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By immoderate measurement Colosseum boasts immoderate exceptional drill intersections that you don’t readily find, adjacent successful immoderate of the better-known projects. Recent drilling besides shows immoderate singular grades and thicknesses including a important 100.6m deed weighing successful astatine 4.16g/t golden from 79m and 76.2m astatine 8.62g/t from 91m including a 23.5m conception going a stunning 21.8g/t. Another 70m intercept came successful astatine a precise respectable 6.53g/t gold.
If those intersections were discovered successful WA’s Eastern Goldfields, they would beryllium considered institution makers by the hardened punters that predominant the java shops of West Perth.
And portion 100m intersections moving supra 4g/t golden is singular successful its ain right, for a institution that besides boasts bluish entity uncommon earths accidental and a marketplace headdress nether $20m, Dateline is simply a uncommon breed indeed.
In addition, absorption besides believes determination remains sizeable upside astatine Colosseum for important underground ounces to beryllium hosted successful 2 high-grade breccia pipes, some of which were historically mined successful unfastened pits, 1 to 245m and the different to 90m. In fact, the institution is looking to beryllium up its mentation that the 2 breccia pipes whitethorn nexus up astatine depth.
While the existent mineral assets present extends to 300m beneath surface, it is besides understood that a mates of wildcat holes drilled successful the country successful 1972 by then-operator Draco Mines intersected the high-grade breccia units astatine astir 1000m beneath the surface. The past sets the country nicely for what could perchance beryllium lurking astatine extent underlining Dateline’s mentation that the 2 pipes could articulation astatine immoderate stage.
Colosseum is successful bully institution too, sitting wrong California’s Walker Lane inclination - the big of aggregate important discoveries including Equinox Gold’s 6.5 million-ounce Castle Mountain golden excavation and the 1.7-million-ounce Mother Lode deposit.
Dateline Resources managing manager Stephen Baghdadi said: “As 736,000 ounces retired of the full mineral assets estimation of 1.1 cardinal ounces of golden are measured and indicated, the institution volition present commence mining studies to find what worldly tin beryllium mined successful the astir suitable and economically-viable way.”
The institution is presently considering 3 imaginable options for mining Colosseum. The astir apt is to usage existing infrastructure to little costs successful a bulk excavation script for some breccia pipes by expanding the 2 pits into 1 large pit up of underground mining.
It precocious announced a $4.2 cardinal non-renounceable rights contented to money a mining survey and find the champion improvement options for Colosseum.
Baghdadi is besides intelligibly convinced by the task and volition extremity in, from his ain pocket, $570,000 into the connection successful summation to underwriting a further $177,000 for a full committedness of $747,000. Non-executive president Mark Johnson volition besides instrumentality up his afloat entitlement of successful excess of AU$800,000 by mode of converting outstanding indebtedness to equity successful Dateline.
Johnson is nary slouch erstwhile it comes to concern markets either. He founded Hill Samuel Australia, which grew into Macquarie Bank and helium was past the lawman president of the uber-successful merchant slope up until 2007.
The planetary golden terms remains beardown and immoderate analysts are adjacent proposing a grounds US$3000 (AU$4505) per ounce people by adjacent year. There is besides a schoolhouse of thought retired determination that uncommon earths are conscionable taking a breather and the tide is apt to travel backmost successful again for some uncommon earths and lithium arsenic the planetary electrical conveyance marketplace starts to deed its straps.
For present however, Colosseum is astir golden but the aboriginal informing signs of uncommon earths astatine the task conscionable mightiness correspond a neat spot of aboriginal bluish entity for Dateline.
Those informing signs see rocks surrounding the breccia pipes astatine Colosseum showing remarkably akin geological features to the adjacent Mountain Pass mine, the highest-grade uncommon earths excavation connected the planet. They besides amusement the 2 geological structures were apt formed astatine the aforesaid time.
“Fenites” and “trachytes” are some stone types typically associated with carbonatite complexes that are mostly prevalent astatine immoderate of the large hard stone uncommon earths discoveries astir the world. Both person been mapped astatine Colosseum.
Dateline besides says a high-density borderline outlined by geophysical modelling that lies straight adjacent to the golden affluent breccia pipes astatine Colosseum could beryllium the borderline of a uncommon earths-infused carbonatite assemblage akin to the 1 astatine the Mountain Pass excavation up the road.
The dense units person been identified implicit 2.5km of onslaught and astatine widths of betwixt 75m and 125m.
A “Petrographic” and “cathodoluminescence” investigation besides pointed to similarities with Mountain Pass, providing different utile hint successful the hunt for uncommon earths astatine Colosseum.
Late American banal marketplace subordinate Marty Zweig was erstwhile said to person mused that “the inclination is your person until the extremity erstwhile it bends”. And portion cipher tin foresee a crook successful the golden marketplace close now, if 1 does yet come, Dateline not lone is gathering a superior golden endowment, it whitethorn beryllium good placed to leap onto the electrical conveyance juggernaut arsenic good if its mentation holds existent astir Colosseum besides harbouring uncommon earths checks out. A bully one-two operation for what is still, a sub-AU$20m marketplace headdress company.
Is your ASX-listed institution doing thing interesting? Contact: mattbirney@bullsnbears.com.au
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