- Dateline Resources (DTR) shares jumped into the green after reporting historical results from a geological review of its Colosseum Gold Mine Project in California
- DTR evaluated technical reports, maps, sections and speeches prepared by former management of the Colosseum Gold Mine between 1970 and 1993 as part of the review
- Particular findings from BP Minerals defined a combined resource of 1.1 million ounces of gold down to an average depth of 850 feet below the surface with gold also found to be hosted in two well defined and steeply dipping breccia pipes
- Dateline acquired the project in March this year
- Dateline Resources shares are up 25 per cent trading at 10 cents
Dateline Resources (DTR) shares jumped into the green after reporting historical results from a geological review of its Colosseum Gold Mine Project in California.
As part of the review, DTR evaluated technical reports, maps, sections and speeches prepared by former management of the Colosseum Gold Mine between 1970 and 1993.
Particular findings from BP Minerals defined a combined resource of 1.1 million ounces gold down to an average depth of 850 feet below the surface, at 0.5g/t gold cut-off grade for the project, which was acquired by DTR in March this year.
According to DTR, gold was also found to be hosted in two well defined and steeply dipping breccia pipes, referred to as the East and West Pipes.
Additional BP Minerals data confirms both breccia pipes within the mine continue for another 1750 feet below the known 850-feet of mineralisation, which Dateline affirms offers a compelling target for further assessment
The ASX-lister noted the findings could not be relied upon for reporting mineral resources or reserves.
Dateline Resources Managing Director Stephen Baghdadi commented on the historical data.
“We now know 2 deep diamond core holes were put down in 1972 in search of molybdenum,” he said.
“Both deep holes confirmed that the breccia pipes are still present at 2,600 feet below the surface, which is an average of 1,750 feet below the bottom of the BP Minerals defined resource shell.”
The Managing Director affirmed the company would continue to digitise the data ahead of updates on plans for a 2021 field programme.
Dateline Resources shares are up 25 per cent trading at 10 cents at 1:03 pm AEST.