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Dateline Resources to launch major field program at Colosseum gold-REE project in California

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By Colin Hay - 
Dateline Resources ASX DTR Colosseum geochemistry geophysics program REE
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Dateline Resources (ASX: DTR) has unveiled plans to accelerate activities at its Colosseum gold and rare earth element (REE) project in California.

The company has significantly expanded its geological understanding of Colosseum on the back of recent positive field work and desktop reviews and is now planning a major field program over the coming weeks to advance both the targets it has identified.

Dateline will begin the new campaign this month with a comprehensive soil sampling program across the broader Colosseum project area, which it expects will run for approximately four weeks.

Prospective targets

The program will include collecting soil samples from systematic grids over prospective target zones.

Dateline intends for all samples to undergo multi-element analysis, including an assessment of the full REE suite, to detect geochemical anomalies and associated pathfinders.

The company will use results from this program to generate geochemical maps and prioritise areas where gold or REE mineral potential is highest.

MT survey

At the same time, the company will undertake a project-wide magnetotelluric (MT) survey to collect data along multiple lines spanning the claims to image the subsurface to significant depths.

Dateline believes the combination of density, conductivity and geochemistry will allow it to integrate three independent datasets into the drill targeting model.

The integration of the datasets will assist Dateline in finalising plans for a maiden REE drilling program to test the highest-priority targets at Colosseum.

Compelling REE prospects

Dateline will target the most compelling REE prospects and is also planning to drill several holes to investigate potential gold extensions of the known breccia pipes and any newly indicated breccia bodies it identified in the recent work.

Located in east San Bernardino County, the Colosseum gold mine has a current mineral resource estimate of 27.1 million tonnes at 1.26 grams per tonne gold for 1.1 million ounces.

Dateline released updated economics for the project in late May that identified a net present value of approximately $852 million and an internal rate of return of 61% using a gold price of US$2,900/oz.