Dateline geophysics zero in on deep US gold targets
Brought to you by Bulls and Bears
Doug Bright
Dateline Resources has completed a significant infill geophysical program at its wholly owned Colosseum gold and rare earth project in California, USA, setting the stage for a near-term diamond core drilling offensive.
The latest study is a follow-up to the company’s induced polarization (IP) survey last December and includes a high-resolution gravity survey of 543 stations on a 100m x 100m grid, sufficient to provide detailed rock density mapping over the central project area.
The survey also included magnetic and radiometric surveys at a line spacing of 50 meters across an area of approximately 8.6 square kilometers, providing fine-scale magnetic and radiometric data.
The infill geophysical surveys aimed to improve the resolution on deeper chargeability and conductivity features marked by previous IP and magneto-telluric (MT) geophysical studies.
‘The data continue to support the existence of a major mineral system.’
Dateline Resources managing director Stephen Baghdadi
These features were initially interpreted as structurally controlled and possibly linked to gold mineralization or rare earth-bearing carbonatite intrusions. The environment is thought to be similar to the nearby massive Mountain Pass mine operated by MP Materials, located about 10 kilometers to the south.
With the completion of the latest program, all of Dateline’s geophysical data, including new gravity, magnetics and radiometric surveys, as well as previous IP and MT surveys, are now integrated and interpreted by Miter Geophysics.
Dateline says the new data aims to sharpen the geological picture by tightening the shape and continuity of the deposit at depth. More importantly, the team is trying to correlate these deep geophysical signals with the geology, structures, geochemistry and change seen at the surface.
Dateline Resources managing director Stephen Baghdadi said: “The data continue to support the existence of a large mineral system with deep structural and sulphide-bearing features interpreted as a mineralization plumbing extending beyond known near-surface ore zones.”
The ultimate reward is a shortlist of high-confidence drilling targets defined where multiple datasets are co-located and illuminate the most interesting regions for the next round of drilling.
Dateline’s integrated approach transforms Colosseum from broad target definition to precise, high-confidence sounding testing. The strategy is designed to keep spending tight while chasing upward both the project’s established gold potential and emerging rare earths.
Management said diamond drilling rigs are scheduled to be on site next week and that it plans to run the drilling program in parallel with ongoing data integration and interpretation, allowing drillers to test the highest priority targets while hardening the data.
The Colosseum currently hosts an impressive 27.1 million tonnes; this resource averages 1.26 grams per tonne (g/t) gold for 1.1 million ounces of gold; of these, 41 percent fall in the highest measured category, 26 percent fall in the stated category, and the remaining 33 percent are inferred.
The resource forms the basis for an ongoing credible feasibility study to restart the historic open pit operation. The project is located within the highly prospective Walker Lane geological trend in San Bernardino County, California.
In May last year, Dateline unveiled updated economics for the Colosseum gold project, stating that the project would generate a net present value of US$550 million (AU$783 million) and an internal rate of return of 61 per cent at a conservative gold price of US$2900 per ounce (AU$4130).
With the gold price currently at around US$4990 (AU$7100) per ounce, 72 per cent higher than the price used in the original economic research, the 2025 figures are likely to improve significantly.
Dateline’s new geophysical push adds another layer of risk mitigation ahead of deeper drilling that could expand its resource and validate the bootstrapping of rare earth resources.
With diamond drilling rigs arriving and data moving closer to one or more priority targets, Colosseum is listing potential near-term catalysts in what is increasingly evident as a tier-one mining jurisdiction.
Further updates are expected as interpretation is completed and the next round of drilling begins.
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