Reno, Nevada, April 29, 2015 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC) ("Dakota Territory" or the "Company") is pleased to announce an update on the Company's on-going research of the Homestake gold deposit and its derivative paleoplacer in the Northern Black Hills of South Dakota.
In 1974, Dr. James J. Norton and the United States Geological Survey published Geological Survey Circular 699 that outlined the potential for repeating Homestake-style gold deposits within the district and proposed exploration techniques for discovering such deposits under the cover of the younger Paleozoic sedimentary and Tertiary igneous rocks that dominate the surface exposure north of the Homestake Mine. Among the conclusions of Dr. Norton's research was that Cambrian-age gold paleoplacer deposits are indicative of hidden Precambrian lode source gold deposits.
Dr. Norton summarized "Gold in the Deadwood basal conglomerate would be the simplest indicator of a deposit once exposed on the pre-Deadwood surface. The chief purpose of this paper is to argue that geologic investigation of the Deadwood Formation can direct the way to other Homestake-type deposits if such deposits exist beneath the Paleozoic rocks. Perhaps the Homestake is the only major gold deposit in the Black Hills, but existing evidence, some of it recently obtained but most of it long available and little noticed, indicates that areas of considerable potential have been only slightly investigated or totally neglected."
Dakota Territory, in conjunction with the Company's consultants Dr. Michael Terry and Dr. James Fox, has advanced Dr. Norton's investigations by incorporating data sets from both the primary lode deposit (Homestake) and its derivative paleoplacer. This work has produced modeling of the Precambrian surface at the time of Homestake lode erosional event approximately 570 million years ago, with the indicated topographical lows being most conducive to paleoplacer deposition.
Richard Bachman, President and CEO of the Company commented: "These investigations have greatly enhanced our understanding of the Homestake paleoplacer and other prospective paleoplacer horizons within the district. The on-going research is providing new insights that will be incorporated in our exploration drill programs."
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
Source:Dakota Territory Resource Corp