Dundee Precious Metals Reports High-Grade Copper-Gold Discoveries within One Kilometre of the Čoka Rakita Project; Results include 63 metres at 1.74% Cu, 2.18 g/t Au and 9.04 g/t Ag
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TORONTO, Sept. 11, 2024 (GLOBE NEWSWIRE) — Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) reported results from drilling at the high-grade copper-gold Dumitru Potok and Frasen prospects, located approximately one kilometre north of the Čoka Rakita project.
Highlights (Refer to Tables 1, 2 and 3 for full results)
High-grade scout drilling results from Dumitru Potok and Frasen include:
DPDD018A – 63 metres at 1.74% Cu, 2.18 g/t Au and 9.04 g/t Ag, including 15 metres at 3.38% Cu, 4.00 g/t Au and 14.7 g/t Ag
DPDD019B – 70 metres at 1.26% Cu, 1.21 g/t Au and 6.89 g/t Ag, including 15 metres at 2.70% Cu, 2.65 g/t Au and 20.10 g/t Ag
BIDD233 – 44 metres at 1.03% Cu, 0.85 g/t Au and 6.08 g/t Ag
BIDD236A – 21 metres at 1.77% Cu, 1.2 g/t Au and 43.47 g/t Ag
BIDD229 – 17 metres at 1.39% Cu, 1.35 g/t Au and 6.68 g/t Ag, including 9.2 metres at 2.04% Cu, 1.45 g/t Au and 9.6 g/t Ag
Dumitru Potok prospect: Results confirm the presence of high-grade copper-gold-silver stratabound skarn mineralization, with drilling demonstrating a continuous zone of strong mineralization along a 250-metre corridor open to the north, south and east.
Frasen prospect: Drilling returned manto-like carbonate-hosted replacement and skarn copper-gold mineralization at the conglomerate-marble contact over an area of 700 metres by 500 metres at Frasen West, with potential to extend this zone southeast towards the stratabound skarn copper-gold mineralization intersected by the deep drilling at Čoka Rakita North.
Regional potential: These drilling results confirm large-scale potential for stratabound skarn copper-gold-silver mineralization and additional potential for high-grade sandstone-hosted skarn mineralization. An improved conceptual targeting model that implies a large-scale hybrid porphyry–iron oxide copper-gold (IOCG) system has been developed to help prioritize ongoing drilling.
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Next steps: Continued drilling program to pursue additional potential skarn and manto-like stratabound targets through scout and target delineation drilling campaigns on the Čoka Rakita, Potaj Čuka and Pešter Jug licences.
“Located approximately one kilometre from our Čoka Rakita project, we are excited by the exploration potential of the high-grade copper-gold Dumitru Potok and Frasen discoveries,” said David Rae, President and Chief Executive Officer of Dundee Precious Metals.
“These new results highlight the high-grade nature of what we are seeing from our exploration activities and confirm the large-scale potential for further high-grade copper-gold mineralization at Čoka Rakita and the surrounding licences.”
Dumitru Potok and Frasen Drilling Program Overview
The Company has continued to progress its scout drilling program, completing over 22,000 metres and 28 drill holes since the previous update on February 26, 2024, with seven drill holes in progress.
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These new scout drilling results allow for a better understanding of the wider geological setting and illustrate the large-scale of the mineralizing system on the licence package. The high-grade copper-gold mineralization encountered is found as stratabound mineralized zones developed within reactive sedimentary units which occur in proximity to fertile diorite porphyries that also exhibit weak to moderate copper-gold mineralization. The Company’s exploration teams have observed features that are characteristic of a transition between porphyry copper-gold-molybdenum mineralization and IOCG mineral systems that would imply camp scale potential for stratabound skarn mineralization when evaluating these traits against the current geological architecture.
Observed characteristics include:
Alkalic-hybrid fertile intrusions associated with large-scale early sodic-potassic alteration footprints;
Consistent presence of mineralization associated to potassic and skarn alteration within more reactive lithological host units, that include marls, sandstones, conglomerates and marbles.
Association of copper and gold with highly elevated iron in the form of abundant iron-oxides and iron-rich silicates; and
Zoned and overprinted pyrite – chalcopyrite – bornite – chalcocite – digenite – native copper hypogene mineral paragenesis, associated to increasing Cu/Fe, Au/Cu and decreasing S toward depths and proximal to magmatic feeders.
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See Figures 1 and 2 for plan and section views highlighting recent drilling at the Dumitru Potok and Frasen prospects.
At the Dumitru Potok prospect, located approximately one kilometre northeast of Čoka Rakita, a directional drilling program with multiple daughter holes outlined a subvertical fertile monzodiorite intrusive body, with proximal high-grade stratabound copper-gold-silver mineralization within the conglomerate-marble contact zone. Mineralization is found at both the eastern and western sides of the intrusion.
On the eastern flank of the outlined monzodiorite intrusion, follow-up daughter drill holes DPDD012A, DPDD19A and DPDD19B intersected consistent high-grade copper-gold stratabound mineralization along a 250-metres corridor, which is open to the north, south and east. A significant intercept demonstrating the width and grade tenor is drillhole DPDD019B, which returned:
70 metres at 1.26% Cu, 1.21 g/t Au and 6.89 g/t Ag from 372 metres downhole depth, including 15 metres at 2.7% Cu, 2.65 g/t Au and 20.1 g/t Ag; and
45 metres at 0.72% Cu, 0.96 g/t Au and 3.13 g/t Ag from 473 metres downhole depth.
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On the western flank of the same monzodiorite body, the daughter holes DPDD014B and DPDD018A as well as scout holes BIDD226, DPDD017, and DPDD020 drill holes intersected high-grade stratabound copper-gold mineralization along a 1,000-metre north-northwest trending corridor. Of note was the intercept on the western flank, encountered by the daughter hole DPDD018A, which returned:
63 metres at 1.74% Cu, 2.18 g/t Au and 9.04 g/t Ag from 639 metres downhole depth, including 15 metres at 3.38% Cu, 4 g/t Au and 14.7 g/t Ag.
See Figure 3 for details of the mineral assemblage in DPDD018A. For complete list of assay results from the Dumitru Potok prospect, see Table 1.
Considering these results, DPM has commenced a systematic target delineation drilling campaign at Dumitru Potok aimed to further extend these high-grade zones and build additional confidence on the shape, size and grade tenor of the encountered mineralization.
At the Frasen prospect, located approximately one kilometre north-west of Čoka Rakita, systematic drilling has confirmed manto-like carbonate-hosted replacement and skarn mineralization at the conglomerate-marble contact over an area of 700 metres by 500 metres. Drilling aimed to test for mineralization up-stratigraphy and westward from the Frasen-porphyry that was previously intersected in drillhole BIDD224 and is considered as the causative intrusion for high-grade manto-like copper-gold replacement mineralization.
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Significant intercepts have been returned from several new holes completed at Frasen and are listed in Table 2. Of particular interest is the BIDD236A daughter drill hole from the northern, shallower part of the target which returned:
21 metres at 1.77% Cu, 1.2 g/t Au and 43.47 g/t Ag from 112 metres downhole depth.
Another significant zone was intersected by drillhole BIDD229, which returned a high grade intercept:
17 metres at 1.39% Cu, 1.35 g/t Au and 6.68 g/t Ag from 700 metres downhole depth, including 9.2 metres at 2.04% Cu, 1.45 g/t Au and 9.6 g/t Ag.
At the southern flank of the prospect, hole BIDD233 returned:
44 metres at 1.03% Cu, 0.85 g/t Au and 6.08 g/t Ag from 708 metres downhole depth at the conglomerate and marble contact zone.
These new drill intercepts open up the potential to extend this high-grade manto-like zone to the southeast to the carbonate-hosted copper-gold replacement mineralization, previously intersected by the deep drilling at Čoka Rakita North (RIDD001, RIDD002, RIDD008, RIDD009, RADD043 and RADD044, see Table 3 for complete results).
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Hole RADD046 from the Čoka Rakita North prospect, returned multiple intervals of moderate copper-gold grades, including:
13 metres at 0.59% Cu, 0.62 g/t Au and 3.18 g/t Ag from 938 metres downhole depth, and 28 metres at 0.54% Cu, 0.36 g/t Au and 2.4 g/t Ag from 1,007 metres downhole depth.
Further to this, scout drilling on the southern flank of the Čoka Rakita deposit returned a series of promising intercepts from drill hole RADD047, that includes:
15 metres at 0.93% Cu, 0.45 g/t Au and 2.50 g/t Ag from 632 metres downhole depth, hosted by a brecciated and skarn altered monzonite-conglomerate contact zone.
The interpretation of these results suggest that high-grade stratabound copper-gold skarn mineralization extends below Čoka Rakita and is open to south. Further drilling is planned to follow-up on these results, as well as to test the larger footprint of coincident surface geochemical anomaly and to test the target skarn stratigraphy, which is still open to the south and southwest from Čoka Rakita. Additionally, several scout holes are planned to test the same stratigraphy and coincident geology, about two kilometres to the south.
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For a complete list of results from the Frasen prospect, see Table 2.
Significant 2024 Exploration Program Ongoing
For the rest of 2024, DPM’s exploration program includes approximatively 35,000 metres of drilling to follow-up on positive results and to continue testing the enhanced targeting models. A portion of this drilling will be dedicated to the Dumitru Potok and Frasen prospects, which will aim to define the stratabound-hosted mineralization, which is open in multiple directions, and to better understand the variability of the mineralization along strike and away from the causative intrusions. Exploratory testwork will be initiated to determine the metallurgical characteristics of the key copper-gold-silver mineralization styles.
Furthermore, the Company aims to follow-up on the newly completed magneto-telluric (MT) survey, which highlighted several significant conductivity targets on the Potaj Čuka exploration licence, extending for several kilometres along strike north of Dumitru Potok, which share the same characteristics and geological setting as the Dumitru Potok and Frasen prospects due to their prospective stratabound and porphyry style mineralization.
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The Company has budgeted between $20 million and $22 million for exploration activities in Serbia in 2024, with $9.5 million spent in the first six months of the year.
Figure 1. Project scale map highlighting the updated targets and results from the ongoing scout drilling program.
Figure 2. Cross section looking north at the Frasen and Dumitru Potok targets, located approximately one kilometre north of the Čoka Rakita deposit, showing scout drilling, the conceptual geology model and interpretation of target mineralization styles.
Figure 3. Images showing the core photos of copper-gold manto skarn mineralization from hole DPDD018A, taken from within the interval reporting 15 metres at 3.38% Cu, 4 g/t Au and 14.7 g/t Ag from 643 metres downhole (1,108 m total depth from surface).
a)
Half-NQ size core boxes from DPDD018A starting at 640.8 metres downhole and ending at 648.7 metres downhole, displaying copper and gold assay values for each metre.
b)
Macro images of NQ size half-core from the same intervals displaying textural variability, from garnet – hematite dominated skarn with chalcopyrite cement on upper right, semi-massive digenite and quartz-carbonate hydrothermal replacement in center right and late limonite-hematite-native copper mineralization on lower right. Abbreviations: Cpy – chalcopyrite; Bo – bornite; Cov – covellite; Dig – digenite; Hem – hematite; Lim – limonite; Q – quartz; Gn – garnet.
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Table 1: Reported drill intercepts from the scout drilling campaign at Dumitru Potok:
HOLEID
EAST
NORTH
RL
AZ
DIP
FROM
TO
LENGTH
CuEq
Cu
Au
Ag
(m)
(m)
(m)
(%)
(%)
(g/t)
(g/t)
DPDD012*
572990
4896008
917
238
-50
1155
1181
26
5.92
3.54
3.03
15.30
and
1214
1244
30
2.26
1.36
1.11
9.80
including
1218
1223
5
4.95
3.16
2.15
22.20
DPDD012A
573476
4897208
48
238
-53
354
385
31
2.42
1.45
1.19
10.00
including
369
384
15
4.26
2.57
2.05
17.90
and
391
399.2
8.2
3.80
2.03
2.17
18.90
DPDD013
573265
4897529
669
235
-50
aborted for technical reasons / no significant intervals
DPDD013A*
573040
4897370
337
235
-52
84
93
9
1.07
0.64
0.55
1.80
DPDD014
573311
4897351
687
242
-51
aborted for technical reasons / no significant intervals
DPDD014B
572965
4897130
124
238
-58
356
390
34
1.52
1.15
0.43
5.80
including
380
387.4
7.4
3.64
2.94
0.78
13.70
DPDD015
573860
4896934
649
240
-49
aborted for technical reasons / no significant intervals
DPDD015A
573499
4896700
124
238
-49
in progress
DPDD016
573695
4897658
726
231
-50
no significant intervals
DPDD017
573307
4896780
711
232
-61
402
408
6
5.73
4.65
1.38
6.40
and
1034
1044.3
10.3
1.07
0.78
0.34
4.60
and
1106
1143.7
37.7
1.02
0.73
0.37
1.40
DPDD018
573267
4897528
669
224
-71
154
162
8
2.60
1.17
1.90
2.13
DPDD018A
573180
4897417
227
218
-72
639
702
63
3.43
1.74
2.18
9.04
including
643
658
15
6.47
3.38
4.00
14.70
including
677
701
24
3.54
1.84
2.16
10.50
DPDD019
573268
4897247
697
213
-82
completed / awaiting results
DPDD019A
573237
4897198
248
222
-83
390
428.8
38.8
2.23
1.22
1.25
9.10
including
400
421
21
3.05
1.67
1.71
12.70
and
501.8
509
7.2
0.84
0.32
0.68
2.40
DPDD019B
573235
4897196
210
163
-88
372
442
70
2.22
1.26
1.21
6.89
including
401
416
15
4.84
2.70
2.65
20.1
and
473
518
45
1.46
0.72
0.96
3.13
DPDD019C
573239
4897198
258
216
-84
completed / awaiting results
DPDD020
573262
4897014
722
241
-55
587
592
5
1.17
0.76
0.52
2.80
and
649
661
12
1.59
1.02
0.73
3.30
and
948
981
33
1.07
0.66
0.51
3.00
and
998
1013
15
0.85
0.35
0.66
1.20
and
1026
1031
5
1.45
1.07
0.47
3.90
and
1100
1106
6
0.94
0.54
0.54
0.60
DPDD021
573115
4897637
680
240
-65
in progress
DPDD022
572687
4896993
775
64
-81
in progress
DPDD023
573665
4897081
698
250
-71
in progress
DPDD024
573267
4897528
669
50
-55
completed / awaiting results
DPDD025
573695
4897658
726
229
-67
in progress
DPDDHG001
572956
4897237
740
150
-89
in progress
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Table 2: Reported drill intercepts from the scout drilling campaign at Frasen:
HOLEID
EAST
NORTH
RL
AZ
DIP
FROM
TO
LENGTH
CuEq
Cu
Au
Ag
(m)
(m)
(m)
(%)
(%)
(g/t)
(g/t)
BIDD052*
572051
4897096
942
241
-70
348
356
8
3.48
1.68
2.33
8.92
BIDD054*
572351
4896882
906
281
-70
188
212
24
0.94
0.14
1.07
0.48
BIDD173*
572421
4897199
870
242
-64
664
689
25
0.99
0.65
0.43
2.00
BIDD178*
571972
4897190
926
235
-55
237
259
22
2.02
0.61
1.83
6.86
including
242
251
9
3.47
1.01
3.25
6.30
BIDD221*
572228
4897176
922
242
-60
486
491
5
2.00
1.45
0.64
8.37
BIDD222*
572417
4897031
891
249
-60
706
714
8
3.35
2.36
1.26
7.00
BIDD223*
572692
4896998
775
256
-60
628
638
10
0.92
0.66
0.20
13.20
and
657
679
22
1.71
1.00
0.92
3.70
including
663
669
6
3.20
2.02
1.49
7.80
BIDD224*
572691
4896996
775
239
-74
327
372
45
0.86
0.26
0.80
1.10
and
394
406
12
0.81
0.20
0.81
0.90
and
792
800
8
0.81
0.50
0.40
1.70
BIDD225
572527
4897425
816
260
-70
656
666
10
0.81
0.15
0.87
2.40
BIDD226
572727
4897373
772
253
-71
144
152
8
2.51
1.90
0.78
3.60
including
145
151
6
3.02
2.27
0.96
3.90
and
611
645
34
1.59
1.07
0.67
3.70
BIDD227
572727
4897371
772
236
-59
no significant intervals
BIDD227A
572610
4897296
537
242
-58
435
442
7
1.02
0.67
0.42
4.27
BIDD228
572087
4897025
945
241
-60
no significant intervals
BIDD229
572504
4896835
861
266
-62
700
717
17
2.45
1.39
1.35
6.68
including
706.8
716
9.2
3.2
2.04
1.45
9.6
and
901
915
14
1.24
0.76
0.60
4.51
BIDD230
572085
4897262
930
242
-67
329
344
15
1.19
0.81
0.50
1.27
and
369
382
13
0.86
0.6
0.27
6.82
BIDD231
572163
4897242
930
241
-55
no significant intervals
BIDD232
572085
4897261
930
241
-50
323
336
13
1.93
0.46
1.81
14.55
BIDD233
572503
4896835
861
242
-55
708
752
44
1.71
1.03
0.85
6.08
BIDD234
572194
4897315
921
248
-59
229
236
7
1.91
0.09
2.46
0.72
BIDD235
572062
4897149
940
240
-55
281
308
27
1.57
0.65
1.15
7.32
including
298
307
9
3.05
1.15
2.34
18.9
BIDD236
572064
4897150
940
241
-65
aborted for technical reasons / no significant intervals
BIDD236A
571990
4897109
760
242
-65
112
133
21
3.05
1.77
1.2
43.47
BIDD237
572987
4896757
773
244
-44
completed / awaiting results
BIDD238
572555
4896692
862
61
-49
completed / awaiting results
BIDD239
572055
4897420
892
238
-55
completed / awaiting results
BIDD240
572417
4897031
891
80
-60
in progress
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Table 3: Drill holes results from the scout drilling campaign at Čoka Rakita that intercepted the deeper stratabound Cu-Au-Ag target:
HOLEID
EAST
NORTH
RL
AZ
DIP
FROM
TO
LENGTH
CuEq
Cu
Au
Ag
(m)
(m)
(m)
(%)
(%)
(g/t)
(g/t)
RIDD001*
572991
4896010
917
295
-67
694
704.1
10.1
1.26
1.03
0.23
7.10
and
885
892
7
1.57
0.71
1.07
7.70
RIDD002*
572971
4896089
903
290
-58
637
681
44
0.89
0.42
0.58
4.90
and
715
728
13
1.42
1.05
0.42
5.80
and
907
919
12
2.77
0.65
2.67
16.60
including
910
917
7
3.28
0.56
3.44
19.50
RIDD008*
573043
4895851
918
266
-65
639
650
11
0.97
0.65
0.32
8.40
RIDD009*
572972
4896088
903
301
-64
885
899
14
1.67
0.69
1.28
3.10
and
920
930
10
0.89
0.49
0.51
2.80
and
972.5
985
12.5
1.59
0.90
0.89
3.70
RADD027*
573485
4895816
885
263
-70
1118
1123
5
1.93
1.25
0.86
5.20
RADD036*
573252
4895879
926
290
-65
927
932
5
1.13
0.97
0.18
3.30
RADD043*
572945
4896595
791
235
-61
647
656
9
0.97
0.34
0.66
16.20
RADD044*
573618
4896015
844
270
-60
1102
1108
6
0.84
0.53
0.41
1.00
and
1110
1119
9
0.82
0.44
0.48
2.50
and
1163
1319
156
0.81
0.52
0.36
1.80
RADD046
572948
4896594
791
210
-67
771
777
6
1.27
0.86
0.52
3.01
and
938
951
13
1.07
0.59
0.62
3.18
and
966
991
25
0.86
0.47
0.49
2.97
and
1007
1035
28
0.83
0.54
0.36
2.4
and
1044
1052
8
0.84
0.57
0.33
2.41
RADD047
573142
4895672
943
252
-64
22
28
6
0.92
0.05
1.15
1.80
and
201
207
6
1.41
0.01
1.89
1.10
and
632
647
15
1.28
0.93
0.45
2.50
RADD047A
573014
4895628
637
250
-67
completed / awaiting results
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Notes applicable to all tables above:
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. No metallurgical testwork has been completed on the Frasen or Dumitru Potok prospects.
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.
6)
Daughter holes identified with “A” (e.g., DPDD018A) are navigational holes with collar coordinates and depth indicating the exit point from the parent hole.
7)
Holes noted with (*) were reported previously and have been recalculated and re-reported based on CuEq reporting criteria.
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Sampling, Analysis and QAQC of Exploration Drill Core Samples
Most exploration diamond drill holes are collared with PQ size, continued with HQ, and are sometimes finished with NQ. Triple tube core barrels and short runs are used whenever possible to improve recovery. All drill core is cut lengthwise into two halves using a diamond saw: one half is sampled for assaying and the other half is retained in core trays. The common length for sample intervals within mineralized zones is one metre. Weights of drill core samples range from three to eight kilograms (“kg”), depending on the size of core, rock type, and recovery. A numbered tag is placed into each sample bag, and the samples are grouped into batches for laboratory submission.
Drill core samples are shipped to the Company’s own exploration laboratory in Bor, Serbia, which is independently managed by SGS. SGS methods and procedures are accredited at SGS hub labs and independent internal lab QAQC check samples are sent to an SGS accredited laboratory. The Bor lab also participate in SGS monthly round robins, and other international Round Robins. Quality control samples, comprising certified reference materials, blanks, and field duplicates, are inserted into each batch of samples and locations for crushed duplicates and pulp replicates are specified. All drill core and quality control samples are tabulated on sample submission forms that specify sample preparation procedures and codes for analytical methods. For internal quality control, the laboratory includes its own quality control samples comprising certified reference materials, blanks and pulp duplicates. All QAQC monitoring data are reviewed, verified and signed off by an independent QAQC geologist. Chain of custody records are maintained from sample shipments to the laboratory until analyses are completed and remaining sample materials are returned to the Company. The chain of custody is transferred from the Company to SGS at the laboratory door.
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At the SGS Bor laboratory, the submitted drill core samples are dried at 105°C for a minimum of 12 hours, and then jaw crushed to approximately 80% passing four millimetres. Sample preparation duplicates are created by riffle splitting crushed samples on a 1-in-20 basis. Larger samples are riffle split prior to pulverizing, whereas smaller samples are pulverized entirely. Pulverization specifications are 90% passing 75 microns. Gold analyses are done using a conventional 50-gram fire assay and AAS finish. Multi-element analyses for 49 elements, including Ag, Cu, Mo, As, Bi, Pb, Sb, and Zn, are done using a four-acid digestion and an ICP-MS finish at SGS Bor and SGS Ankara laboratories. Samples returning over 10 ppm for Ag and 1% for Cu, Pb or Zn are analyzed with AAS finish. Sulphur is analyzed using an Eltra Analyzer equipped with an induction furnace.
Technical Information
Ross Overall, Corporate Director Technical Services of the Company, who is a Qualified Person as defined under NI 43-101, and Paul Ivascanu, General Manager, Exploration of the Company, have reviewed, and approved the scientific and technical content of this news release. Mr. Overall has verified the accuracy of the information presented in this disclosure.
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About Dundee Precious Metals
Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Serbia and Ecuador. The Company’s purpose is to unlock resources and generate value to thrive and grow together. This overall purpose is supported by a foundation of core values, which guides how the Company conducts its business and informs a set of complementary strategic pillars and objectives related to ESG, innovation, optimizing our existing portfolio, and growth. The Company’s resources are allocated in-line with its strategy to ensure that DPM delivers value for all of its stakeholders. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).
This news release contains “forward looking statements” or “forward looking information” (collectively, “Forward Looking Statements”) that involve a number of risks and uncertainties. Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “outlook”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or that state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The Forward Looking Statements in this news release relate to, among other things: future exploration potential at Čoka Rakita; the geology and metallurgy at Čoka Rakita; the price of commodities; and success of exploration activities. Forward Looking Statements are based on certain key assumptions and the opinions and estimates of management and the Qualified Persons, as of the date such statements are made, and they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any other future results, performance or achievements expressed or implied by the Forward Looking Statements. In addition to factors already discussed in this news release, such factors include, among others, uncertainties with respect to actual results of current exploration activities; uncertainties inherent with conducting business in foreign jurisdictions where corruption, civil unrest, political instability and uncertainties with the rule of law may impact the Company’s activities; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals for exploration activities; opposition by social and non-governmental organizations to exploration activities and mining operations; unanticipated title disputes; claims or litigation; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; cyber-attacks and other cybersecurity risks; as well as those risk factors discussed or referred to in any other documents (including without limitation the Company’s most recent Annual Information Form) filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available on SEDAR+ at www.sedarplus.ca. The reader has been cautioned that the foregoing list is not exhaustive of all factors which may have been used. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward Looking Statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that Forward Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company’s Forward Looking Statements reflect current expectations regarding future events and speak only as of the date hereof. Unless required by securities laws, the Company undertakes no obligation to update Forward Looking Statements if circumstances or management’s estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on Forward Looking Statements.
Figures accompanying this announcement are available at:
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