Dateline Resources finds a thick, high-grade gold bounty at its Colosseum project in California
Special Report: Dateline Resources might spark a new gold rush in California after assaying of its eighth exploration hole at the Colosseum gold project delivered a monstrous high-grade intersection of 70.1m @ 6.53g/t gold.
Colosseum sits within the southern section of the Walker Lane trend in East San Bernardino Country that hosts several substantial discoveries, including Corvus Gold’s 1.7Moz Mother Lode deposit and the 6.5Moz Castle Mountain gold mine owned by Equinox Gold.
The project itself already has a resource of 20.9Mt @ 1.2g/t for 813,000oz of contained gold.
Work by Dateline Resources (ASX:DTR) has also indicated that Colosseum is highly prospective for rare earths within a high relative density area around breccia pipes, which is similar to mineralisation at the nearby Mountain Pass mine – the world’s highest-grade rare earth mine – just 10km to the southeast.
Previous holes in the current drill program have also delivered thick, high-grade gold hits with CM23-08 returned a top result of 76.2m @ 8.62g/t gold.
High-grade sedimentary breccia unit has returned the greatest gold grades to date. Pic: Supplied (DTR)
Assaying of hole CM23-14 returned a result of 70.1m @ 6.53g/t gold, including a higher grade zone of 25.9m @ 15.31g/t gold.
CM23-14 was drilled to test a revised geological model and expand the high-grade sedimentary breccia.
The result confirms the continuation of the primary lithology, sedimentary breccia, with an elongated orientation to the southeast, with the consistent assay results suggesting stability in the geologic structure, which in turn supports the understanding of the deposit’s composition.
DTR added that notable volume of high-grade mineralisation within the sedimentary breccia that has been intersected in several drill holes has been substantiated further by the 25.9m @ 15.31g/t gold intersection in CM23-14.
The high-grade mineralisation at CM23-14 is an encouraging sign for the potential economic value of the deposit and additional drill holes are planned to test the lateral and down-dip extents of the high-grade zones.
DTR adds that hole CM23-15 is almost complete and will test the southern extension of the sedimentary unit.
The Company also noted that it had submitted samples from Colosseum to researchers to assess the thermodynamics of the hydrothermal mineral system in order to understand the potential scale implications of Colosseum. The researchers noted a log-normal distribution, which is typically associated with very large mineral deposits.
This article was developed in collaboration with Dateline Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.