New Geological Data Confirms Potential for Expanded Gold and REE Deposits at Colosseum Project

Rhea-AI Summary

Dateline Resources (OTC:DTREF) has reported promising geological findings at its Colosseum Gold and Rare Earth Element Project in California. The project currently holds a JORC-2012 compliant Mineral Resource of 27.1 million tons at 1.26 g/t gold, totaling 1.1 million ounces. Recent analysis of gravity survey data and geochemical results suggests the presence of additional breccia pipes beyond the historically mined areas, indicating potential resource expansion. The project's economic assessment from May 2025 showed an NPV of US$550 million and an IRR of 61% at a gold price of US$2,900/oz. The company plans to launch a comprehensive exploration program in June 2025, including soil geochemical surveys and magneto telluric (MT) geophysical surveys, followed by a dedicated REE drilling program. The project's location in the Walker Lane Trend, near the Mountain Rare Earth mine, positions it strategically for REE exploration.

Positive

• Current resource of 1.1 million ounces of gold with significant measured and indicated portions
• Strong economic metrics with NPV of US$550 million and IRR of 61%
• New geological data suggests potential for additional mineralized zones
• Strategic location near Mountain Rare Earth mine enhances REE exploration potential

Negative

• Exploration results are preliminary and require further confirmation through drilling
• Project economics based on high gold price assumption of US$2,900/oz

SYDNEY, AUSTRALIA / ACCESS Newswire / June 2, 2025 / Dateline Resources Limited (ASX:DTR)(OTC:DTREF) announces an update on its 100%-owned Colosseum Gold and Rare Earth Element (REE) Project in California, detailing recent exploration findings and planned activities for 2025. Recent geological mapping and data analysis indicate the potential for the project's known resources to be significantly larger, based on evidence of a potentially broader mineralized system.

The Colosseum Project has a JORC-2012 compliant Mineral Resource of 27.1 million tons at 1.26 g/t gold, totaling 1.1 million ounces, with 455,000 ounces classified as Measured, 281,000 ounces as Indicated, and 364,000 ounces as Inferred. An economic assessment announced on May 23, 2025, reported an NPV of US$550 million and an IRR of 61% at a gold price of US$2,900/oz.

Recent re-examination of 2023 gravity survey data, cross referenced with new geochemical results, shows that gravity low anomalies align with the historically mined North and South breccia pipes and newly identified felsite outcrops located 200-900 meters west and southwest of the previously mined pits. This correlation suggests the presence of additional breccia pipes, which could host further gold mineralization. The data supports an interpretation of the Colosseum deposit as a larger breccia pipe complex, with the mined pipes potentially representing only the upper, eroded portions of a more extensive system.

Figure 1: Cross-section A-A′ (looking approximately north) showing the drilled Colosseum breccia pipe (blue volume) cantered within a pronounced gravity low (light blue colour) and recently sampled felsite dykes (red arrows) to the west also sit in gravity lows.

To further define this potential, Dateline will commence a comprehensive exploration program in June 2025. A four-week soil geochemical survey will collect samples across the project area on systematic grids to identify gold, REE, and pathfinder element anomalies. Concurrently, a magneto telluric (MT) geophysical survey will begin in late June to map subsurface structures and potential REE-bearing carbonatite bodies. These surveys will provide complementary datasets to refine drill targets. Dateline's technical team will integrate gravity, geochemical, and MT data to prioritize areas where these indicators converge, enhancing the likelihood of identifying potential mineralized zones.

Figure 2: Plan view map showing gravity data overlaid with proposed soil sampling locations (purple dots at 60 m spacing). The mined North and South breccia pipes lie within a central gravity low (blue), while newly sampled felsite outcrops on the western margin also coincide with a gravity low. Two circular gravity lows to the east of the pits represent untested potential breccia pipe targets. The soil sampling program is designed to geochemically test all these features to support vectoring for both gold and REE mineralisation

A dedicated REE drilling program is being finalized to test high-priority targets, including depth extensions of REE-bearing fenite/trachyte dykes and coincident gravity-MT anomalies. Drilling will also probe for extensions of the known gold-bearing breccia pipes and newly indicated targets. The program, supported by REE geologists Dr. Tony Mariano and Tony Mariano Jr., aims to confirm the presence and scale of additional gold and REE mineralization.

The Colosseum Project is located in the Walker Lane Trend, less than 10km from the Mountain Rare Earth mine, positioning it favorably for REE exploration. The combination of existing resources, new geological insights, and planned exploration supports the potential for significant resource growth.

About Dateline Resources Limited

Dateline Resources Limited (ASX:DTR) is an Australian publicly listed company focused on high-value mining and exploration in North America. The Colosseum REE and Gold Project, located in California's Walker Lane Trend, is a flagship asset with emerging REE potential and proven gold resources.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of applicable securities laws. These statements relate to future events or future performance and include, but are not limited to, statements regarding the potential of the Colosseum Project, the expected benefits of the OTCQB listing, the company's plans for future development, and the strategic importance of the project for U.S. critical minerals supply. Forward-looking statements are based on the company's current expectations, estimates, and projections, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. These risks and uncertainties include, but are not limited to: fluctuations in the prices of gold and rare earth elements; changes in regulatory requirements or permitting processes; geological or technical challenges in exploration and development; market conditions affecting the company's ability to raise capital; environmental or social factors impacting operations; risks associated with the OTCQB listing process or trading on a new market; environmental and permitting risks associated with operating in a national preserve; uncertainty regarding the delineation of a mineable rare earth elements resource; risks related to the company's ability to secure necessary funding for project development; and potential changes in government policies or priorities affecting the critical minerals sector. The company cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company does not undertake any obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Competent Person Statement

The exploration data has been reviewed by Mr. Greg Hall, a Chartered Professional of the Australasian Institute of Mining and Metallurgy (CP-IMM) and Non-Executive Director of Dateline. Mr. Hall, with extensive experience in IRGS-style mineralization, qualifies as a Competent Person under the JORC Code and consents to the inclusion of this information.

Contact Information

For further details, please contact:

• Stephen Baghdadi, Managing Director, +61 2 9375 2353, www.datelineresources.com.au

• Andrew Rowell, White Noise Communications, +61 400 466 226, andrew@whitenoisecomms.com

Follow Dateline on X: @Dateline_DTR

This announcement is authorized for release by the Dateline Resources Limited Board of Directors.

SOURCE: Dateline Resources Limited

View the original press release on ACCESS Newswire

FAQ

What is the current gold resource at Dateline Resources' Colosseum Project?

The Colosseum Project has a JORC-2012 compliant Mineral Resource of 27.1 million tons at 1.26 g/t gold, totaling 1.1 million ounces, with 455,000 ounces Measured, 281,000 ounces Indicated, and 364,000 ounces Inferred.

What is the economic potential of DTREF's Colosseum Project?

According to the May 2025 economic assessment, the project has an NPV of US$550 million and an IRR of 61% at a gold price of US$2,900/oz.

What exploration activities is Dateline Resources planning for 2025?

Dateline plans to conduct a soil geochemical survey, magneto telluric (MT) geophysical survey, and a dedicated REE drilling program starting in June 2025.

Where is the Colosseum Project located and what makes its location significant?

The project is located in the Walker Lane Trend in California, less than 10km from the Mountain Rare Earth mine, making it strategically positioned for REE exploration.

What new geological evidence suggests expanded mineral potential at the Colosseum Project?

Recent gravity survey data and geochemical results show gravity low anomalies aligning with historical mines and new felsite outcrops, suggesting additional breccia pipes that could host further gold mineralization.