BFS Drill Program Nearly Complete –
Release is correcting the image provided for Figure 2
SAN BERNARDINO, CALIFORNIA / ACCESS Newswire / October 27, 2025 / Dateline Resources Limited (ASX:DTR)(OTCQB:DTREF)(FSE:YE1) (Dateline or the Company) is pleased to provide an update on the drilling activities underway at its 100%-owned Colosseum Gold-REE Project in California, USA.
Three drill rigs are currently operating on site, one diamond rig and two reverse circulation (RC) rigs and until recently, the program was supported by an additional sonic rig that has now completed its tailings stability work and has been demobilised.
The current drilling phase is focused on compact infill, extensional, geotechnical, and tailings stability holes as part of the Bankable Feasibility Study (BFS). The broader program will shortly transition to testing several newly defined, high-priority gold and rare earth targets identified from recent geophysical and geochemical work across the Colosseum system.
Highlights
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BFS Drilling: The compact BFS drill program of 32 holes for 4,257 metres (13,968 feet) is 67% complete with an estimated end date of November 7, 2025.
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Stockpile Drilling: Approximately 1Mt of historical stockpiles grading ~1 g/t Au will be RC drilled to confirm grade continuity and support inclusion in the mine plan, potentially adding already mined ~30,000oz of gold to the feasibility inventory.
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Tailings Stability Drilling: A sonic drilling program over the existing tailings storage facility was completed, confirming the foundation is stable and suitable for additional lifts as part of the planned development.
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Exploration Targets: The major phase of the drilling campaign will focus on newly defined gold and rare earth targets, with both programs to be drilled concurrently. Drilling will begin on the high-priority gold breccia pipe targets (Targets 1, 5 and 6) alongside the 2200N REE target, the first of three defined anomalies to be tested.
Dateline’s Managing Director, Stephen Baghdadi, commented:“Having multiple rigs on site has allowed us to accelerate the program so we can focus our efforts sooner on the new gold and rare earth targets. With over 1,400 samples already at the lab, we look forward to reporting the results as they become available and are analysed.
“Our geology team is eager to commence drilling the new gold and REE targets in early November.”
BFS Drill Program Status
Infill and Extensional Program
The Scoping Study outlined 16.6 Mt of ore, with 81% classified as Measured and Indicated and the remaining 19% as Inferred. The current drill program is designed to infill these Inferred areas and support upgrades to Indicated or Measured categories, providing greater confidence in mine scheduling and production planning.
The infill component comprises 32 holes for 4,257 metres (13,968 feet) and is now 67% complete. Samples from the completed holes have been dispatched to ALS Reno for analysis.
Stockpile Drilling
When Dateline acquired the Colosseum Project in 2021, it inherited an existing ore stockpile left on site following the suspension of operations in 1993. Historical mine records indicate the stockpile contains approximately 1Mt grading 1.0 g/t Au for an estimated 30,000 ounces of gold.
To date, Dateline’s work has focused on expanding the in-situ Mineral Resource, and the stockpile has not yet been drilled or included in the current mine plan. The Company now intends to complete reverse-circulation (RC) drilling to confirm the tonnes and grade of this material, enabling it to be incorporated into the development schedule.
This mined stockpile has the potential to be processed during the commissioning phase of the operation, providing an early source of mill feed, accelerating gold production, and enhancing overall project economics.
Tailings Stability Drilling
Dateline plans to reutilise the existing tailings storage facility (TSF) at Colosseum as part of the proposed mine development. The design involves filter pressing the tailings prior to deposition, allowing the material to be stacked dry on top of the existing facility. This approach enables water recirculation, significantly reducing overall water consumption and supporting construction of additional TSF lifts.
To confirm the suitability of this approach, a program of sonic drilling was completed across the TSF site. The recovered core was reviewed by the Company’s hydrogeological consultants, who have provided their findings to the BFS team. Results confirmed the foundation stability and suitability of the existing TSF for future use as a dry-stack tailings and waste rock facility.
New Target Drilling
The BFS drilling programs were prioritised for completion ahead of the new target testing, as they form part of the critical path for the Colosseum development timeline. With these programs now nearing completion, the focus is shifting to the next phase of drilling-testing the newly defined gold and rare earth element (REE) targets.
Dateline has ranked several high-priority targets for initial assessment, with Gold Targets 1, 5 and 6 and REE Target 2200N to be drilled first as part of the expanded exploration campaign.
This ASX announcement has been authorised for release by the Board of Dateline Resources Limited.
For more information, please contact:
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Stephen Baghdadi |
Andrew Rowell |
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Follow Dateline on socials: |
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@Dateline_DTR @dateline_resources dateline-resources |
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About Dateline Resources Limited
Dateline Resources Limited (ASX: DTR, OTCQB: DTREF, FSE: YE1) is an Australian company focused on mining and exploration in North America. The Company owns 100% of the Colosseum Gold-REE Project in California.
The Colosseum Gold Mine is located in the Walker Lane Trend in East San Bernardino County, California. On 6 June 2024, the Company announced to the ASX that the Colosseum Gold mine has a JORC-2012 compliant Mineral Resource estimate of 27.1Mt @ 1.26g/t Au for 1.1Moz. Of the total Mineral Resource, 455koz @ 1.47/t Au (41%) are classified as Measured, 281koz @1.21g/t Au (26%) as Indicated and 364koz @ 1.10g/t Au (33%) as Inferred.
On 23 May 2025, Dateline announced that updated economics for the Colosseum Gold Project generated an NPV6.5 of US$550 million and an IRR of 61% using a gold price of US$2,900/oz.
The Colosseum is located less than 10km north of the Mountain Pass Rare Earth mine. Planning has commenced on drill testing the REE potential at Colosseum.
Dateline has also acquired the high-grade Argos Strontium Project, also located in San Bernadino County, California. Argos is reportedly the largest strontium deposit in the U.S. with previous celestite production grading 95%+ SrSO4.
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 forward-looking 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.
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 mineralization 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 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.
Company Confirmations
The Company confirms it is not aware of any new information or data that materially affects the information included in the announcements dated 23 October 2024 with regard to the Colosseum MRE and 23 May 2025 with regard to Colosseum Project Economics. Similarly, the Company confirms that all material assumptions and technical parameters underpinning the estimates and the forecast financial information referred to in those previous announcements continue to apply and have not materially changed.
SOURCE: Dateline Resources Limited
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