Dundee Precious Metals Provides Update on the ?oka Rakita Project
Today, Dundee Precious Metals Inc. (TSX: DPM) announced important updates regarding the ?oka Rakita project. The company's latest report confirms that the pre-feasibility study (PFS) is set for completion in early 2025, indicating a positive trajectory for the project's growth. Additionally, new assay results have emerged from a recently completed extensive drilling program.
Highlights from the Latest Drilling Program
The completion of the PFS infill drilling program has yielded results that confirm the continuity of high-grade mineralization within the established Mineral Resource outline. Some notable drilling results include:
- RIDD055 – 74 meters at 27.3 g/t Au starting from 426 meters downhole, including 37 meters at 47.44 g/t Au and a copper grade of 0.11% starting from 460 meters.
- RIDD057 – 83 meters at 3.90 g/t Au and 0.24% Cu starting from 385 meters.
- RIDD060 – 71 meters at 3.39 g/t Au, including 7 meters at 10.71 g/t Au from 473 meters downhole.
- RIDD069 – 67 meters at 10.61 g/t Au and 0.23% Cu starting from 387 meters.
- RIDD078A – 42 meters at 11.13 g/t Au and 0.18% Cu starting from 263 meters.
Project Development and Future Prospects
DPM is making steady progress on the ?oka Rakita project, with the first production of concentrate anticipated in 2028. The pre-feasibility study is moving forward as planned and is on schedule to finish in the first quarter of 2025.
As part of its ongoing development efforts, DPM is updating its Mineral Resource Estimate (MRE) and has successfully wrapped up all necessary trade-off studies. The company is also close to completing its geotechnical drilling program, which plays a key role in the PFS design and cost estimates. Early metallurgical tests indicate a robust gold recovery rate of approximately 90% through gravity concentration techniques.
Regulatory Steps and Environmental Considerations
Simultaneously, the company is advancing its permitting efforts. The baseline environmental monitoring studies required for assessments are planned for submission in early 2026. Comprehensive project timelines are being developed to ensure construction begins by mid-2026.
Since 2004, DPM has established a strong local presence in Serbia, building meaningful relationships that will foster stakeholder engagement as the project unfolds.
Detailed Results of Infill Drilling
The PFS infill drilling program's goal was to enhance the existing Mineral Resource estimate, upgrading it to the Indicated category. Overall, 30,900 meters were drilled, with new results from 68 drill holes recorded since the last update.
This drilling ensures that hole spacing is approximately 30 meters by 30 meters for comprehensive coverage of the deposit footprint, with some areas tightening to an impressive 20 meters by 20 meters where high-grade cores are located. The drill results consistently show wide intervals of significant gold mineralization.
As drilling continues to provide valuable data for DPM’s understanding of the deposit, additional near-resource extension drilling is also being carried out. This phase aims to assess structural controls on mineralization and evaluate the potential for deposits that may extend in various directions.
Quality Assurance in Sampling and Reporting
Dundee Precious Metals follows a strict quality assurance program throughout the exploration phase. They employ a meticulous sampling process that utilizes advanced screen metallic assays due to the historical presence of coarse gold at ?oka Rakita. To ensure reliable material recovery, all drill cores are longitudinally cut, and samples are ideally categorized into one-meter intervals. Their quality control framework includes certified reference materials and thorough laboratory processes overseen by SGS.
About Dundee Precious Metals
Dundee Precious Metals Inc. is a leading Canadian international gold mining company with operations in Bulgaria, Serbia, and Ecuador. The firm highlights its commitment to unlocking valuable resources while maintaining ethical principles that guide its business practices.
Frequently Asked Questions
1. What is the ?oka Rakita project?
The ?oka Rakita project is a gold mining initiative managed by Dundee Precious Metals in Serbia, aiming to start production of concentrate in 2028.
2. How significant are the recent drilling results?
These recent drilling results show the existence of high-grade gold mineralization, which reinforces the project's economic potential.
3. When is the pre-feasibility study expected to be completed?
The PFS is expected to be completed in the first quarter of 2025.
4. What recovery methods does DPM employ for minerals?
DPM utilizes gravity concentration methods alongside conventional flotation techniques, achieving around 90% gold recovery.
5. How does DPM maintain quality control in its sampling process?
The company has implemented stringent sampling standards, including laboratory screen metallic assays, ensuring accuracy through strict quality assurance processes.
