DPM Metals Inc. press release
Dundee Precious Metals Reports Wide High-Grade Intercepts from the Dumitru Potok Prospect; Results include 190 metres at 2.07% Cu, 1.23 g/t Au and 12.19 g/t Ag
TSX - Toronto Stock Exchange · Gold · Copper · Silver · Arsenic · Sulfur · Zinc · Lead · Antimony · Canada
TORONTO, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) today reported wide intercepts from drilling at the copper-gold-silver Dumitru Potok prospect, located on the Čoka Rakita exploration licence. Based on these strong results, DPM is accelerating its systematic target delineation drilling campaign at Dumitru Potok to further extend these high-grade zones. The Company also reported additional results from Rakita North and early results from the new Valja Saka target, which are located on the Čoka Rakita and Potaj Čuka licences, respectively. All three prospects are located near planned Čoka Rakita project infrastructure.
Highlights (Refer to Tables 1 , 2 and 3 for full results)
New high-grade intercepts, including: DPDD025A – 190 metres 2.07% Cu, 1.23 g/t Au and 12.19 g/t Ag from 808 metres downhole, including 49 metres at 4.18% Cu, 1.48 g/t Au and 21.7 g/t Ag from 842 metres downhole at the Dumitru Potok prospect DPDD026 – 36 metres at 1.8% Cu, 1.4 g/t Au and 11.76 g/t Ag from 953 metres downhole and 115 metres at 1.47% Cu, 2.73 g/t Au and 9.69 g/t Ag from 1,170 metres downhole including 38 metres at 2.59% Cu, 4.05 g/t Au and 17 g/t Ag from 1,195 metres downhole at the Dumitru Potok prospect RADD050 – 40 metres at 0.64% Cu, 0.49 g/t Au and 1.81 g/t Ag from 780 metres downhole and 140 metres at 0.88% Cu, 0.6 g/t Au and 2.94 g/t Ag from 990 metres downhole at the Rakita North prospect RADDHG008 – 30 metres at 0.52% Cu, 0.42 g/t Au and 2.31 g/t Ag from 1,074 metres downhole and 105 metres at 0.69% Cu, 0.51 g/t Au and 2.81 g/t Ag from 1,120 metres downhole at the Rakita North prospect VSDD010 – 8.3 metres at 5.31 g/t Au from 325 metres downhole, and 15 metres at 0.62 % Cu, 0.66 g/t Au and 21.9 g/t Ag from 808 metres downhole, and 20 metres at 0.17 % Cu, 93 g/t Ag, 5.15 % Zn and 1.48 % Pb from 848 metres downhole at Valja Saka prospect
Dumitru Potok prospect: Recent drilling confirms the presence of a large, high-grade copper-gold-silver skarn system with mineralization concentrated along both the eastern and western sides of a causative intrusion. Based on drilling to date, mineralization has been detected over a one-kilometre strike length, up to 300 metres vertically and up to 500 metres away from the causative intrusion. The Dumitru Potok prospect is characterised by long intercepts of continuous high-grade mineralization that currently remains open in multiple directions.
Rakita North prospect: New drill results from the Rakita North prospect confirm presence of significant marble-hosted copper-gold-silver mineralization on the northern flank of the Čoka Rakita deposit. This is best demonstrated by drillhole RADD050, which is proximal to the Čoka Rakita planned underground development (see Figure 3 ). These drill results confirm a relatively higher-grade core of approximatively 300 metres by 150 metres developed over a vertical extent of approximately 300 metres, which remains open in multiple directions.
Valja Saka prospect: Scout exploration drilling encountered strong skarn-altered sediments with garnet and magnetite and occasional visible gold, analogous to the Čoka Rakita style of mineralization. Additionally, drillhole VSDD010 confirmed the potential for polymetallic carbonate replacement mineralization with significant silver, copper, zinc and lead grades.
Preliminary metallurgical tests: Achieved copper rougher recoveries associated with samples from the Dumitru Potok, Rakita North and Frasen prospects of over 90% at a grind size of 75µm. These preliminary results indicate the potential for lower energy consumption and consistent copper concentrate grades. This aligns with the average bond work index figures and indicates promising characteristics for ore processing. Next steps: DPM is pursuing potential skarn and manto-like stratabound targets with a 55,000-metre scout and target delineation drilling campaign, focused on the Čoka Rakita licence, including the Dumitru Potok prospect, as well as the Potaj Čuka and Pešter Jug licences. Based on these positive results, dedicated target delineation drilling will be allocated to high priority targets with up to 15 rigs expected to be deployed by early spring.
“These impressive results at Dumitru Potok clearly demonstrate the existence of a large copper-gold deposit that has the potential to provide additional high-grade mineral resources adjacent to the planned infrastructure of Čoka Rakita. The drill program continues to expand the Dumitru Potok discovery, and we have yet to define its limits as it remains open in multiple directions and at depth,” said David Rae, President and Chief Executive Officer of Dundee Precious Metals.
“Our exploration team and strong financial position has continued to add value through the drill bit, supported by our strategy to create a robust platform for growth to deliver above-average returns for our shareholders.”
Scout Drilling Program Overview
The Company has continued to progress its scout drilling program, completing over 18,000 metres and 23 drill holes since the previous update on September 11, 2024 , with nine drill holes in progress.
See Figures 1 , 2 and 3 for plan, section and 3D views highlighting recent drilling at the Dumitru Potok, Rakita North and Valja Saka prospects.
At the Dumitru Potok prospect, located approximately one kilometre northeast of Čoka Rakita, a directional target delineation drilling program is ongoing with multiple daughter holes outlining a sub-vertical monzodiorite intrusive body, with proximal high-grade stratabound copper-gold-silver mineralization on the conglomerate-marble unconformity and along the marble-intrusive contact zone.
Based on the drilling to date, stratabound conglomerate-marble unconformity hosted mineralization extends outward from the eastern and western margins of the causative intrusion. Mineralization can be traced for more than one kilometre of strike length and up to 500 hundred metres away from the causative intrusion and varies in thickness from five metres to up to 40 metres. Mineralization on the marble-intrusive contact zone is developed for more than 300 metres vertically, either as contact skarns or as stratabound lenses within reactive marbles, including on the lower marble-basement contact. The mineralization is open in all directions and its full footprint and grade continuity have yet to be defined.
On the east flank of the Dumitru Potok intrusive, DPDD025A was collared to test below holes DPDD012 and DPDD012A, and encountered a wide zone of strong skarn alteration and mineralization developed on marbles and returned an intercept of 190 metres at 2.07% Cu, 1.23 g/t Au and 12.19 g/t Ag, which includes a higher grade zone of 49 metres at 4.18% Cu, 1.48 g/t Au and 21.7 g/t Ag.
See Figure 4 for details of the mineral assemblage in DPDD025A.
On the west flank of Dumitru Potok intrusive, drill hole DPDD026 confirmed the extension of strong mineralization to the south on the upper marble contact, returning 36 metres at 1.8% Cu, 1.4 g/t Au and 11.76 g/t Ag from 953 metres downhole. The extension of the hole aimed to test the potential of the lower marble-basement contact target and successfully intercepted a wide zone of strong skarn alteration and mineralization of 115 metres at 1.47% Cu, 2.73 g/t Au and 9.69 g/t Ag from 1,170 metres downhole, including 38 metres at 2.59% Cu, 4.05 g/t Au and 17 g/t Ag from 1,195 metres.
These new intercepts confirm the potential for more than 300 metres of vertical extension in proximity to the causative intrusion when viewed in conjunction with other drillholes.
See Figure 5 for details of the mineral assemblage in DPDD026.
Table 1 . Drill holes results from the scout drilling campaign testing stratabound and marble-intrusive contact hosted targets at Dumitru Potok.
| HOLEID | EAST | NORTH | RL | AZ | DIP | FROM | TO | LENGTH | CuEq | Cu | Au | Ag | | (m) | (m) | (m) | (%) | (%) | (g/t) | (g/t) | | | | | | | | DPDD015A | 573499 | 4896700 | 124 | 238 | -49 | completed / awaiting results | | | | | | | | DPDD019 | 573268 | 4897247 | 697 | 213 | -82 | no significant intervals | | | | | | | | DPDD019C | 573239 | 4897198 | 258 | 216 | -84 | no significant intervals | | | | | | | | DPDD020* | 573262 | 4897014 | 722 | 241 | -55 | 508 | 513 | 5 | 0.84 | 0.75 | 0.11 | 0.28 | | DPDD021 | 573115 | 4897637 | 680 | 240 | -65 | condemnation hole / no significant intervals | | | | | | | | DPDD022 | 572687 | 4896993 | 775 | 64 | -81 | aborted for technical reasons / no significant intervals | | | | | | | | DPDD023 | 573665 | 4897081 | 698 | 250 | -71 | 1122 | 1161 | 39 | 1.03 | 0.58 | 0.56 | 4.07 | | DPDD023A | 573562 | 4897055 | 152 | 229 | -80 | completed / awaiting results | | | | | | | | DPDD024 | 573267 | 4897528 | 669 | 50 | -55 | 54 | 60 | 6 | 0.89 | 0.43 | 0.62 | 0.77 | | DPDD025 | 573700 | 4897659 | 726 | 229 | -67 | completed / awaiting results | | | | | | | | DPDD025A | 573537 | 4897525 | 219 | 220 | -65 | 808 | 998 | 190 | 3.09 | 2.07 | 1.23 | 12.19 | | including | | | | | | 826 | 834 | 8 | 5.77 | 1.95 | 4.96 | 17.00 | | including | | | | | | 842 | 891 | 49 | 5.47 | 4.18 | 1.48 | 21.70 | | including | | | | | | 911 | 924 | 13 | 3.45 | 1.95 | 1.80 | 18.40 | | including | | | | | | 935 | 977 | 42 | 3.16 | 2.06 | 1.35 | 12.20 | | DPDD025B | 573544 | 4897533 | 243 | 233 | -67 | in progress | | | | | | | | DPDD026 | 573268 | 4897012 | 713 | 279 | -69 | 953 | 989 | 36 | 2.94 | 1.80 | 1.40 | 11.76 | | including | | | | | | 961 | 984 | 23 | 3.79 | 2.34 | 1.77 | 15.50 | | and | | | | | | 1142 | 1148 | 6 | 1.00 | 0.64 | 0.44 | 4.60 | | and | | | | | | 1170 | 1285 | 115 | 3.57 | 1.47 | 2.73 | 9.69 | | including | | | | | | 1195 | 1233 | 38 | 5.74 | 2.59 | 4.05 | 17.00 | | including | | | | | | 1259 | 1267 | 8 | 4.74 | 2.51 | 2.84 | 14.40 | | DPDD026A | 573082 | 4897041 | 204 | 278 | -71 | in progress | | | | | | | | DPDD027 | 573118 | 4897637 | 680 | 50 | -55 | condemnation hole / no significant intervals | | | | | | | | DPDD028 | 572983 | 4897760 | 699 | 238 | -70 | 752 | 788 | 36 | 1.43 | 1.13 | 0.29 | 8.57 | | DPDD029 | 573267 | 4897527 | 670 | 96 | -50 | condemnation hole / awaiting results | | | | | | | | DPDD030 | 573859 | 4896932 | 649 | 179 | -48 | condemnation hole / no significant intervals | | | | | | | | DPDDHG001 | 572904 | 4897220 | 746 | 150 | -89 | 887 | 922 | 35 | 1.67 | 1.02 | 0.79 | 7.61 | | including | | | | | | 888 | 893 | 5 | 3.62 | 1.85 | 2.24 | 13.1 | | and | | | | | | 1024 | 1035 | 11 | 0.8 | 0.61 | 0.18 | 5.64 |
| 1) | | Coordinates are in UTM Zone 34 North WGS84 datum. | | 2) | | Intervals are reported at a cut-off grade of 0.8% CuEq using 5 metres minimum length and 10 metres maximum internal dilution. Higher grade sub-intervals denoted with ‘including’ are reported at a cut-off grade of 3% CuEq using 5 metres minimum length and 5 metres maximum internal dilution. | | 3) | | The CuEq calculation is based on the following formula: Cu % + Au g/t x 0.74 + Ag g/t x 0.009 based on a copper price of $2.75/lb, gold price of $1,400/oz and silver price of $17/oz; and assumes metallurgical recoveries of 90% all metals within the equivalency calculation. Metallurgical assumptions are based on initial floatation testwork completed on the stratabound hosted Cu-Au-Ag mineralization at Čoka Rakita North and ongoing metallurgical testing. | | 4) | | No upper cuts have been applied. | | 5) | | Based on the limited understanding of the geometry of the mineralized body, true widths are considered to be 90% or more of the reported downhole interval, assuming strata-bound control on the mineralization. For holes DPDD026 and DPDD025A due of potential vertical extent of the mineralization along the contact, the true width cannot be evaluated at this time. | | 6) | | Daughter holes identified with “A” (e.g., DPDD025A) are navigational holes with collar coordinates and depth indicating the exit point from the parent hole. | | | | |
Based on these strong results, DPM is accelerating the systematic target delineation drilling campaign at Dumitru Potok to further extend these high-grade zones and build additional confidence on the shape, size and grade tenor of the encountered mineralization.
At the Rakita North target, located on the northwestern flank of the Čoka Rakita deposit and proximal to planned underground development, two deep holes have been completed that intercepted significant copper-gold mineralization over most of the 300-metre thickness of the marbles. Mineralization is a combination of manto-like skarn mineralization on the upper and lower contact, as well as more discrete replacement and stockwork veins over the entire marble lithological package.
These results include hole RADDHG008, which reported 30 metres at 0.52% Cu, 0.42 g/t Au and 2.31 g/t Ag from 1,074 metres downhole and 105 metres at 0.69% Cu, 0.51 g/t Au and 2.81 g/t Ag from 1,120 metres downhole. Additional results include hole RADD050, which returned 40 metres at 0.64% Cu, 0.49 g/t Au and 1.81 g/t Ag from 780 metres downhole and 140 metres at 0.88% Cu, 0.6 g/t Au and 2.94 g/t Ag from 990 metres downhole. These drill intercepts are approximately 500 metres below the Čoka Rakita planned underground infrastructure (see Figure 3 ).
These new drill intercepts show significant copper-gold mineralization developed over an up to 300-metre vertical section, by more than 300 metres by 150 metres laterally, and remains open in multiple directions. Further drilling is ongoing, including daughter holes to follow-up hole RADD050 as well as additional scout holes from surface aimed to test continuity towards Dumitru Potok and the larger potential extensions to east and southeast.
Table 2. Drill holes results from the scout drilling campaign testing the copper-gold-silver marble hosted targets at Rakita North.
| HOLEID | EAST | NORTH | RL | AZ | DIP | FROM | TO | LENGTH | CuEq | Cu | Au | Ag | | (m) | (m) | (m) | (%) | (%) | (g/t) | (g/t) | | | | | | | | RADD046* | 572948 | 4896594 | 791 | 210 | -67 | 1007 | 1068 | 61 | 0.84 | 0.55 | 0.36 | 2.58 | | RADD050 | 572970 | 4896087 | 903 | 313 | -82 | 780 | 820 | 40 | 1.02 | 0.64 | 0.49 | 1.81 | | and | | | | | | 990 | 1130 | 140 | 1.34 | 0.88 | 0.60 | 2.94 | | RADDHG008 | 572992 | 4896006 | 917 | 275 | -85 | 863 | 869 | 6 | 1.52 | 0.91 | 0.78 | 3.65 | | and | | | | | | 944 | 958 | 14 | 0.95 | 0.47 | 0.58 | 4.92 | | and | | | | | | 962 | 990 | 28 | 0.80 | 0.48 | 0.41 | 1.94 | | and | | | | | | 1002 | 1007 | 5 | 0.92 | 0.58 | 0.44 | 1.99 | | and | | | | | | 1018 | 1026 | 8 | 0.82 | 0.54 | 0.35 | 2.29 | | and | | | | | | 1074 | 1104 | 30 | 0.85 | 0.52 | 0.42 | 2.31 | | and | | | | | | 1120 | 1225 | 105 | 1.10 | 0.69 | 0.51 | 2.81 |
| 1) | | Coordinates are in UTM Zone 34 North WGS84 datum. | | 2) | | Intervals are reported at a cut-off grade of 0.8% CuEq using 5 metres minimum length and 10 metres maximum internal dilution. Higher grade sub-intervals denoted with ‘including’ are reported at a cut-off grade of 3% CuEq using 5 metres minimum length and 5 metres maximum internal dilution. | | 3) | | The CuEq calculation is based on the following formula: Cu % + Au g/t x 0.74 + Ag g/t x 0.009 based on a copper price of $2.75/lb, gold price of $1,400/oz and silver price of $17/oz; and assumes metallurgical recoveries of 90% all metals within the equivalency calculation. Metallurgical assumptions are based on initial floatation testwork completed on the stratabound hosted Cu-Au-Ag mineralization at Čoka Rakita North and ongoing metallurgical testing. | | 4) | | No upper cuts have been applied. | | 5) | | Based on the limited understanding of the geometry of the mineralized body true widths cannot be calculated at this time. | | 6) | | RADD046* was re-reported due of additional silver assays (ICP) being received. | | | | |
Scout exploration drilling commenced at the Valja Saka prospect, which is located approximately two kilometres north of Čoka Rakita, targeting shallow skarn-altered marble and sandstone-hosted gold-silver-base metals mineralization, previously mapped in the area. Several holes from the program encountered strong skarn-altered sediments with garnet and magnetite and occasionally with visible gold, analogous to the Čoka Rakita style of mineralization.
Of note is VSDD010 drillhole which was collared as a long scout hole to follow-up on a magneto-telluric (“MT”) conductivity anomaly. This hole intersected a zone of skarn alteration with visible gold that returned 8.3 metres at 5.31 g/t Au from 325 metres downhole. The hole continued into a weakly mineralized copper-gold porphyry, which then passed into a zone of polymetallic, carbonate replacement mineralization that returned 15 metres at 0.62 % Cu, 0.66 g/t Au and 21.9 g/t Ag from 808 metres downhole, and 20 metres at 0.17 % Cu, 93 g/t Ag, 5.15 % Zn and 1.48 % Pb from 848 metres downhole.
The shallow gold skarn target was followed up by VSDD011 that reported a narrow interval with coarse visible gold of 4.6 metres at 43.95 g/t Au and 0.15% Cu from 302.4 metres downhole and by VSDD012 that reports 9 metres at 2.69 g/t Au and 0.14 % Cu from 237 metres downhole.
Table 3 . Drill holes results from the scout drilling campaign at Valja Saka skarn gold target.
| HOLEID | EAST | NORTH | RL | AZ | DIP | FROM | TO | LENGTH | AuEq | Au | Cu | Ag | Pb | Zn | | (m) | (m) | (m) | (g/t) | (g/t) | (%) | (g/t) | (%) | (%) | | | | | | | | VSDD010 | 572343 | 4898290 | 713 | 241 | -60 | 325 | 333.3 | 8.3 | 5.45 | 5.31 | 0.09 | 0.30 | - | - | | and | | | | | | 349 | 367 | 18 | 1.02 | 0.63 | 0.28 | 0.80 | - | - | | and | | | | | | 808 | 823 | 15 | 2.16 | 0.66 | 0.62 | 21.90 | 0.04 | 0.63 | | and | | | | | | 848 | 868 | 20 | 5.14 | 0.08 | 0.17 | 93.00 | 1.48 | 5.15 | | including | | | | | | 849 | 864 | 15 | 5.91 | 0.09 | 0.18 | 109.10 | 1.85 | 5.83 | | VSDD011 | 572345 | 4898290 | 713 | 222 | -51 | 302.4 | 307 | 4.6 | 44.15 | 43.95 | 0.15 | - | - | - | | VSDD012 | 572178 | 4898313 | 703 | 235 | -50 | 237 | 246 | 9 | 2.92 | 2.69 | 0.14 | 2.90 | - | - | | | | | | | | 598 | 613 | 15 | 1.35 | 0.06 | 0.21 | 53.00 | 0.63 | 0.20 | | VSDD013 | 572343 | 4898294 | 713 | 266 | -62 | completed / awaiting results | | | | | | | | |
| 1) | | Coordinates are in UTM Zone 34 North WGS84 datum. | | 2) | | Intervals are reported at a cut-off grade of 1g/t AuEq using 5 metres minimum length and 5 metres maximum internal dilution. Higher grade sub-intervals denoted with ‘including’ are reported at a cut-off grade of 5 g/t AuEq using 5 metres minimum length and 5 metres maximum internal dilution. | | 3) | | The AuEq calculation is based on the following formula: Au g/t + Cu % x 1.35 + Ag g/t x 0.012 + Pb % x 0.39 + Zn % x 0.61 based on a copper price of $2.75/lb, gold price of $1,400/oz, silver price of $17/oz, lead prices of $0.8/lb and zinc price of 1.25$/lb; and assumes metallurgical recoveries of 90% all metals within the equivalency calculation. Metallurgical assumptions are based on testing of other polymetallic showings within the license area. | | 4) | | No upper cuts have been applied. | | 5) | | Based on the limited understanding of the geometry of the mineralized body, true widths cannot be calculated at this time. | | | | |
The mineralization remains open in multiple directions and will be tested as part of DPM’s upcoming 55,000-metre drilling campaign.
See Figure 3 for a better understanding of the spatial disposition of different targets.
Preliminary Metallurgical Testwork Results
Metallurgical testing is ongoing, with five representative 30 kilogram composite samples from the Frasen, Dumitru Potok and Rakita North discoveries. Refer to Table 4 for key parameters of the composites. Testing is being undertaken at the Wardel Armstrong International laboratory in the United Kingdom.
Table 4. Description, bond work index and head assay values from composite samples taken from of copper-gold-silver mineralization at Dumitru Potok, Frasen and Rakita North.
| Sample ID | Prospect | Geological Description | BWi (KWhr/t) | Head Assay (%, *ppm) | | | | | | | Cu | Zn | Fe | Au* | Ag* | S (TOT) | | | | | | BI1 | Frasen | Carbonate replacement in marble, (semi) massive pyrite-chalcopyrite-sphalerite-galena mineralization | 10.27 | 2.03 | 5.14 | 24.84 | 2.43 | 92.05 | 21.80 | | DP1 | Dumitru Potok East | Magnetite-calcite-chlorite skarn, chalcopyrite-bornite mineralization | 11.30 | 3.58 | - | 20.82 | 2.78 | 22.58 | 3.63 | | DP2 | Dumitru Potok East | Patchy hematite-iron-oxide-hydroxide-garnet altered skarn, chalcopyrite-bornite mineralization | 12.44 | 1.17 | - | 7.82 | 1.36 | 5.57 | 1.17 | | DP3 | Dumitru Potok West | Hematite-garnet, silica, locally magnetite altered skarn, bornite-covellite-digenite-native Cu mineralization | 13.27 | 2.77 | - | 8.23 | 1.65 | 18.90 | 1.16 | | RA1 | Rakita North | Hematite-garnet-silica altered marbles with pyrite-chalcopyrite-bornite mineralization | 12.70 | 1.18 | - | 13.16 | 0.95 | 6.21 | 1.65 |