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Dateline Resource strikes lucky: discovers near-surface gold


Published 18-APR-2018 11:00 A.M.


2 minute read

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Colorado-based gold explorer, Dateline Resources (ASX:DTR), today revealed its discovery of near-surface visible gold mineralisation at Mineral Hill, which forms part of its Lucky Strike tenements.

This newly exposed vein holds significant potential — initial exploration activities have unveiled geological similarities to the Lucky Strike vein, trending in the same direction.

Encouragingly, this recently discovered structure is potentially over 1.6 kilometres long. If this mineralised vein is connected to Lucky Strike, moreover, it could emerge as another substantial deposit for DTR.

The company is planning a surface sampling and trenching program to evaluate the property for potential drill targets. Near-term exploration will kick off shortly to verify mineralisation and prove site potential.

The Lucky Strike property comprises 32 patented and unpatented claims, spanning 2.7 kilometres of the strike of the Green Mountain goldfield. Within the claims, DTR is re-commissioning the Lucky Strike mill — the only permitted gold mill in the region — with a view to treating ores from its Gold Links mine.

To date, the Lucky Strike and the adjoining Mineral Hill properties have seen no modern exploration initiatives undertaken to verify the continuity of the vein structures. As a base of exploration, DTR has conducted a small amount of excavation at Mineral Hill to begin validating historical data.

Commissioning of Lucky Strike mill is progressing well, with updates expected in the near future. On top of that, DTR’s broader field development strategy is also tracking as planned at the Gold Links mine.

As always, success is not guaranteed, investors should seek professional financial advice if considering this stock for their portfolio.

DTR CEO, Stephen Baghdadi, said: “We’re pleased with the discovery of visible gold at Mineral Hill, as it emphasises the significant opportunities within the region and potentially ties the Mineral Hill site and Lucky Strike veins together across our land holding.“

“This new structure is displaying fantastic hallmarks of a vein that could potentially extend over a mile long, and the historic logistical challenges in testing the depth of mineralisation can easily be overcome with the use of modern technologies.“

“The company is actively progressing next steps to properly test this structure, with an exploration program planned and to commence in the near term. We look forward to updating the market as these developments progress,” Baghdadi continued.

“Further, we are pleased to advise that the broader field development strategy implemented by the company is proceeding as planned. The Lucky Strike Mill commissioning process is well underway and the company expects to be able to update the market on this process as well as mine development activities at Gold Links on the 9900 mineralised zones shortly.”

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DTR tenements cover 2.7km out of an approximate 5km north-west/south-east trending gold system

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