South Dakota Gold Co Reports Positive Drill Results From Maitland Project
Research Report

Canaccord Genuity Corp. analyst Peter Bell, in a research report published on July 9, 2024, provided an update on Dakota Gold Corp. (DC:NYSE American) following the company's announcement of drill results from eight additional holes targeting the Unionville Zone at its Maitland Gold Project in South Dakota. The analyst maintained a Speculative Buy rating and a target price of US$5.75 on the stock.

Dakota Gold announced several significant intersections from the Unionville Zone, including:

• Hole MA24C-046: 29.8 g/t Au over 1.1m from 5.1m, including 2.53 grams per tonne gold (g/t Au) over 4.5m from 370.2m
• Hole MA24C-049: 9.46 g/t Au over 9.9m from 8.9m, including 1.51 g/t Au over 19.1m from 35.2m
• Hole MA24C-050: 2.47 g/t Au over 5.1m from 0m, including 3.50 g/t Au over 6.1m from 52.9m

Bell views these results positively, stating, "This morning's results show that the Maitland target has multiple styles of mineralization, including shallow zones of gold above the deeper high grade."

The analyst noted that "Dakota believes that there is potential to encounter additional parallel structures in the area which could provide an opportunity to extend the strike length already more than 3,000m."

The Unionville Zone drilling is one of three ongoing programs being advanced by Dakota Gold, alongside deeper high-grade gold mineralization exploration in the JB Gold Zone and infill and step-out drilling at the Richmond Hill Gold Project to update the S-K 1300 resource estimate.

Dakota Gold's strategic focus on advancing multiple exploration programs simultaneously demonstrates the company's commitment to developing its South Dakota gold assets. The ongoing drill results are identified as a potential near-term catalyst for the stock.

Canaccord Genuity's valuation methodology for Dakota Gold is based on a multiple of the company's forward curve-derived operating net asset value (NAV). "Our target is predicated on a 1.0x multiple applied to our forward curve-derived operating NAV less net debt and other corporate adjustments," Bell explained.

With a Speculative Buy rating and a target price of US$5.75, representing a significant potential upside from the price at the time of the report of US$2.38, Canaccord Genuity sees Dakota Gold Corp. as an attractive investment opportunity in the gold exploration sector. 

Important Disclosures:

1. Dakota Gold Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. 
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dakota Gold Corp.
3.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

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