Gold

Dateline Resources confirms 100 metre high grade gold hit; Mineral Resource estimate in sight

Mon 06 Jun 22, 2:18pm (AEST)
Field worker holds a gold nugget close to the camera for a better look
Source: iStock

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Key Points

  • Assay results from the Colosseum Gold project have returned high grade gold results
  • Notable hits include 100 metres of 4.16g/t from 79.24 metres
  • Dateline is targeting a JORC-2012 Mineral Resource estimate in the June quarter

Dateline Resources (ASX: DTR) has received the final assay results from a drill program at the Colosseum Gold Project in California, United States.

The assay results returned high grade hits including 100.6m at 4.16g/t gold from 79.24m.

More broadly speaking, the assay results returned gold grades between 4.2-13.8 g/t from depths between 80 to 159 metres. 

Gold grades over 5 g/t are considered high grade, according to Undervalued Equity.

“The final assay results for hole CM22-05 are significantly better than we had expected and prove that gold is contained in several of the breccia lithologies,” commented Managing Director, Stephen Baghdadi. 

"100 metres of 4.16g/t Au is a great result and is amplified by the fact that the high grade sedimentary breccia unit returned results that prove the continued grade at depth."

Next steps

Dateline is targeting a JORC-2012 Mineral Resource estimate in the June quarter.

In parallel, the company is planning the next steps for the Colosseum project, including drilling beneath the Mineral Resource model.

Dateline believes that "significant potential exists below the current Mineral Resources estimate". The gold mineralisation has to-date formed a "pipe-like" structure and there is "excellent potential for this to continue at depth".

At the end of the March quarter, the company's cash balance was $3.3m.

2022-06-06 14 10 04-Dateline Resources Ltd (ASX DTR) Share Price - Market Index
Dateline Resources share price chart

 

Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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