Up 9,800% in a year, this ASX gold stock just delivered another major drilling surprise

The Dateline Resources Ltd (ASX: DTR) share price is back in the spotlight on Monday. This comes after the company released a fresh drilling update from its flagship Colosseum project in California.

At the time of writing, the junior miner’s shares are up 8.18% to 29.8 cents in early afternoon trade, extending what has already been a remarkable rally.

Zooming out, Dateline shares are now up an astonishing 9,816% over the past 12 months and 32% year to date. This highlights just how sharply investor interest has returned to the stock.

So, what did the company announce, and why is the market reacting again?

Drilling pushes beyond current resource limits

The catalyst for today’s move was Dateline’s announcement of fresh drilling results from its Colosseum Gold-REE Project. These results confirmed wide zones of gold mineralisation extending beyond the current mineral resource boundaries.

The company reported multiple long and shallow intercepts from recent reverse circulation (RC) drilling, including:

• 295.64 metres at 1.04 g/t gold from surface
• 105.15 metres at 1.24 g/t gold from surface
• 300.21 metres at 0.66 g/t gold from surface
• 297.17 metres at 0.68 g/t gold from surface

Several of these results sit outside the existing resource envelope, suggesting there is scope for further resource growth.

Importantly, mineralisation remains open to the northeast, with Dateline highlighting ongoing expansion potential in that direction.

Deeper system still untested

Beyond the latest drilling results, the update also pointed to encouraging geological signals at depth.

RC drilling reached depths of around 300 metres, which is close to the practical limit for this drilling method. However, Dateline confirmed that mineralisation had not closed off at these depths.

Magneto-telluric conductivity data align with the new gold intercepts, reinforcing confidence that the system may extend further.

As a result, the company now plans to shift to diamond drilling to test deeper targets and better define the mineralised system.

Why investors are paying attention

Colosseum is a 100% owned project located in San Bernardino County, California, near the Mountain Pass rare earths mine. Dateline already has a JORC-compliant gold resource at the project, and management has been clear that its strategy is to expand that base.

After a year of explosive share price gains, volatility should be expected. Still, ongoing drilling success and clear exploration momentum explain why buyers continue to step in.

For now, it appears the market is keen to see just how big the Colosseum project could become.

The post Up 9,800% in a year, this ASX gold stock just delivered another major drilling surprise appeared first on The Motley Fool Australia.

More reading

• Could the Zip share price benefit from Trump’s latest proposal?
• Buying ASX 200 shares? Here’s what the latest spending report means for interest rates in 2026
• Building wealth: Here’s why I prefer ASX share buybacks to dividends
• Domino’s shares trading higher as new local Chief Executive announced
• Domino’s Pizza Enterprises appoints new ANZ CEO and boosts executive team

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.