US gold producer Dateline Resources has completed Phase 1 diamond drilling at its Colosseum mine in California.

The drilling focused on confirming historical information compiled by the company over the past 12 months, with core and cuttings to be used to assess the accuracy of historical drill hole and resource data along with groundwater quality to determine variances between the mined and unmined zones.

Results are expected in coming weeks, and a JORC-2012 Mineral Resource Estimate (MRE) is planned for the June quarter.

The company anticipates that upside potential will remain to be tested beyond the initial MRE.

Mineralisation could be open at depth

The Colosseum Gold Mine produced approximately 344,000 ounces of gold – and Dateline is confident there’s significant potential for extension to mineralisation at depth.

“The database compilation of exploration, mining and water quality information suggests the mineralised zone at the Colosseum is open at depth,” Dateline Resources (ASX:DTR) MD Stephen Baghdadi said.

“The data gathered will be used to formulate a commercial and environmentally sound plan for the Colosseum project.”

The company says that distinguishing between natural background sulphate in the un-mined breccia pipe resource areas around and beneath the pit floor, and from a separate sulphate isotope fingerprint derived from milling activities in the 1980s-1990s, is important for consideration of future plans for the mine.




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.