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DPM Metals Discovers High-Grade Porphyry Mineralization Adjacent to Chelopech Mine

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DPM Metals (DPM.TO) discovered high-grade, gold-copper porphyry mineralization at the Brevene South Porphyry (BSP) target, located in the southeastern part of its Brevene exploration licence and contiguous with the Chelopech mine concession, it said on Wednesday.

Initial results from drilling program at BSP "demonstrate potential for scale and continuity with broad, continuous intervals of high-grade gold-copper porphyry mineralization," it said. Drilling continues with the aim of expanding known mineralization, with five high-capacity drill rigs dedicated to the target and up to 15,000 meters planned through the end of 2026.

Drillhole EX_BRESPO_03 intersected high-grade gold-copper porphyry mineralization from 1,172 meters downhole depth, about 1,000 meters vertically below surface at an elevation of negative 380 meters, on the southeastern flank of the Chelopech mine. Drillhole EX_BRESPO_03 has returned an interval of 713 meters at an average grade of 2.52 grams per tonne (g/t) gold equivalent (AuEq) from 1,172 to 1,885 meters downhole.

"These results demonstrate both the grade and scale of the target, with over 713 meters grading 2.52 grams per tonne gold equivalent over a broad, continuous interval of mineralization," said DPM Metals Chief Executive David Rae. "The BSP discovery has confirmed our geological understanding within a known mineral belt containing several significant deposits and which remains open to further extension."

The company also has seven additional drill rigs deployed across the Brevene licence area to test multiple target areas.

Shares of the company closed up 2.5% to $45.97 on Tuesday on the Toronto Stock Exchange.

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