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DTR - Dateline Resources

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Conto Resources Limited (CNO) is an Australian-based exploration company established primarily to acquire, explore, evaluate and exploit gold deposits and explore prospective tenements for other minerals.

The Company has entered into an option and farm-in agreement with Sammy Resources Pty Ltd, a wholly owned subsidiary of Cazaly Resources Limited, to acquire up to an 80% interest in the Cardinia Bore Project.

The Cardinia Bore Project is located approximately 28 km ENE of Leonora in the Goldfields-Esperance region of Western Australia and consists of 9 tenements covering 1,309 hectares. The region has a long history of gold mining and exploration.

The region is prospective for gold mineralization, with several gold anomalies identified in the general area.

http://www.contoresources.com
 

springhill

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Re: CNO - Conto Resources

MC - $2.4m
SP - 8c
Shares - 30m
Options - 4.7m
Cash - $3.8m

Lone Wolf Project
● Prospecting applications granted for Lone Wolf Project● Exploration and field based work program currently being devised to focus on both existing defined mineralisation and additional targets

The Lone Wolf Project is located approximately 15km northeast of Leonora within the Northeastern Goldfields region of Western Australia. The project lies within the Keith-Kilkenny Tectonic Zone and consists of two prospecting licence applications covering a total area of approximately 3.2km2. To the north-east and east of Leonora the zone is approximately 20km wide and is bounded by the Mt George Shear Zone to the west and the Keith-Killkenny Lineament and Pig Well Graben to the east.

Cardinia Bore Project
● Detailed MMI sampling field work program proposed to be conducted over areas proximal to historical workings and recent high grade rock chip sampling

The Cardinia Bore Project is located approximately 28km ENE of Leonora in the Northeastern Goldfields region of Western Australia and consists of 9 tenements covering 1,309 hectares. The region has an extensive history of gold exploration and mining.

Other projects of interest
In addition to the exploration of Conto’s Cardinia Bore and Lone Wolf Projects, the Company intends to pursue new projects in the resources sector, both in Australia and overseas. These projects include but are not limited to; coal, potash, iron ore, copper and gold.

Cash burn for this quarter will be around $150k, with $50k of that on field work and exploration. I don't expect this to be a catalyst for a SP increase.
A potential acquisition may be the way CNO will move SP wise, this quarter. They certainly have the cash to do it.
 

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Re: CNO - Conto Resources

Very undervalued at the moment.

  • Current market cap 5 million (roughly 30 million shares on issue)

  • Cash backing per share is 12.2 cents

  • Competent Management (Mark Johnson AO/Jonathan King)

  • Director recently exercised 250,000 options@20c

  • Acquired Advanced Polymetallic Project with JORC resource in Fiji (Springhill was right with his prediction of an acquisition). Previous Drill Results include...

• GPDDH2: 3.2m @ 7.07% Cu & 16.82% Zn from 2.3m
• GPDDH2: 33.2m @ 1.58% Cu & 5.2% Zn from 20 m
• GPDDH3: 5m @ 15.04% Cu & 11.14% Zn from 17.8m
• MUHPDDH2: 8m @ 1.87% Cu & 4.98% Zn from 42m
• UDH024: 4.6m @ 6.29% Cu & 8.42% Zn from 30.4m
• UDH030: 12m @ 3.04% Cu & 1.68% Zn from 13.9m
• UDH032: 3m @ 3.92% Cu & 8.71% Zn from 121m
• UDH033: 2m @ 5.43% Cu & 11.72% Zn from 83m
• UDH035: 6m @ 1.65% Cu & 22.1% Zn from 40m
• UDH038: 2.6m @ 12.82% Cu & 1.41% Zn from 21.4m
• UDH038: 4m @ 4% Cu & 30.32% Zn from 32m


  • Currently drilling (Results around Christmas/New Year)

Worth looking into. Perhaps. Just wanted to bring it to people's attention since it's kind of fallen by the wayside.
 

springhill

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Re: CNO - Conto Resources

Someone call the fire brigade, today's announcement certainly light a fire under CNO's share price today. Details of announcement below.

SHALLOW HIGH-GRADE INTERCEPTS AT UDU
Shallow high grade polymetallic intercepts encountered from DHEM survey platforms in vicinity of the historical open pit and within the currently estimated Inferred Resource.

Significant high grade shallow Intercepts include:
• UDH051: 15.2m @, 0.72% Cu, 7.52% Zn & 10.8g/t Ag from 34m depth;
 Including 1.2m @ 1.5% Cu, 63.8% Zn & 29.8g/t Ag from 48m to EOH;

• UDH052: 7m @ 2.93% Cu, 14.47% Zn & 23.9g/t Ag from 26m depth;
Including 2m @ 4.5% Cu, 37.2% Zn & 8.5g/t Ag from 28m.


Site preparation has commenced for 3D-IP survey.


To date, a total of four NQ diamond drill holes for 397m of drilling have been completed. Three drill holes intersected shallow polymetallic sulphide mineralisation including a 7m high-grade intersection:
• UDH051: 15.2m @ 0.72% Cu, 7.52% Zn & 10.8g/t Ag from 34m depth;
• UDH052: 7m @ 2.93% Cu, 14.47% Zn & 23.9g/t Ag from 26m depth;
• UDH052: 2m @ 1.1% Cu, 3.25% Zn & 6.5g/t Ag from 48m depth; and
• UDH053: 2m @ 0.43% Cu, 6.96% Zn & 5.5g/t Ag from 31m depth.
 

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On December 23rd, 2013, Conto Resources Limited (CNO) changed its name and ASX code to Dateline Resources Limited (DTR).
 
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