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NEW SDakota Territory Resource Corp Completes Property Acquisition

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millions213 Member Level  Tuesday, 04/11/17 08:59:42 AM
Re: morphnad post# 349
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NEW SDakota Territory Resource Corp Completes Property Acquisition ,
Dakota Territory Resource Corp Completes Property Acquisition

Reno, NV, April 10, 2017 (GLOBE NEWSWIRE) -- Dakota Territory Resource Corp (DTRC) ("Dakota Territory" or the "Company") is pleased to announce that the Company has entered into agreements with Trucano Novelty, Inc. to acquire a combination of surface and mineral title to 284 acres located in the Homestake District of the Northern Black Hills of South Dakota.

City Creek Expansion
Approximately 61 acres of Dakota Territory’s property acquisition are located immediately to the south and are contiguous to the Company’s City Creek Property. The ?City Creek Property is an iron-formation hosted gold target and is located on the northeastern extension of Homestake formation at a distance approximately one mile from the discovery site of the Homestake Mine. Homestake Mining Company’s widely spaced drill programs at the City Creek Property in the 1970’s and 1980’s produced intersections of gold mineralization in the classic quartz vein, chlorite-arsenopyrite mineralization style of the Homestake Mine.

Maitland Mine Area Acquisition
Dakota Territory has acquired approximately 82 acres located approximately one half mile south of the Company’s Blind Gold Property at the western fringe of the historic Maitland Gold Mine. The property is underlain by mineralized Homestake iron-formation and is also known to carry Tertiary-aged gold-silver replacement mineralization extending from the Maitland Mine. Homestake Mining Company drilled numerous core and reverse circulation holes on the property beginning in the 1960’s and continuing through the early 1990’s.

Homestake Paleoplacer Extension
Located immediately to the north and adjoining the Company's Paleoplacer Property, the Company has added approximately 141 acres covering an additional 2,600 feet of the Homestake Paleoplacer trend.

It has been estimated than more than 10 million ounces of gold were eroded from the Homestake Lode producing rich placer deposits that were subsequently covered by younger sedimentary and igneous rocks. Approximately 1.5 million ounces of the gold eroded from the Homestake Lode have been realized by various means of historic production, including a string of underground paleoplacer mines stretching northward from the Homestake Lode to point that the channel disappears under cover at the Deadbroke Mine.

In the 1980’s, Homestake Mining Company drilled at least 27 drill holes on property now controlled by Dakota Territory to explore for the northward extension of the paleochannel under cover. Homestake’s programs discovered significant gold mineralization in the channel at a distance approximately 1,800 feet north of the Deadbroke Mine. Over the past two years, Dakota Territory has subsequently utilized historic drill data and research data pertaining to the unconformity to model the surface terrain that existed at the time of placer deposition to project the paleochannel with a much higher degree of confidence. With its most recent land acquisition, Dakota Territory now controls more than a mile of the channel

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