Reno, Nevada, July 23, 2020 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (OTCQB: DTRC) ("Dakota Territory" or the "Company"), is pleased to announce that the Company has substantially increased its land holdings in the Black Hills of South Dakota through the staking of 166 unpatented lode mining claims covering approximately 3,152 acres located immediately north and adjacent to the Company’s City Creek Property. The project area was first expanded in 2018 on the basis of inversion modeling of historical geophysical survey data. Subsequent reconnaissance and preliminary analysis of new geophysical data appear to indicate underlying shear fabric on a similar orientation with the productive structural corridor north of the Homestake Mine that is believed to be associated with the transmission of fluids responsible for iron-formation hosted gold mineralization in the District.
The City Creek Property is comprised of a combination of patented and unpatented mining claims covering the continuous extension of the iron-formation gold host northeast of the Homestake Mine. The City Creek geology is dominated by the Homestake, Ellison and Poorman stratigraphic sequence that has been delineated by more than 40,000 ft of core drilling across the property. The historic drilling also documents the occurrence of gold mineralization in the classic quartz vein, chlorite-arsenopyrite style of the Homestake Mine. Through this most recent staking, the City Creek project area has been expanded from approximately 1,167 acres to 4,319 acres.
The City Creek expansion is the realization of the Company’s strategy of growing its mineral interests in the Black Hills of South Dakota. The Company continues to leverage the unique mining and exploration experience of its technical team in the Homestake District to build value from the extensive historic data sets Dakota Territory has assembled over the past eight years. In addition to historic data, the Company is currently enhancing the quality and resolution of its magnetic data while collecting radiometric data over a much larger area of the Northern Black Hills. The new helicopter borne survey is scheduled to be completed late July, 2020.
Dakota Territory controls just under 11,400 acres of brownfields mineral property in what we believe to be one of America’s richest gold Districts. The Company intends to continue to strategically expand its dominant land package in the District as industry interest grows for exploration property in safe, low cost jurisdictions in the United States with a history of large-scale gold production.
Brian L. Cole, 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 in South Dakota and 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.
Dakota Territory maintains 100% ownership of five gold properties covering approximately 11,398 acres in the heart of the Homestake District, including the Blind Gold, City Creek, West Corridor, Homestake Paleoplacer and Tinton Properties. Dakota Territory is uniquely positioned to leverage management’s extensive exploration and mining experience in the District. 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.