67% of BFS Drilling Done at Colosseum with 1.1Moz Gold Resource in Focus

Progressing the Bankable Feasibility Study

Dateline Resources Limited is steadily advancing its Colosseum Gold-Rare Earth Elements (REE) Project in California, with the Bankable Feasibility Study (BFS) drilling program now 67% complete. The current phase involves 32 holes totaling over 4,200 metres, targeting infill and extensional drilling to upgrade inferred resources to measured and indicated categories. This upgrade is critical for refining mine scheduling and production planning, underpinning the project's path toward development.

Samples from completed holes have been sent to ALS Reno for analysis, with results eagerly awaited by the market. The BFS drilling also includes geotechnical and tailings stability assessments, ensuring the project’s infrastructure can support future operations.

Unlocking Value from Historical Stockpiles

In a strategic move to enhance early production, Dateline plans to drill approximately 1 million tonnes of historical ore stockpiles left onsite since operations paused in 1993. These stockpiles are estimated to contain around 30,000 ounces of gold at roughly 1 gram per tonne. Confirming grade continuity through reverse circulation drilling could allow this material to be processed during commissioning, providing an early feed source and improving project economics.

Sustainable Tailings Management Confirmed

Environmental and operational sustainability is a key focus, with sonic drilling confirming the stability of the existing tailings storage facility (TSF). Dateline intends to reuse this facility with a dry-stack tailings approach, which involves filter pressing tailings to reduce water use and enable stacking of dry material. This method supports water conservation and allows for additional facility lifts, aligning with modern environmental standards and reducing operational risks.

Shifting Focus to New Exploration Targets

With BFS drilling nearing completion, Dateline is poised to pivot toward testing newly identified high-priority gold and rare earth element targets. Initial drilling will focus on three gold breccia pipe targets and a significant REE anomaly labeled 2200N. The proximity of Colosseum to the Mountain Pass Rare Earth mine; less than 10 kilometres away; adds intrigue to the REE potential, which remains unquantified but geologically promising.

These exploration efforts could unlock additional value beyond the current 1.1 million ounce gold resource, which is already robust with over 67% classified as measured and indicated. The project’s updated economics, announced earlier this year, show an NPV of US$550 million and an IRR of 61% at a gold price of US$2,900 per ounce, underscoring its attractive financial profile.

Looking Ahead

Dateline’s multi-rig drilling strategy has accelerated progress, positioning the company to deliver critical data that will shape the final feasibility study and mine plan. As assay results from BFS and new target drilling come to light, investors will be watching closely for signs of resource upgrades and the potential expansion of the project’s rare earth footprint.