RE:RE:News Release 07:23 AM EST, 02/26/2024 (MT Newswires) -- Dundee Precious Metals (DPM.TO), which rose near 2.5% Friday, on Monday reported new assay results from its ongoing infill drilling program at Coka Rakita in eastern Serbia, where DPM recently announced an Inferred mineral resource estimate of 1.8 million ounces of gold. It also reported results from the scout drilling program at the Dumitru Potok and Frasen prospects, which are located on the Coka Rakita licence and are approximately 1.0 to 1.5 kilometres north of the Coka Rakita deposit.
Among highlights, a statement cited Infill drill results include 81 metres at 50.57 g/t Au and 0.15% Cu; and Scout drill results include 26 metres at 3.54% Cu and 3.03 g/t Au.
On next steps, DPM said it is "on track" to complete a preliminary economic assessment for Coka Rakita in the second quarter of 2024 and continues to advance activities aimed at accelerating the project, including geotechnical and hydrogeological drilling, the next phase of the metallurgical testwork program, the evaluation of locations for potential site infrastructure, and stakeholder engagement activities. DPM added it is also "aggressively" pursuing additional potential skarn targets through its scout drilling campaigns within the Coka Rakita licence, on the new Potaj Cuka and Pester Jug licences, and on the Umka licence. In 2024, DPM has budgeted between $20 million and $22 million for exploration activities in Serbia.