The All Ordinaries Index (ASX: XAO) is up 1.4% today, with plenty of lifting help from this rocketing ASX All Ords gold stock.
The fast-rising stock in question is gold and rare earths explorer Dateline Resources Ltd (ASX: DTR).
Dateline Resources shares closed on Friday trading for 28.5 cents. In early morning trade on Monday, shares are swapping hands for 30.2 cents apiece, up 6%.
On the back of a surging gold price, increasing Western interest in rare earths sources outside of China, and its own exploration successes, this has seen the Dateline Resources share price up 115.7% over the past six months, racing ahead of the 0.3% six-month losses posted by the benchmark index.
Here's what's catching ASX investor interest again today.
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ASX All Ords gold stock leaps on survey progress
Investors are piling into Dateline Resources shares today after the miner announced it has completed infill gravity, magnetic, and radiometric surveys at its 100% owned Colosseum Gold and Rare Earth Project, located in the US state of California.
The ASX All Ords gold stock completed an induced polarisation (IP) survey across Colosseum in December.
Dateline said it designed the latest round of surveys to improve resolution over areas where earlier IP and MT data identified "deep chargeability and conductivity features interpreted to be structurally controlled and potentially associated with gold mineralisation and/or REE-bearing [rare earth element bearing] carbonatite intrusions".
The ASX All Ords gold stock noted that it will integrate the newly acquired geophysical datasets to progressively sharpen drill targeting across the key structural corridors the miner has identified in earlier programs.
The company expects that this work will see it transition from broad-based target definition at the project to highly focused drill testing.
What did management say?
Commenting on the progress lifting the ASX All Ords gold stock today, Dateline managing director Stephen Baghdadi said, "The data continues to support the presence of a large mineral system, with deep structural and sulphide-hosted features interpreted as mineralising plumbing extending beyond the known near surface ore zones."
Baghdadi added:
The integration of these high-quality geophysical datasets is a deliberate step to sharpen drill targeting and maximise the effectiveness of the forthcoming drilling campaign.
With several targets interpreted at depths of approximately 500 to 1,000 metres, this approach ensures that drilling is highly focused, technically informed and capital efficient as the company advances into deeper, more technically demanding drill testing.
Dateline Resources said that diamond core drilling rigs are scheduled to begin arriving at Colosseum next week.
