Dateline Resources Limited (Dateline) is pleased to announce that recent drilling at its 100 %-owned Colosseum Gold and Rare Earth Element (REE) Project in San Bernardino County, California has returned encouraging gold assay results that align with the Company’s expectations and confirm the continuity of mineralization within the existing open-pit mineral resource. These results strongly support the Company’s strategy to convert Inferred Mineral Resources to the higher confidence Measured and Indicated categories, thereby upgrading the JORC-2012 mineral resource as part of the ongoing feasibility work.
Cross-section of the Colosseum deposit illustrating the existing open pit outline and gold mineralized breccia pipe (blue modelled mineral resource zones). The approximate positions of key new drill intercepts (e.g., RC25-020 and CM25-19) are highlighted below the current pit. These results demonstrate the extension of gold mineralization at depth beneath the pit, supporting the planned upgrade of Inferred resources to higher-confidence categories. Image Credit: Dateline Resources Limited
The standout drilling intercepts include 85.34 meters at 1.33 g/t Au from RC25-020, a reversecirculation hole drilled beneath the current pit floor, and 61.26 meters at 1.18 g/t Au from CM25-19 (a diamond core hole for which assays are still pending beyond this interval). Hole RC25-020’s long intercept of consistent gold grades indicates a continuation of the gold mineralization below the mined pit, extending the known mineralized envelope at depth. Hole CM25-19, an infill hole targeting a previously sparsely drilled zone, has already delivered a substantial gold interval in its upper section.
The breadth and grade of these intersections are comparable to the deposit’s average mineral resource grade, reinforcing confidence that the geological model is accurate and that gold mineralization persists as predicted.
The current JORC-2012 Mineral Resource1 for the Colosseum Gold deposit stands at 27.1 million tonnes @ 1.26 g/t Au for 1.1 million ounces of gold. Approximately 67 % of this resource is classified as Measured and Indicated, with the remaining 33 % classified as Inferred. The completed infill drilling program focused on upgrading the Inferred resource by increasing drill density in those areas and confirming grade continuity. The latest batch of results provides clear evidence that a significant portion of the previously Inferred material can be elevated to higher confidence categories, as the intercepted grades and thicknesses are consistent with the current mineral resource model.
In summary, the latest drill results from Colosseum are in line with expectations and confirm the robustness of the geological model. They substantiate the Company's approach to upgrade the mineral resource classification, thereby increasing the proportion of gold ounces in the Measured and Indicated categories. This will provide a stronger foundation for mine development plans and improve the quality of the BFS.
Dateline will continue to update shareholders as additional assay results are received and as the JORC mineral resource update process progresses. The Company is confident that the ongoing drilling will add tangible value to the Colosseum Gold-REE Project by enhancing the mineral resource base and de-risking the path to production.