geologist by The Wyoming Board of Professional Geologists and
is currently Professor Emeritus of Geology and Geological
Engineering at SDSM&T.
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.
