Dakota Gold Corp. Announces 9.46 grams/tonne gold over 6.4 meters of Homestake Mine-Style Gold Mineralization at the Maitland Gold Project
Dakota Gold Corp. (NYSE American: DC) has announced significant high-grade gold mineralization at its Maitland Gold Project in South Dakota, targeting Homestake Mine-style deposits.
Key highlights include drill hole MA24C-050 with 9.46 grams/tonne (g/t) gold over 6.4 meters in the 36 Ledge. This marks a important intersection 66.1 meters north and 51.2 meters above a previous high-grade discovery.
Other significant drill results include MA23C-024A with 4.70 g/t gold over 6.7 meters and MA24C-049 showing 10.85 g/t gold over 1.5 meters.
Drilling has progressed from wider to tighter spacing to delineate mineralization, with ongoing exploration aiming to uncover deeper, potentially richer gold deposits akin to the historic Homestake Mine.
Four drill rigs are currently active, focusing on three main projects: JB Gold Zone, Unionville Zone, and Richmond Hill Gold Project.
- Drill hole MA24C-050 found 9.46 g/t gold over 6.4 meters.
- High-grade gold intervals in multiple drill holes, e.g., MA23C-024A with 4.70 g/t over 6.7 meters.
- Drilling has transitioned to tighter spacing, enhancing mineralization delineation.
- Ongoing exploration targets deeper, potentially richer deposits.
- None.
Insights
Geological Insights: The recent drill results from Dakota Gold Corp. are significant from a geological perspective. The intersection of 9.46 grams per tonne (g/t) gold over 6.4 meters is a high-grade finding, indicating a potentially profitable mining operation. This grade is well above the average cut-off grade for most gold mining projects, which typically ranges from 0.5 to 1.5 g/t.
The drilling results suggest that the mineralization in the JB Gold Zone is analogous to the historic Homestake Mine, which produced around 6 million ounces of gold. This historical context gives additional credibility to the potential value of this project. Moreover, the fact that the mineralization remains open along strike and at depth indicates that there could be even more gold to be found as drilling continues.
Short-term Impact: The immediate impact is positive, as high-grade results like these can drive up stock prices due to increased investor confidence.
Long-term Impact: Sustained high-grade findings will be crucial. The ongoing exploration and tighter spacing in drilling to further delineate the mineralization will provide more detailed data and may lead to an increase in resource estimates.
Financial Implications: High-grade drill results often translate to favorable financial prospects for a mining company. For Dakota Gold Corp., the high-grade intersections could mean lower extraction costs and higher profitability. Typically, higher gold grades reduce the cost per ounce of production, which can significantly enhance the company's bottom line.
Investors should also consider the company's exploration budget and cash reserves. Sustained drilling and exploration are capital-intensive activities and the ability to continue these operations without diluting shareholder value through additional funding rounds is vital.
Short-term Impact: Positive market sentiment and potential stock price appreciation. However, investors should watch for any announcements regarding additional funding needs, which could temper short-term gains.
Long-term Impact: If the company can continue to report high-grade results and expand its resource estimates, the long-term financial outlook is very promising. This could lead to revaluation of the company's stock and increased interest from institutional investors.
Market Position: Dakota Gold Corp.'s recent drill results place it in a favorable position in the competitive gold mining market. The historical context of the Homestake Mine adds a layer of credibility and attractiveness to the Maitland Gold Project. The high-grade findings could draw attention from larger mining companies looking to acquire promising assets.
Industry Context: In the current gold market, where prices have shown resilience, discoveries of high-grade deposits are highly valued. This is especially true in politically stable regions like South Dakota, which adds an extra layer of security for investments.
Short-term Impact: Increased visibility and possibly higher stock liquidity as more investors take notice. Potential for strategic partnerships or even acquisition interest.
Long-term Impact: Establishing a robust resource base will be important for long-term success. Maintaining momentum and continuing to deliver positive results will solidify Dakota Gold Corp.'s position in the market.
Lead, South Dakota--(Newsfile Corp. - June 20, 2024) - Dakota Gold Corp. (NYSE American: DC) ("Dakota Gold" or the "Company") is pleased to announce that it has intersected additional high-grade Homestake Mine-style gold mineralization within the ledges of the JB Gold Zone at the Maitland Gold Project ("Maitland") in South Dakota.
Significant Highlights (See Table 1):
- The growing array of drill holes targeting Homestake Mine-style gold mineralization has produced multiple high-grade gold intercepts in at least three distinct ledges within the JB Gold Zone at Maitland: 34 Ledge, 35 Ledge and 36 Ledge.
- Drill hole MA24C-050 returned 9.46 grams/tonne (g/t) gold over 6.4 meters within the 36 Ledge. The intersection is a 66.1 meter lateral offset towards the north and a 51.2 meter vertical offset above previously announced drill hole MA24C-038 on April 4, 2024 which intersected 25.03 g/t gold over 4.4 meters.
- Other reported drill holes have intersected positive drill results with Homestake Mine-style mineralization within the 36 Ledge including, MA23C-021, MA23C-024, MA23C-024A, MA23C-024B, MA23C-024C, MA23C-024E, MA23C-025, and MA24C-049. Drill holes MA23C-031, MA24C-037 and MA24C-046 appear to be in an east limb of the 35 Ledge system.
- Drilling at Maitland continues to transition from wider spacing of approximately 250 meters, to tighter spacing to further delineate the mineralization within identified ledges, which remain open along strike and to depth.
James Berry, Vice President Exploration of Dakota Gold, said, "These results further support our belief that Homestake Mine-style gold mineralization in the JB Gold Zone at Maitland is analogous to the gold mineralization found in the 'West Ledge' system at the historic Homestake Mine that produced approximately 6 million ounces of gold. As we have previously noted, in the West Ledge, the best grades were encountered at depths that Dakota Gold's exploration programs have yet to drill test at Maitland. We look forward to continuing to expand upon our drill programs success through the remainder of 2024."
Table 1. New Homestake Mine-style gold mineralization drill results (Metric / Imperial)1,2,3
| Hole # | From | To | Depth | Interval* | Gold | From | To | Depth | Interval* | Gold | Mineral Type | g x m |
| ft | ft | ft | ft | oz/ton | m | m | m | m | g/t | |||
| MA23C-021 | 2460.7 | 2465.0 | 1900.0 | 4.3 | 0.107 | 750.0 | 751.3 | 579.1 | 1.3 | 3.67 | Homestake | 5 |
| 2511.3 | 2516.3 | 1949.0 | 5.0 | 0.106 | 765.4 | 767.0 | 594.1 | 1.5 | 3.63 | Homestake | 6 | |
| MA23C-024 | 3137.3 | 3155.3 | 2974.0 | 18.0 | 0.112 | 956.2 | 961.7 | 906.5 | 5.5 | 3.84 | Homestake | 21 |
| MA23C-024A | 2972.8 | 2979.5 | 2710.0 | 6.7 | 0.137 | 906.1 | 908.2 | 826.0 | 2.0 | 4.70 | Homestake | 10 |
| MA23C-024B | 2756.0 | 2759.7 | 2408.0 | 3.7 | 0.103 | 840.0 | 841.2 | 734.0 | 1.1 | 3.54 | Homestake | 4 |
| 2804.2 | 2805.8 | 2434.0 | 1.6 | 0.157 | 854.7 | 855.2 | 741.9 | 0.5 | 5.39 | Homestake | 3 | |
| MA23C-024E | 2727.1 | 2732.0 | 2286.0 | 4.9 | 0.240 | 831.2 | 832.7 | 696.8 | 1.5 | 8.24 | Homestake | 12 |
| 2880.9 | 2884.7 | 2315.0 | 3.8 | 0.274 | 878.1 | 879.3 | 705.6 | 1.2 | 9.40 | Homestake | 11 | |
| MA23C-025 | 2083.2 | 2084.8 | 1654.0 | 1.6 | 0.174 | 635.0 | 635.4 | 504.1 | 0.5 | 5.96 | Homestake | 3 |
| 2629.2 | 2633.9 | 2113.0 | 4.7 | 0.135 | 801.4 | 802.8 | 644.0 | 1.4 | 4.62 | Homestake | 7 | |
| 3609.6 | 3611.6 | 2739.0 | 2.0 | 0.143 | 1100.2 | 1100.8 | 834.8 | 0.6 | 4.91 | Homestake | 3 | |
| MA23C-031 | 1186.6 | 1198.3 | 890.0 | 11.7 | 0.130 | 361.7 | 365.2 | 271.3 | 3.6 | 4.45 | Homestake | 16 |
| inc. | 1190.0 | 1198.3 | 894.0 | 8.3 | 0.153 | 362.7 | 365.2 | 272.5 | 2.5 | 5.25 | Homestake | 13 |
| MA24C-037 | 209.8 | 221.4 | 185.0 | 11.6 | 0.044 | 63.9 | 67.5 | 56.4 | 3.5 | 1.51 | Homestake | 5 |
| 931.3 | 936.9 | 793.0 | 5.6 | 0.236 | 283.9 | 285.6 | 241.7 | 1.7 | 8.08 | Homestake | 14 | |
| MA24C-046 | 1357.5 | 1372.8 | 1272.0 | 15.3 | 0.082 | 413.8 | 418.4 | 387.7 | 4.7 | 2.80 | Homestake | 13 |
| MA24C-049 | 2035.3 | 2036.8 | 1715.0 | 1.5 | 0.316 | 620.4 | 620.8 | 522.7 | 0.5 | 10.85 | Homestake | 5 |
| MA24C-050 | 1660.6 | 1681.7 | 1407.0 | 21.1 | 0.276 | 506.2 | 512.6 | 428.9 | 6.4 | 9.46 | Homestake | 61 |
1.The table may contain rounding errors.
2.Abbreviations in the table include ounces per ton ("oz/ton"); grams per tonne ("g/t"); feet ("ft"); meter ("m"); Tertiary mineralization ("Tert") and Precambrian mineralization ("pꞒ").
3. True Thickness Unknown
Figure 1. Plan view section of Dakota Gold Corp. Maitland Drill Holes with Highlighted Drill Hole MA24C-050
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8218/213584_ff637b21a485eb62_002full.jpg
Figure 2. Cross Section view of Dakota Gold Corp. Maitland Drill Holes with Highlighted Drill Hole MA24C-050.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8218/213584_ff637b21a485eb62_003full.jpg
Figure 3. Maitland District Scale Map
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https://images.newsfilecorp.com/files/8218/213584_ff637b21a485eb62_004full.jpg
The Company currently has four drills on site at its properties in the Homestake District of South Dakota. The JB Gold Zone drilling is testing for Homestake Mine-Style gold mineralization and is one of three ongoing programs being advanced by the Company - the other two being Tertiary epithermal gold mineralization in the Unionville Zone at Maitland and the infill and step-out drilling at the Richmond Hill Gold Project to update to the S-K 1300 resource estimate.
About Dakota Gold Corp.
Dakota Gold (NYSE American: DC) is a South Dakota-based responsible gold exploration and development company with a specific focus on revitalizing the Homestake District in Lead, South Dakota. Dakota Gold has high-caliber gold mineral properties covering over 48 thousand acres surrounding the historic Homestake Mine.
The Dakota Gold team is focused on new gold discoveries and opportunities that build on the legacy of the Homestake District and its 145 years of gold mining history.
Subscribe to Dakota Gold's e-mail list at www.dakotagoldcorp.com to receive the latest news and other Company updates.
Shareholder and Investor Inquiries
For more information, please contact:
Jonathan Awde, President and Chief Executive Officer
Tel: +1 604-761-5251
Email: JAwde@dakotagoldcorp.com
Qualified Person and S-K 1300 Disclosure
James M. Berry, a Registered Member of SME and Vice President of Exploration of Dakota Gold Corp., is the Company's designated qualified person for this news release as defined in Subpart 1300 - Disclosure by Registrants Engaged in Mining Operations of Regulation S-K and has reviewed and approved its scientific and technical content.
The ranges of potential tonnage and grade (or quality) disclosed above in respect of the Maitland Gold Project are conceptual in nature and could change as the proposed exploration activities are completed. There has been insufficient exploration of the Maitland Gold Project to allow for an estimate of a mineral resource and it is uncertain if further exploration will result in the estimation of a mineral resource. The disclosure above in respect of the Maitland Gold Project therefore does not represent, and should not be construed to be, an estimate of a mineral resource or mineral reserve.
Quality Assurance/Quality Control consists of regular insertion of certified reference materials, duplicate samples, and blanks into the sample stream. Samples are submitted to the ALS Geochemistry sample preparation facility in Winnipeg, Manitoba. Gold and multi-element analyses are performed at the ALS Geochemistry laboratory in Vancouver, British Columbia. ALS Minerals is an ISO/IEC 17025:2017 accredited lab. Check samples are submitted to Bureau Veritas, Vancouver B.C. as an umpire laboratory. Assay results are reviewed, and discrepancies are investigated prior to incorporation into the Company database.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words "plan," "target," "anticipate," "believe," "estimate," "intend," "potential," "will" and "expect" and similar expressions are intended to identify such forward-looking statements. Any express or implied statements contained in this announcement that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation: our expectations regarding future drilling and our expectations regarding the development potential of Maitland. These forward-looking statements are based on assumptions and expectations that may not be realized and are inherently subject to numerous risks and uncertainties, which could cause actual results to differ materially from these statements. These risks and uncertainties include, among others: the execution and timing of our planned exploration activities; our use and evaluation of historic data; our ability to achieve our strategic goals; the state of the economy and financial markets generally and the effect on our industry; and the market for our common stock. The foregoing list is not exhaustive. For additional information regarding factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the risk factors included in Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as updated by annual, quarterly and current reports that we file with the SEC, which are available at www.sec.gov. We caution investors not to place undue reliance on the forward-looking statements contained in this communication. These statements speak only as of the date of this communication, and we undertake no obligation to update or revise these statements, whether as a result of new information, future events or otherwise, except as may be required by law. We do not give any assurance that we will achieve our expectations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213584
FAQ
What are the latest drill results from Dakota Gold's Maitland Gold Project (DC)?
How much gold was found in drill hole MA24C-050 at Dakota Gold's Maitland Project?
What are some notable drill results from Dakota Gold's recent exploration?
What is the significance of Dakota Gold's high-grade gold findings at the Maitland Project?
How is Dakota Gold (DC) progressing with its exploration at the Maitland Gold Project?
