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DATELINE RESOURCES LIMITED — Interim / Quarterly Report 2019
Oct 30, 2018
64793_rns_2018-10-30_d720a74c-803c-446f-a9b0-b850c34a6944.pdf
Interim / Quarterly Report
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DATELINE RESOURCES LIMITED QUARTERLY ACTIVITIES REPORT As at 30 September 2018
Dateline Resources Limited (“the Company” or “Dateline” or “DTR”) is pleased to present its Activities Report for the Quarter ended 30 September 2018.
| Project | Number | **Ownership ** | Location |
|---|---|---|---|
| Udu | SPL1387 | 100% | Fiji |
| Udu | SPL1396 | 100% | Fiji |
| Udu | SPL 1506 | 100% | Fiji |
| Udu | SPL 1507 | 100% | Fiji |
| Gold Links Permitted Mine | 34 Patented Claims | 100% | Colorado USA |
| Gold Links Permitted Mine | 20 Unpatented Claims | 100% | Colorado USA |
| Lucky Strike Permitted Mineand Mineral Hill Historic Mine | 19 Patented Claims | 100% | Colorado USA |
| Lucky Strike Permitted Mineand Mineral Hill Historic Mine | 13 Unpatented Claims | 100% | Colorado USA |
| Raymond and Carter Mines | 169 Patented Claims | 100% | Colorado USA |
In the three months ending September 2018, Dateline undertook the following activities:
Gold Links
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Assess the digitised data for the Gold Links Mine;
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Reviewed feasibility of recommencing operations from the 9450RL.
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Reviewed alternate methods to develop a second method of egress which will also give us access to lower areas of the mine; and
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Validated the results of the 1977 extension of the 2150 vein to 240ft below the main level of the Gold Links adit
Permitting
There were no new permitting developments for the September ’18 quarter.
Compliance
The Company remains in compliance of all regulatory requirements.
Sacramento zone
The Sacramento zone forms part of the Gold Links mine and is located a few hundred metres away from the 2150 Gold Links vein.
The Sacramento zone was last mined by shrink stooping in 1902. Mining occurred over three levels for only 75 metres below the surface (225ft) and for approximately 360m (1100ft) per level. In 1977 several diamond drill holes to test for mineralisation below the old workings returned encouraging results. The historical drill holes are non JORC compliant and cannot be relied upon for resource estimation.
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The Company has finalised plans for a surface drilling program to test the Sacramento zone at depth. The program is dependent on funding and weather
Carter and Raymond Mines
As announced on 21 September 2018, the Company completed the acquisition of the land that hosts the historic Raymond and Carter Mines. This land parcel abuts our Gold Links property and has known vein structures that appear to be extensions of the veins identified at the Gold Links mine.
The Carter Mine was in production until 1982. An Atlas Precious Metals non JORC compliant Estimated Geological Resource report states that the Raymond and Carter properties have the potential to host 1.5million tonnes at 15.5 grams per tonne for a total of 750,000 ounces of gold.
This report cannot be verified and there is no JORC compliant evidence that the report is correct and nor is DTR stating that it will be successful in confirming this estimate. As part of our near-term strategy, we intend to conduct a JORC compliant exploration program over the area and report the results as they become available.
The Lucky Strike Mine and Mill Assets
Lucky Strike Mine
The Lucky Strike mine is located under 50km away from the Gold Links mine.
Permitting
There were no new permitting requirements for the September ’18 quarter.
Compliance
The Company remains in compliance of all regulatory requirements.
- Lucky Strike Mill Commissioning
Commissioning of the mill is now complete.
Permitting
No new permitting requirements for the September quarter.
Compliance
The Company remains in compliance of all regulatory requirements.
Udu – Fiji
The Company is still waiting on the results of metallurgical test-work being carried out on core samples which were collected from site in December 2017. We expect the test work to establish if the Udu ore is amenable to separation and floatation and if it is we would
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actively seek a JV partner that is interested in completing a PFS for a 500,000tpa mining operation at Udu.
Finance
As disclosed in our annual report, the Company has been able to continue with operations and execute the Colorado strategy by obtaining loan funds. The tangible assets acquired in Colorado have been independently valued at USD14.4m (AU$20,000,000) excluding any value for the underlying minerals or prospectively thereof.
Further Information
For more information, visit www.datelineresources.com.au
John Smith Company Secretary