ASX Release
15 December 2021
DATELINE RESOURCES | ||
LIMITED | ||
only | ||
(ACN 149 105 653) | ||
ASX Code: DTR | ||
CAPITAL STRUCTURE | ||
Share Price (14/12/21) $0.077 | ||
Shares on issue | 438 million | |
Mark t Cap | $33.7 million | |
MAJOR SHAREHOLDERS | ||
So thern Cross Exploration NL | 21.8% | |
useMr. Mark Johnson AO | 19.8% | |
National Nominees Ltd | 11.9% | |
personal | 5.9% | |
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 | ||
Ph ne: +61 2 9375 2353 | ||
P stal Address: P.O. Box 553 | ||
S uth Hurstville NSW 2221 |
Email: inf @datelineresources.com.au
94g/t gold and 89g/t silver intersected at Gold Links
Highlights
- High-gradegold intersections up to 94.34g/t gold and 89g/t silver intersected at Gold Links as part of the underground drilling program
- Assay results from two holes received are:
- CRG21-028:1.0m @ 11.78g/t Au & 40.8g/t Ag inc. 0.45m @ 25.89g/t Au and 40.8g/t Ag
- CRG21-032:2.0m @ 8.54g/t Au & 13.3g/t Ag inc. 0.1m @ 94.34g/t Au and 89g/t Ag and 0.3m @ 14.61g/t Au and 17.38g/t Ag
- Results are in line with grade and width expectations for the 2150 vein
- Further results pending
Dateline Resources Limited (ASX: DTR) (Dateline or the Company) is pleased to announce high-gradegold intersections returned as part of a 4,000-metreunderground drilling program at the Gold Links Gold Project, located in Gunnison County, Colorado:
Commenting on the results, Dateline's Managing Director, Stephen Baghdadi, said:
"The 2150 vein at the Gold links continues to return results in line with our overall expectations and understanding of it. These two results confirm continuity of the mineralisation both up-dip and to the south of previous drill intercepts including the Discovery zone.
"This section of the 2150 vein is shaping up as another target for mining in the near term. We will now focus our drilling on extending this area deeper and to the north"
Intersection Details
The current phase of the underground drilling program is aimed at extending a mineralised section of the 2150 vein ("The Discovery Zone") which was drilled between 1975 and 1985. The Company expanded drilling in this area from 10 to 13 holes of which 10 have been completed. Results for five of the completed holes have been returned and five remain outstanding.
Figure 1 - Schematic showing new drill holes into the 2150 vein in green. Scale is in feet
ASX Release 15 December 2021
CRG21-028 (Discovery Zone) returned an assay result of 1.0m @ 11.78g/t Au & 40.8g/t Ag inc. 0.45m @ 25.89g/t Au and 40.8g/t Ag. This hole was designed to test down-dipfrom hole CRG21-025and up-dipfrom hole CRG21-027.CRG21- 025 contained two intersections approximately 7 metres apart and graded 13.92g/t Au and 27g/t Ag over 1.2 metres
in the first section and 1.4 metres at 5.53g/t Au and 9g/t Ag in the second section. CRG21-027 contained 1.6 metres onlyat 29.2g/t Au and 197g/t Ag1
CRG21-032 (Discovery Zone) returned an assay result of 2.0m at @8.54g/t Au and 13.3g/t Ag inc. 0.1m @94.34g/t Au and 89g/t Ag and 0.3m @ 14.61g/t Au and 17.38g/t Ag. This hole was designed to target approximately 50 feet (15.2 metres) south of CRG21-026.CRG21-026 contained 0.8m at @15.74g/t Au and 106g/t Ag1
Further details on the drilling and assay methodology can be found in Table 1 at the end of this report.
usepersonal Exploration Strategy
ForThe current program of underground development and drilling has been designed to support the Company's plans to commence commercial production from Gold Links in the near term. Once all 13 holes from have been completed fr m the current drill station, the drill will be relocated inside the 400ft (120 metre) long section of the development (Drill station 6 - DD-06) so that it can explore the extension of the Discovery zone. The new site of the drill will enable much deeper drilling both to the north and south of the target.
Drilling is expected to continue relatively uninterrupted over the holiday period, with only four days of downtime scheduled before resuming.
Figure 3 below shows the location of DDS-06 and the anticipated holes that will be completed as part of the initial program from that site.
1 As disclosed in ASX release dated November 25, 2021
ASX Release 15 December 2021
onlyuse
personalUnderground Development Progress
As per ASX announcement dated 13 December 2021, a second means of egress has now been developed, following the intersection of the haulage and exploration decline with a previously established drive at 9600RL.
Underground development is currently focused on developing the accessways to be able to begin stoping the mineral r source located at 9900RL. Once mining has commenced, the company intends to continue advancing the exploration and haulage decline.
As reviously announced, the Company is investigating the potential to install ore sorting technology at Gold Links to remove non-mineralised material from the ore feed going into the mill. The Company is also investigating the utilisation of narrow mechanised mining equipment to minimise dilution when mining narrow ore zones.
For | |||
This announcement has been authorised for release on ASX by the Company's Board of Directors. | |||
or more information, please contact: | |||
Stephen Baghdadi | |||
Managing Director | |||
+61 2 9375 2353 | |||
www.datelineresources.com.au | |||
Follow Dateline on Twitter: | https://twitter.com/Dateline_DTR |
ASX Release 15 December 2021
About Dateline Resources Limited
Dateline Resources Limited (ASX: DTR) is an Australian publicly listed company focused on gold mining and exploration in North America. The Company owns 100% of the Gold Links and Green Mountain Projects in
onlyColorado, USA and has an agreement to acquire 100% of the Colosseum Gold Mine in California.
The Gold Links Gold Mine is a historic high-grade gold mining project where over 150,000 ounces of gold was mi ed from high-grade veins. Mineralisation can be traced on surface and underground for almost 6km from the Northern to the Southern sections of the project. The Company aims to delineate sufficient Mineral Resources to c mmence a small high-grade,low-cost operation by the end of 2021.
The Company owns the Lucky Strike gold mill, located 50km from the Gold Links mine, within the Green Mountain Project. It is proposed that ore from Gold Links would be transported to Lucky Strike for processing.
useThe Colosseum Gold Mine is located in the Walker Lane Trend in East San Bernardino County, California and produced approximately 344,000 ounces of gold (see ASX release 15 March 2021). Significant potential remains for extension to mineralization at depth.
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 personal(CP-IMM). Mr Hall has sufficient experience that is relevant to the style of mineralisation 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.
For
ASX Release 15 December 2021
Drill-hole Data for Significant Intercepts
Sample_ID | Hole_ID | Drill Type | From (m) | To (m) | Length (m) | Au ppm | Ag ppm |
only | CRG21-004 | Core | 17.2 | 17.8 | 0.6 | 15.2 | 60.7 | |
E255055 | ||||||||
E255056 | CRG21-004 | Core | 17.8 | 19.4 | 1.6 | 7.73 | 77.9 | |
E255055- | CRG21-004 | Core | 17.2 | 19.4 | 2.2 | 9.63 | 73.54 | |
E255056 | ||||||||
326229 | CRG21-006 | Core | 21.8 | 22.3 | 0.5 | 17.95 | 49.6 | |
E255177 | CRG21-025 | Core | 17.7 | 19.1 | 1.4 | 5.53 | 9.09 | |
E255182 | CRG21-025 | Core | 25.3 | 26.2 | 0.9 | 14.71 | 23.7 | |
use | CRG21-025 | Core | 26.2 | 26.5 | 0.3 | 11.54 | 35.1 | |
E255183 | ||||||||
E255215 | CRG21-026 | Core | 56.4 | 57.2 | 0.8 | 15.74 | 106.29 | |
E255234 | CRG21-027 | Core | 64.0 | 64.6 | 0.6 | 56.74 | 383.66 | |
E255237 | CRG21-027 | Core | 64.9 | 65.2 | 0.3 | 33.19 | 228.35 | |
E255239 | CRG21-027 | Core | 65.2 | 65.6 | 0.5 | 8.61 | 39.09 | |
personalFor | CRG21-028 | Core | 68.7 | 69.2 | 0.5 | 25.89 | 40.8 | |
E255246 | ||||||||
E255269 | CRG21-032 | Core | 48.1 | 48.2 | 0.1 | 94.34 | 89.01 | |
E255274 | CRG21-032 | Core | 49.8 | 50.1 | 0.3 | 14.61 | 17.38 |
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Disclaimer
Dateline Resources Limited published this content on 14 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 December 2021 21:37:08 UTC.