Dundee Precious Metals Announces Significant Additional Drill Results from Čoka Rakita Extending Deposit to the East and Confirming High Grade Zone; Results include Drill Intercept of 71 metres at 18.05 g/t Au

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TORONTO, April 10, 2023 (GLOBE NEWSWIRE) — Dundee Treasured Metals Inc. (TSX: DPM) (“DPM” or “the Firm”) in the present day reported new assay outcomes from its ongoing drilling program on the Čoka Rakita prospect in japanese Serbia, which extends the deposit to the east and in addition confirms and extends the high-grade zone. The Firm additionally offered an replace on its deliberate drilling actions for 2023.

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Highlights

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“Outcomes from our ongoing drilling actions at Čoka Rakita prolong the mineralization to the east and make sure the continuity of the high-grade zone. With seven drill rigs at the moment energetic on-site and over 40,000 metres of drilling deliberate for 2023, we’re concentrating on an preliminary useful resource estimate by year-end and accelerating our analysis of this prospect,” mentioned David Rae, President and Chief Govt Officer of Dundee Treasured Metals.

“We’re additionally increasing our exploration actions to incorporate 10,000 metres of scout drilling on the Umka prospect, and we’re following up on different targets which share an analogous geological setting to Čoka Rakita.”

Čoka Rakita Drilling Program Outcomes

Subsequent to its January 2023 information launch asserting the high-grade discovery at Čoka Rakita, drilling actions have been accelerated with seven drill rigs at the moment in operation. DPM has drilled an extra 9,000 metres, finishing 9 holes with one other seven drill holes at the moment in progress (see Desk 1).

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The outcomes from 5 new holes (RIDD005 to RIDD009), in addition to deeper sections of RID001 and RIDD002 for which accomplished assays have been obtained, are disclosed within the following desk.

Desk 1: Important new drill intercepts from the Čoka Rakita prospect

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1)  Coordinates are in UTM Zone 34 North WGS84 datum.

2)  Intervals are reported at a cut-off grade of 1 g/t AuEq utilizing 5 metres minimal size and 5 metres most inner dilution. Larger grade ‘Together with’ intervals are reported at a cut-off grade of 5 g/t AuEq utilizing 5 metres minimal size and three metres dilution.

3)  The AuEq calculation is predicated on the next components: Au g/t + 1.35 x Cu %, based mostly on a gold worth of $1,400/oz and a copper worth of $2.75/lb; and assumes metallurgical recoveries of 90% for gold and 90% for copper throughout the equivalency calculation.

4)  No higher cuts have been utilized.

5)  Primarily based on the present understanding of the geometry of the mineralized physique, true widths are thought of to be 90% or extra of the reported downhole interval.

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The brand new outcomes verify the tenor of the high-grade gold mineralization and, based mostly on preliminary interpretation, present a core zone of higher-grade mineralization over an space of roughly 160 metres by 130 metres. This space is offered as a zone of sturdy retrograde skarn alteration, usually with seen gold.

RIDD006 confirmed the upper grades seen in RIDD004, which is roughly 60 metres to the south. This intercept, when seen on part with RADD020 and RIDD001, means that mineralization might observe an approximate north-south axis, managed by the proximity of the monzonite contact and probably by sub-parallel trending feeder constructions. Future infill drilling will likely be used to check these assumptions.

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RIDD007 returned a large and well-developed zone of mineralization comprised of semi-massive skarn bearing magnetite, pyrrhotite and pyrite and extends the beforehand outlined limits of the mineralization by roughly 120 metres east from RIDD008 (see Figures 1 and three). A number of follow-up holes are ongoing with a view to decide the extents of mineralization on this flank.

RIDD008 intercepted the goal 60 metres south the beforehand reported RADDMET01 (see Determine 1 and a pair of) and returned a sequence of great intercepts of sandstone-hosted gold skarn mineralization over a wider interval, which is bigger than 100 metres in whole thickness. This intercept will increase the thickness of the goal zone on this space and demonstrates that the S1 Sandstone can host skarn mineralization at appreciable distance away from the syn-mineral diorite intrusives.

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RIDD009 returned weakly developed sandstone hosted gold mineralization, however at higher depth (on the footwall of the syn-mineral diorite) intercepted important skarn alteration inside conglomerates and marbles (see Figures 1 and a pair of). The mineralization fashion on this space differs from that discovered at greater elevations, displaying a stratabound iron-oxide (magnetite-hematite) copper (gold) skarn assemblage, with notable intercepts of 14 metres at 0.69% Cu and 1.28 g/t Au from 885 metres and 12.5 metres at 0.9% Cu and 0.89 g/t Au from 972.5 metres downhole. The presence of this deeper copper-dominated goal can also be supported by the newly reported deeper intercepts from RIDD001 (7 metres at 0.71% Cu and 1.07 g/t Au from 885 metres depth downhole), RIDD002 (12 metres at 0.65% Cu and a pair of.67 g/t Au from 907 metres depth downhole) and RIDD008 (11 metres at 0.32 g/t Au and 0.65% Cu from 639 metres depth downhole).

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Subsequent Steps

The Firm is continuous its intensive 40,000-metre infill, extensional and goal delineation drill program at Čoka Rakita, with the target of additional assessing the general deposit geometry, grade continuity and mineral useful resource potential. This contains infilling the present footprint on a 60-metre by 60-metre drilling grid over the high-grade gold-rich skarn goal zone, in addition to nearer spaced drilling (all the way down to 20-metre x 20-metre) to evaluate the short-range continuity of the mineralization. Primarily based on interpretation of drilling assay outcomes, the technique can even incorporate deeper drilling to delineate the extents of strata-bound conglomerate and marble-hosted copper-gold mineralization positioned at depth. DPM is concentrating on an preliminary mineral useful resource estimate for the undertaking by the tip of 2023.

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In gentle of the Čoka Rakita discovery and based mostly on the outcomes of a current floor gravity survey, in addition to a re-interpretation of accessible geological and geochemical information, DPM accomplished a concentrating on train in the course of the first quarter of 2023 which recognized a sequence of extra exploration targets. The Firm has outlined a scout drilling program, concentrating on each the extensions of Čoka Rakita-like sandstone-hosted gold-skarn targets, in addition to deeper conglomerate and marble-hosted strata-bound copper (gold) targets, just lately detected at depth. This contains an extra 10,000 metres of scout drilling on the adjoining Umka exploration licence, which is positioned roughly 5 kilometres to the south of Čoka Rakita. Drilling at Umka is anticipated to start out later in April with drilling on extra targets probably later in 2023 (see Determine 5).

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As beforehand disclosed, preliminary metallurgical take a look at outcomes point out that the mineralized materials at Čoka Rakita is amenable to standard flotation and produces a clear gold focus, attaining a complete mixed (flotation and tails leach) gold recoveries higher than 93%. Within the second quarter of 2023, the Firm plans to start extra metallurgical take a look at work to enhance total gold restoration utilizing a mixed gravity and flotation circuit, in addition to to evaluate the geometallurgical variability and take a look at extra copper (gold) skarns recognized at depth.

About Čoka Rakita

The Čoka Rakita prospect is positioned three kilometres southeast of the Bigar Hill sediment-hosted gold deposit and types a part of the of the Timok Magmatic Complicated (TMC) in japanese Serbia. The floor footprint of the goal was delineated by a mix of soil geochemistry, alteration mapping and geophysical signatures. The drilling to this point has outlined a manto-like zone of shallow-dipping gold-rich skarn mineralization positioned on the contact zone of a carbonaceous sedimentary package deal and fertile diorite intrusives.

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Determine 1. Up to date tilted slice alongside high-grade skarn mineralization displaying new drilling intercepts and the continuing infill drilling at Čoka Rakita is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe428434-6ba8-4bb5-915c-6bb2daf1f8d4 

Determine 2. Up to date long-section by Čoka Rakita displaying new drilling intercepts, geology and exploration targets is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/ea96f2dc-1321-4e31-9d65-ccf66749a43c 

Determine 3. Cross-section by Čoka Rakita alongside RIDD007 and RIDD008 trying north displaying drilling intercepts, geology and exploration targets is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/9f96dfc7-3779-48c8-b219-4298b219a254 

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The following Figures 4 and 5 (under) define the up to date camp-wide scout drilling concentrating on technique and integrates numerous geological, geophysical, and geochemical constraints which were used to outline exploration targets.

Elements thought of for goal technology embody:

Determine 4. Overview map of Čoka Rakita exploration licence outlining the exploration targets topic of the scout drilling marketing campaign is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/96015b84-d7ef-4bd7-ae6e-e2738b918acf

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Determine 5. Overview map of Umka exploration licence outlining the exploration targets topic of the scout drilling marketing campaign is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/da05dc00-9095-475c-ade7-4ddc96f809bb 

Sampling, Evaluation and QAQC of Exploration Drill Core Samples

Given the presence of coarse gold at Čoka Rakita, a rigorous sampling and QAQC process has been chosen which incorporates using laboratory display screen metallic assaying.

Most exploration diamond drill holes are collared with PQ dimension, continued with HQ, and are typically completed with NQ. Triple tube core barrels and quick runs are used every time doable to enhance restoration. All drill core is reduce lengthwise into two halves utilizing a diamond noticed; one half is sampled for assaying and the opposite half is retained in core trays. The widespread size for pattern intervals inside mineralized zones is one metre. Weights of drill core samples vary from three to eight kilograms (“kg”), relying on the scale of core, rock sort, and restoration. A numbered tag is positioned into every pattern bag, and the samples are grouped into batches for laboratory submissions.

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Drill core samples are shipped to the Firm’s personal exploration laboratory in Bor, Serbia, which is independently managed by SGS. High quality management samples, comprising licensed reference supplies, blanks, and discipline duplicates, are inserted into every batch of samples and places for crushed duplicates and pulp replicates are specified. All drill core and high quality management samples are tabulated on pattern submission types that specify pattern preparation procedures and codes for analytical strategies. For inner high quality management, the laboratory contains its personal high quality management samples comprising licensed reference supplies, blanks and pulp duplicates. All QAQC monitoring information are reviewed and signed off by an impartial QAQC geologist. Chain of custody data are maintained from pattern shipments to the laboratory till analyses are accomplished and remaining pattern supplies are returned to the Firm. The chain of custody is transferred from the Firm to SGS on the laboratory door.

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On the SGS Bor laboratory, the submitted drill core samples are dried at 105°C for at least 12 hours, after which jaw crushed to about 80% passing 4 millimetres. Pattern preparation duplicates are created by riffle splitting crushed samples on a 1 in 20 foundation. Bigger samples are riffle break up previous to pulverizing, whereas smaller samples are pulverized fully. Pulverizing specs are 90% passing 75 microns. Gold analyses are completed utilizing a traditional 50-gram fireplace assay and AAS end. Multi-element analyses for 49 parts, together with Ag, Cu, Mo, As, Bi, Pb, Sb, and Zn, are completed utilizing a four-acid digestion and an ICP-MS end. Samples returning over 10 ppm for Ag and 1% for Cu, Pb and Zn are re-analyzed utilizing excessive grade strategies with AAS. Sulphur is analyzed utilizing an Eltra Analyzer geared up with an induction furnace.

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All fireplace assay outcomes obtained from SGS Bor with outcomes exceeding 1 g/t gold grade are re-assayed via a particularly designed gold display screen fireplace assay program on the ALS International laboratory positioned in Romania. For re-analyses, 1 kg of two mm sized coarse reject materials break up, which is pulverized and screened at 106 microns to separate the pattern into a rough fraction (>106μm) and a advantageous fraction (<106μm). After screening, two 50-gram aliquots of the advantageous fraction are analyzed utilizing the normal fireplace assay methodology and AAS end. The complete coarse fraction is assayed to find out the contribution of the coarse gold utilizing fireplace assay and gravimetric end. A “whole” gold calculation for the 1kg pattern is predicated on the weighted common of the coarse and advantageous fractions.

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Ross Total, Company Mineral Useful resource Supervisor of the Firm, who’s a Certified Particular person as outlined underneath NI 43-101, and Paul Ivascanu, Director Exploration of the Firm, have reviewed, and accredited the scientific and technical content material of this information launch.

About Dundee Treasured Metals

Dundee Treasured Metals Inc. is a Canadian-based worldwide gold mining firm with operations and initiatives positioned in Bulgaria, Namibia, Ecuador and Serbia. The Firm’s function is to unlock sources and generate worth to thrive and develop collectively. This total function is supported by a basis of core values, which guides how the Firm conducts its enterprise and informs a set of complementary strategic pillars and aims associated to ESG, innovation, optimizing our current portfolio, and development. The Firm’s sources are allotted in-line with its technique to make sure that DPM delivers worth for all of its stakeholders. DPM’s shares are traded on the Toronto Inventory Alternate (image: DPM).

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Cautionary Word Concerning Ahead-Wanting Statements

This information launch comprises “ahead trying statements” or “ahead trying data” (collectively, “Ahead Wanting Statements”) that contain a variety of dangers and uncertainties. Ahead Wanting Statements are statements that aren’t historic info and are usually, however not all the time, recognized by way of ahead trying terminology equivalent to “plans”, “expects”, “is anticipated”, “funds”, “scheduled”, “estimates”, “forecasts”, “outlook”, “intends”, “anticipates”, “believes”, or variations of such phrases and phrases or that state that sure actions, occasions or outcomes “might”, “might”, “would”, “may” or “will” be taken, happen or be achieved, or the damaging of any of those phrases or comparable expressions. The Ahead Wanting Statements on this information launch relate to, amongst different issues: future exploration potential at Čoka Rakita; the geology and metallurgy at Čoka Rakita; the way forward for the Timok Gold Mission; the value of commodities; the estimation of Mineral Reserves and Mineral Sources and the belief of such mineral estimates; and success of exploration actions. Ahead Wanting Statements are based mostly on sure key assumptions and the opinions and estimates of administration and the Certified Individuals, as of the date such statements are made, they usually contain identified and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially totally different from some other future outcomes, efficiency or achievements expressed or implied by the Ahead Wanting Statements. Along with components already mentioned on this information launch, such components embody, amongst others, dangers referring to the Firm’s enterprise usually and the affect of COVID-19, together with, modifications to the Firm’s provide chain; product shortages; supply and delivery points; closures and/or failure of plant, tools or processes to function as anticipated; workers and contractors turning into contaminated with COVID-19; misplaced work hours; labour pressure shortages; fluctuations in metallic and acid costs, toll charges and international alternate charges; doable variations in ore grade and restoration charges; uncertainties inherent to the conclusions of financial evaluations and financial research; modifications in undertaking parameters, together with schedule and funds, as plans proceed to be refined; uncertainties with respect to precise outcomes of present exploration actions; uncertainties and dangers inherent to creating and commissioning new mines into manufacturing, which can be topic to unexpected delays; uncertainties inherent with conducting enterprise in international jurisdictions the place corruption, civil unrest, political instability and uncertainties with the rule of legislation might affect the Firm’s actions; limitation on insurance coverage protection; accidents, labour disputes and different dangers of the mining trade; delays in acquiring governmental approvals or financing or within the completion of growth or development actions; precise outcomes of present and deliberate reclamation actions; opposition by social and non-government organizations to mining initiatives and smelting operations; unanticipated title disputes; claims or litigation; cyber assaults and different cybersecurity dangers; in addition to these danger components mentioned or referred to in some other paperwork (together with with out limitation the Firm’s most up-to-date Annual Data Type) filed now and again with the securities regulatory authorities in all provinces and territories of Canada and accessible on SEDAR at www.sedar.com. The reader has been cautioned that the foregoing listing shouldn’t be exhaustive of all components which can have been used. Though the Firm has tried to establish vital components that would trigger precise actions, occasions or outcomes to vary materially from these described in Ahead Wanting Statements, there could also be different components that trigger actions, occasions or outcomes to not be anticipated, estimated or meant. There might be no assurance that Ahead Wanting Statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. The Firm’s Ahead Wanting Statements mirror present expectations relating to future occasions and communicate solely as of the date hereof. Except required by securities legal guidelines, the Firm undertakes no obligation to replace Ahead Wanting Statements if circumstances or administration’s estimates or opinions ought to change. Accordingly, readers are cautioned to not place undue reliance on Ahead Wanting Statements.

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¹ For extra data relating to beforehand disclosed outcomes from Čoka Rakita, please seek advice from the information launch dated January 16, 2023, accessible on our web site at www.dundeeprecious.com.