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

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

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