Dundee Precious Metals announce new gold and copper discovery

Dundee Precious Metals announce new gold and copper discovery

Canadian mining firm Dundee Precious Metals (TSX: DPM) have announced the discovery of a new zone in its Bulgaria-based Chelopech mine containing high grade copper and gold stores.

The minerals were found in the project’s Zone 153 as part of the company’s ongoing ‘upper levels’ resource development drill programme, which commenced in mid-2015.

The first drill analysis revealed results of 84.0m at 13.58 g/t gold and 2.87% copper, with the second showing 16.8m at 6.60 g/t gold and 1.86% copper.

Rick Howes, President and CEO of DPM, said: “This discovery illustrates the continued success of our in-mine exploration program and the potential that still exists to enhance and extend the life of the Chelopech mine.”

Chelopech, located 70 kilometres east of Sofia, currently produces a copper concentrate containing gold and silver and a pyrite concentrate containing gold. The area’s mining history stretches back to 1954.

Last month, DPM announced its gold and copper production figures were 36,791 ounces and 9.4 million pounds, throughout the third quarter.