Dateline accelerating underground gold mine development; eyeing new REE targets at Colosseum

Fri 28 Oct 22, 1:21pm (AEST)
A selection of gold ingots laid in a tessellating pattern
Source: iStock

Key Points

  • Dateline Resources has outlined its quarterly activities today
  • Company is progressing its Gold Links underground mine development; new REE targets identified at Colosseum gold project
  • Gold processing circuit at Gold Links being upgraded to 250tpd from 100tpd

Dateline Resources (ASX: DTR) has revealed it is continuing to develop the underground end of its operations at the Gold Links gold mine in the USA, at the same time it upgrades its circuit throughput from 100tpd to 250tpd. 

Dateline notes it will immediately commence production and milling at Gold Links from the new circuit before the end of the year. 

“The September quarter was very productive…with the support of our shareholders, we have been able to progress both of our USA projects,” Dateline Resources MD Stephen Baghdadi said. 

“The Colosseum project continues to impress both in terms of the potential for rare earths and expanding the known gold resource.” 

A nearology play

Dateline identified rare earth elements (REEs) at its Colosseum play earlier this year, with several drill targets in line for exploration in the coming weeks and months.

The company notes that Colosseum is located less than 10km south of Mountain Pass - one of the largest and only rare earth mines in the US.

"Mountain Pass has a stated mine life of ~35 years and a mill feed grade of almost 8% Total rare Earth Oxide," said Dateline.

"As a comparison, Mt. Weld in Western Australia is owned by Lynas and has a mill feed grade of 5.2%. Recently, Hastings Technology commenced construction of the 15 year Yangibaba Project in Western Australia with an Ore Reserve grade of 1.11%."

Gold sales ongoing 

Meanwhile, its Gold Links mine operations has allowed Dateline to commence sales of gold concentrate and bars, allowing the company access to an ongoing income revenue stream.

Back in June, the company made its first sale to a gold smelter in Korea valued at $1.5m.

Dateline notes to investors that the Colosseum’s 813,000Koz mineral resource remains the current resource in use, which was published back in early July

The drilling for REEs at Colosseum will be funded in part by a placement the company conducted during the quarter which raised $6.65m across two stages.

Dateline's three month charts
Dateline's three month charts
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Dateline was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.


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Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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