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Dundee Precious Metals Posts High-Grade Results from Wedge Zone Deep Prospect

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DPM Metals (DPM.TO) reported results from delineation drilling at the Wedge Zone Deep prospect within the Chelopech mine concession in Bulgaria, according to a Wednesday news release.

The results confirm and extend high-grade mineralization, with the mineralized zone now defined over about 170 meters along strike, 130 metres in width and 300 metres in vertical extent, a statement said.

Highlights of the results include 58 m grading 15.28 grams per tonne gold equivalent, 47.3 m grading 5.45 g/t gold equivalent, and 81 m grading 8.05 g/t gold equivalent.

An initial mineral resource estimate is expected by the end of the year as part of the Chelopech annual mineral resource and mineral reserve update.

"Chelopech, in addition to being DPM's flagship operation with a decade-long track record of delivery, is transforming into an exciting exploration story, as demonstrated by these new results," said David Rae, President and Chief Executive Officer.

"These drill results expand the size of the Wedge Zone Deep prospect and demonstrate the continuity of the high-grade mineralization. Located approximately 250 metres below existing mine infrastructure, with drilled gold grades more than double the Chelopech mine's average gold Reserve grade, this target has significant potential to drive future value."

Shares in DPM fell $1.95 or 4.3% to $42.82 yesterday.

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