Dateline Resources Estimates 1.1 Million Ounces Gold At Colosseum

Dateline Resources Ltd (ASX: DTR) has reported a significant resource upgrade for the Colosseum Gold Project in California, USA.

The Mineral Resource Estimate (MRE) has increased by 35% to 1.1 million ounces gold, a 35% increase since July 2022.

June 2024 Mineral Resource Estimate.

Importantly, the measured component of the MRE has increased by 77% in ounces to 455,000 ounces and 23% in grade to 1.47g/t gold.

Comparison of June 2024 MRE with the July 2022 MRE.

Mining studies

The updated MRE will be used as the basis for Dateline to determine the best mining and development option for the Colosseum project.

Australian Mine Design and Development Pty Ltd (AMDAD), have been retained to advise and manage the study.

Drilling program

Dateline is currently reviewing options for its drilling program.

The objective is to ascertain the most cost-effective way to determine the depth extent of the gold mineralisation and expand the resource.

Next steps

Dateline Managing Director Stephen Baghdadi said: “These results are extremely encouraging and demonstrate that our drilling has added higher grade tonnes, particularly to the Measured mineral resource.

“As 736,000 ounces out of the total Mineral resource estimate of 1.1 million ounces of gold are Measured and Indicated, the Company will now commence mining studies to determine what material can be mined in the most suitable and economically viable way and review the drill program to determine how best to expand the known resource further.”

 

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