Dundee Precious Metals Reports Wide High-Grade Intercepts from the Dumitru Potok Prospect; Results include 190 metres at 2.07% Cu, 1.23 g/t Au and 12.19 g/t Ag.
1
Dundee Precious Metals Reports Wide High-Grade Intercepts from the Dumitru Potok
Prospect; Results include 190 metres at 2.07% Cu, 1.23 g/t Au and 12.19 g/t Ag.
Toronto, February 19, 2025 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”)
today reported wide intercepts from drilling at the copper-gold-silver Dumitru Potok prospect, located on
the Čoka Rakita exploration licence. Based on these strong results, DPM is accelerating its systematic
target delineation drilling campaign at Dumitru Potok to further extend th ese high-grade zone s. The
Company also reported additional results from Rakita North and early results from the new Valja Saka
target, which are located on the Čoka Rakita and Potaj Čuka licences, respectively. All three prospects
are located near planned Čoka Rakita project infrastructure.
Highlights
(Refer to Tables 1, 2 and 3 for full results)
• New high-grade intercepts, including:
▪ DPDD025A – 190 metres 2.07% Cu, 1.23 g/t Au and 12.19 g/t Ag from 808 metres downhole,
including 49 metres at 4.18% Cu, 1.48 g/t Au and 21.7 g/t Ag from 842 metres downhole at the
Dumitru Potok prospect
▪ DPDD026 – 36 metres at 1.8% Cu, 1.4 g/t Au and 11.76 g/t Ag from 953 metres downhole and
115 metres at 1.47% Cu, 2.73 g/t Au and 9.69 g/t Ag from 1,170 metres downhole including 38
metres at 2.59% Cu, 4.05 g/t Au and 17 g/t Ag from 1,195 metres downhole at the Dumitru
Potok prospect
▪ RADD050 – 40 metres at 0.64% Cu, 0.49 g/t Au and 1.81 g/t Ag from 780 metres downhole and
140 metres at 0.88% Cu, 0.6 g/t Au and 2.94 g/t Ag from 990 metres downhole at the Rakita
North prospect
▪ RADDHG008 – 30 metres at 0.52% Cu, 0.42 g/t Au and 2.31 g/t Ag from 1,074 metres
downhole and 105 metres at 0.69% Cu, 0.51 g/t Au and 2.81 g/t Ag from 1,120 metres
downhole at the Rakita North prospect
▪ VSDD010 – 8.3 metres at 5.31 g/t Au from 325 metres downhole, and 15 metres at 0.62 % Cu,
0.66 g/t Au and 21.9 g/t Ag from 808 metres downhole, and 20 metres at 0.17 % Cu, 93 g/t Ag,
5.15 % Zn and 1.48 % Pb from 848 metres downhole at Valja Saka prospect
• Dumitru Potok prospect: Recent drilling confirms the presence of a large, high-grade copper-gold-
silver skarn system with mineralization concentrated along both the eastern and western sides of a
causative intrusion. Based on drilling to date, mineralization has been detected over a one-kilometre
strike length, up to 300 metres vertically and up to 500 metres away from the causative intrusion.
The Dumitru Potok prospect is characterised by long intercepts of continuous high-grade
mineralization that currently remains open in multiple directions.
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• Rakita North prospect: New drill results from the Rakita North prospect confirm presence of
significant marble-hosted copper-gold-silver mineralization on the northern flank of the Čoka Rakita
deposit. This is best demonstrated by drillhole RADD050, which is proximal to the Čoka Rakita
planned underground development (see Figure 3). These drill results confirm a relatively higher-
grade core of approximatively 300 metres by 150 metres developed over a vertical exten t of
approximately 300 metres, which remains open in multiple directions.
• Valja Saka prospect: Scout exploration drilling encounter ed strong skarn-altered sediments with
garnet and magnetite and occasional visible gold, analogous to the Čoka Rakita style of
mineralization. Additionally, drillhole VSDD010 confirmed the potential for polymetallic carbonate
replacement mineralization with significant silver, copper, zinc and lead grades.
• Preliminary metallurgical tests: Achieved copper rougher recoveries associated with samples from
the Dumitru Potok, Rakita North and Frasen prospects of over 90% at a grind size of 75µm. These
preliminary results indicate the potential for lower energy consumption and consistent copper
concentrate grades. This aligns with the average bond work index figures and indicates promising
characteristics for ore processing.
• Next steps: DPM is pursuing potential skarn and manto-like stratabound targets with a 55,000-metre
scout and target delineation drilling campaign, focused on the Čoka Rakita licence, including the
Dumitru Potok prospect, as well as the Potaj Čuka and Pešter Jug licences. Based on these positive
results, dedicated target delineation drilling will be allocated to high priority targets with up to 15 rigs
expected to be deployed by early spring.
“These impressive results at Dumitr u Potok clearly demonstrate the existence of a large copper -gold
deposit that has the potential to provide additional high-grade mineral resources adjacent to the planned
infrastructure of Čoka Rakita. The drill program continues to expand the Dumitru Potok discovery, and
we have yet to define its limits as it remains open in multiple directions and at depth ,” said David Rae,
President and Chief Executive Officer of Dundee Precious Metals.
“Our exploration team and strong financial position has continued to add value through the drill bit,
supported by our strategy to create a robust platform for growth to deliver above-average returns for our
shareholders.”
Scout Drilling Program Overview
The Company has continued to progress its scout drilling program, completing over 18,000 metres and
23 drill holes since the previous update on September 11, 2024, with nine drill holes in progress.
See Figures 1 , 2 and 3 for plan, section and 3D views highlighting recent drilling at the Dumitru Potok,
Rakita North and Valja Saka prospects.
At the Dumitru Potok prospect , located approximately one kilometre northeast of Čoka Rakita, a
directional target delineation drilling program is ongoing with multiple daughter holes outlining a sub-
vertical monzodiorite intrusive body, with proximal high -grade stratabound copper-gold-silver
mineralization on the conglomerate-marble unconformity and along the marble-intrusive contact zone.
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Based on the drilling to date , stratabound conglomerate-marble unconformity hosted mineralization
extends outward from the eastern and western margins of the causative intrusion. Mineralization can be
traced for more than one kilometr e of strike length and up to 500 hundred metres away from the
causative intrusion and varies in thickness from five metres to up to 40 metres. Mineralization on the
marble-intrusive contact zone is developed for more than 300 metres vertically, either as contact skarns
or as stratabound lenses within reactive marbles, including on the lower marble-basement contact. The
mineralization is open in all directions and its full footprint and grade continuity have yet to be defined.
On the east flank of the Dumitru Potok intrusive, DPDD025A was collared to test below holes DPDD012
and DPDD012A, and encountered a wide zone of strong skarn alteration and mineralization developed
on marbles and returned an intercept of 190 metres at 2.07% Cu, 1.23 g/t Au and 12.19 g/t Ag , which
includes a higher grade zone of 49 metres at 4.18% Cu, 1.48 g/t Au and 21.7 g/t Ag.
See Figure 4 for details of the mineral assemblage in DPDD025A.
On the west flank of Dumitru Potok intrusive, drill hole DPDD0 26 confirmed the extension of strong
mineralization to the south on the upper marble contact, returning 36 metres at 1.8% Cu, 1.4 g/t Au and
11.76 g/t Ag from 953 metres downhole . The extension of the hole aimed to test the potential of the
lower marble -basement contact target and successfully intercept ed a wide zone of stron g skarn
alteration and mineralization of 115 metres at 1.47% Cu, 2.73 g/t Au and 9.69 g/t Ag from 1,170 metres
downhole, including 38 metres at 2.59% Cu, 4.05 g/t Au and 17 g/t Ag from 1,195 metres.
These new intercepts confirm the potential for more than 300 metres of vertical extension in proximity
of the causative intrusion when viewed in conjunction with other drillholes.
See Figure 5 for details of the mineral assemblage in DPDD026.
Table 1. Drill holes results from the scout drilling campaign testing stratabound and marble-intrusive
contact hosted targets at Dumitru Potok.
HOLEID EAST NORTH RL AZ DIP
FROM TO LENGTH CuEq Cu Au Ag
(m) (m) (m) (%) (%) (g/t) (g/t)
DPDD015A 573499 4896700 124 238 -49 completed / awaiting results
DPDD019 573268 4897247 697 213 -82 no significant intervals
DPDD019C 573239 4897198 258 216 -84 no significant intervals
DPDD020* 573262 4897014 722 241 -55 508 513 5 0.84 0.75 0.11 0.28
DPDD021 573115 4897637 680 240 -65 condemnation hole / no significant intervals
DPDD022 572687 4896993 775 64 -81 aborted for technical reasons / no significant intervals
DPDD023 573665 4897081 698 250 -71 1122 1161 39 1.03 0.58 0.56 4.07
DPDD023A 573562 4897055 152 229 -80 completed / awaiting results
DPDD024 573267 4897528 669 50 -55 54 60 6 0.89 0.43 0.62 0.77
DPDD025 573700 4897659 726 229 -67 completed / awaiting results
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HOLEID EAST NORTH RL AZ DIP
FROM TO LENGTH CuEq Cu Au Ag
(m) (m) (m) (%) (%) (g/t) (g/t)
DPDD025A 573537 4897525 219 220 -65 808 998 190 3.09 2.07 1.23 12.19
including 826 834 8 5.77 1.95 4.96 17.00
including 842 891 49 5.47 4.18 1.48 21.70
including 911 924 13 3.45 1.95 1.80 18.40
including 935 977 42 3.16 2.06 1.35 12.20
DPDD025B 573544 4897533 243 233 -67 in progress
DPDD026 573268 4897012 713 279 -69 953 989 36 2.94 1.80 1.40 11.76
including 961 984 23 3.79 2.34 1.77 15.50
and 1142 1148 6 1.00 0.64 0.44 4.60
and 1170 1285 115 3.57 1.47 2.73 9.69
including 1195 1233 38 5.74 2.59 4.05 17.00
including 1259 1267 8 4.74 2.51 2.84 14.40
DPDD026A 573082 4897041 204 278 -71 in progress
DPDD027 573118 4897637 680 50 -55 condemnation hole / no significant intervals
DPDD028 572983 4897760 699 238 -70 752 788 36 1.43 1.13 0.29 8.57
DPDD029 573267 4897527 670 96 -50 condemnation hole / awaiting results
DPDD030 573859 4896932 649 179 -48 condemnation hole / no significant intervals
DPDDHG001 572904 4897220 746 150 -89 887 922 35 1.67 1.02 0.79 7.61
including 888 893 5 3.62 1.85 2.24 13.1
and 1024 1035 11 0.8 0.61 0.18 5.64
1) Coordinates are in UTM Zone 34 North WGS84 datum.
2) Intervals are reported at a cut -off grade of 0.8% CuEq using 5 metres minimum length and 10 metres maximum internal
dilution. Higher grade sub -intervals denoted with ‘including’ are reported at a cut -off grade of 3% CuEq using 5 metres
minimum length and 5 metres maximum internal dilution.
3) The CuEq calculation is based on the following formula: Cu % + Au g/t x 0.74 + Ag g/t x 0.009 based on a copper price of
$2.75/lb, gold price of $1,400/oz and silver price of $17/oz; and assumes metallurgical recoveries of 90% all metals within the
equivalency calculation. Metallurgical assumptions are based on initial floatation testwork completed on the stratabound
hosted Cu-Au-Ag mineralization at Čoka Rakita North and ongoing metallurgical testing.
4) No upper cuts have been applied.
5) Based on the limited understanding of the geometry of the mineralized body, true widths are considered to be 90% or more
of the reported downhole interval, assuming strata-bound control on the mineralization. For holes DPDD026 and DPDD025A
due of potential vertical extent of the mineralization along the contact, the true width cannot be evaluated at this time.
6) Daughter holes identified with “A” (e.g., DPDD025A) are navigational holes with collar coordinates and depth indicating the
exit point from the parent hole.
Based on these strong results, DPM is accelerating the systematic target delineation drilling campaign
at Dumitru Potok to further extend these high-grade zones and build additional confidence on the shape,
size and grade tenor of the encountered mineralization.
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At the Rakita North target, located on the northwestern flank of the Čoka Rakita deposit and proximal
to planned underground development, two deep holes have been completed that intercepted significant
copper-gold mineraliza tion over most of the 300-metre thickness of the marbles . Mineralization is a
combination of manto-like skarn mineralization on the upper and lower contact, as well as more discrete
replacement and stockwork veins over the entire marble lithological package.
These results include hole RADDHG008, which reported 30 metres at 0.52% Cu, 0.42 g/t Au and 2.31
g/t Ag from 1,074 metres downhole and 105 metres at 0.69% Cu, 0.51 g/t Au and 2.81 g/t Ag from 1,120
metres downhole. Additional results include hole RADD050, which returned 40 metres at 0.64% Cu,
0.49 g/t Au and 1.81 g/t Ag from 780 metres downhole and 140 metres at 0.88% Cu, 0.6 g/t Au and 2.94
g/t Ag from 990 metres downhole. These drill intercepts are approximately 500 metres below the Čoka
Rakita planned underground infrastructure (see Figure 3).
These new drill intercepts show significant copper-gold mineralization developed over an up to 300-
metre vertical section, by more than 300 metres by 150 metres laterally, and remains open in multiple
directions. Further drilling is ongoing, including daughter holes to follow-up hole RADD050 as well as
additional scout holes from surface aimed to test continuity towards Dumitru Potok and the larger
potential extensions to east and southeast.
Table 2. Drill holes results from the scout drilling campaign testing the copper-gold-silver marble hosted
targets at Rakita North.
HOLEID EAST NORTH RL AZ DIP
FROM TO LENGTH CuEq Cu Au Ag
(m) (m) (m) (%) (%) (g/t) (g/t)
RADD046* 572948 4896594 791 210 -67 1007 1068 61 0.84 0.55 0.36 2.58
RADD050 572970 4896087 903 313 -82 780 820 40 1.02 0.64 0.49 1.81
and 990 1130 140 1.34 0.88 0.60 2.94
RADDHG008 572992 4896006 917 275 -85 863 869 6 1.52 0.91 0.78 3.65
and 944 958 14 0.95 0.47 0.58 4.92
and 962 990 28 0.80 0.48 0.41 1.94
and 1002 1007 5 0.92 0.58 0.44 1.99
and 1018 1026 8 0.82 0.54 0.35 2.29
and 1074 1104 30 0.85 0.52 0.42 2.31
and 1120 1225 105 1.10 0.69 0.51 2.81
1) Coordinates are in UTM Zone 34 North WGS84 datum.
2) Intervals are reported at a cut -off grade of 0.8% CuEq using 5 metres minimum length and 10 metres maximum internal
dilution. Higher grade sub -intervals denoted with ‘including’ are reported at a cut -off grade of 3% CuEq using 5 metres
minimum length and 5 metres maximum internal dilution.
3) The CuEq calculation is based on the following formula: Cu % + Au g/t x 0.74 + Ag g/t x 0.009 based on a copper price of
$2.75/lb, gold price of $1,400/oz and silver price of $17/oz; and assumes metallurgical recoveries of 90% all metals within the
equivalency calculation. Metallurgical assumptions are based on initial floatation testwork completed on the stratabound
hosted Cu-Au-Ag mineralization at Čoka Rakita North and ongoing metallurgical testing.
4) No upper cuts have been applied.
5) Based on the limited understanding of the geometry of the mineralized body true widths cannot be calculated at this time.
6) RADD046* was re-reported due of additional silver assays (ICP) being received.
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Scout exploration drilling commenced at the Valja Saka prospect, which is located approximately two
kilometres north of Čoka Rakita, targeting shallow skarn -altered marble and sandstone -hosted gold-
silver-base metals mineralization, previously mapped in the area . Several holes from the program
encountered strong skarn -altered sediments with garnet and magnetite and occasionally with visible
gold, analogous to the Čoka Rakita style of mineralization.
Of note is VSDD010 drillhole which was collared as a long scout hole to follow-up on a magneto-telluric
(“MT”) conductivity anomaly . This hole intersected a zone of skarn alteration with visible gold that
returned 8.3 metres at 5.31 g/t Au from 325 metres downhole . The hole continued into a weakly
mineralized copper-gold porphyry, which then passed into a zone of polymetallic, carbonate
replacement mineralization that returned 15 metres at 0.62 % Cu, 0.66 g/t Au and 21.9 g/t Ag from 808
metres downhole, and 20 metres at 0.17 % Cu, 93 g/t Ag, 5.15 % Zn and 1.48 % Pb from 848 metres
downhole.
The shallow gold skarn target was followed up by VSDD011 that reported a narrow interval with coarse
visible gold of 4.6 metres at 43.95 g/t Au and 0.15% Cu from 302.4 metres downhole and by VSDD012
that reports 9 metres at 2.69 g/t Au and 0.14 % Cu from 237 metres downhole.
Table 3. Drill holes results from the scout drilling campaign at Valja Saka skarn gold target.
HOLEID EAST NORTH RL AZ DIP
FROM TO LENGTH AuEq Au Cu Ag Pb Zn
(m) (m) (m) (g/t) (g/t) (%) (g/t) (%) (%)
VSDD010 572343 4898290 713 241 -60 325 333.3 8.3 5.45 5.31 0.09 0.30 - -
and 349 367 18 1.02 0.63 0.28 0.80 - -
and 808 823 15 2.16 0.66 0.62 21.90 0.04 0.63
and 848 868 20 5.14 0.08 0.17 93.00 1.48 5.15
including 849 864 15 5.91 0.09 0.18 109.10 1.85 5.83
VSDD011 572345 4898290 713 222 -51 302.4 307 4.6 44.15 43.95 0.15 - - -
VSDD012 572178 4898313 703 235 -50 237 246 9 2.92 2.69 0.14 2.90 - -
598 613 15 1.35 0.06 0.21 53.00 0.63 0.20
VSDD013 572343 4898294 713 266 -62 completed / awaiting results
1) Coordinates are in UTM Zone 34 North WGS84 datum.
2) Intervals are reported at a cut-off grade of 1g/t AuEq using 5 metres minimum length and 5 metres maximum internal dilution.
Higher grade sub -intervals denoted with ‘including’ are reported at a cut -off grade of 5 g/t AuEq using 5 metres minimum
length and 5 metres maximum internal dilution.
3) The AuEq calculation is based on the following formula: Au g/t + Cu % x 1.35 + Ag g/t x 0.012 + Pb % x 0.39 + Zn % x 0.61
based on a copper price of $2.75/lb , gold price of $1,400/oz , silver price of $17/oz , lead prices of $0.8/lb and zinc price of
1.25$/lb; and assumes metallurgical recoveries of 90% all metals within the equivalency calculation. Metallurgical assumptions
are based on testing of other polymetallic showings within the license area.
4) No upper cuts have been applied.
5) Based on the limited understanding of the geometry of the mineralized body, true widths cannot be calculated at this time.
The mineralization remains open in multiple directions and will be tested as part of DPM’s upcoming
55,000-metre drilling campaign.
See Figure 3 for a better understanding of the spatial disposition of different targets.
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Preliminary Metallurgical Testwork Results
Metallurgical testing is ongoing , with five representative 30 kilogram composite s amples from the
Frasen, Dumitru Potok and Rakita North discoveries . Refer to Table 4 for key parameters of the
composites. Testing is being undertaken at the Wardel Armstrong International laboratory in the United
Kingdom.
Table 4. Description, bond work index and head assay values from composite samples taken from of
copper-gold-silver mineralization at Dumitru Potok, Frasen and Rakita North.
Sample ID Prospect Geological Description BWi
(KWhr/t)
Head Assay (%, *ppm)
Cu Zn Fe Au* Ag* S(TOT)
BI1 Frasen
Carbonate replacement in marble,
(semi) massive pyrite-chalcopyrite-
sphalerite-galena mineralization
10.27 2.03 5.14 24.84 2.43 92.05 21.80
DP1 Dumitru Potok
East
Magnetite-calcite-chlorite skarn,
chalcopyrite-bornite mineralization 11.30 3.58 - 20.82 2.78 22.58 3.63
DP2 Dumitru Potok
East
Patchy hematite-iron-oxide-
hydroxide-garnet altered skarn,
chalcopyrite-bornite mineralization
12.44 1.17 - 7.82 1.36 5.57 1.17
DP3 Dumitru Potok
West
Hematite-garnet, silica, locally
magnetite altered skarn, bornite-
covellite-digenite-native Cu
mineralization
13.27 2.77 - 8.23 1.65 18.90 1.16
RA1 Rakita North
Hematite-garnet-silica altered
marbles with pyrite-chalcopyrite-
bornite mineralization
12.70 1.18 - 13.16 0.95 6.21 1.65
Initial bulk rougher tests at a grind size of 75µm indicate that copper responds well to flotation with
recoveries above 90% after the first ten minutes of testing. These preliminary results indicate the
potential for lower energy consumption and consistent copper concentrate grades . This aligns with the
average bond work index figures and indicates promising characteristics for ore processing. However,
pyrite (for sample BI1) and non -sulphide gangue (for the rest of the samples) recoveries increase into
the concentrate in the last ten minutes of float, which is suspected to be diluting rougher concentrate
copper grades and will be an area for improvement in subsequent metallurgical testing programs .
Table 5. Preliminary results of Rougher Flotation tests on four samples from the Dumitru Potok and
Rakita North prospects.
Sample ID Mass Recovery (%)
Rougher Concentrate Assay (%, *ppm) Recovery (%)
Cu Fe Au* Ag* S(TOT) Cu Fe Au Ag S(TOT)
DP1 20.0 17.5 24.8 13.3 101.4 17.6 97.5 23.8 96.0 89.7 96.7
DP2 19.1 5.9 16.1 6.5 27.1 5.7 96.5 39.2 91.1 92.7 92.4
DP3 21.2 12.8 9.6 7.4 84.6 5.4 98.4 24.6 94.7 95.0 98.4
RA1 19.5 5.8 18.0 4.2 27.3 8.1 96.5 26.8 86.4 85.8 95.2
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Table 6. Preliminary selective Rougher Flotation test results from polymetallic mineralization from the
Frasen prospect.
BI1
Rougher concentrate grade (%, *ppm) Recovery (%)
Cu Pb Zn Au* Ag* Mass Cu Pb Zn Au Ag
Cu concentrate 6.88 2.02 5.31 5.75 260.7 25.3 88.1 70.3 28.1 70.9 69.4
Zn Concentrate 0.48 0.56 9.36 1.23 71.4 36.0 8.7 27.9 70.4 21.6 27.0
Total 61.3 96.8 98.2 98.5 92.5 96.3
Initial gravity testing indicated a variable gravity gold recoverable component from between 22.3% to
57.6% for the DP1 sample. Copper losses to gravity concentrate also vary, with BI1 having a low copper
loss of only 1.6% whilst DP2, DP3 and RA1 lost 9.2%, 16.4% and 12.3% respectively. The results
indicate limited amounts of freely recoverable gold, which generally aligns with the flotation testwork
where both the silver and gold appear ed to respond well to flotation . Importantly, silver and gold
experienced relatively quick recovery to the concentrates, suggesting an association with sulphides.
Table 7. Preliminary results of Knelson Gravity tests from representative copper-gold-silver
mineralization at Dumitru Potok, Frasen and Rakita North.
Sample ID Mass Recovery (%)
Assay (%, *ppm) Recovery (%)
Cu Zn Au* Ag* Cu Zn Au Ag
BI1 2.11 1.4 2.9 28.0 428.9 1.6 1.3 25.8 8.8
DP1 1.49 5.8 - 89.0 73.0 2.4 - 57.6 4.4
DP2 1.49 7.1 - 21.1 65.3 9.2 - 27.8 16.1
DP3 1.75 25.5 - 43.1 218.4 16.4 - 36.7 18.5
RA1 1.59 8.7 - 12.3 81.9 12.3 - 22.3 19.7
The results to date demonstrate high recoveries are achievable, al beit with a significant mass pull,
attributed to elevated levels of pyrite in certain samples, while others exhibit a higher presence of
unspecified gangue. Future testing will focus on reducing mass pull by examining the effects of grind
size on non-sulphide gangue and pyrite recovery, as well as exploring the advantages of incorporating
a cleaning circuit for concentrate enhancement. Ongoing testwork include s a detailed mineralogical
investigation to determine a range of key mineralogical criteria.
Significant 2025 Exploration Program Ongoing
DPM’s exploration program in cludes approximatively 55,000 metres of drilling to follow-up on positive
results to extend existing zones of mineralization and to continue testing enhanced targeting models. A
portion of this drilling will be dedicated to the Dumitru Potok and Frasen target delineation programs ,
which will aim to define the stratabound-hosted mineralization, which is open in multiple directions, and
to better understand the continuity of the mineralization along strike and away from the causative
intrusions.