Reno, Nevada, Feb. 19, 2015 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC) ("Dakota Territory" or the "Company") is pleased to announce results from the Company's first-pass heavy mineral stream sampling program conducted on False Bottom and Tetro Creeks at the Company's 100% owned Blind Gold Property in the Black Hills of South Dakota. The two creek drainages generally flow from south to north transecting approximately three kilometers of Dakota Territory's Blind Gold Property. Significant gold was noted in both the False Bottom and Tetro drainages, with a peak gold value of 6.230 grams per tonne (gpt).
Dakota Territory commissioned the survey on the Blind Gold Property to establish the occurence of gold in the drainages thereby indicating the presence of a lode source on the Property. The drainages were panned by a qualified technician to visually establish the presence of gold, with panned concentrates retained for assay analysis to confirm field observations. A total of 17 program samples were assayed, all of which returned anomalous gold values as follows; 2.100 gpt, 1.170 gpt, 0.315 gpt, 0.285 gpt, 0.171 gpt, 0.174 gpt, 0.176 gpt, 0.168 gpt, 0.158 gpt, 0.135 gpt, 0.079 gpt, 6.230 gpt, 0.111 gpt, 0.109 gpt, 2.450 gpt, 0.063 gpt, and 0.038 gpt.
The results of Dakota Territory's first-pass drainage sampling program have conclusively established the presence of gold in the major drainages of the Blind Gold Property and also serve to validate historic samples collected by Homestake Mining Company from a 700 meter section of False Bottom Creek that produced gold values of 1.500 gpt, 0.120 gpt, 17.200 gpt, 0.110 gpt, 0.150 gpt, 1.000 gpt, 0.180 gpt, 3.960 gpt, 0.310 gpt, 0.418 gpt, 0.0.150 gpt, 1.250 gpt and 0.240 gpt.
Dakota Territory's samples were bagged and tagged in the field and retained in secure storage at the Company's local field office until delivered to the laboratory for assay. 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 2 assay ton (60 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 a Qualified Person 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 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.
Source:Dakota Territory Resource Corp