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DATELINE RESOURCES LIMITED — Interim / Quarterly Report 2020
Jul 30, 2020
64793_rns_2020-07-30_a07c018f-243e-4dac-b43b-790acc7d87b2.pdf
Interim / Quarterly Report
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June 2020 Quarterly Report
ASX Release 31 July 2020
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DATELINERESOURCES LIMITED
(ACN149105653) ASX Code:DTR
CAPITALSTRUCTURE
Share Price (30/07/20)$0.002 Shares on issue 8,210million Market Cap $16.4million UnlistedOptions 10million
MAJORSHAREHOLDERS
Southern Cross ExplorationNL 32.5% Mr. Mark JohnsonAO 19.6% National NomineesLtd 15.4%
DIRECTORS & MANAGEMENT
Mark JohnsonAO Chairman
Stephen Baghdadi ManagingDirector
GregHall Non-ExecutiveDirector
Tony Ferguson Non-Executive Director
Dateline Resources Limited (ASX:DTR) (“Dateline” or the “Company”), provides this Activities Report for the three-month period ending 30 June 2020.
Impacts of Covid-19
During the June quarter, the company limited its field activities to surface mapping and general maintenance and compliance related tasks. This was done in direct response to the prevailing Covid-19 situation in the USA.
Notwithstanding the reduced field work, the company was able to commence detailed field mapping at the Gold Links project and undertake a desktop review of its previous 15 months field work.
Gold Links– Colorado USA 100% owned
The Company commenced an extensive desktop review of the previous 15 months field work on both its 100% owned Gold Links and Green Mountain projects. The objective of the review is to
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Better understand the geological conditions that create high-grade shoots within the Gold Links veins
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Finalise the geological modelling of the drill defined mineralised shoots of the 2150 vein
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Plan the next stage of exploration and potential resource definition at both Green Mountain and Gold Links
Gold Links – Surface mapping
John Smith CompanySecretary
CONTACT John Smith Phone:+612 93752353 PostalAddress:P.O.Box 553 South Hurstville NSW2221 Email:[email protected]
The company commence a comprehensive surface mapping program across the entire Gold Links project. The objective of the program is to build on known data compiled during the 1980’s and to identify likely drill targets that could be either new veins or surface expressions on known underground veins
A number of follow up targets have been identified and the mapping will be completed during the September quarter
To date a total of 80 samples have been collected and dispatched to ALS for analysis.
ASX Release 31 July 2020
For more information, please contact:
John Smith
CFO / Company Secretary +61 2 9375 2353
www.datelineresources.com.au
About Dateline Resources Limited
Dateline Resources Limited (ASX: DTR) is an Australian publicly listed company focused on gold mining and exploration in Colorado, United States of America. The Company owns 100% of the Gold Links projectwhich is located in Gunnison County
The Gold Links is comprised of several contiguous historic gold mines that have been consolidated by the company. Gold Links has produced up to 150,000 oz of highgrade gold (see ASXannouncement of 8 February2019)
Mineralisation can be traced on surface and underground for almost 6km from the Northern to the Southern sections of the project. Well documented records indicate that there are large areas that remain untested at surface and little to no exploration has been done below the valleyfloor.
Dateline also owns the Green Mountain project that hosts the Lucky Strike and Mineral Hill permitted gold properties and has recommissioned a gold processing plant located at the Lucky Strike Mine. The Gold Links and the Lucky Strike are located approximately 50km apart.
Competent Person’s Statement
Exploration information in this announcement is based upon work reviewed reviewed by Mr Gregory Hall who is a Chartered Professional of Australasian Institute of Mining and Metallurgy (CP-IMM) and undertaken by Mr Allen David V. Heyl who is a Certified Professional Geologist of the American Institute of Professional Geologists (AIPG) and by Dahrouge Geological consultants. Mr Gregory 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 qualify as a ‘Competent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Gregory Hall is a non-executive Director of Dateline Resources Ltd and consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Forward Looking Statement s
This Announcement is provided on the basis that neither the Company nor its representatives make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Announcement and nothing contained in the Announcement is, or may be relied upon as a promise, representationor warranty,whetheras to the past or the future. The Companyhereby excludes all warrantiesthat can be excluded by law. The Announcementcontains material which is predictive in nature and may be affected by inaccurate assumptions or by known and unknown risks and uncertainties and may differ materially from results ultimatelyachieved.
The Announcement contains “forward-looking statements”. All statements other than those of historical facts included in the Announcement are forward-looking statements including estimates of Mineral Resources. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, copper, gold and othermetals price volatility,currencyfluctuations,increased productioncosts and variancesin ore grade recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events or circumstances after the date of the Announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicablesecurities laws. All persons shouldconsiderseeking appropriateprofessionaladvicein reviewing the Announcementand all otherinformation with respect to the Companyand evaluatingthe business, financialperformanceand operationsof the Company.
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ASX Release 31 July 2020
Sacramento
Adit
Raymond
Reynolds Adit
Carter
Adit
Adit
Gold Links North Gold Links Centre Gold Links South
This image is intended as a guide only and is not a surveyed map of our true boundaries
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| Gold Links Northincludes | Gold Links Centre includes | Gold Links Southincludes |
|---|---|---|
| Sacramento Adit | RaymondAdit | Carter Adit |
| Sacramento vein | 600vein | 100vein |
| 950vein | 300vein | |
| Reynolds Adit | 1100vein | 800vein |
| 1200vein | 1200vein | 1320vein |
| 1740vein | 1700vein | 1440vein |
| 2100vein | 1800vein | 1480vein |
| 2150vein | 1825vein | 1550vein |
| 2200vein | 2457vein | 1925vein |
| 2600vein | 3300vein | 2385vein |
| 2800vein | Jessie vein | 2500vein |
| 3300vein | Gold Monument vein | 2835vein |
| Maggie Mitchell vein | 3040vein | |
| Dateline discovered | Volunteer vein | 3131vein |
| Hill vein | Upper Raymondvein | 3640vein |
| West vein | 3750vein | |
| Veins starting with digits represent the number of feet from the start of the portal and were discovered and mapped from insidethe adit |
4085vein | |
| 4778vein | ||
| 4868vein | ||
| Veins that don't start with digits were discovered from surface outcrops | 4883vein | |
| 6300vein | ||
| Farleyvein | ||
| Only the 2150vein has been drilled below the valley floor | Grand Prize vein | |
| Volunteer vein | ||
| Chloride vein |
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