Dual-listed Dateline Resources saw its share price go ballistic on the United States market on Friday, on the back of the company’s latest modelling showing historically mined breccia pipes at its Colosseum gold project in California are surrounded by a large zoned felsite-breccia pipe complex. The company is also now firmly on the hunt for rare earth elements (REE) at the project.
Dateline’s share price was already on a huge run in Australia. The past four weeks have been spectacular, as the company’s share price repeatedly reached new highs on huge turnovers.
The trend continued today. Dateline’s share price closed at $0.145 on the ASX, up from $0.097 at Friday’s close, on almost 219.2M shares traded.
Based on a 15-cent trading price, Dateline’s ASX-listed share price has risen 4186 per cent so far in 2025 and 1567 per cent over May.
During last Friday’s trading in the US, the company hit US$0.20 (A$0.30) per share. Dateline is listed on the “pink sheets” OTC market in the US under the ticker DTREF but is looking to move to the higher-profile OTCQB Venture market to make its shares more accessible to investors.
Dateline’s revised modelling, based on old records and geological mapping, shows the Colosseum pipes were formed along with an underlying felsic intrusive event.
Recently sampled felsite dykes 200 metres to 900m from Colosseum’s open pits have a right-angled cross-fracture network and ring-dyke pattern typical of deep-seated intrusive bodies punched nearly vertically into the surrounding geology.
Along with identifying the network pattern, the discovery shows the two historically mined gold pipes correlate with a similar pattern of gravity lows defined by the company’s 2023 gravity survey.
The interpretation suggests the two Colosseum pipes could be just two of many breccia pipes in the complex. Unlike the rest of the breccia iceberg, the first two pipes rose to shallow depths and were exposed by subsequent erosion.
The model opens up a realm of gold exploration centres around the two historic gold workings, unveiling the possibility of finding more gold mineralised pipes in a regular pattern nearby, laterally and at unexplored depths.
Dateline has recently identified multiple exploration indicators, such as gravity lows, felsite intrusive dykes and intrusion-related gold system pathfinder geochemistry, which it says provide convincing vectors for a target-defining pathway.
In practical terms, this means that when targets have been defined by geophysics, Dateline can run surface mapping and geochemistry to detect any “gold bleed” from them at surface and/or to find remnant gold in the near-surface regolith.
It can also run a shallow scout drilling program in the upper zones of the pipes, interpreted at depth from gravity lows and which are beyond the reach of surface geochemistry.
Alternatively, given the high degree of fracturing of the area, ultra-low-level leach geochemistry may offer a possible solution to identifying deeper anomalism.
Inspired by the new model and its potential to accelerate the pace of gold discovery and building of additional resources, Dateline is already ramping up its multi-disciplinary geological, structural, geophysical and geochemical exploration approach to review its entire tenement area.
The company is hoping the approach will also help define the potential for rare earths within the Colosseum project area.
Dateline is about to launch a comprehensive soil sampling program across the greater Colosseum project area. The four-week campaign will comprise systematic pattern sampling over prospective gravity low target zones and along projected structural trends between them.
The analytical package is designed to identify geochemical anomalies associated with gold and rare earth elements and their pathfinders to bag the company’s next priority targets.
Dateline plans to start a magneto-telluric (MT) survey later in June across the project area.
The passive technique measures the Earth's subsurface electrical conductivity from measurements of natural geomagnetic and geoelectric field variation at surface.
It can outline large-scale structures, alteration zones and potential carbonatite-hosted rare earths bodies and/or fluid pathways that might not be evident from gravity or surface geochemistry alone.
As the new data is acquired, Dateline will integrate its already-defined gravity lows with geochemical data and any new MT signatures to refine its understanding of the subsurface geology and how the local structures determine mineralisation.
The company is also finalising plans for an inaugural drilling program to confirm gold and/or rare earth mineralisation in the new target zones and begin defining the scale and grade of any new discoveries.
The imminent drilling will test for possible gold extensions of the known breccia pipes and any indicated breccia bodies identified by the upcoming work.
Dateline also hopes the drilling will sniff out depth extensions of possible fenite/trachyte dykes that might host or be associated with rare earths. The company will also test coincident gravity-MT anomalies that might represent carbonatite intrusions, which stand a good chance of hosting rare earths.
Colosseum is historically a gold-producing mine, and the project’s rare earth-bearing outcrops were never explored by previous operators.
Dateline’s plan to evaluate Colosseum’s rare earth potential was in part inspired by the project’s geologic setting along strike from MP Materials’ famed Mountain Pass rare earth deposit. Mountain Pass is the US’s only operating rare earth mine and processing site.
Encouragingly, the US Geological Survey also identified strong thorium/uranium anomalism on the claims.
Dateline recently engaged two of the world’s foremost rare earth geologists to investigate the property’s potential. The field investigations identified multiple occurrences of fenite and related alkaline igneous dykes across the Colosseum claims.
According to the investigation report, the identification of “multiple outcrops of these lithologies at a distance of almost a mile apart” points to the possibility of a large, connected carbonatite system at depth.
This finding, coupled with laboratory analyses confirming the presence of anomalous rare earths, including neodymium, in the geology at Colosseum prompted Dateline to expand its rare earths exploration program.
In June last year, the company delivered a JORC-compliant measured and indicated resource of 27.1 million tonnes gold at an average grade of 1.26 grams per tonne for 1.1 million ounces gold.
More than 67 per cent of the combined measured and indicated reserve and resource categories exist beneath the two open pits, placing the project in a very advanced stage of exploration.
That resource looks like it might be just the beginning and when the new soil geochemical results start to trickle in during June and July, and drilling results come home a short time later, the company will know for sure if its model is working.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Doug Bright
