Dateline Resources (ASX:DTR) has completed the acquisition of the Argos Strontium Project in California, walking away with 100% ownership in what has been described as “the largest known strontium deposit” in the United States.
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The buy-up, which cost Dateline eight million shares – $2 million worth – gives the explorer control over a “strategic domestic asset” right at a time when the U.S. government is prioritising supply security for critical minerals. (Dateline has been holding a majority 80% interest in the project since 2023.)
Even better for Dateline, too, its newly controlled Argos deposit is considered unique in the U.S. because it ranks so highly for both scale and purity.
“Argos is a natural fit in our portfolio,” Dateline’s director, Stephen Baghdadi, explained to shareholders. “It’s nearby our Colosseum project and complements our focus on minerals needed for advanced technologies.”
He continued: “We intend to progress Argos in a disciplined manner that adds value without detracting from Colosseum. We look forward to advancing Argos alongside our flagship gold-REE project and delivering on our strategy to supply materials crucial to the nation’s industrial and security needs.”
The Cady Mountains critical minerals project is characterised by a celestite-hosted strontium deposit with minimal barium contamination. Past historical analysis has pointed to strontium sulphate grades of up to 95%.
Argos also stands out as a deposit thanks to its high-purity mineralisation – recently reconfirmed by Dateline’s team – and its near-surface resource.
“With strontium’s importance in electric vehicles, defence ordnance, and even space systems growing, having the only American strontium deposit of note puts Dateline in an enviable position,” Mr Baghdadi declared.
DTR heads into Tuesday morning trade selling at 30.5cps.
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