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  • Dundee Precious Metals (DPM) is releasing details of a significant, high-grade discovery at its Čoka Rakita exploration prospect in eastern Serbia
  • The Toronto-based mineral exploration firm intersected 40 metres at 63.6 grams of gold per tonne and 0.11 percent copper
  • The prospect is located three kilometres southeast of the company’s Timok Gold Project and is 100-per-cent owned by Dundee
  • The company achieved total combined gold recoveries of greater than 93 percent
  • Dundee Precious Metals is up 3.55 percent, trading at $7.87 at 12:37 p.m. EST

Dundee Precious Metals (DPM) is releasing details of a significant, high-grade discovery at its Čoka Rakita exploration prospect in eastern Serbia.

The Toronto-based mineral exploration firm intersected 40 metres at 63.6 grams of gold per tonne and 0.11 percent copper.

The prospect is located three kilometres southeast of the company’s Timok Gold Project and is 100-per-cent owned by Dundee.

The most recent work also expands on positive results from previously drilled holes.

Approximately 40,000 metres of infill, extensional and target delineation drilling is planned for 2023, with a focus on further evaluating the deposit geometry, grade continuity and mineral resource potential.

Preliminary metallurgical test results indicate that the mineralized material is amenable to conventional flotation and produces a clean gold concentrate, achieving total combined (flotation and tails leach) gold recoveries of greater than 93 percent.

Test work to potentially improve overall gold recovery using a combined gravity and flotation circuit is planned for 2023.

“We are excited to announce these exceptional results from recent drilling completed at the Čoka Rakita prospect in Serbia. Drilling has defined a large, high-grade footprint that remains open in multiple directions, which we believe provides additional upside potential,” said President and Chief Executive Officer David Rae.

“The discovery of a high-grade deposit in close proximity to our Timok gold project is an exciting development for the overall property package. Our activities in Serbia will now focus on exploration at Čoka Rakita as we continue to assess the mineral resource potential of this new discovery.”

Dundee Precious Metals is up 3.55 percent, trading at $7.87 at 12:37 p.m. EST.


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