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- Dateline Resources (DTR) discovers increasing potential of rare earth element (REE) mineralisation at its Colosseum project in the US
- The company says it detected multiple fenite dyke outcrops over 1.6 kilometres, suggesting the presence of a large underlying alkaline carbonatite
- The fenites were then sampled, with 86 per cent of samples returning anomalous REE values and 100 per cent returning anomalous strontium and barium values
- Looking ahead, the company has planned to access a wide range of data to guide it in prioritising drill targets
- Shares end the day in the grey trading at 10 cents
Dateline Resources (DTR) has discovered increasing potential of rare earth element (REE) mineralisation at its Colosseum project in the US.
The company said it detected multiple fenite dyke outcrops over 1.6 kilometres, suggesting the presence of a large underlying alkaline carbonatite.
The presence of fenites is a key indicator in discovering carbonatites that host REEs.
The fenites were then sampled, with 86 per cent of samples returning anomalous REE values and 100 per cent returning anomalous strontium and barium values.
Meanwhile, a lithological assessment indicates a rich feeder system.
Looking ahead, the company has planned to access a wide range of data to guide it in prioritising drill targets.
Managing Director Stephen Baghdadi said he was pleased with the findings.
“The Colosseum project is located in what is arguably amongst the best geological addresses to find another major REE discovery,” he said.
“Should the current promise of the geological findings be fulfilled, the proximity to the Mountain Pass REE mine may provide an opportunity to fast track the commercialisation of any potential discovery.”
Shares ended the day in the grey trading at 10 cents.
