DATELINE RESOURCES LIMITED ASX Release
4 March 2022
DATELINE RESOURCES | ||
LIMITED | ||
only | ||
(ACN 149 105 653) | ||
ASX Code: DTR | ||
CAPITAL STRUCTURE | ||
Share Price (3/03/22) $0.087 | ||
Shares on issue | 438 million | |
Mark t Cap | $38.1 million | |
MAJOR SHAREHOLDERS | ||
So thern Cross Exploration NL | 25.2% | |
useMr. Mark Johnson AO | 19.9% | |
National Nominees Ltd | 13.8% | |
personal | 6.2% | |
Stephen Baghdadi | ||
DIRECTORS & | ||
MANAGEMENT | ||
Mark Joh son AO | ||
Chairman | ||
Stephen Baghdadi | ||
Managing Director | ||
Greg Hall | ||
Non-Executive Director | ||
Tony Fe guson | ||
Non-Executive Director | ||
Bill Lann n | ||
Non-Ex cutive Director | ||
Mark Ohlsson | ||
Com any Secretary | ||
CONTACT | ||
For | ||
Ma k Ohlsson | ||
Phone: +61 2 9375 2353 | ||
P stal Address: P.O. Box 553 | ||
S uth Hurstville NSW 2221 |
Email: inf @datelineresources.com.au
GOLD LINKS UPDATE
Highlights
- Bonanza gold and silver grades up to 308g/t Au and 7,733g/t Ag returned from face sampling of underground development drives at the 9900mRL mineral resource.
- Clay zone, ranging in thickness from 3 inches to 1 foot, contains very high grades gold and silver in the hanging wall of the vein.
- Development ore continues to be mined and used for production start-up phase.
- A 250tpd ball mill and associated equipment has been purchased to upgrade current capacity at Lucky Strike
- Gold concentrate currently being produced
Dateline Resources Limited (ASX: DTR) (Dateline or the Company) is pleased to provide an update on production and exploration activities at the 100%-ownedGold Links Gold Mine in Colorado, USA.
Underground face sampling as part of the mining program has returned bonanza gold and silver grades, well in excess of the mineral resource grade of 14g/t Au. Grades up to 308g/t Au and 7,733 g/t Ag were received, with the very high-grade results associated with a hanging wall clay zone that was not well recovered in the diamond core drilling program when defining this mineralised area.
The development mining program is progressing well, with ore continuing to be trucked to the Company's 100% owned Lucky Strike mill as commissioning continues with the lower grade ore.
Whilst commissioning is underway with the existing 100tpd mill, the Company has purchased a 250tpd ball mill to expand production. Associated flotation cells, pumps and other equipment have been purchased with installation expected to be completed by the end of June 2022.
Dateline's Managing Director, Stephen Baghdadi, commented:
"It has always been the case in gold mining that 'grade is king' and these bonanza grades are nothing short of spectacular.
"Whilst we have seen high grades from exploration drilling at the Gold Links in the past, we have always recovered higher grades when we can actually see the vein such as we are doing now. The current face sampling returns of 10 ounces of gold and 7.7 kilos of silver per tonne gives us a lot of confidence for the future, particularly once we finalise commissioning the Lucky Strike mill inclusive of upgrades and begin stope mining the 9900rl Zone"
ASX Release 4 March 2022
High Grade Face Sampling
As part of the development program at Gold Links, the Company has conducted a close spaced face sampling and mapping program within the development drives ahead of stoping commencing. The program has been designed to provide the Company with detailed information on the controls on mineralisation.
onlyThe Company has received bonanza grade gold and silver assays from face sampling of the 9900mRL mineralised vein at the Gold Links Gold Mine in Colorado.
Highlights from the program included the following:
usepersonal*Gold equivalent: Aueq = ((Au g/t) + (Ag g/t)÷79) based on US$1,899/oz Au and US$24/oz Ag Full sample details are included in Appendix 1.
The area where the recent mapping and sampling campaign was completed forms part of the 9900mRL indicated mineral resource, which has an estimated grade of 14g/t
The current face sampling program indicates potential grade upside from the defined mineral resource estimate, with a new intensely sheared and oxidised high-grade clay zone present in the hanging wall that was not generally seen in the d ill core. The Company's geologists believe this clay zone, which ranges in thickness from 3 inches to 1 foot, may have b n washed away during diamond drilling.
As this high-grade zone is absent from most drillholes in this area, the Company believes there is good potential for an overcall on produced ounces compared to the mineral resource.
The processing circuit at the Company's 100% owned Lucky Strike mill is configured to capture free gold in a gravity circuit followed by a flotation circuit, minimising the potential for gold losses to the tailings stream.
ForFigu e 1 to 3 below show a photos of sampled faces in 9925 South, with the sample locations and grades marked on the image.
For personal use only
ASX Release 4 March 2022
Figure 1: 9925 South face (sampled 19/1/2022) incl. 132g/t Au and 385g/t Ag
Figure 2: 9925 South face (sampled 5/2/2022) incl. 247g/t Au and 7,733g/t Ag
ASX Release 4 March 2022
For personal use only
Figure 3: 9925 South face (sampled 4/2/2022) incl. 308g/t Au and 2,797g/t Ag
ASX Release 4 March 2022
For personal use only
Figure 4: Plan view image showing location of current underground mining areas
(Scale is in feet)
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Disclaimer
Dateline Resources Limited published this content on 03 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 March 2022 22:53:54 UTC.
