SAN BERNARDINO, CA / ACCESS Newswire / June 23, 2025 / Dateline Resources Limited (ASX:DTR)(OTCQB:DTREF), an Australian-based exploration company, is pleased to provide an update on its ongoing exploration program at the 100%-owned Colosseum Gold and Rare Earth Elements (REE) Project, located in the prolific Walker Lane Trend of San Bernardino County, California. This comprehensive program highlights Dateline's commitment to advancing the exploration of this dual-commodity asset through detailed geophysical and geochemical surveys.
The magneto telluric (MT) geophysical survey is progressing steadily, with data collected from 119 of the planned 167 stations, representing approximately 70% completion. Designed to capture deep subsurface resistivity data along multiple lines spanning the project claims, the MT survey aims to image geological structures and alteration zones that could indicate buried breccia pipes or REE-bearing mineralized features. Preliminary 1D and 2D resistivity inversions from the first three completed survey lines have been generated and are under review by Dateline's technical team, showing resistivity contrasts that may correlate with key lithological contacts or structural features at depth. A full 3D inversion of the MT dataset will be conducted once all field data is collected, with results expected within 2-4 weeks of survey completion, enhancing the company's ability to pinpoint high-priority drill targets.
In parallel, the geochemical sampling program is advancing, with 599 of the planned 1,207 samples, roughly 50%, collected as of today. Targeting high-priority areas such as newly identified felsite dykes west of historic pits and untested gravity-low anomalies to the east, these samples are being sent to the laboratory in batches for multi-element analysis, including a full suite of rare earth elements, to identify geochemical anomalies and pathfinder elements. Initial assay results from the first batch are expected in early July 2025, with comprehensive interpretation to follow once all samples are analyzed. Given current progress, terrain, and temperature conditions, the sampling campaign is anticipated to conclude in approximately 17-20 days.
These exploration efforts are central to Dateline's "stacked evidence" methodology, which integrates MT, geochemical, gravity, and potentially ground magnetic data to refine drill targets. The results will guide upcoming drilling campaigns, including a maiden REE-focused program, positioning Colosseum as a strategically significant project for both gold and critical minerals.
Located less than 10 kilometers north of the world-class Mountain Pass REE mine, the Colosseum Project is well-positioned to capitalize on the growing global demand for rare earth elements, supported by strong U.S. government initiatives to bolster domestic production. This positions the project to contribute to America's strategic mineral supply chain, enhancing national security by reducing reliance on foreign sources of critical minerals.
Managing Director Stephen Baghdadi commented, "We are very encouraged by the field progress and initial data coming from Colosseum. In just a short period, our team has covered roughly half of the geochemical survey grid, and the MT survey is advancing on schedule. Each batch of samples sent to the lab and each line of geophysical data brings us a step closer to uncovering the next phase of Colosseum's potential. We look forward to receiving the assay results in July along with the MT survey's 3D models. Combining these new datasets will allow us to pinpoint the most prospective zones for both gold and rare earths with a high degree of confidence. This systematic approach is laying the groundwork for our upcoming drilling campaigns, including the maiden REE-focused drill program, to unlock value from this unique gold-REE project."
About Dateline Resources Limited
Dateline Resources Limited (ASX: DTR, OTCQB: DTREF) is an Australian company focused on mining and exploration in North America. The Company owns 100% of the Colosseum Gold-REE Project in California.
The Colosseum Gold Mine is located in the Walker Lane Trend in East San Bernardino County, California. On 6 June 2024, the Company announced to the ASX that the Colosseum Gold mine has a JORC-2012 compliant Mineral Resource estimate of 27.1Mt @ 1.26g/t Au for 1.1Moz. Of the total Mineral Resource, 455koz @ 1.47/t Au (41%) are classified as Measured, 281koz @1.21g/t Au (26%) as Indicated and 364koz @ 1.10g/t Au (33%) as Inferred.
On 23 May 2025, Dateline announced that updated economics for the Colosseum Gold Project generated an NPV6.5 of US$550 million and an IRR of 61% using a gold price of US$2,900/oz.
The Colosseum is located less than 10km north of the Mountain Rare Earth mine. Planning has commenced on drill testing the REE potential at Colosseum.
Forward-Looking Statements
This announcement may contain "forward-looking statements" concerning Dateline Resources that are subject to risks and uncertainties. Generally, the words "will", "may", "should", "continue", "believes", "expects", "intends", "anticipates" or similar expressions identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Dateline Resources' ability to control or estimate precisely, such as future market conditions, changes in regulatory environment and the behavior of other market participants. Dateline Resources cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements. Dateline Resources assumes no obligation and does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.
Competent Person Statement
Sample preparation and any exploration information in this announcement is based upon work reviewed by Mr Greg Hall who is a Chartered Professional of the Australasian Institute of Mining and Metallurgy (CP-IMM). Mr Hall has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to quality as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Hall is a Non-Executive Director of Dateline Resources Limited and consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
Contact Information
Stephen Baghdadi
Managing Director
Dateline Resources Limited
+61 2 9375 2353
info@datelineresources.com.au
www.datelineresources.com.au
Andrew Rowell
White Noise Communications
+61 400 466 226
andrew@whitenoisecomms.com
Follow Dateline on X: @Dateline_DTR
Dateline Resources Limited
Level 29, 2 Chifley Square, Sydney, NSW 2000, Australia
This press release is authorized for release by the Board of Dateline Resources Limited
SOURCE: Dateline Resources Limited
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/dateline-resources-reports-strong-progress-in-colosseum-gold-ree-exploration-prog-1041813
