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DATELINE RESOURCES LIMITED — Capital/Financing Update 2023
Jun 18, 2023
64793_rns_2023-06-18_243d56f0-dd43-4f56-963a-ccd5aecdf9af.pdf
Capital/Financing Update
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ASX Release
DATELINE RESOURCES LIMITED
(ACN 149 105 653) ASX Code: DTR
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BONANZA INTERCEPT AT COLOSSEUM 63.2 metres at 10.28g/t Au
Highlights
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63.2m @ 10.28g/t Au intercepted in diamond drill hole CM23-08, the first in the current diamond drill program
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This intercept includes a higher-grade section of 23.5m @ 21.8g/t Au.
CAPITAL STRUCTURE Share Price (9/6/23) $0.032
$27 million
MAJOR SHAREHOLDERS
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Average grade of the intersection is significantly greater than overall resource grade.
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Second hole , CM23-11a, currently underway with results expected in 2-3 weeks.
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A total of eight diamond drill holes planned.
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Drilling the rare earth targets is planned for the September quarter.
DIRECTORS & MANAGEMENT
Mark Johnson AO Chairman
Stephen Baghdadi Managing Director
Greg Hall Non-Executive Director
Tony Ferguson Non-Executive Director
Bill Lannen Non-Executive Director
John Smith Company Secretary
CONTACT John Smith Phone: +61 2 9375 2353 Postal Address: P.O. Box 553 South Hurstville NSW 2221 Email: [email protected]
Dateline Resources Limited ( Dateline or the Company ) is pleased to announce it has received initial assay results from the upper part of the first diamond drill hole, CM2308, drilled at the Colosseum Mine in San Bernardino County, California, USA that includes a 63.2 metre intersection of 10.28 g/t gold from 91.15m downhole.
The current drill program builds on the success of the drilling in mid-2022, where drillhole CM22-05 intercepted 100.6m @ 4.16g/t Au from 79.24m downhole[1] .
Pleasingly, higher grades intersected in both this year and last years drill holes, are significantly higher than the average Mineral Resource[2] grade of 1.2g/t Au (813,000oz)
Mineralisation at Colosseum is hosted within two near vertical breccia pipes, with historical drilling intersecting the West pipe at ~1,000m vertical depth below the starting surface. The existing open pit is at 1,621mRL (208m below the starting surface), the Mineral Resource estimate extends to 1,493mRL (128m below the pit), whilst this current drill program proposes to test targets down to 1,417mRL, ~75m below the base of the Mineral Resource estimate.
The drilling program comprises eight diamond drillholes targeting areas within the mineral resource model that have low drill density as well as below the Mineral Resource model to add additional tonnes and ounces. The results of this program will be used to update the Mineral Resource estimate.
Commenting on the results, Managing Director, Stephen Baghdadi, commented:
“This is a bonanza result. The curent drilling program is designed to increase the overall gold resource size, both in terms of tonnage and grade. The results from the first hole have yielded a materially higher gold grade than the resource average and bodes well for when the resource is recalculated at the conclusion of the program.”
“We recently announced the sale of Gold Links Mine to focus on the Colosseum Mine, and drill intercepts such as this validate the strategy.”
“A resource upgrade could significantly increase the value of the Colosseum Mine. This is the first partial result of eight holes in the program. Progress and results from the other holes keenly awaited.”
1 ASX Announcement 6 June 2022 – 100m @ 4.16g/t Au Colosseum Gold Project 2 ASX Announcement 6 July 2022 – 813,000 ounce Mineral Resource estimate for Colosseum Gold Project
ASX Release 19 June 2023
Diamond Drilling Details
Drillhole CM23-08 was drilled at a dip of -50[o] towards Azimuth 218[o] , testing the West breccia pipe inside and below the current Mineral Resource envelope. The hole was drilled to 179.7m, before being terminated due to unstable drilling conditions. Notably, the hole ended in mineralisation, adding to the potential of this zone.
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Figure 1: Cross section showing the existing pit, mineral resource blocks and new drill intercept. Elevation numbers are in feet. Hole CM23-08 still has assays pending for bottom section of drillhole.
Second Drillhole – CM23-11a
The second hole in the current drill program, CM23-11a, is nearly completed drilling and intersected over 36 metres of the same rock type with favourable looking mineralisation that resembles that of CM22-05 and sections of CM23-08 (see Figure 3). These favourable zones are currently being processed by the laboratory with results expected in 2-3 weeks time.
ASX Release 19 June 2023
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Figure 2: Photo of high-grade core with gold grades outlined
ASX Release 19 June 2023
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Figure 3: Photo comparing core from holes CM23-08 (top) to CM23-11a (bottom) demonstrating comparable core intersected in both drillholes
ASX Release 19 June 2023
Forward Program
The diamond drilling program comprises eight (8) holes with the second hole currently planned to reach total depth in the coming days. Core will be logged, cut, sampled and assayed with results expected from this hole in 2-3 weeks.
The Company has also developed a drill plan for an initial test of the rare earth targets developed by the Company’s expert advisors in 2022. Depending on the rate of drilling of the gold targets, these may be drilled either with diamond or reverse circulation (RC) with current planning that the holes will be drilled in the September’23 quarter.
This announcement has been authorised for release on ASX by the Company’s Board of Directors.
For more information:
Stephen Baghdadi Andrew Rowell Managing Director White Noise Communications +61 2 9375 2353 +61 400 466 226 www.datelineresources.com.au [email protected]
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 mining and exploration in North America. The Company owns 100% of the Colosseum Gold-REE Project in California.
The Colosseum Mine is located in the Walker Lane Trend in East San Bernardino County, California. On July 6, 2022, the Company announced to the ASX that the Colosseum Gold mine has a JORC-2012 compliant Mineral Resource estimate of 20.9Mt @ 1.2g/t Au for 813,000oz. Of the total Mineral Resource, 258koz @1.2g/t Au (32%) are classified as Measured, 322koz @1.2g/t Au (39%) as Indicated and 235koz @1.3g/t Au (29%) as Inferred.
The Colosseum is located less than 10km north of the Mountain Rare Earth mine. Work has commenced on identifying the source of the mantle derived rocks that are associated with carbonatites and are located at Colosseum. A comprehensive mapping, sampling and gravity survey has located several REE targets that are ready to be drill tested.
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 (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.
Forward-Looking Statements
This announcement may contain “forward-looking statements” concerning Dateline Resources that are subject to risks and uncertainties. Generally, the words “will”, “may”, “should”, “continue”, “believes”, “expects”, “intends”, “anticipates” or similar expressions identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Dateline Resources’ ability to control or estimate precisely, such as future market conditions, changes in regulatory environment and the behaviour of other market participants. Dateline Resources cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forwardlooking statements. Dateline Resources assumes no obligation and does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.
ASX Release 19 June 2023
Appendix 1: Drill Collar Information
| Hole ID | Easting | Northing | Elevation | Total Depth (m) |
|---|---|---|---|---|
| CM23-08 | 11245 | 21173 | 5433 | 179.7 |
| CM23-11 | 11245 | 21173 | 5433 | 75.2 |
| CM23-11a | 11245 | 21173 | 5433 | inprogress |
Appendix 2: Assay Results
| Sample_ID | Hole_ID | Drill Type | From (m) | To (m) | Length (m) | Au ppm | Au opt |
|---|---|---|---|---|---|---|---|
| E256001 | CM23-08 | Core | 1.5 | 3.0 | 1.5 | 0.014 | 0.0004 |
| E256002 | CM23-08 | Core | 3.0 | 4.6 | 1.5 | 0.02 | 0.0006 |
| E256003 | CM23-08 | Core | 4.6 | 6.1 | 1.5 | 0.023 | 0.0007 |
| E256004 | CM23-08 | Core | 6.1 | 7.6 | 1.5 | 0.023 | 0.0007 |
| E256005 | CM23-08 | Core | 7.6 | 9.1 | 1.5 | 0.017 | 0.0005 |
| E256007 | CM23-08 | Core | 9.1 | 10.7 | 1.5 | 0.072 | 0.0021 |
| E256008 | CM23-08 | Core | 10.7 | 12.2 | 1.5 | 0.027 | 0.0008 |
| E256009 | CM23-08 | Core | 12.2 | 13.7 | 1.5 | 0.11 | 0.0032 |
| E256010 | CM23-08 | Core | 13.7 | 15.0 | 1.3 | 0.186 | 0.0054 |
| no sample | CM23-08 | Core | 15.0 | 16.5 | 1.5 | ||
| E256011 | CM23-08 | Core | 16.5 | 17.0 | 0.5 | 0.094 | 0.0027 |
| E256013 | CM23-08 | Core | 17.0 | 18.3 | 1.3 | 0.334 | 0.0097 |
| E256014 | CM23-08 | Core | 18.3 | 19.8 | 1.5 | 0.259 | 0.0076 |
| E256015 | CM23-08 | Core | 19.8 | 20.7 | 0.9 | 0.38 | 0.0111 |
| E256016 | CM23-08 | Core | 20.7 | 21.9 | 1.1 | 0.336 | 0.0098 |
| E256017 | CM23-08 | Core | 21.9 | 22.0 | 0.2 | 22.08 | 0.644 |
| E256019 | CM23-08 | Core | 22.0 | 23.3 | 1.3 | 0.47 | 0.01 |
| E256020 | CM23-08 | Core | 23.3 | 23.9 | 0.5 | 0.12 | 0.00 |
| E256021 | CM23-08 | Core | 23.9 | 24.1 | 0.2 | 0.15 | 0.00 |
| E256022 | CM23-08 | Core | 24.1 | 25.3 | 1.2 | 0.28 | 0.01 |
| E256023 | CM23-08 | Core | 25.3 | 26.2 | 0.9 | 0.07 | 0.00 |
| E256025 | CM23-08 | Core | 26.2 | 26.8 | 0.6 | 0.21 | 0.01 |
| E256026 | CM23-08 | Core | 26.8 | 28.3 | 1.5 | 0.06 | 0.00 |
| E256027 | CM23-08 | Core | 28.3 | 29.9 | 1.5 | 0.28 | 0.01 |
| E256028 | CM23-08 | Core | 29.9 | 31.1 | 1.2 | 0.12 | 0.00 |
| E256029 | CM23-08 | Core | 31.1 | 31.4 | 0.3 | 0.01 | 0.00 |
| E256030 | CM23-08 | Core | 31.4 | 32.9 | 1.5 | 0.59 | 0.02 |
| E256032 | CM23-08 | Core | 32.9 | 34.4 | 1.5 | 0.30 | 0.01 |
| E256033 | CM23-08 | Core | 34.4 | 36.0 | 1.5 | 0.14 | 0.00 |
| E256034 | CM23-08 | Core | 36.0 | 37.5 | 1.5 | 0.07 | 0.00 |
| E256035 | CM23-08 | Core | 37.5 | 38.0 | 0.5 | 0.50 | 0.01 |
| E256036 | CM23-08 | Core | 38.0 | 39.5 | 1.5 | 0.15 | 0.00 |
ASX Release 19 June 2023
| Sample_ID | Hole_ID | Drill Type | From (m) | To (m) | Length (m) | Au ppm | Au opt |
|---|---|---|---|---|---|---|---|
| E256038 | CM23-08 | Core | 39.5 | 42.5 | 3.0 | 0.21 | 0.01 |
| E256039 | CM23-08 | Core | 51.4 | 52.9 | 1.5 | 0.03 | 0.00 |
| E256040 | CM23-08 | Core | 52.9 | 54.5 | 1.5 | 0.06 | 0.00 |
| E256041 | CM23-08 | Core | 54.5 | 57.5 | 3.0 | 0.19 | 0.01 |
| E256042 | CM23-08 | Core | 57.5 | 57.8 | 0.3 | 0.15 | 0.00 |
| E256044 | CM23-08 | Core | 57.8 | 58.4 | 0.5 | 0.57 | 0.02 |
| E256045 | CM23-08 | Core | 58.4 | 59.1 | 0.8 | 0.01 | 0.00 |
| E256046 | CM23-08 | Core | 59.1 | 60.7 | 1.5 | 0.34 | 0.01 |
| E256047 | CM23-08 | Core | 60.7 | 62.2 | 1.5 | 0.27 | 0.01 |
| E256048 | CM23-08 | Core | 62.2 | 63.7 | 1.5 | 0.61 | 0.02 |
| E256050 | CM23-08 | Core | 63.7 | 65.2 | 1.5 | 1.52 | 0.04 |
| E256051 | CM23-08 | Core | 65.2 | 66.7 | 1.5 | 0.19 | 0.01 |
| E256052 | CM23-08 | Core | 66.7 | 67.6 | 0.8 | 0.25 | 0.01 |
| E256053 | CM23-08 | Core | 67.6 | 68.9 | 1.3 | 0.01 | 0.00 |
| E256054 | CM23-08 | Core | 68.9 | 70.4 | 1.5 | <0.01 | <0.0003 |
| E256056 | CM23-08 | Core | 70.4 | 71.9 | 1.5 | 0.01 | 0.00 |
| E256057 | CM23-08 | Core | 71.9 | 73.5 | 1.5 | 0.01 | 0.00 |
| E256058 | CM23-08 | Core | 73.5 | 75.0 | 1.5 | 0.03 | 0.00 |
| E256059 | CM23-08 | Core | 75.0 | 76.5 | 1.5 | 0.03 | 0.00 |
| E256060 | CM23-08 | Core | 76.5 | 78.0 | 1.5 | 0.03 | 0.00 |
| E256062 | CM23-08 | Core | 78.0 | 79.0 | 1.0 | <0.01 | <0.0003 |
| E256063 | CM23-08 | Core | 79.0 | 80.5 | 1.5 | 0.15 | 0.00 |
| E256064 | CM23-08 | Core | 80.5 | 82.0 | 1.5 | 0.05 | 0.00 |
| E256065 | CM23-08 | Core | 82.0 | 83.5 | 1.5 | 0.01 | 0.00 |
| E256067 | CM23-08 | Core | 83.5 | 85.0 | 1.5 | 0.04 | 0.00 |
| E256068 | CM23-08 | Core | 85.0 | 86.6 | 1.5 | 0.15 | 0.00 |
| E256069 | CM23-08 | Core | 86.6 | 86.8 | 0.3 | 0.13 | 0.00 |
| E256070 | CM23-08 | Core | 86.8 | 88.3 | 1.4 | 0.11 | 0.00 |
| E256071 | CM23-08 | Core | 88.3 | 89.6 | 1.3 | 0.45 | 0.01 |
| E256073 | CM23-08 | Core | 89.6 | 91.1 | 1.5 | 0.19 | 0.01 |
| E256074 | CM23-08 | Core | 91.1 | 92.7 | 1.5 | 0.68 | 0.02 |
| E256075 | CM23-08 | Core | 92.7 | 94.2 | 1.5 | 3.73 | 0.11 |
| E256076 | CM23-08 | Core | 94.2 | 95.7 | 1.5 | 0.77 | 0.02 |
| E256077 | CM23-08 | Core | 95.7 | 97.1 | 1.4 | 0.48 | 0.01 |
| E256078 | CM23-08 | Core | 97.1 | 97.5 | 0.4 | 1.52 | 0.04 |
| E256080 | CM23-08 | Core | 97.5 | 98.8 | 1.3 | 1.49 | 0.04 |
| E256081 | CM23-08 | Core | 98.8 | 100.3 | 1.5 | 4.11 | 0.12 |
| E256082 | CM23-08 | Core | 100.3 | 101.8 | 1.5 | 1.02 | 0.03 |
| E256083 | CM23-08 | Core | 101.8 | 103.3 | 1.5 | 2.33 | 0.07 |
| E256084 | CM23-08 | Core | 103.3 | 104.8 | 1.5 | 1.50 | 0.04 |
| E256086 | CM23-08 | Core | 104.8 | 106.4 | 1.5 | 2.65 | 0.08 |
| E256088 | CM23-08 | Core | 106.4 | 107.9 | 1.5 | 0.85 | 0.25 |
| E256089 | CM23-08 | Core | 107.9 | 109.4 | 1.5 | 9.99 | 0.29 |
| E256090 | CM23-08 | Core | 109.4 | 110.9 | 1.5 | 0.44 | 0.01 |
ASX Release 19 June 2023
| Sample_ID | Hole_ID | Drill Type | From (m) | To (m) | Length (m) | Au ppm | Au opt |
|---|---|---|---|---|---|---|---|
| E256091 | CM23-08 | Core | 110.9 | 112.5 | 1.5 | 1.14 | 0.03 |
| E256092 | CM23-08 | Core | 112.5 | 114.0 | 1.5 | 0.76 | 0.02 |
| E256093 | CM23-08 | Core | 114.0 | 115.5 | 1.5 | 0.86 | 0.03 |
| E256095 | CM23-08 | Core | 115.5 | 116.6 | 1.1 | 16.00 | 0.47 |
| E256096 | CM23-08 | Core | 116.6 | 118.3 | 1.6 | 21.85 | 0.64 |
| E256097 | CM23-08 | Core | 118.3 | 119.8 | 1.5 | 11.90 | 0.35 |
| E256098 | CM23-08 | Core | 119.8 | 121.3 | 1.5 | 17.45 | 0.51 |
| E256099 | CM23-08 | Core | 121.3 | 122.8 | 1.5 | 12.10 | 0.35 |
| E256100 | CM23-08 | Core | 122.8 | 124.4 | 1.5 | 10.60 | 0.31 |
| E256102 | CM23-08 | Core | 124.4 | 125.9 | 1.5 | 36.10 | 1.06 |
| E256103 | CM23-08 | Core | 125.9 | 127.4 | 1.5 | 20.00 | 0.58 |
| E256104 | CM23-08 | Core | 127.4 | 128.6 | 1.2 | 16.30 | 0.48 |
| E256105 | CM23-08 | Core | 128.6 | 129.6 | 1.0 | 42.19 | 1.23 |
| E256106 | CM23-08 | Core | 129.6 | 131.1 | 1.4 | 9.16 | 0.27 |
| E256107 | CM23-08 | Core | 131.1 | 132.6 | 1.5 | 16.35 | 0.48 |
| E256109 | CM23-08 | Core | 132.6 | 134.1 | 1.5 | 18.70 | 0.55 |
| E256110 | CM23-08 | Core | 134.1 | 135.6 | 1.5 | 26.10 | 0.76 |
| E256111 | CM23-08 | Core | 135.6 | 137.2 | 1.5 | 24.90 | 0.73 |
| E256112 | CM23-08 | Core | 137.2 | 137.8 | 0.6 | 35.60 | 1.04 |
| E256113 | CM23-08 | Core | 137.8 | 139.0 | 1.2 | 53.70 | 1.57 |
| E256114 | CM23-08 | Core | 139.0 | 139.2 | 0.2 | 45.50 | 1.33 |
| E256116 | CM23-08 | Core | 139.2 | 139.6 | 0.5 | 13.20 | 0.39 |
| E256117 | CM23-08 | Core | 139.6 | 141.1 | 1.5 | 6.66 | 0.19 |
| E256118 | CM23-08 | Core | 141.1 | 142.6 | 1.5 | 4.36 | 0.13 |
| E256119 | CM23-08 | Core | 142.6 | 144.2 | 1.5 | 6.97 | 0.20 |
| E256120 | CM23-08 | Core | 144.2 | 145.7 | 1.5 | 15.30 | 0.45 |
| E256121 | CM23-08 | Core | 145.7 | 147.2 | 1.5 | 11.55 | 0.34 |
| E256123 | CM23-08 | Core | 147.2 | 148.4 | 1.2 | 2.40 | 0.07 |
| E256124 | CM23-08 | Core | 148.4 | 150.0 | 1.6 | 0.35 | 0.01 |
| E256125 | CM23-08 | Core | 146.9 | 151.5 | 4.6 | 0.13 | 0.00 |
ASX Release 19 June 2023
JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation | Commentary |
| Sampling | • Nature and quality of sampling (eg cut | • As of 10/06/2023, the Colosseum Mine, Colosseum |
| techniques | channels, random chips, or specific | Rare Metals, INC. has completed 440 metres of |
| specialised industry standard measurement | drilling in 3 drill holes. All the drilling was done from | |
| tools appropriate to the minerals under | surface with a diamond drill core. Industry standard | |
| investigation, such as down hole gamma | core handling and sampling procedures were | |
| sondes, or handheld XRF instruments, etc). | employed to ensure high quality samples. | |
| These examples should not be taken as | • Core sample boundaries were defined by changes in | |
| limiting the broad meaning of sampling. | lithology, alteration, and mineralisation noted in | |
| • Include reference to measures taken to | logging. | |
| ensure sample representivity and the | • Collar to toe assays were taken and sent to labs for | |
| appropriate calibration of any measurement | analysis. | |
| tools or systems used. | • Core was cut along the long axis leaving half for | |
| • Aspects of the determination of | assay and half to be stored in cardboard core boxes. | |
| mineralisation that are Material to the | • Samples from drill holes were sent to ALS Global and | |
| Public Report. | Paragon Geochemical in Reno, Nevada for sample | |
| • In cases where ‘industry standard’ work has | preparation and assay. Samples were dried, | |
| been done this would be relatively simple (eg | weighed, crushed and split to obtain 250 gm. | |
| ‘reverse circulation drilling was used to | Samples were placed in ring and puck grinder to | |
| obtain 1 m samples from which 3 kg was | produce 85% minus 75-micron pulp. This material | |
| pulverised to produce a 30 g charge for fire | was blended on clean cloth and packaged in paper | |
| assay’). In other cases more explanation | pulp bags. Using a pulp balance, a 30-gm sample | |
| may be required, such as where there is | was weighted out for traditional fire assay. Samples | |
| coarse gold that has inherent sampling | were analysed using standard fire assay for gold. | |
| problems. Unusual commodities or | Over limits were analysed via gravimetric analysis. | |
| mineralisation types (eg submarine nodules) | • All samples followed a strict Chain of Custody. | |
| may warrant disclosure of detailed | • Routine QAQC samples were inserted in the sample | |
| information. | runs at a rate of 20%, comprising Certified | |
| Reference Materials from CDN Resource | ||
| Laboratories Ltd., and verified blank granitic | ||
| material. | ||
| • Sampling practice is appropriate to the geology and | ||
| mineralisation of the deposit and complies with | ||
| industry best practice. | ||
| Drilling | • Drill type (eg core, reverse circulation, open- | • The drilling program utilizes surface core drilling. |
| techniques | hole hammer, rotary air blast, auger, | • The core drilling is being conducted with an |
| Bangka, sonic, etc) and details (eg core | Everdigm cat 4 drill with HQTT core tooling. Triple | |
| diameter, triple or standard tube, depth of | tubes were used for the for all holes to increase | |
| diamond tails, face-sampling bit or other | recoveries. The drilling has been completed by an | |
| type, whether core is oriented and if so, by | experienced diamond drilling core driller. | |
| what method, etc). | ||
| Drill sample | • Method of recording and assessing core and | • All drilling recoveries have been logged and |
| recovery | chip sample recoveries and results assessed. | notated each run based on 3.05-meter tooling. |
| • Measures taken to maximise | • To maximize sample recoveries, use of triple | |
| sample recovery and ensure | tube and long chain polymer muds were used | |
| representative nature of the | to increase recovery. | |
| samples. | • There has been no analysis between sample | |
| • Whether a relationship exists between | recoveries and grade to date. | |
| sample recovery and grade and whether | ||
| sample bias may have occurred due to | ||
| preferential loss/gain of fine/coarse | ||
| material. |
ASX Release 19 June 2023
| Criteria | JORC Code explanation | Commentary | |
| Logging | • Whether core and chip samples have | • Core samples were geologically logged. Lithology, | |
| been geologically and geotechnically | veining, alteration, mineralisation, and weathering are | ||
| logged to a level of detail to support | recorded in the appropriate tables of the drill hole | ||
| appropriate Mineral Resource | database. | ||
| estimation, mining studies and | • Each core box was photographed dry and wet, after | ||
| metallurgical studies. | logging of unit and structures were notated on the | ||
| • Whether logging is qualitative or | core. | ||
| quantitative in nature. Core (or costean, | • Core was cut along the long axis using a diamond saw, | ||
| channel, etc) photography. | half-core was sampled, and half stored for reference. | ||
| • The total length and percentage of the relevant | • Geological logging of core samples is | ||
| intersections logged. | qualitative and quantitative in nature. | ||
| Sub-sampling | • If core, whether cut or sawn and whether | • All drill core samples were cut along the long axis. The | |
| techniques and | quarter, half or all core taken. | left side when looking down hole was sampled. | |
| sample | • If non-core, whether riffled, tube | Samples were placed in a heavy-duty poly sample bag. | |
| preparation | sampled, rotary split, etc and whether | Each core sample placed in heavy duty poly sample | |
| sampled wet or dry. | bag, noted interval width in sample book, with a | ||
| • For all sample types, the nature, | sample tag with the corresponding sample number | ||
| quality and appropriateness of the | placed in the bag with the other tag stapled to the top | ||
| sample preparation technique. | of the bag. Sample bags were stapled along the top. | ||
| • Quality control procedures adopted for all | Samples were sent by freight to ALS Global, or Paragon | ||
| sub-sampling stages to maximise | Geochemical in Reno, Nevada. | ||
| representivity of samples. | • Routine QAQC samples were inserted at a 20% rate | ||
| • Measures taken to ensure that the sampling is | into the sample batches and comprised Certified | ||
| representative of the in-situ material collected, | Reference Materials (CRMs) from CDN Resource | ||
| including for instance results for field | Laboratories Ltd. and verified blank granitic material. | ||
| duplicate/second-half sampling. | • Rock samples sent to ALS Laboratories and Paragon | ||
| • Whether sample sizes are appropriate to the | Geochemical were dried, weighed, crushed, and | ||
| grain size of the material being sampled. | split, with a split pulverized to better than 85% | ||
| passing 75 microns. Samples were analysed for trace | |||
| elements using 4-acid digestion. Additionally, rocks | |||
| samples were analysed by standard 30gm fire assay | |||
| for gold and silver. | |||
| • Sample size assessment was not conducted but used | |||
| sampling size which is typical for gold deposits. | |||
| Quality of | • The nature, quality and appropriateness of | • Samples were assayed by industry standard | |
| assay data | the assaying and laboratory procedures used | methods by ALS Global Laboratories, and Paragon | |
| and | and whether the technique is considered | Geochemical, in Reno, Nevada. | |
| laboratory | partial or total. | • Fire assays for gold was completed using | |
| tests | • For geophysical tools, spectrometers, | industry standard fire assay methodology. | |
| handheld XRF instruments, etc, the parameters | • External certified standards and blank material | ||
| used in determining the analysis including | were added to the sample submission. | ||
| instrument make and model, reading times, | |||
| calibrations factors applied and their | |||
| derivation, etc. | |||
| • Nature of quality control procedures adopted | |||
| (eg standards, blanks, duplicates, external | |||
| laboratory checks) and whether acceptable | |||
| levels of accuracy (ie lack of bias) and | |||
| precision have been established. | |||
| Verification | of | • The verification of significant intersections | • Sampling, documentation and sample submittal were |
| sampling | and | by either independent or alternative | under the guidance and care of Graham Craig, GIT |
| assaying | company personnel. | (Association of Professional Engineers and Geoscientists | |
| • The use of twinned holes. | of Manitoba). | ||
| • Documentation of primary data, | • Drilling, sample, and assay data is currently stored | ||
| data entry procedures, data | in MX Deposit, a secured data management |
ASX Release 19 June 2023
| Criteria | JORC Code explanation | Commentary |
| verification, data storage (physical | system through Seequent. | |
| and electronic) protocols. | ||
| • Discuss any adjustment to assay data. | ||
| Location of | • Accuracy and quality of surveys used to locate | • All drill hole collars are surveyed using differential GPS |
| data points | drill holes (collar and down-hole surveys), | survey equipment. The positions are accurate to within |
| trenches, mine workings and other locations | 10 cm x-y and height (z) to +/- 20 cm. | |
| used in Mineral Resource estimation. | • The holes are surveyed in UTM WGS 84 coordinate | |
| • Specification of the grid system used. | system. | |
| • Quality and adequacy of topographic | • Down hole surveys will be done using a Reflex EZ- | |
| control. | TRAC magnetic downhole survey tool on all diamond | |
| drill holes. With collars surveyed using Reflex TN-14 | ||
| Azi-Aligner. | ||
| • Sample locations were surveyed using UTM WGS 84 | ||
| coordinate system. | ||
| Data spacing | • Data spacing for reporting of Exploration | • The spacing and location of data is currently 5-15 |
| and | Results. | meter spacing according to previous Mineral |
| distribution | • Whether the data spacing, and distribution is | Resource estimation completed by Barbara Carroll, |
| sufficient to establish the degree of geological | CPG (American Institute of Professional Geologists) | |
| and grade continuity appropriate for the | of GeoGRAFX Consulting, LLC. | |
| Mineral Resource and Ore Reserve estimation | • No sample compositing has been applied at this time. | |
| procedure(s) and classifications applied. | ||
| • Whether sample compositing has been applied. | ||
| Orientation of | • Whether the orientation of sampling achieves | • Drill holes are planned to be drilled along strike due to |
| data in relation | unbiased sampling of possible structures and | limited areas available to drill from. Definition of |
| to geological | the extent to which this is known, considering | structure location is the principal goal. |
| structure | the deposit type. | • Sample orientation is deemed to be |
| • If the relationship between the drilling | representative for reporting purposes. | |
| orientation and the orientation of key | • No bias is considered to have been introduced | |
| mineralised structures is considered to have | by the existing sampling orientation. | |
| introduced a sampling bias, this should be | ||
| assessed and reported if material. | ||
| Sample | • The measures taken to ensure sample security. | • All samples were taken and maintained under the |
| security | constant care of Colosseum Rare Metals, INC. | |
| personnel. Samples were delivered to laboratories | ||
| by a licensed transportation company. | ||
| Audits or | • The results of any audits or reviews of sampling | • Drill hole sampling techniques and QAQC |
| reviews | techniques and data. | procedures have been developed and reviewed by |
| Dale Sketchley, M.Sc., P. Geo. of Acuity Geoscience | ||
| Ltd., Graham Craig, GIT. | ||
| • The QAQC program has demonstrated its ability to | ||
| catch errors. | ||
| • A QAQC review will be completed for this program. | ||
| • Mineral resource estimations and JORC 2022 completed | ||
| by Barbara Carroll, CPG. |
ASX Release 19 June 2023
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | JORC Code explanation | Commentary |
| Mineral | • Type, reference name/number, location and | • The Colosseum Mine project is located in T17N R13E |
| tenement and | ownership including agreements or material | Sec 10, 11, 14, 15, 22, 23 SB&M. |
| land tenure status |
issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. |
• All tenements are 100% owned by Dateline Resources Limited or a wholly owned subsidiary and there exist production-based royalties as previously disclosed to ASX. |
| • The security of the tenure held at the time of | ||
| reporting along with any known impediments | ||
| to obtaining a licence to operate in the area. | ||
| Exploration | • Acknowledgment and appraisal of exploration by | • Historical work has been completed by various mining |
| done by other | other parties. | companies since 1972. |
| parties | Draco Mines (1972-1974) | |
| Placer Amex (1975-1976) | ||
| Draco Mines (1980) | ||
| Amselco (1982-1984 | ||
| Dallhold Resources/Bond Gold (1986-1989 | ||
| Lac Minerals (1989-1994) | ||
| • All the companies were reputable, well-known | ||
| mining/exploration companies that followed the | ||
| accepted industry standard protocols of the time. | ||
| • Review of this work was completed by GeoGRAFX | ||
| Consulting, LLC in 2022. | ||
| • All previous work undertaken by others is non-JORC | ||
| compliant. | ||
| Geology | • Deposit type, geological setting and style of | • The Colosseum mine is hosted by Cretaceous aged |
| mineralisation. | breccia-pipe. The pipe contains aphanitic Cretaceous | |
| rhyolite flows, Pre-Cambrian granitic basement | ||
| material, and Cambrian-Devonian dolomite clasts | ||
| replaced by sulphide mineralisation. | ||
| • The gold mineralisation occurs in brecciated felsite | ||
| and sediment clast replaced by sulphides. | ||
| Drill hole | • A summary of all information material to the | • See Table 1 within this report for details of the |
| Information | understanding of the exploration results | drill holes and sample locations. |
| including a tabulation of the following | ||
| information for all Material drill holes: | ||
o easting and northing of the drill hole collar |
||
o elevation or RL (Reduced Level – |
||
| elevation above sea level in metres) of | ||
| the drill hole collar | ||
o dip and azimuth of the hole |
||
o down hole length and interception depth |
||
o hole length. |
||
| • If the exclusion of this information is justified on | ||
| the basis that the information is not Material | ||
| and this exclusion does not detract from | ||
| the understanding of the report, the Competent | ||
| Person should clearly explain why this is the | ||
| case. |
ASX Release 19 June 2023
| Criteria | JORC Code explanation | Commentary |
| Data | • In reporting Exploration Results, weighting | • Drill hole intersections are reported above a |
| aggregation | averaging techniques, maximum and/or | lower exploration cut-off grade of 0.1 g/T Au |
| methods | minimum grade truncations (eg cutting of high | and no upper cut off grade has been applied. |
| grades) and cut-off grades are usually Material | ||
| and should be stated. | ||
| • Where aggregate intercepts incorporate short | ||
| lengths of high-grade results and longer | ||
| lengths of low-grade results, the procedure | ||
| used for such aggregation should be stated and | ||
| some typical examples of such aggregations | ||
| should be shown in detail. | ||
| • The assumptions used for any reporting of | ||
| metal equivalent values should be clearly | ||
| stated. | ||
| Relationship | • These relationships are particularly | • Drill holes are orientated along |
| between | important in the reporting of Exploration | apparent strike of the breccia pipe |
| mineralisation | Results. | due to limited drill pad locations. |
| widths and | • If the geometry of the mineralisation with | • Interception angles of the mineralised |
| intercept | respect to the drill hole angle is known, its | structures are estimated using core |
| lengths | nature should be reported. | drilling intercepts and existing 3D |
| • If it is not known and only the down hole lengths | models of the pipe orientation. | |
| are reported, there should be a clear statement | ||
| to this effect (eg ‘down hole length, true width | ||
| not known’). | ||
| Diagrams | • Appropriate maps and sections (with scales) | • Supporting figures have been included within the |
| and tabulations of intercepts should be | body of this release. | |
| included for any significant discovery being | ||
| reported These should include, but not be | ||
| limited to a plan view of drill hole collar | ||
| locations and appropriate sectional views. | ||
| Balanced | • Where comprehensive reporting of all | • Representative reporting of both low and high grades |
| reporting | Exploration Results is not practicable, | and/or widths have been reported. |
| representative reporting of both low and | ||
| high grades and/or widths should be | ||
| practiced to avoid misleading reporting of | ||
| Exploration Results. | ||
| Other | • Other exploration data, if meaningful and | |
| substantive | material, should be reported including (but not | |
| exploration | limited to): geological observations; geophysical | |
| data | survey results; geochemical survey results; bulk | |
| samples – size and method of treatment; | ||
| metallurgical test results; bulk density, | ||
| groundwater, geotechnical and rock | ||
| characteristics; potential deleterious or | ||
| contaminating substances. | ||
| Further work | • The nature and scale of planned further | • At Colosseum, future work will include expanded |
| work (eg tests for lateral extensions or | drilling between the North and South pits, mapping | |
| depth extensions or large-scale step-out | and sampling of open pit benches; as well as infill | |
| drilling). | and expanded surface soil geochemistry, geological | |
| • Diagrams clearly highlighting the areas of | mapping, and geophysics. | |
| possible extensions, including the main | ||
| geological interpretations and future drilling | ||
| areas, provided this information is not | ||
| commercially sensitive. |