Reno, Nevada, Feb. 3, 2015 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC) ("Dakota Territory"
or the "Company") is pleased to announce that company has completed
an internal technical analysis of conceptual development plans for
the Homestake Paleoplacer Project in the northern Black Hills of
South Dakota. The technical analysis has been conducted in an
effort to develop a comprehensive project schedule, to identify
critical path project elements, to optimize surface and underground
drill programs and to test the potential economic viability of a
technically successful project.
The conceptual underground exploration/development plan is
centered on a 3 by 4 meter ramp system driven on a decline grade of
12% (1 meter of drop for every 8 meters of run). The ramp has been
designed to parallel the gold paleoplacer channel over a sinuous
strike length of 1700 meters to provide access for underground
definition drilling and bulk sampling programs. The Homestake
Paleoplacer gold mineralization lies on an unconformity surface
that dips to the north at approximately 6 degrees. Gold
mineralization outcrops at surface at southern end of the property
and has been tracked by drilling to a depth of approximately 210
meters below surface at the northern end of the property. The
physical characteristics of the channel are ideally suited to
selective mechanized mining methods developed and utilized at the
Homestake Mine.
Richard Bachman, President and CEO of the Company commented:
"Our management has a combined 44 years of mining and exploration
experience with Homestake Mining Company in the district.
That expertise is being brought to bear as we advance our projects.
The northern Black Hills area is home to numerous mining
professionals and some of best underground miners in the world."
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
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.
