Dateline Resources Limited announced the estimation of a JORC-2012 compliant Mineral Resource of 20.9Mt @ 1.2g/t Au for 813,000oz at the Colosseum Gold Project in California, USA. Of the total Mineral Resource, 258koz @1.2g/t Au (32%) are classified as Measured, 322koz @1.2g/t Au (39%) as Indicated and 235koz @1.3g/t Au (29%) as Inferred. Dateline acquired a significant volume of hardcopy data as part of the Colosseum acquisition in 2021.

The data collected by the previous operators was to a very high-quality level, enabling a database that reflects the deposit to be collected and analysed. All of the drillhole data was reviewed and loaded into a relational database, building the first 3D view of the mine. In order for the Company to use the historical data and report to JORC-2012 standards, a program of confirmatory drillholes was completed.

These drillholes confirmed the mineralisation identified by previous operators and provided the confidence for the Mineral Resource estimate to be completed. This JORC-2012 compliant Mineral Resource estimate for the Colosseum Gold Mine was primarily based on information compiled by the previous operators in the decade prior to 1993. Later stages of mining focused on expanding the existing reserves to feed the mill, not exploration drilling at depth.

Mining was completed down to the 5800ft rl Bench on the North Pit and the 5300ft rl Bench on the South Pit. The current 2022 Mineral Resource estimate was calculated down to the 4900ft rl Bench, with only five holes drilled below that level. This included two very deep holes drilled to ~3,000 ft (~1,000 metres) vertical depth below the surface that confirmed the breccia pipes are still present at the end of the hole.

The Company believes that, based on the continuity of mineralisation within the Mineral Resource and the fact the breccia pipe has been intersected at depth, significant exploration potential exists below the current Mineral Resource estimate. As mineralisation forms a pipe-like structure and is relatively consistent over the full depth of the model, the Company believes there is excellent potential for this mineralisation to continue at depth. The Company is preparing plans to drill beneath the Mineral Resource model using a directional diamond rig to minimise surface disturbance and allow for multiple deviated drillholes to be drilled from the same collar position.

The block model for the Mineral Resource estimate was completed utilising data from 273 reverse circulation (RC) holes for 132,180 feet (40,288 metres), 33 rotary/percussion holes for 11,625 feet (3,543 metres), 31 diamond drillholes for 21,691 feet (6,611 metres), and 262 Air Trac holes for 16,948 feet (5,166 metres). All holes were used to create the block model. A total of 326 out of 599 holes were used in the Mineral Resource Estimate.