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Reno, Nevada, Jan. 7, 2015 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC) ( "Dakota Territory"or the "Company") is pleased to announce results from the Company'sfirst metallurgical test work from samples taken from its HomestakePaleoplacer Project in the northern Black Hills of South Dakota.
The objective of the test work is to determine gold recovery forHomestake Paleoplacer gold mineralization using conventionalcyanidation processes. Gold mineralization is hosted in aquartz-pebble conglomerate that was derived from the erosion of thefamous Homestake Gold Mine located 1 mile to the south whichproduced 40 million ounces of gold.
Initial metallurgical tests have been carried out by McClellandLaboratories, Inc. of Sparks, Nevada on five surface outcropsamples (composited into one sample) collected from the Gustin MinePortal Area on the Homestake Paleoplacer Property. The compositesample had an average grade of 2.05 grams per tonne gold. Goldrecovery of 94.7 % was obtained from a Bottle Roll Test P80 6.3mmFeed with reagent consumption of 0.141 kg/tonne NaCN and 1.678kg/tonne Lime.
The rate at which gold recovery occurred was excellent with59.9% gold recovery in the first 2 hours of leaching, 68.1% in 6hours, 72.8% in 12 hours, 85.2% in 24 hours, 93.5% in 48 hours,94.4% in 72 hours, and 94.7% in 96 hours.
Total silver recovery for the sample was 72.7%.
Richard Bachman, President and CEO of the Company commented: "These metallurgical test results are very encouraging and furthertesting is planned on higher grade components of the deposit".
About Dakota Territory Resource Corp
Dakota Territory Resource Corp. is a Nevada Corporation withoffices located at Reno, Nevada. Dakota Territory iscommitted to creating shareholder value through the acquisition andresponsible exploration and development of high caliber goldproperties in the Black Hills of South Dakota.
In terms of total historic US gold production, the Black Hillsranks second only to the Carlin District of northeast Nevada. Thegold production of the Black Hills is concentrated in a 100 squaremile area known as the Homestake District. Dakota Territorymaintains 100% ownership of three mineral properties including theBlind Gold, City Creek and Homestake Paleoplacer Properties, all ofwhich are located in the heart of the Homestake District and covera total of approximately 3,057 acres. The Blind Gold Property islocated approximately 4 miles northwest and on structural trendwith the historic Homestake Gold Mine. Through its 125 yearproduction history, the Homestake Gold Mine produced approximately40 million ounces of gold and is the largest iron-formation-hostedgold 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 focusedprimarily on the search for a repeat of the Homestake Mineproduction. This program successfully discovered significant newgold mineralization beyond the confines of the producing mine,demonstrating repeatability and the potential for additional golddeposits in the Homestake iron-formation host. This programalso proved the continuous extension of the Homestakeiron-formation to a distance of approximately 4 miles from theproducing mine and under the Blind Gold Property.
Dakota Territory Resource Corp is uniquely positioned toleverage Management's extensive exploration and mining experiencein the Black Hills of South Dakota with Homestake MiningCompany. For more information on Dakota Territory,please visit the Company's website at http://DakotaTRC.com/.
Investor Relations Contact: For more information, please contactDakota 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 depositsthat a company can economically and legally extract orproduce. Our property currently does not contain any knownproven or probable ore reserves under SEC reportingstandards. Our reference above to the various formations andmineralization believed to exist in our property as compared tohistorical results and estimates from other property in thedistrict is illustrative only for comparative purposes and is noindication that similar results will be obtained with respect toour property. U.S. investors are urged to consider closelythe disclosure in our latest reports filed with the SEC. Youcan 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 basedupon current expectations or beliefs, as well as a number ofassumptions about future events. Although we believe that theexpectations reflected in the forward-looking statements and theassumptions upon which they are based are reasonable, we can giveno assurance that such expectations and assumptions will prove tohave been correct. Forward-looking statements are generallyidentifiable 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 onthese words or comparable terminology. The reader is cautioned notto put undue reliance on these forward-looking statements, as thesestatements are subject to numerous factors and uncertainties,including but not limited to: adverse economic conditions,competition, adverse federal, state and local governmentregulation, inadequate capital, inability to carry out research,development and commercialization plans, loss or retirement of keyexecutives and other specific risks. To the extent that statementsin this press release are not strictly historical, includingstatements as to revenue projections, business strategy, outlook,objectives, future milestones, plans, intentions, goals, futurefinancial conditions, events conditioned on stockholder or otherapproval, or otherwise as to future events, such statements areforward-looking, and are made pursuant to the safe harborprovisions of the Private Securities Litigation Reform Act of 1995.The forward-looking statements contained in this release aresubject to certain risks and uncertainties that could cause actualresults to differ materially from the statements made. Readers areadvised to review our filings with the Securities and ExchangeCommission that can be accessed over the Internet at the SEC'swebsite located at http://www.sec.gov.
Source:Dakota Territory Resource Corp