Dakota finds more gold in South Dakota

A drilling program by Dakota Mining (DAK-T) is expanding the Anchor Hill gold deposit at the Gilt Edge property in South Dakota.

The company says the program also led to the discovery of significant mineralization at the nearby Ruby Ridge prospect.

Four holes drilled into the southwest edge of Anchor Hill intersected a northeast-trending structure with significant gold values. Hole 963 encountered 115 ft. of near-surface mineralization grading 0.103 oz. gold per ton and 45 ft. of 0.157 oz. per ton.

Hole 964 hit 110 ft. (from surface) grading 0.054 oz., plus another 135 ft.

grading 0.08 oz. Hole 966 hit 150 ft. grading 0.071 oz. gold, also from surface.

All the holes were within the current pit boundary, and Dakota expects them to add 20,000 contained oz. to the Anchor Hill reserve, which will be recalculated early in 1997.

Dakota drilled 14 holes (totalling 6,130 ft.) into the Ruby Ridge prospect, situated 2,000 ft. east of the main Anchor Hill pit. Highlights from the 14 holes include hole 947, which encountered 95 ft. of mineralization grading 0.058 oz. gold. Hole 961 hit 100 ft. grading 0.029 oz. and hole 970 hit 50 ft. (near the

surface) grading 0.311 oz. gold.

In other news, Dakota terminated its merger discussions with Ariel Resources (AU-T). The decision came after Dakota completed its due diligence.