Reno, Nevada, Jan. 20, 2015 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC) ("Dakota Territory"
or the "Company") is pleased to announce that a surface sampling
program conducted at the historic Minerva and Gustin gold mines at
the Company's Homestake Paleoplacer Project in the northern Black
Hills of South Dakota has identified new areas of gold
mineralization.
Dakota Territory collected a total of 14 outcrop samples from
the paleochannel at the south end of the property. Gold assay
values ranged from 0.109 grams per tonne to 2.54 grams per tonne,
with an average gold assay value of 1.01 grams per tonne.
Additionally, the program discovered gold mineralization in a
quartz-pebble conglomerate block of Deadwood Formation that appears
to be faulted up to the surface at the eastern margin of the
Minerva mine. This gold mineralization had not been previously
identified by historic geological mapping of the property and
defines a new near-surface drill target approximately 200 meters
wide by 400 meters long east of the Minerva Mine.
Historically, the Minerva Mine produced gold by underground
methods at an average grade in the range of 10.0 grams per tonne
gold. Richard Bachman, President and CEO of the Company
commented: "The take away from our sampling is that we believe
there is a high grade component yet to be discovered east of the
Minerva Mine."
All program samples collected are point or grab samples from
rock outcrop. Sample size averaged 10.72 kilograms ("kg") in
weight, with none being less than 8.07 kg. Samples were
bagged and tagged in the field then retained in secure storage at
the Company's local field office until directly delivered to the
lab.
All sample preparation and fire assaying work has been performed
by American Assay Laboratories Inc. ("American Assay") in Sparks,
Nevada. American Assay is an
ISO 17025:2005 accredited laboratory. Samples were
fire assayed with a 1 assay ton (30 gram) aliquot with induced
coupled plasma ("ICP") finish. Internal laboratory quality
controls were relied upon for these reconnaissance-style
samples. These controls included re-runs and the insertion of
both blank and Standardized Reference samples.
Richard Bachman, Certified Professional Geologist, has
reviewed the technical disclosure contained in this news release
and is responsible for its content.
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. The
gold production of the Black Hills is 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 dollar exploration program managed by Richard Bachman,
President and CEO of Dakota Territory. The program focused
primarily on the search for a repeat of the Homestake Mine
production. 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
Dakota Territory Resource Corp (775) 747-0667
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.
