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DATELINE RESOURCES LIMITED - Corporate Spotlight

Dateline Resources review of historic data at the Colosseum gold mine reveals a resource... Dateline Resources review of historic data at the Colosseum gold mine reveals a resource closer to 1.1 million gold ounces, up from the 700,000 ounce mining reserve previously announced.More

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Corporate Spotlight

Dateline Resources review of historic data at the Colosseum gold mine reveals a resource closer to 1.1 million gold ounces, up from the 700,000 ounce mining reserve previously announced.
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MD STEPHEN BAGHDADI OUTLINES DATA REVIEW FINDINGS

VIDEOS

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MD and CEO Stephen Baghdadi outlines how Dateline grew the resource of the newly acquired Colosseum gold mine by 400,000 gold ounces 




(ASX:DTR) shares boosted by Colosseum Gold historical data



MD & CEO Stephen Baghdadi Discusses The Recent Colosseum Gold Mine Acquisition & Gold Links Funding 


DTR SHARES SOAR ON GOLD DATA

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Dateline Resources (ASX:DTR) shares boosted by Colosseum Gold historical data

Materials

ASX:DTR
Dateline Resources (ASX:DTR) - Managing Director, Stephen Baghdadi - The Market Herald
Managing Director, Stephen Baghdadi
Source: The Market Herald

  • Dateline Resources (DTR) shares jumped into the green after reporting historical results from a geological review of its Colosseum Gold Mine Project in California
  • DTR evaluated technical reports, maps, sections and speeches prepared by former management of the Colosseum Gold Mine between 1970 and 1993 as part of the review
  • Particular findings from BP Minerals defined a combined resource of 1.1 million ounces of gold down to an average depth of 850 feet below the surface with gold also found to be hosted in two well defined and steeply dipping breccia pipes
  • Dateline acquired the project in March this year

Dateline Resources (DTR) shares jumped into the green after reporting historical results from a geological review of its Colosseum Gold Mine Project in California.


As part of the review, DTR evaluated technical reports, maps, sections and speeches prepared by former management of the Colosseum Gold Mine between 1970 and 1993.


Particular findings from BP Minerals defined a combined resource of 1.1 million ounces gold down to an average depth of 850 feet below the surface, at 0.5g/t gold cut-off grade for the project, which was acquired by DTR in March this year.


According to DTR, gold was also found to be hosted in two well defined and steeply dipping breccia pipes, referred to as the East and West Pipes.


Additional BP Minerals data confirms both breccia pipes within the mine continue for another 1750 feet below the known 850-feet of mineralisation, which Dateline affirms offers a compelling target for further assessment.


The ASX-lister noted the findings could not be relied upon for reporting mineral resources or reserves.


Dateline Resources Managing Director Stephen Baghdadi commented on the historical data.


"We now know 2 deep diamond core holes were put down in 1972 in search of molybdenum," he said.


"Both deep holes confirmed that the breccia pipes are still present at 2,600 feet below the surface, which is an average of 1,750 feet below the bottom of the BP Minerals defined resource shell."


The Managing Director affirmed the company would continue to digitise the data ahead of updates on plans for a 2021 field programme.


Read the Full Article on The Market Herald here

DTR APPOINTS MINING CONTRACTOR

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Dateline Resources (ASX:DTR) appoints mining contractor for Gold Links

ASX:DTR
Dateline Resources (ASX:DTR) - Managing Director, Stephen Baghdadi - The Market Herald
Managing Director, Stephen Baghdadi
Source: The Market Herald

  • Dateline Resources (DTR) has appointed a mining contractor for its Gold Links Project in Colorado, U.S.
  • The contractor is scheduled to begin mobilising equipment to the site from May 27 and will develop one kilometre of underground decline
  • This decline will be used as a haulage and exploration tunnel, enhance mine ventilation and provide an additional escape for mine workers
  • In addition to the decline work, an underground diamond drill crew is expected to arrive on site in June
  • Roughly 4000 metres of underground drilling will be undertaken near the 2150 and West gold veins
  • Work is expected to be completed during the fourth quarter with progress updates to be made on a regular basis

Dateline Resources (DTR) has appointed a mining contractor for its Gold Links Project in Colorado, U.S.


The Gold Links Project is part of the Gold Brick District of the Colorado Mineral Belt which has produced more than 25 million ounces of gold.


The contractor is scheduled to begin mobilising equipment to the site from May 27 and will develop one kilometre of underground decline.


This decline will be used as a haulage and exploration tunnel which will allow the gold veins to be drill tested.


Furthermore, the decline will enhance mine ventilation and provide an additional escape for mine workers.


The decline is expected to be completed in Q4 2021.


In addition to the decline work, an underground diamond drill crew is expected to arrive on site in June.


The diamond drill crew will undertake roughly 4000 metres of underground drilling with work planned to be carried out 50 to 75 metres from the 2150 and West veins.


Work is expected to be completed during the fourth quarter with progress updates to be made on a regular basis.


"The contractor was selected from an extensive list after a competitive tender process," Managing Director Stephen Baghdadi said.


"We look forward to the upcoming development and exploration program as we move the company closer towards its objective of becoming a gold producer."


Read the Full Article on The Market Herald here

DTR TO ACQUIRE COLOSSEUM GOLD MINE

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Dateline Resources (ASX:DTR) to buy Colosseuum Gold Mine from Barrick Gold subsidiary

Materials

ASX:DTR    MCAP $24.63M



  • Dateline Resources (DTR) has signed an agreement with Barrick Gold subsidiary LAC Minerals to acquire the Colosseum Gold Mine in California
  • The mine is located near multiple significant discoveries and lies just 10 kilometres from America's only rare earths mine
  • Terms of the acquisition include Dateline replacing US$756,880 (roughly A$976,443) in reclamation bonds and paying US$1.5 million (roughly A$1.9 million) after it completes a bankable feasibility study or begins site development to extract ore
  • To support the buy, Dateline is launching a $1 million private placement which will issue 400 million shares at 0.25 cents
  • In addition, the company has reached advanced discussions to secure a US$6.8 million (roughly A$8.78 million) credit facility from a U.S. lender to support drilling and development at its Gold Links Property in Colorado 


Dateline Resources (DTR) is set to acquire the Colosseum Gold Mine in San Bernardino County, California.


The gold miner has struck an agreement with Barrick Gold's wholly owned subsidiary, LAC Minerals, to acquire the 83 mining claims that host the Colosseum Gold Mine and surrounding areas.


The mine


The Colosseum Gold Mine is located on the Walker Lane Trend which hosts multiple substantial discoveries such as Equinox Gold's 6.5-million-ounce Castle Mountain gold mine. Colosseum is also situated just 10 kilometres from MP Materials' Mountain Pass Mine which is America's only rare earths mine.


Between 1988 and 1993, the gold mine produced 344,000 ounces of gold at an estimated head grade of 2.5g/t gold.


In the early 1980s, BP Minerals conducted exploration at the mine, which included 166 reverse circulation drill holes and three diamond holes with multiple holes ending in mineralisation within the breccia pipes.


"The acquisition of the Colosseum offers the company a significant opportunity to develop a substantial additional resource base," Managing Director Stephen Baghdadi said.


The terms


Under the agreement, Dateline will deposit US$500,000 (roughly A$645,045) into an escrow account by March 21, 2021. This amount will be released to LAC if Dateline terminates the agreement or if the transactions don't close by October 21, 2021.


Further terms include Dateline providing the relevant authorities with US$756,880 (roughly A$976,443) in reclamation bonds and paying Barrick US$1.5 million (roughly A$1.9 million) by the time it either completes a bankable feasibility study (BFS), begins site development for the extraction of ore, or sells the properties.


Barrick is also entitled to a 2.5 per cent net smelter return royalty on all future production of any metals from the mine.


In addition, the ASX-lister has agreed to issue the facilitators of the Colosseum Gold Mine with 95 million shares, 150 million options exercisable at 0.6 cents by February 28, 2022, if it gets drilling approval and a further 100 million options exercisable at 0.8 cents by the same date if Dateline delivers an indicated resource of at least one million ounces of gold. 


Private placement and credit facility


To support the acquisition, Dateline Resources is planning to raise $1 million through a private placement to sophisticated and professional investors. Up to 400 million new shares will be issued at 0.25 cents by no later than March 19, 2021.


Dateline is also in discussions with a U.S.-based lender to secure a US$6.8 million (roughly A$8.78 million) credit facility. This facility will allow the company to complete underground development work and a drilling program at its wholly owned Gold Links Property in Colorado.


"Negotiations with a financial institution to obtain a US$6.8 million credit facility are at closing stage and when completed will enable the company to advance the development of the Gold Links Project in Colorado," Stephen said.


Exploration plans 


Once the acquisition has been completed, Dateline will review historical data, conduct survey and geophysical work and complete drilling to confirm the estimation of resources and test the depth and extent of mineralisation.


See Full Article Here. 

ABOUT US

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Dateline Resources Limited (ASX: DTR) is an Australian publicly listed company primarily focused on gold mining and exploration in Colorado, United States of America.

The company owns permitted gold mining projects in Colorado USA including two permitted ore processing facilities.

Dateline properties cover a number of high-grade narrow vein ore-bodies.

Multiple vein structures have been identified over a strike length of 3.6km (2.2 miles) and are most likely a part of the same large mineralised system.

Dateline owns approximately 2000 acres of freehold land in Gunnison County, Colorado. This region is part of the ‘Gold Brick District’ of the Colorado Mineral Belt.

USA law recognises the owner of freehold land as the owner of all the mineral rights located on that land. Investing in permitted mineralised freehold land in the USA is therefore very appealing, as it removes leasehold commitments such as rent fees and minimum annual expenditure programs, regardless of any changes to the investment climate.

Dateline’s ownership of the 2000 acres of freehold guarantees the security of tenure of the in-situ mineral resources.

The Colorado Mineral Belt has produced over 25,000,000 ounces of gold and yet no new significant exploration or precious metal mining activity has occurred in the state of Colorado since the Summitville disaster of 1992 (26 years ago).

The region has yet to see the benefits of improved mining practices and advanced exploration and production technologies.




Colorado Assets – systematic exploration using modern technologies

Dateline has consolidated ownership of the land in the Gold Brick District previously held by the Reynolds and Gydesen interests.

Dateline believes there are more ounces of gold left in the ground than the ~300,000 ounces of known production that occurred sporadically from the 1880’s to 1982.

Modern Exploration Technologies

A program to digitise all of the old maps and working reports is currently underway. When completed, the digitised data including assay results from surface samples will be used in conjunction with a 3D seismic survey of the area planned for the northern hemisphere summer.

The objective of the program is to detect potential high-grade shoots of the numerous veins and better understand the overall distribution of the shoots within this mineralised system.

Work on the 2150 vein on the Gold Links property in 2017 has demonstrated that the high-grade gold shoots are associated with heavy sulphide (galena and pyrite) with the remainder of the vein being quartz and carbonate. This mineral density contrast should make any mineralised shoots clearly evident in a 3D seismic survey. The surface projections of the known veins are expressed as changes in contour of the topography.

DTR POSTS IMPROVED ORE SORTING RESULTS

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Dateline Resources (ASX:DTR) Upgrades Ore Sorting results 


Mining

ASX:DTR    MCAP $32.11M

 



  • Dateline Resources (DTR) has successfully upgraded its ore sorting results from the Gold Links Gold Mine in Colorado, US
  • The company says the gold grade per tonne increased by 41.6 per cent, from 15.34 g/t gold to 21.71 g/t gold,
  • Just under 850 kilograms of ore was tested, with XRT sorting technology proving more effective than laser sorting
  • Dateline believes using this tech will allow it to increase the tonnage, post crushing, going into primary and secondary circuits by around 33 per cent


Dateline Resources (DTR) has successfully upgraded its ore sorting results from the Gold Links Gold Mine in Colorado, US.


The company carried out testing on 849 kilograms of ore to assess the potential of upgrading it prior to further processing through the nearby Lucky Strike mill.


DTR said testing increased the gold grade per tonne by 41.6 per cent, from 15.34 g/t gold to 21.71 g/t gold.


It also revealed that XRT sorting technology proved to be more effective than laser sorting, with both methods used in the ore sorting.


"The ore sorting results are in line with our expectations and have confirmed that the Gold Links ore is perfectly suited for this technology," Managing Director Stephen Baghdadi said.


"The sample head grade was increased by 41.6 per cent to 21.7g/t gold. Approximately a third of the material was sorted to waste.


"The amount of gold that was left in the waste was 2.2g/t, which equates to less than 0.7g/t per mined tonne."


Mr Baghdadi also said the tech would likely increase the tonnage, post crushing, going into Lucky Strike's primary and secondary circuits by around 33 per cent.


"By upgrading high-grade material from the veins to an even higher grade significantly enhances the potential of Gold Links by reducing processing costs and increasing the returns per tonne," Mr Baghdadi said.


"The company intends to conduct an additional test to determine if the results can be further improved by using an ore sorter that is capable of both XRT and Laser in a single run."


See The Full Article Here. 

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