Reno, Nevada, March 5, 2015 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC) ("Dakota Territory" or the "Company") is pleased to announce an update on the Company's research program on the gold mineralization of the Homestake Deposit in the Black Hills of South Dakota. Dr. Michael Terry, Dakota Territory's principal researcher, has for the first time established a spatial correlation between the gold ore bodies of the Homestake Deposit and ductile shears zones that transect the Poorman - Homestake - Ellison stratigraphic sequence at the location of the 40 million-ounce Homestake Gold Mine. The new deposition model provides a solution that has eluded past research efforts to define plausible pathways for the mineralizing fluids that deposited gold in the Homestake Formation at 1.74 billion years ago. This work is built upon and is corroborated by the historic data and voluminous research conducted on the deposit over the past century.
The Homestake iron-formation is the exclusive host for gold mineralization at the Homestake Mine; due in large part to the rheological contrast that exists between the more brittle Homestake Formation and the more ductile footwall and hanging wall rocks. Because of its more brittle nature, the effect of folding and shearing increased the permeability of the Homestake iron-formation to a greater extent, providing both an efficient pathway for mineralizing fluids and a near-perfect structural host for gold deposition.
While the importance of stratigraphy as an ore control has long been understood, Dr. Terry's new research has been focused on the understanding of bulk regional deformation and its application to local structural analysis which indicates that gold mineralization at the Homestake Deposit is controlled by the intersection of two major shear systems generated during the highly transpressional phase of the Black Hills Orogeny. Additionally, the Yates (meta-basalt) unit of the Poorman formation is viewed as the most significant structural control at the District scale because the voluminous Yates unit acted as a regional "hard knot," buffering strain and controlling folding and shearing in the bounding rocks. More specifically, the Yates unit controlled the location of shear zones within the Homestake Mine and that influence is predictable.
This research is being integrated into the exploration on the Blind Gold Property were shear zones, the Homestake iron-formation host, and the shear controlling Yates unit have been recognized. Quantitative deformation models developed at the site of the Homestake Deposit are being extrapolated to target drilling at the Blind Gold Property where similar deflections in shear zones and Homestake Formation have been noted.
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