Only one day after revealing it stands to receive US$825,000 a month as part of a new JV at its Gold Links project, Dateline Resources (ASX: DTR) unveiled a second win on Friday: California state government approval to mine at its Colosseum Project.
With state government approvals from regulators in place after some delays, Dateline’s exploration team can move on with the main job: hunting for gold.
“There is significant potential for mineral resource expansion at Colosseum, with a drilling gap between the bottom of the existing mineral resource and where the deepest hole intersected the gold bearing [target],” Dateline chief Stephen Baghdadi said.
“We are finalising our drilling plans and hope to be back on the ground in the near future.”
Colosseum is one of the two projects that makes up Dateline’s overall operational footprint, with Gold Links in Colorado being the subject of Thursday’s JV announcement.
Colosseum is based in California and, like Links, it’s a gold play with an established gold resource. But there’s also another prospective find to be made within the tenement.
That opportunity is none other than rare earth (REE) critical minerals. As in Australia, the US government prioritises development projects which can feasibly unlock commercial-scale quantities of a range of REEs.
There is a reason to keep this on the radar, given Dateline have already detected one of the key REE critical minerals at Colosseum in mid-2016.
On the US government’s list is neodymium, which Dateline detected at Colosseum in August last year in early-stage drilling.
Neodymium is a high-value metal which is sought after due to its use in making permanent magnetic goods. Neodymium magnets led the way to the modern world. Without them, it would not have been possible to scale down phones, computers, laptops, and even car components in the way we take for granted today.
The US government wants its own neodymium so it can secure the manufacture of such equipment—and while it’s still early days, Dateline believes it knows where to find some of it.
The company did not provide a timeline of upcoming drilling activities on-site on Friday.
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