DPM Metals has updated the mineral reserve and resource estimate and life of mine plan for its Chelopech mine in Bulgaria.
The company extended Chelopech’s mine life to 2036 based on the updated mineral reserve estimate, with sustained production levels of approximately 160,000 gold equivalent ounces per year.
The proven and probable mineral reserves increased to 23.2 million tonnes, representing a net increase of 42 per cent in tonnage and increase in metal content of 12 per cent for gold and 10 per cent for copper.
Contained gold increased by 174,000 ounces and contained copper increased by 28 Mlbs, relative to the previous mineral reserve estimate as of May 31, 2024.
David Rae, CEO of DPM Metals, said: “Our updated Mineral Reserve estimate, which extends Chelopech’s mine life to 10 years, is a strong indication of Chelopech’s track record of replacing Mineral Reserves, and we believe there is potential to continue this trend going forward.
“We continue to be excited by the Wedge Zone Deep discovery, which underscores the potential at our core operation to add high-grade Mineral Resources within the Chelopech mine concession, extend mine life and enhance long-term value for all stakeholders.”
The company updated its mineral resource estimate to reflect updated mineral resource estimation parameters as well as updated cut-off calculation assumptions, and is effective as at May 31, 2025.
The estimate does not include the Wedge Zone Deep discovery, located within the northern flank of the Chelopech mine concession.
DPM Metals is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Bosnia and Herzegovina, Serbia and Ecuador.
