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
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
Toronto, September 11, 2024 – 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.
• 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.
Visit https://vrify.com/decks/16865 to view an interactive 3D model highlighting these results.
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“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.
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.
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.
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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.
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 conta ct 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.
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.
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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).
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, s cout 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.
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 Pota j Čuka exploration licence,
extending for several kilometres along strike no rth 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.
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.
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Figure 1. Project scale map highlighting the updated targets and results from the ongoing scout drilling
program.
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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.
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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