Dakota Territory Resource Corp's Acquires Historic Geophysical Data in the Homestake District
Reno, Nevada, March 12, 2015 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp. (OTCQB: DTRC) ("Dakota Territory" or the "Company") is pleased to announce the acquisition of historic geophysical data for the northern Black Hills of South Dakota. Dakota Territory acquired this geophysical data from the University of Idaho, Moscow, Idaho; the South Dakota School of Mines & Technology, Rapid City, South Dakota; and United States Geological Survey, Lakewood, Colorado. These survey data were digitized and reprocessed by the Company's Geophysicist producing new maps that are now incorporated into Dakota Territory's research/exploration program.
Two of these historic gravity surveys were commissioned and sponsored by Homestake Mining Company in the 1980's and 90's under the direction of Dr. Allan Spector, Chief Geophysicist - Allan Spector and Associates Ltd of Toronto, Canada and Dr. Roland R. Reid of the University of Idaho, Moscow, Idaho. The objective of Homestake's geophysical program was to map the distribution of the Yates unit amphibolite (hornblende plagioclase schist) in order to identify the location of Proterozoic shear zones that developed at its contact with the overlying schist and phyllite. These shear zones are interpreted to control gold mineralization at the Homestake Gold Mine.
This work was proposed based on the known density differences in the stratigraphic sequence in the Homestake Mine area and District. Specifically, the Yates unit has an average density of 3.1 gram per cubic centimeter (g/cm3) compare to 2.7 g/cm3 for the surrounding phyllite and schist. Due to these rock density differences gravity surveys were found to be able to map the Yates unit in the sub-surface and infer the position of shear zones that acted as pathways for mineralizing fluids. Geophysical modeling of this data using the determined densities for the Yates unit and the surrounding schist indicate that the Yates unit amphibolite bodies can be up to 10 km in length and 2 km wide. New geophysical maps combined with historic drilling confirms that the western margin of the composite Yates body controls the distribution of shear zones in the Homestake Mine and are continuous through to the Blind Gold property.
Dakota Territory plans to continue the use of gravity geophysical surveys on the Company's 100% owned Blind Gold Property to identify Homestake-type gold drill targets under Paleozoic cover.
Richard Bachman, President and CEO of the Company commented: "We believe that this technology will assist in our current exploration activities in the district. The Company is excited by opportunities created by our on-going research program."
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
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.
