Reno, Nevada, Sept. 24, 2014 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC) ("Dakota Territory" or the "Company") is pleased to announce assay results from the Company's first surface sampling program conducted on its 100% owned Blind Gold Property in the northern Black Hills of South Dakota. The program identified a zone of high grade gold mineralization in the Mississippian-age Pahasapa Limestone on surface, with a peak gold assay value of 9.44 grams per tonne.
The Company's first pass surface sampling program was focused on tertiary-aged gold mineralization in the younger sedimentary and intrusive formations that cover Dakota Territory's primary targets at the Blind Gold Property, which are hosted in the underlying Homestake Iron-Formation. A total of 37 grab and pick samples were collected across the Blind Gold Property, with the most notable results returned from 14 samples taken in close proximity to historic workings located to the east of Tetro Rock at the center of the property:
|Tetro Rock Area Assay Results|
|Sample Number||Location||Rock Type||Gold (grams/tonne)|
|Note: Peak gold values greater than 1.0 grams per tonne are italicized.|
The historic workings in the Tetro Rock area include numerous pits, trenches and shallow adits excavated over a horizontal distance extending approximately 540 meters along the indicated North - South trend of mineralization. Samples collected by Dakota Territory were taken from the outcrop and dumps created by the historic mining activity over the entire length of the trend. Gold mineralization in the Tetro Rock area appears to be hosted in flat lying, silicified layers of Pahasapa Limestone that have been cut by vertical fissure veins proximal to a Tertiary-aged Phonolite laccolith. Nearly 5 million ounces of gold has been produced from Tertiary-aged gold deposits in the Homestake District. Such deposits are most commonly hosted in the Deadwood Formation; however, significant historic gold production has been realized from similar deposits hosted in the Pahasapa Limestone at Carbonate Camp, located approximately 5 kilometers to the west of the Blind Gold Property.
All program samples collected are point or grab samples from in situ rock outcrop, dumps from historic workings, or float. Sample size averaged 2 kilograms ("kg") in weight, with none being less than 1.3 kg. Samples were bagged and tagged in the field then retained in secure storage at the Company's local field office until shipment. Shipment was by Fedex to Sparks, Nevada.
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.
Brian L. Cole, P. Geo., has reviewed the technical disclosure contained in this news release and is a Qualified Person independent of the Company.
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 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.
Source:Dakota Territory Resource Corp