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Reno, Nevada, Oct. 01, 2019 (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 106 unpatented lode mining claims covering approximately 2,050 acres, near the historic Tinton placer gold camp. The Company’s Tinton claim group lies approximately 10 miles west of the legendary Homestake Gold Mine, where sizeable paleoplacer and modern placer gold deposits were derived from the iron-formation hosted gold source.
Placer gold was first discovered in the Tinton area in 1876 and the local drainages were worked extensively during the late 19th and early 20th centuries. The largest reported gold nuggets found in the Black Hills came from the Tinton Camp, ranging in size up to 22 ounces. No source has yet been located for the modern gold placer deposits.
In the mid 1990’s, Homestake Mining Company undertook an exploration program at Tinton that was based on the deposition models for the paleoplacer and modern placers associated with the Homestake Lode. Preliminary ground work at that time indicated that the most likely source of the gold originated from an area east of the placer workings, over which a district wide ground gravity survey was conducted in an effort to locate iron-formation host rocks under the younger limestone beds that dominate the surface in the Tinton area. Based on the results of the geophysical survey, two deep core holes were subsequently drilled that successfully intercepted rocks interpreted to be comparable with the suite of rocks at the site of the Homestake Mine. Dakota Territory intends to resume the exploration begun by Homestake by building off the substantial work already invested in narrowing the search area.
The Tinton Property acquisition represents a sizeable addition to the Company's already considerable property portfolio in the Black Hills. Dakota Territory now controls over 6,100 acres of brownfields mineral property in one of America’s richest gold districts. The Company is committed to strategically expanding its dominant land package in the Black Hills as industry interest grows for exploration in safe, low cost jurisdictions in the United States with a history of large-scale gold production.
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.
Dakota Territory maintains 100% ownership of four gold properties covering approximately 6,109 acres in the heart of the Northern Black Hills of South Dakota, including the Blind Gold, City Creek, Homestake Paleoplacer and Tinton Properties. Dakota Territory is uniquely positioned to leverage Management’s extensive exploration and mining experience in the District 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.