Dundee Precious Metals drills 16.56 g/t gold over 7 metres at Coka Rakita, Serbia
Dundee Precious Metals Inc. [DPM-TSX] reported new assay results from its continuing drilling program at the Coka Rakita prospect in eastern Serbia, which extended the deposit by 100 metres to the south and further extended and confirmed the core high-grade zone. Additionally, the company is providing an update on its aggressive scout drilling program on the Coka Rakita licence.
New significant intercepts from the current phase of drilling include drill hole RIDD011A that returned 7 metres at 16.56 g/t gold and 0.16% copper from 403 metres depth and 42 metres at 6.51 g/t gold and 0.13% copper from 418 metres depth (including 12 metres at 17.89 g/t gold and 0.17% copper from 422 metres depth).
RIDD014 returned 16 metres at 1.93 g/t Au from 538 metres depth and 23 metres at 8.47 g/t Au from 587 metres depth (including 8 metres at 16.15 g/t Au from same depth). RIDD016 returned 35 metres at 5.26 g/t Au and 0.26% Cu from 398 metres depth and 26 metres at 1.05 g/t Au and 0.48% Cu from 439 metres depth.
RIDD018 returned 29 metres at 5.15 g/t Au and 0.14% Cu from 428 metres depth (including 10 metres at 11.88 g/t Au and 0.13% Cu from 441 metres depth) and 33 metres at 2.61 g/t Au and 0.45% Cu from 463 metres depth.
RIDD020 returned 34 metres at 9.55 g/t Au from 482 metres depth. RIDD026 returned 5 metres at 31.93 g/t Au from 386 metres depth.
RADD039 returned 5 metres at 1.64 g/t Au and 0.2% Cu from 560 metres depth and 34 metres at 7.37 g/t Au and 0.28% Cu from 586 metres depth (including 5 metres at 25.35 g/t Au and 0.38% Cu from 604 metres depth)
Deposit extended to the south: Four holes (RIDD014, RIDD014A, RIDD025 and RIDD026) extended the previously known extents of mineralization by approximately 100 metres to the south where the system remains locally open.
Results confirm and extend high-grade core of mineralization: Holes RIDD018 and RIDD020 reported wide mineralized sandstone-hosted intervals and also extended the limits of high-grade mineralization by approximately 60 metres to the west and to the south from the hole RIDD008 (which included the previously released intercept of 71 metres at 18.05 g/t gold from 445 metres depth) and confirmed the overall thickness of the target of over 100 metres within the core of the system.
Scout drilling outlined further extension potential of the deposit with multiple targets currently being tested: Drilling intercepted favourable geological indicators on the north-west flank of the system, about 600 metres to the northeast of the current limit of the deposit, as well as 500 metres south of the main Coka Rakita target, which indicate further extension potential.
The company continues to advance its previously announced 40,000-metre infill and extensional drill program to support a maiden mineral resource estimate by year-end 2023. The company is also planning additional scout drilling to test other camp-wide targets near Coka Rakita and continuing its 10,000-metre scout drill program on the Umka licence.
“We continue to be excited by the results from our drilling program at the high-quality Coka Rakita deposit in Serbia, with the most recent results extending the deposit to the south as well as continuing to extend and confirm the high-grade zone,” said David Rae, President and CEO. “We continue to view Coka Rakita as a promising prospect within our organic portfolio and we are aggressively drilling to further grow the deposit and test other nearby targets that share the same geological environment.”
The company has continued its accelerated drilling program at Coka Rakita, with 10 drill rigs currently in operation. Since the previous update on April 10, 2023, DPM has drilled an additional 23,000 metres, completing 37 holes with another 10 drill holes currently in progress. Results from the 37 new holes are disclosed in the following table.
DPM commenced an aggressive scout drilling program to test for undercover continuation of S1 sandstone skarn mineralization as well as deeper-seated marble-hosted copper-gold targets in the Coka Rakita and adjacent Umka licences.
The company is continuing its intensive 40,000-metre infill, extensional and target delineation drill program at Coka Rakita, with the objective of further assessing the overall deposit geometry, grade continuity and mineral resource potential.
The Coka Rakita prospect is located 3 km southeast of the Bigar Hill sediment-hosted gold deposit and forms part of the of the Timok Magmatic Complex (TMC) in eastern Serbia.
Dundee Precious Metals has operations and projects in Bulgaria, Namibia, Ecuador and Serbia.