Dateline Resources reports strong diamond drilling results at its Colosseum Gold-REE Project, confirming high-grade gold mineralisation beyond current resource boundaries and advancing plans for mine life extension.
- Diamond hole CM25-41 intersects 149.65m at 1.39 g/t Au including 55.2m at 2.83 g/t Au
- Gold mineralisation remains open at depth in northeast extension of North Pipe breccia system
- Potential to extend mine life beyond 8.5 years outlined in May 2025 Scoping Study
- Larger diamond drill rigs mobilised to test full extent of mineralised zone
- Project hosts 27.1Mt at 1.26 g/t Au for 1.1Moz with over 67% Measured and Indicated resources
Strong Drilling Results Confirm Resource Growth Potential
Dateline Resources Limited (ASX – DTR) has delivered encouraging diamond core drilling results from the northeast extension of the North Pipe breccia system at its 100%-owned Colosseum Gold and Rare Earth Element (REE) Project in California. The latest hole, CM25-41, intersected a substantial 149.65 metres grading 1.39 grams per tonne (g/t) gold from surface, including a high-grade core of 55.2 metres at 2.83 g/t gold. Notably, the hole ended in mineralisation around 1 g/t gold, indicating the system remains open at depth and beyond the current resource boundary.
Implications for Mine Life and Project Economics
These results build on previous drilling that demonstrated continuity of mineralisation over hundreds of metres northeast of the existing resource. The Colosseum project currently holds a JORC 2012-compliant Mineral Resource of 27.1 million tonnes at 1.26 g/t gold, equating to 1.1 million ounces, with over 67% classified as Measured and Indicated. The May 2025 Scoping Study outlined an open-pit operation with an estimated mine life of approximately 8.5 years and an internal rate of return (IRR) of 61% at a gold price of US$2,900 per ounce.
Dateline’s Managing Director, Stephen Baghdadi, emphasised the significance of the new drilling results, noting that the northeast extension offers potential to extend the mine life beyond the current plan. The presence of high-grade zones within this extension could support a follow-up underground mining phase after open-pit operations, potentially unlocking additional value and prolonging production.
Next Steps in Exploration and Feasibility
To fully delineate the extent and grade of the northeast extension, Dateline is mobilising larger-capacity diamond core drill rigs. These rigs will test deeper portions of the North Pipe breccia system beyond the approximately 300-metre depth reached to date, providing continuous core samples for detailed geological analysis. This work will inform the ongoing Bankable Feasibility Study, a critical step towards project development.
Alongside gold, the Colosseum project’s geological similarity to the nearby Mountain Pass mine raises intriguing rare earth element potential, which Dateline is actively investigating through targeted drilling at depth. While this aspect remains early-stage, it adds a strategic dimension to the project’s long-term outlook.
Context Within Regional Mining Landscape
Located in San Bernardino County, California, the Colosseum Gold-REE Project benefits from established infrastructure and a mining-friendly jurisdiction. The project’s proximity to the Mountain Pass rare earth mine, one of the largest in the US, underscores its strategic importance. Dateline also owns the Argos Strontium Project nearby, further consolidating its foothold in the region’s critical minerals sector.
With a strong resource base, promising exploration results, and advancing feasibility work, Dateline Resources is positioning Colosseum as a significant gold and rare earth element asset in North America.
Bottom Line?
Dateline’s latest drilling success at Colosseum sets the stage for a potential mine life extension and adds momentum to its feasibility study progress.
Questions in the middle?
- How will further drilling refine the size and grade of the northeast extension?
- What are the timelines and capital requirements for advancing the Bankable Feasibility Study?
- How significant could the rare earth element potential be alongside gold production?