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DATELINE RESOURCES LIMITED — Capital/Financing Update 2021
May 23, 2021
64793_rns_2021-05-23_8c269eb6-bea9-4916-a530-af529598f439.pdf
Capital/Financing Update
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----- Start of picture text ----- ASX Release24 May 2021DATELINE RESOURCESLIMITED(ACN 149 105 653)ASX Code: DTRCAPITAL STRUCTUREShare Price (21/04/21) $0.003Shares on issue 8,831 millionMarket Cap $26.5 millionMAJOR SHAREHOLDERSSouthern Cross Exploration NL 27.1%Mr. Mark Johnson AO 19.0%National Nominees Ltd 14.9%DIRECTORS &MANAGEMENTMark Johnson AOChairmanStephen BaghdadiManaging DirectorGreg HallNon-Executive DirectorTony FergusonNon-Executive DirectorBill LannenNon-Executive DirectorJohn SmithCompany SecretaryCONTACTJohn SmithPhone: +61 2 9375 2353Postal Address: P.O. Box 553South Hurstville NSW 2221Email: [email protected]----- End of picture text -----
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APPOINTMENT OF MINING CONTRACTOR AT GOLD LINKS PROJECT
Emerging US gold developer, Dateline Resources Limited (ASX: DTR) ( Dateline or the Company ) is pleased to announce the appointment of a mining contractor to the 100% owned Gold Links Project, located in Gunnison County, Colorado USA.
The contractor is scheduled to commence mobilizing equipment to site from May 27[th] , 2021 and will develop approximately 1km (3,000 feet) of underground decline with 4.0mx4.3m (12ft x 13ft) dimensions. The decline will act as a haulage and exploration tunnel, from which the 2150 and West gold veins will be drill tested.
The decline will link up with an existing drive at a lower elevation, which will provide a second escapeway for underground personnel and enhance mine ventilation. The decline work is expected to be completed in the fourth quarter of the 2021 calendar year.
Underground Diamond Drilling
The underground diamond drill crew is scheduled to mobilise to site in June 2021. The drilling company will undertake 4,000 metres (~12,000 feet) of underground drilling from within the decline (Figure 1).
The diamond drilling will be located approximately 50-75 metres away from both the 2150 and West veins, which will enable them to complete an anticipated 2-3 drill holes per week. Underground drilling is expected to be completed during the fourth quarter.
Dateline will provide progress updates on a regular basis.
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Figure 1: Section view of planned decline development and drilling at Gold Links Project
ASX Release 24 May 2021
Commenting on the appointment, Managing Director, Stephen Baghdadi, said “The contractor was selected from an extensive list after a competitive tender process. We look forward to the upcoming development and exploration program as we move the company closer towards its objective of becoming a gold producer”
Gold Links
The Gold Links Project hosts a swarm of high-grade narrow gold veins over an area of >1km across strike and >5km strike length. The veins were discovered in the late 19th century and were mined intermittently by various owners until 1942. The Gold Links Project comprises of four historically significant contiguous gold mines in Colorado USA.
Authorised by the Board of Dateline Resources Limited.
For 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
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 Colorado, USA and is acquiring 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 mined 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 commence a small high-grade, low cost operation by the end of 2021.
The Company owns the Lucky Strike gold mill, located 50km within the Green Mountain Project. It is proposed that ore from Gold Links would be transported to Lucky Strike for processing.
The 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.