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Dundee Precious Metals Announces Mine Life Extension and Update to Mineral Resource and Mineral Reserve Estimates for the Chelopech Mine
TORONTO, March 30, 2021 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) is pleased to announce a mine life extension and upd
About this update from Dpm Metals Inc.
[{"type":"text","content":" TORONTO, March 30, 2021 (GLOBE NEWSWIRE) -- Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) is pleased to announce a mine life extension and updated Mineral Resource and Mineral Reserve estimate for the Chelopech mine in Bulgaria. The Mineral Resource and Mineral Reserve estimates for DPM’s Ada Tepe mine in Bulgaria and Timok gold project in Serbia remain unchanged from the estimates previously reported in the news releases dated October 16, 2020 and February 23, 2021, respectively. Highlights 10% net addition to Mineral Reserves: Successfully added 3.9 million tonnes (“Mt”) to Mineral Reserves, which more than offset 2020 production depletion of 2.2 Mt for a net addition of 1.7 Mt. Relative to the previous Mineral Reserve estimate, this represents an increase of 10% in tonnage and an increase in metal content of 5% for gold, 13% for silver and 3% for copper; Mine life extended to 2029: Proven and Probable Mineral Reserves of 1.7 million ounces (Moz.) of gold and 344.4 million pounds (Mlbs.) of copper supports an optimized mine life that extends to 2029 as well as the Company’s previously issued three-year outlook for Chelopech; 22% increase to Measured and Indicated Mineral Resources: Measured and Indicated Mineral Resources, exclusive of Mineral Reserves, increased 22%, representing a 3.2 Mt net increase in tonnage and an increase in metal content of 12% for gold and 6% for copper, further adding to the potential to extend mine life, if such Mineral Resources are converted to Mineral Reserves; Additional potential with in-mine and brownfield exploration: Significant drilling program planned for 2021, including 44,000 metres of in-mine drilling and 38,000 metres of drilling on prospective brownfield targets. “We continued our strong track record of extending mine life at our Chelopech mine in 2020, with net additions to our Mineral Reserves and Mineral Resources compared with 2019 estimates,” said David Rae, President and Chief Executive Officer of Dundee Precious Metals. “With Mineral Reserves that now extend to 2029, an updated Mineral Resource base and increased in-mine and brownfield exploration drilling, we believe there is strong potential for this trend to continue at Chelopech.” Updated Mineral Resource and Mineral Reserve Estimate The updated Mineral Resource and Mineral Reserve estimate for the Chelop...