UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 2, 2022
DAKOTA GOLD CORP.
(Exact name of registrant as specified in its charter)
| Nevada | 001-41349 | 85-3475290 |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |
106 Glendale Drive, Suite A,
Lead, South Dakota, United States 57754
(Address of principal executive offices) (ZIP Code)
Registrant’s telephone number, including area code: (605) 906-8363
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).
Emerging growth company ☑
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On June 2, 2022, Dakota Gold Corp. ("Dakota Gold" or the "Company") announced the results of its first drill hole, MA22C-001, at the Maitland Gold Project located approximately three miles north and contiguous with the Homestake Mine.
MA22C-001 was drilled to test for iron formation up-plunge from the North Drift mineralization that was discovered by Homestake Mining Company in the late 1980s. The North Drift gold mineralization is located from 6,600 feet to 5,800 feet below the surface. MA22C-001 was designed to test the False Bottom structures, the Maitland Anticline, and the Maitland Syncline closer to the surface. The mineralized zones are significantly shallower than the intercept depth down hole due to the shallow angle of the drill hole.
Several intervals of Homestake Formation, the host unit of the gold mineralization at the Homestake Mine, were encountered at various depths down the hole. Gold mineralization at the Homestake Mine is associated with quartz-carbonate veins, chlorite selvages, and arsenopyrite-pyrrhotite-pyrite sulfides. These types of key alteration have been observed within the two holes that have been completed. Thin zones of this type of mineralization were encountered in four intervals of MA22C-001. Three of these intervals contained anomalous gold values (see Table 1) that will be used for vectoring future step-out drilling.
A Tertiary, breccia zone was encountered from 2,286.0 feet to 2,307.4 feet in MA22C-001. This breccia consisted of Precambrian clasts with thin calcite-pyrite lined veinlets. An interval of increased brecciation and veining from 2,291.0 feet to 2,307.4 feet contained 0.195 oz/ton gold and 1.290 oz/ton silver. Step-out drill holes are planned to test the extent and width of this zone of Precambrian hosted, Tertiary mineralization which is a previously overlooked target type in the Maitland area.
Table 1. MA22C-001 Highlighted Drill Results (Imperial Units)
Hole # | From
(feet) | To
(feet) | Interval*
(feet) | Formation | Gold (oz/ton) | Silver (oz/ton) |
MA22C-001 | 603.1 | 606.0 | 2.9 | Homestake Fm. | 0.010 | 0.011 |
MA22C-001 | 2291.0 | 2307.4 | 16.4 | Tertiary Breccia | 0.195 | 1.290 |
MA22C-001 | 2885.1 | 2894.7 | 9.6 | Homestake Fm. | 0.039 | 0.007 |
MA22C-001 | 2908.0 | 2918.4 | 10.4 | Homestake Fm. | 0.018 | 0.020 |
*True thickness not known.
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 disclosure 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. Check samples will be submitted to an umpire laboratory as the drill program progresses. Assay results are reviewed, and discrepancies are investigated prior to incorporation into the Company database. Samples are submitted to the ALS Geochemistry sample preparation facility in Twin Falls, Idaho. Gold analyses are performed at the ALS Geochemistry laboratory in Reno, Nevada or Vancouver, British Columbia, and multi-element geochemical analysis are completed at the ALS Minerals laboratory in Vancouver, British Columbia. ALS Minerals is an ISO/IEC 17025:2017 accredited lab.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | DAKOTA GOLD CORP. |
| | (Registrant) |
| Date: June 7, 2022 | |
| | | |
| | By: | /s/ Shawn Campbell |
| | | Name: Shawn Campbell |
| | | Title: Chief Financial Officer |
