DPM Metals (TSX: DPM) has made a new discovery at their flagship Chelopech Mine in Bulgaria, with new high grade mineralization being intersected approximately 300 metres below existing reserve and mine infrastructure.
The discovery, made within the Wedge Zone Deep, is found on the northern flank of the Chelopech mine concession. The target area is said to be a broad corridor of prospective ground that is roughly 100 metres below elevation, found in the hanging wall of the Petrovden Fault.
Highlights from the drill results include:
- EX_WZD_165_01: 40 metres of 12.40 g/t gold equivalent (11.54 g/t gold, 0.53% copper and 17.70 g/t silver) from a depth of 456 metres
- Including 31 metres of 14.84 g/t gold equivalent (13.81 g/t gold, 0.63% copper, and 19.83 g/t silver)
- EX_WZD_210_01: 68.3 metres of 7.42 g/t gold equivalent (6.92 g/t gold, 0.30% copper and 10.50 g/t silver) from a depth of 590.7 metres
- Including 28 metres of 13.41 g/t gold equivalent (12.78 g/t gold, 0.39% copper, and 17.75 g/t silver)
- EX_WZD_210_01А: 48.1 metres of 9.41 g/t gold equivalent (8.99 g/t gold, 0.26% copper and 12.23 g/t silver) from a depth of 594.9 metres
- Including 36 metres of 11.63 g/t gold equivalent (11.12 g/t gold, 0.31% copper, and 14.61 g/t silver)
- EX_WZD_210_01B: 14 metres of 13.41 g/t gold equivalent (12.58 g/t gold, 0.51% copper and 16.57 g/t silver) from a depth of 601 metres
“We are excited by the discovery high-grade mineralization at the Wedge Zone Deep target at Chelopech, which underscores the significant exploration potential at our core operation. These impressive results highlight long-term potential to add high-grade Mineral Resources within the Chelopech mine concession, extend mine life and enhance long-term value for all stakeholders,” commented David Rae, CEO of DPM Metals on the discovery.
As part of next steps, DPM has stated that it is allocating $2-3 million for exploration at the target, with the intent of conducting a 10,000 metre infill and delineation drill program, which is expected to wrap up by the end of Q1 2026. The focus under the program includes identifying geometry, continuity, and mineral resource potential. At the same time, the company is said to be studying the options for mine development towards the target.
DPM Metals last traded at $34.31 on the TSX.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
