Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) is pleased to announce an updated Mineral Resource and Mineral Reserve Estimate and improved life of mine (“LOM”) plan for its Ada Tepe gold mine in Bulgaria.
Total Proven and Probable Mineral Reserves of 4.26 million tonnes (“Mt”) at 4.8 grams per tonne (“g/t”) of gold and 3.0 g/t of silver for 658 thousand ounces of gold and 414 thousand ounces (“K oz.”) of silver, respectively;
Optimized LOM plan with a higher grade and recovered gold ounce profile, compared to the original 2014 LOM plan;
Improved estimate based on detailed reconciliation data; and
Supports previously issued 2020 guidance and three-year outlook for Ada Tepe.
“We are very pleased with the updated Mineral Reserves and the optimized mine plan for Ada Tepe,” said David Rae, President and CEO. “We are proud of our operating team at Ada Tepe, which has continued to exceed our expectations since the start of operations last year. The optimized mine plan further supports Ada Tepe’s potential to drive strong operating results within our portfolio.”
Updated Mineral Resource and Mineral Reserves Estimate
The Mineral Resource and Mineral Reserve update for the Ada Tepe mine was initiated to account for detailed reconciliation studies conducted since the start-up of operations, grade control drilling, and mining depletion to July 31, 2020.
The Mineral Reserves statement is shown below and is effective as of July 31, 2020.
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