Dateline Resources (ASX:DTR) has expanded a ‘high-grade’ gold zone at the Colosseum Gold Project in the US, citing a number of ‘exceptional’ intersections from a diamond drill program.
Managing Director Stephen Baghdadi says: “The drilling program has been accelerated and expanded at Colosseum. Both of these diamond drillholes have intersected wide zones of gold mineralisation outside of the known high-grade sedimentary breccia unit.
“CM24-16 intersected a wide 88m @ 4.18 grams per tonne gold in the upper and lower part of the drillhole in the felsite breccia unit. This is an encouraging development because the felsite breccia unit is the voluminous rock type at the Colosseum.”
Most of the drilling to date has been designed to test from northeast to the southwest of the project, returning 88m at 4.18g/t gold, including 22.8m at 8.17g/t gold from hole CM24-16.
Dateline, which has a market capitalisation of $20.33 million, says the intersection from hole CM24-16 confirms continuity of mineralisation to the north of, and below, previous drillholes.
Meanwhile, hole CM24-15 returned with 19.8m at 4.19g/t gold.
Both drillholes intersected ‘high-grade’ mineralisation in the felsite unit of the breccia pipe, rather than the sedimentary breccia that has been the primary target to date.
Dateline says this development is considered ‘significant’ and the geological model will be updated accordingly.
Alongside diamond drilling, the company has begun a 10-hole reverse circulation (RC) drilling program in March 2024. To date, one RC drillhole has been completed and with samples sent for analysis.
Drilling is focused on the infilling of ‘high-grade’ zones defined by diamond drilling in order to improve the mineral resource categorisations to measured or indicated in preparation for underground mine planning studies.
Further, the company conducted early geochemical work on hole CM23-14, which indicated bismuth and tellurium as good pathfinder elements for gold.
Dateline has received the results of multi-element geochemical analysis from all drillholes completed during 2023 and 2024. The results are being analysed to confirm geochemical patterns associated with gold mineralisation across all the areas that have been drilled.
The Colosseum Gold Mine lies at the southern section of the Walker Lane Trend in East San Bernardino County, California.
Dateline Resources is a gold and rare earths-focused mining and exploration company that wholly owns the Colosseum Project.
As of 31 December 2023, the company had $1.65 million in cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Dateline Resources
