Dateline unearths six new breccia pipes at US | Australian Markets

Dateline Resources has added one other critical dose of pleasure to its already supercharged Californian play after geophysics lit up six new, doubtlessly gold-rich breccia pipes at its Colosseum gold and uncommon earths project.

The market duly took discover, pushing Dateline’s share price to a new recent high of 24 cents a share on heavy trading. In simply 4 months, the stock has rocketed an eye-watering 3900 per cent from its April low of 0.006 cents.

The company picked up the large-scale anomalies after placing the outcomes from a latest 3D magnetotelluric (MT) survey along with knowledge from an earlier gravity examine. The evaluation revealed the identical hanging geophysical fingerprints of coincident gravity lows and resistivity lows as two recognized mineralised pipes.

The image being painted is tough to disregard: Dateline’s North and South pipes have already traditionally produced 344,000 ounces of gold and additional outlined a 1.1-million-ounce JORC useful resource, pointing to a high probability of a number of discoveries.

Management says 4 of the new anomalies are as large, if not greater, than the signatures tied to the present useful resource. The identified pipes stay open at 250 metres depth and recent MT modelling reveals they plunge at least one other 300m, hinting at a far greater mineralised system than first thought.

The MT survey has correlated strongly with the prevailing 1.1-million-ounce mineral useful resource estimate. In June, we re-examined the 2023 gravity knowledge alongside new geochemical outcomes from felsite outcrops, confirming that the breccia pipes sit within gravity lows and that felsite dykes carrying gold-pathfinder components are additionally coincident with gravity lows on the western margin of the pits. This convergence of geochemistry, gravity and MT resistivity knowledge has given us confidence in six new precedence targets within 1.5km of the Colosseum mineral useful resource.

Among the new sizzling spots, Target 5 has captured lots of consideration. Stretching about 500m by 300m, it reveals the broadest resistivity low of all of the anomalies and plunges to a staggering 900m. Dateline says its depth and continuity level to a towering breccia physique that may very well be filled with critical ounces.

Target 6 is proving equally intriguing, management says. The “bullseye” anomaly measures about 300 sq. metres and has matching gravity and resistivity lows to about 700m depth.

Meanwhile, Targets 2 and three, east of Colosseum’s North Pit, have lit up with distinct gravity lows. Both targets share an space with the bottom resistivity low in the whole survey space, suggesting a linked system at depth.

Target 4, south of the pit, is a shallower anomaly and will offer early ounces if its near-surface geophysical response interprets into mineralisation. Target 1, simply west of the South Pit, reveals sturdy ties to felsite intrusives, already linked to gold-bearing dykes on website.

Colosseum is already a strong asset. In May, Dateline’s up to date economics produced a internet current worth of US$550 million (A$850M) and a speedy 19-month payback at a gold price of US$2,900 (A$4450) an ounce. With the project’s gold endowment nonetheless open at depth and now six recent bullseye targets within the crosshairs, these numbers may very well be in for a critical improve.

Dateline has two rigs already parked on website and expects the new pipes will get a thorough workover from the truth-telling bit within weeks, teeing up what may very well be one of the company’s most important drill campaigns but.

Adding to Dateline’s exploration credentials, Colosseum lies much less than 10 kilometres north of the world-class Mountain Pass uncommon earth mine – a geological cousin with hanging similarities. The company says it plans to run its uncommon earths program in tandem with the hunt for more gold, giving punters a double shot at worth creation.

If the newly found anomalies gentle up the best way management expects, Dateline may very well be wanting at a vastly greater gold system than anybody imagined – one that would cement Colosseum’s place amongst North America’s more compelling gold and uncommon earths tales.

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