Ann: Maiden drilling program on Vuzel Gold Project completed, page-44

SOFIA (Bulgaria), April 5 (SeeNews) - Canada's Dundee Precious Metals (DPM) said that it extended the life of its Chelopech mine in Bulgaria and updated the mineral resource and mineral reserve estimates for the project."Proven and probable mineral reserves of 1.7 million ounces (Moz) of gold and 341.9 million pounds (Mlbs) of copper support a mine life that now extends to 2030," DPM said in a statement last week.In 2021, DPM successfully added 3.0 million tonnes (Mt) to the mineral reserves, which more than offset the 2021 production depletion of 2.2 Mt for a net addition of 0.8 Mt, DPM noted in its statement.The updated life of mine plan reflects changes, relative to the previous mine plan, that includes improved metallurgical recoveries, concentrate terms, and a reduction in the cut-off value, which maximizes net present value. "Production increased by approximately 286,000 oz. of gold and 47 Mlbs. of copper between 2022 and 2030, reflecting higher recoveries for gold and copper," the company also said.DPM reported strong measured and indicated mineral resource base at the Chelopech mine. The company said that 1.26 Moz. of gold and 270 Mlbs. of copper add further potential to extend mine life. A significant drilling programme at the mine is planned for 2022, including 44,000 m of in-mine drilling and 50,000 m of brownfield drilling, DPM also said.Updated mineral resource and mineral reserve estimates for DPM’s other mine in Bulgaria, Ada Tepe, are scheduled to be completed in the second half of 2022. The respective estimates for the Timok gold project in Serbia and the Loma Larga gold project in Ecuador remain unchanged, the company said.