DPM Announces 2011 Deno Gold Open Pit Project and Underground Exploration Drilling Results
Published : February 16, 2012
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TORONTO, ONTARIO--(Marketwire - Feb. 16, 2012) - Dundee Precious Metals Inc. (News - Market indicators)(TSX:DPM.WT)(TSX:DPM.WT.A) ("DPM" or "the Company") is pleased to announce the 2011 exploration and development drill results with the uncovering of "Shahumyan East", a newly discovered "blind" domain of polymetallic (Au-Ag-Cu-Zn) mineralization, in multiple sub-parallel zones, similar to that seen at the Shahumyan Mine, Kapan, Armenia, which is 100% owned by the Company's subsidiary, Deno Gold Mining Company ("Deno Gold").

Surface Drill Results
Hole SHDDR0175 returns 11m @ 8.53g/t AuEq (5.19g/t Au, 79.77g/t Ag, 0.78% Cu, 0.82% Zn) from 79m
Hole SHDDR0187 returns 29m @ 2.77g/t AuEq (1.05g/t Au, 43.65g/t Ag, 0.11% Cu, 1.21% Zn) from 307m
Hole SHDDR0210 returns 23m @ 2.07g/t AuEq (0.54g/t Au, 29.56g/t Ag, 0.42% Cu, 0.46% Zn) from 350m
Hole SHDDR0219 returns 9m @ 3.58g/t AuEq (2.03g/t Au, 23.23g/t Ag, 0.57% Cu, 0.27% Zn) from 292m
Underground Drill Results
Hole NXC02748_02 returns 31m @ 4.55g/t AuEq (3.40g/t Au, 26.49g/t Ag, 0.25% Cu, 0.38% Zn) from 62m

"We are encouraged by the positive results of both our surface and underground drill programs," said Jonathan Goodman, CEO of DPM. "The success of the programs so far confirms our belief that the full extents of the Shahumyan deposit have yet to be fully defined, both in terms of depth and lateral extents to the south and east. Our strategy to fully explore the immediate Shahumyan deposit and to extend the current life of the existing underground operations while we evaluate a potential expansion with an open pit operation is on track."

Deno Gold currently owns and operates an underground polymetallic (Au-Ag-Cu-Zn) mine and mill complex and surrounding exploration license in southern Armenia which was acquired by DPM in 2006. The Kapan Exploration License covers approximately 350 km2 and excludes existing populated areas, mine concessions and related infrastructure. The mining concession is encapsulated within the exploration license and consists of the Shahumyan mine and mill concession (2.55km2). The Kapan Exploration License extends from the town of Kapan along a northwest trending valley and covers an area of Jurassic-age intermediate volcanics. The Shahumyan underground operation covers the extent of the mining concession with production rates currently at 600,000 tonnes per year. The deposit consists of closely spaced polymetallic (Au-Ag-Cu-Zn) veins and veinlets displaying a broadly east-west strike and steep (70 - 85º) dip to the north or south.

Since 2006, DPM's exploration growth strategy for Armenia has been based on four key components:

  • The Shahumyan Open Pit Project, which recognizes the possibility of delineating a large open pittable Mineral Resource over the currently operating Shahumyan underground mine 'footprint'; 
  • Advancing the underground Mineral Resource and Mineral Reserve base, in order to extend the life of the current underground mine; 
  • Methodically explore the +350 square kilometre Kapan Exploration License to define additional Mineral Resources; and
  • Project evaluation work in Armenia as our understanding of the area increases.

All four components are now being realized with the ramp-up of activities in 2011.

The Open Pit drill program commenced in July 2007 with 53,238 metres of reverse circulation ("RC") and Diamond drilling completed before it was shutdown in October 2008 due to the global financial crisis. Drilling then recommenced in December 2010 and a total of 55,333 metres were drilled in 2011 on a 160 x 160 metre grid over the Shahumyan mine 'footprint', covering an area of 2.5 kilometres x 1.0 kilometres using three DPM-owned Sandvik UDR200D LS Diamond drill rigs. Infill drilling then commenced in the central and southern portions of the deposit as these areas were identified by pit optimization studies as potential "starter pits". 

Underground exploration below the 700 level of the Shahumyan underground mine commenced in September, 2011 for a total of 2,397 metres with an Atlas Copco Diamec underground Diamond drill rig shipped from DPM's Chelopech mine in Bulgaria. The SGS-managed Kapan Laboratory was re-established in 2011 in order to accommodate the large volumes of samples produced by the concurrent drilling programs. 

Exploration activities on the Kapan Exploration License included completion of regional mapping, re-evaluation of the 2008 helicopter-borne magnetic and electromagnetic data and analysis of regional soil sample assay data which have defined 'drill ready' targets for 2012. 

Assay results from the Open Pit Project and underground drilling programs have returned multiple, wide (up to 30 metres) polymetallic zones of potentially open pittable mineralization (refer to Tables 1, 2 and 3 for all significant intercepts). The mineralized zones comprise narrow (0.5 - 5 metre) high-grade quartz veins, similar to those being mined underground, which are surrounded by broader disseminated mineralization.

Drilling carried out as part of the Open Pit drilling program intersected the "Shahumyan East" domain, located 50 to 160 metres beneath barren cover lithologies, east of the Shahumyan East Fault. Limited drilling (4 drill holes) in the 1960's intersected minor mineralization and an attempt was made to develop a vein designated Vein 23, but with little success. Drill holes in some areas were also too shallow and often failed to pass through the barren cover sequence. Twinning of 'historical' drill holes indicates that selective sampling missed disseminated and high-grade zones of mineralization, leading previous explorers to downgrade the potential for the area to host significant mineralization.

Based on a current drill spacing of 160 x 160 metres (and some infill drilling at 80 x 80 metres), "Shahumyan East" covers an area of approximately 1.5 x 0.5 kilometres with mineralization open to the south and east (see Figure 1). The vein sets and surrounding mineralized halos are steeply dipping to the south, orientated east-west with a strike length of some 500 metres and depth of at least 300 metres from the 750 - 450 mine levels (Figure 2). A total of 20 holes have returned potentially economic grades and widths for either open pit or underground operations (refer to Figure 1 and Table 2). A further 16 Diamond drill holes have pending assay results while 15 infill holes (as part of a 80 x 80 metre infill drilling program) are planned for this area. 

DPM intends to systematically drill test the "Shahumyan East" domain as part of the definition of the extents of the Shahumyan Deposit. The Company has the equipment and resources to put into production a further three ROCKDRILL5000 RC drill rigs which will be used for infill drilling. Drilling planned for 2012 comprises 87,700 metres of Diamond drilling and up to 30,000 metres of RC drilling.


Initial HQ Diamond drilling within the Open Pit Project 'footprint' and east of the current Shahumyan mine has returned multiple intercepts of potentially mineable medium to high-grade polymetallic mineralization with selected intercepts shown below (based on a 0.5g/t gold-equivalent cut-off grade):


  • 8m @ 0.75g/t AuEq (0.25g/t Au, 4.01g/t Ag, 0.06% Cu, 0.59% Zn), from 312m 
  • 3m @ 1.30g/t AuEq (0.2g/t Au, 16.9g/t Ag, 0.06% Cu, 1.23% Zn), from 363m 
  • 11m @ 4.37g/t AuEq (2.08g/t Au, 52.45g/t Ag, 0.4% Cu, 1.07% Zn), from 435m
    • Including 2m @ 19.62g/t AuEq (8.88g/t Au, 252g/t Ag, 2.05% Cu, 4.24% Zn), from 442m


  • 15m @ 4.14g/t AuEq (3.85g/t Au, 9.73g/t Ag, 0.03% Cu, 0.09% Zn), from 228m 
  • 14m @ 1.40g/t AuEq (0.23g/t Au, 17.22g/t Ag, 0.16% Cu, 1.02% Zn), from 365m


  • 9m @ 0.95g/t AuEq (0.41g/t Au, 16.68g/t Ag, 0.04% Cu, 0.26% Zn), from 193m 
  • 4m@ 1.09g/t AuEq (0.23g/t Au, 6.47g/t Ag, 0.06% Cu, 1.15% Zn), from 271m 
  • 7m@ 0.85g/t AuEq (0.31g/t Au, 6.61g/t Ag, 0.02% Cu, 0.69% Zn), from 328m 
  • 21m@ 1.24g/t AuEq (0.21g/t Au, 8.13g/t Ag, 0.06% Cu, 1.41% Zn), from 388m


  • 29m @ 2.77g/t AuEq (1.05g/t Au, 43.65g/t Ag, 0.11% Cu, 1.21% Zn), from 307m


  • 13m @ 0.65 g/t AuEq (0.16g/t Au, 4.35g/t Ag, 0.05% Cu, 0.57% Zn), from 220m 
  • 4m @ 10.52g/t AuEq (7.42g/t Au, 75.7g/t Ag, 0.72% Cu, 0.76% Zn), from 296m 
  • 10m @ 0.87g/t AuEq (0.62g/t Au, 5.14g/t Ag, 0.03% Cu, 0.17% Zn), from 342m 
  • 7m @ 0.83g/tAuEq (0.23g/t Au, 3.26g/t Ag, 0.05% Cu, 0.81% Zn), from 377m 
  • 5m @ 0.63g/t AuEq (0.18g/t Au, 7.08g/t Ag, 0.04% Cu, 0.44% Zn), from 388m


  • 10m @ 1.39g/t AuEq (0.33g/t Au, 6.77g/t Ag, 0.15% Cu, 1.23% Zn), from 199m

Open Pit Project


  • 9m @ 0.65g/t AuEq (0.21g/t Au, 2.17g/t Ag, 0.03% Cu, 0.65% Zn), from 98m 
  • 8m @ 2.38g/t AuEq (0.54 g/t Au, 17.56g/t Ag, 0.48% Cu, 1.28% Zn), from 124m 
  • 9m @ 2.01g/t AuEq (1.09g/t Au, 31.5g/t Ag, 0.04% Cu, 0.4% Zn), from 137m 
  • 7m @ 1.13g/t AuEq (0.31g/t Au, 21.5g/t Ag, 0.03% Cu, 0.63% Zn), from 156m


  • 10m @ 1.04g/t AuEq (0.37g/t Au, 8.63g/t Ag, 0.09% Cu, 0.65% Zn), from 103m 
  • 15m @ 1.78g/t AuEq (0.57g/t Au, 15.89g/t Ag, 0.35% Cu, 0.59% Zn), from 137m 
  • 3m @ 11.68g/t AuEq (8.46g/t Au, 82.37g/t Ag, 0.62% Cu, 1% Zn), from 222m 
  • 14m @ 1.13g/t AuEq (0.37g/t Au, 9.87g/t Ag, 0.11% Cu, 0.69% Zn), from 265m 
  • 6m @ 1.90g/t AuEq (0.77g/t Au, 29.05g/t Ag, 0.17% Cu, 0.51% Zn), from 285m 
  • 5m @ 0.99g/t AuEq (0.2g/t Au, 3.22g/t Ag, 0.26% Cu, 0.55% Zn), from 309m 
  • 9m @ 1.76g/t AuEq (0.76g/t Au, 10.42g/t Ag, 0.37% Cu, 0.32% Zn), from 318m


  • 9m @ 0.68g/t AuEq (0.19g/t Au, 9.08g/t Ag, 0.03% Cu, 0.47% Zn), from 92m 
  • 10m @ 0.58g/t AuEq (0.13g/t Au, 2.17g/t Ag, 0.03% Cu, 0.66% Zn), from 157m 
  • 18m @ 0.69g/t AuEq (0.22g/t Au, 6.03g/t Ag, 0.05% Cu, 0.5% Zn), from 171m 
  • 12m @ 0.62g/t AuEq (0.2g/t Au, 5.94g/t Ag, 0.1% Cu, 0.26% Zn), from 193m 
  • 19m @ 0.75g/t AuEq (0.18g/t Au, 3.59g/t Ag, 0.14% Cu, 0.49% Zn), from 216m 
  • 23m @ 2.07g/t AuEq (0.54g/t Au, 29.56g/t Ag, 0.42% Cu, 0.46% Zn), from 350m  


  • 22m @ 1.26g/t AuEq (1g/t Au, 2.39g/t Ag, 0.02% Cu, 0.35% Zn), from 44m 
  • 9m @ 0.96g/t AuEq (0.57g/t Au, 8.58g/t Ag, 0.04% Cu, 0.3% Zn), from 100m 
  • 8m @ 0.86g/t AuEq (0.4g/t Au, 7.3g/t Ag, 0.08% Cu, 0.32% Zn), from 160m 
  • 7m @ 0.93g/t AuEq (0.48g/t Au, 13.1g/t Ag, 0.09% Cu, 0.08% Zn), from 206m


  • 8m @ 1.45g/t Au Eq (0.57g/t Au, 13.8g/t Ag, 0.18% Cu, 0.57% Zn), from 146m 
  • 8m @ 0.60g/t Au Eq (0.23g/t Au, 6.58g/t Ag, 0.02% Cu, 0.37% Zn), from 174m 
  • 7m @ 1.57g/t Au Eq (1.03g/t Au, 13.16g/t Ag, 0.05% Cu, 0.36% Zn), from 211m 
  • 15m @ 1.16g/t Au Eq (0.57g/t Au, 8.53g/t Ag, 0.07% Cu, 0.55% Zn), from 237m 
  • 3m @ 4.78g/t AuEq (2.42g/t Au, 27.63g/t Ag, 0.78% Cu, 0.97% Zn), from 266m


  • 19m @ 1.08g/t AuEq (0.56g/t Au, 8.53g/t Ag, 0.08% Cu, 0.4% Zn), from 20m 


  • 10m @ 1.25g/t AuEq (0.46g/t Au, 6.39g/t Ag, 0.19% Cu, 0.66% Zn), from 22m 


  1. In situ gold equivalent (AuEq) grade based on the following 2011 long-term metal prices: Au: US$1250/oz, Ag: US$25/oz, Cu: US$3.00/lb and Zn: US$1.00/lb;
  2. Minimum width reported is 2 metres, with a minimum internal dilution of 4 metres;
  3. Drill Intersections are down hole with true width considered to be 90% of the intersection length;
  4. Drill Intersections represent intercepts into an intermediate-sulphidation vein-breccia epithermal system;
  5. Assays are uncut;
  6. All samples assayed by SGS independently managed laboratory, Kapan, Armenia;
  7. International reference standards and full QAQC samples (duplicates, replicates and blanks) inserted with all exploration drill hole samples;
  8. Holes with an asterix were drilled as part of the 2007 and 2008 drilling campaign;
  9. All significant intercepts are shown in Tables 1 and 2; and
  10. All drill hole data is shown in Table 4.


The first underground exploration target area to be drilled by widely spaced drill holes (80 x 80 metres) defined significant zones of polymetallic mineralization. Drilling from the 748 mine level in the Central Zone tested veins 33, 34 and 37 below the 700 mine level. The drill results have emphasized confidence in the mine with the discovery of new zones of mineralization, the confirmation of existing vein sets and the extension of known vein systems down to the 500 mine level. Underground drilling also defined the continuation of the surrounding low-grade halos intersected in surface drilling (see Figure 3). It is strongly evident that significant mineralization remains undiscovered as selective sampling techniques were used by previous explorers in the underground environment.

Underground drilling is ongoing to define the strike extents of this area. An additional two Boart Longyear LM75 drill rigs have been ordered, with the first expected to be commissioned in March 2012 and the second in July, 2012. These rigs will be used to define the resource base below the 700 mining level in the southern, central and northern zones of the Shahumyan mine with 27,200 metres expected to be drilled in 2012 at a drill spacing of 80 x 80 metres and 40 x 40 metres in selected areas. Underground and surface drilling will be coordinated to ensure that all areas of potential resource expansion are covered.

Underground - Significant Results

Initial BQ Diamond drilling has returned numerous, potentially mineable widths of medium to high-grade mineralization, with selected intervals displayed below (1g/t gold equivalent cut-off grade):


  • 6m @ 1.6g/t AuEq (0.35g/t Au, 8.86g/t Ag, 0.14% Cu, 1.55% Zn), from 36m
  • 2m @ 4.14g/t AuEq (3.59g/t Au, 13.24g/t Ag, 0.15% Cu, 0.08% Zn), from 93m
  • 3m @ 7.10g/t AuEq (3.70g/t Au, 104.37g/t Ag, 0.17% Cu, 1.89% Zn), from 105m
  • 4m @ 6.40g/t AuEq (2.54g/t Au, 33.42g/t Ag, 0.73% Cu, 3.64% Zn), from 241m


  • 31m @ 4.55g/t AuEq (3.40g/t Au, 26.49g/t Ag, 0.25% Cu, 0.38% Zn), from 62m
    • Including 6m @ 5.05g/t AuEq (2.29g/t Au, 43.97g/t Ag, 1.08% Cu, 0.19% Zn), from 69m
    • Including 6m @ 13.09g/t AuEq (11.72g/t Au, 37.61g/t Ag, 0.24% Cu, 0.40% Zn), from 80m
    • Including 4m @ 6.43g/t AuEq (4.67g/t Au, 37.37g/t Ag, 0.14% Cu, 1.43% Zn), from 89m
  • 3m @ 2.28g/t AuEq (1.04g/t Au, 25.37g/t Ag, 0.13% Cu, 0.95% Zn), from 193m
  • 6m @ 1.94g/t AuEq (0.75g/t Au, 21.13g/t Ag, 0.38% Cu, 0.26% Zn), from 254m


  • 9m @ 3.01g/t AuEq (1.13g/t Au, 43.86g/t Ag, 0.11% Cu, 1.48% Zn), from 70m
  • 3m @ 4.52g/t AuEq (1.79g/t Au, 47.67g/t Ag, 0.16% Cu, 2.79% Zn), from 257m


  • 26m @ 1.90g/t AuEq (1.48g/t Au, 0.33g/t Ag, 0.06% Cu, 0.58% Zn), from 10m
    • Including 10m @ 3.72g/t (30.6g/t Au, 0.55g/t Ag, 0.04% Cu, 1.06% Zn), from 26m
  • 2m @ 5.44g/t AuEq (0.48g/t Au, 28.07g/t Ag, 0.46% Cu, 6.66% Zn), from 217m
  • 5m @ 2.01g/t AuEq (0.26g/t Au, 32.34g/t Ag, 0.35% Cu, 0.96% Zn), from 277m


  1. In situ gold equivalent (AuEq) grade based on the following 2011 long-term metal prices: Au: US$1250/oz, Ag: US$25/oz, Cu: US$3.00/lb and Zn: US$1.00/lb;
  2. Minimum width reported is 2 metres, with a minimum internal dilution of 2 metres;
  3. Drill Intersections are down hole with true width considered to be 85% of the intersection length;
  4. Drill Intersections represent intercepts into an intermediate-sulphidation vein-breccia epithermal system;
  5. Assays are uncut;
  6. All samples assayed by SGS independently managed laboratory, Kapan, Armenia;
  7. International reference standards and full QAQC samples (duplicates, replicates and blanks) inserted with all exploration drill hole samples;
  8. All significant intercepts are shown in Table 3; and
  9. All drill hole data is shown in Table 4.


  • A major mineralized corridor, some 1.5 kilometres by 1 kilometre, has been discovered underneath barren cover lithologies by surface drilling. The domain is open to the east and south, and has the potential to add significant value to the current operation and increase confidence in the potential for a major open pit scenario.
  • Review of the geology and drill intersections has confirmed the strong similarity to the style of polymetallic (Au-Ag-Cu-Zn) mineralization currently being mined at the Shahumyan underground operation.
  • Significant low to medium grade mineralization, surrounding known higher grade veins and additional high-grade vein sets have been delineated by DPM drilling. The mineralization was not previously identified by earlier Shahumyan mining operators due to selective sampling, lack of drilling and the ability to drill to depth.
  • The first underground exploration target area to be drilled by widely spaced drill holes has returned significant zones of polymetallic mineralization at widths of up to 32 metres and depth extents below the current mining levels. The results to date are considered to be extremely encouraging as they represent the first systematic underground drilling between the 500 and 700 mining levels and indicate similar epithermal vein style mineralization continues to depth below the current underground mining which is currently at the 700 mining level.
  • After identifying the "Shahumyan East" domain, the exploration and development strategy for the Open Pit Project has been revised with exploration resources added to accomplish both wide spaced (160 x 160 metres) and infill drilling (80 x 80 metres) in 2012 to redefine the project area.

To view Figures 1, 2 and 3 and Tables 1 through 4, please click the following link: http://media3.marketwire.com/docs/dundee_precious_metals_feb16.pdf


The Kapan region lies within the extensive Tethyan orogenic belt, which is part of a collision zone between the Eurasian and Afro-Arabian 'mega-continental' plates. Within the Tethyan Belt, the DPM mining and exploration concession lies within a Jurassic-Cretaceous volcanic arc, dominated by rocks of andesitic and basaltic affinity. These rocks make up the Kapan Volcanic Complex, the majority of which DPM holds within its greater than 350 square kilometre Kapan Exploration Licence in Southern Armenia. Within the concession are the Shahumyan polymetallic (Cu, Au, Ag & Zn) and Centralni Cu (±Zn & Au) deposits. In 2009, the Centralni mining concession was terminated and handed back to the Armenian Government. 

The Shahumyan deposit is classified as a carbonate-base metal gold system (intermediate-sulphide vein-breccia epithermal system). These systems generally occur at higher crustal levels than quartz-sulphide Au±Cu systems and typically contain gangue of carbonate, quartz, pyrite, sphalerite, galena and chalcopyrite as fracture/vein/ breccias. Some of these systems may be overprinted by bonanza epithermal quartz Au, Ag ores and others may be telescoped upon deeper level quartz-sulphide Au±Cu mineralization. Deposits of this style represent some of the more prolific gold producers (Victoria Veins at Lepanto, Acupan, Kidston, Penjom and Kelian)

Approximately 3 kilometres northwest of the Shahumyan deposit is the Centralni deposit which has been extracted by open pit and underground mining methods. The Centralni deposit has an affinity with quartz-sulphide gold±copper deposits, i.e. formed at deeper crustal levels close to porphyry intrusions and comprising dominantly iron sulphides and quartz, mostly as veins and vein/breccias. The quartz-sulphide veins at Centralni deposit correspond to D type veins of porphyry deposits and it is quite possible that the lower levels of the deposit (underground) represent a porphyry style of mineralization, including minerals such as chalcopyrite, bornite, and chalcocite. The host rock is a feldspar porphyritic andesite and within the open pit area the andesite has been overprinted by a high-sulphidation hydraulic fracturing event represented by a matrix dominated by fine grained pyrite and enargite with Au-Ag mineralization.

The Kapan mining district is an area which was dominated by a strong tensional structural regime during the period of mineralization, and this is particularly evident at the Shahumyan deposit. The Centralni deposit is at a higher topographic setting than the Shahumyan deposit, which indicates that post mineral faulting has been active in the region, as the Centralni deposit represents a deeper formed style of mineralization.

In general, the Kapan Volcanic District has produced porphyry-style/quartz-sulphide mineralization, carbonate-base metals vein style and high-sulphidation epithermal mineralization with probable intermediate styles of mineralization located to the immediate west of Centralni. There is little doubt that the Kapan Volcanic Complex, held by DPM, contains the essential components for ore deposit formation. The recognition of post mineral cover and faulting events within the district are particularly encouraging as it would suggest that potential exists for blind discoveries such as "Shahumyan East".


All drill core is sampled in intervals up to a maximum of 3 metres, with 1.0 metre sample intervals most common within the mineralized zones. After transport to the secure core facility, all core is marked up systematically for cutting by Diamond saw. HQ core is cut systematically with care to retain the orientation line. BQ core is sampled whole, while HQ and NQ core is routinely sampled on the right hand side with core samples submitted to the onsite, SGS managed, laboratory facility for assaying. The residual half core is retained in plastic core trays and is stored in a secure facility. Samples are routinely assayed for Cu, Au, Ag, Zn and Pb. All drill core is photographed wet and dry by a semi-automated digital system. Following DPM exploration standard quality control and assurance procedures, a full suite of field and laboratory duplicates and replicates along with internationally accredited standards representing 5% for each sample type, have been submitted with each batch of samples. In addition, SGS submits and reports its own standards, blanks and control samples under the C-Class system.

Sample tickets are entered into the bags with a numbering system, which reconciles sample and assayed results in the Acquire database. The average core recovery within the modelled resource constraints is 96% overall. The weight of a Diamond core sample varies between 2kg and 7kg with an average weight of approximately 3.5kg.

The technical information contained herein has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), and has been reviewed and approved by Dr. Julian Barnes, B.Sc.Hon., PhD (Geology), Technical Consultant, formerly Executive Vice President of DPM, who is a Qualified Person, as defined under NI 43-101, and not independent of the Company.

Dundee Precious Metals Inc. is a well-financed, Canadian based, international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. The Company's principal operating assets include the Chelopech operation, which produces a gold, copper and silver concentrate, located east of Sofia, Bulgaria; the Kapan operation, which produces a gold, copper, zinc and silver concentrate, located in southern Armenia; and the Tsumeb smelter, a concentrate processing facility located in Namibia. DPM also holds interests in a number of developing gold properties located in Bulgaria, Serbia, and northern Canada, including interests held through its 51.4% owned subsidiary, Avala Resources Ltd., its 47.7% interest in Dunav Resources Ltd. and its 11.5% interest in Sabina Gold & Silver Corp.


This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices and other factors described above and in the Company's most recent annual information form under the heading "Risk Factors" which has been filed electronically by means of the Canadian Securities Administrators' website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Dundee Precious Metals Inc.
Jonathan Goodman
President & Chief Executive Officer
(416) 365-2408
Dundee Precious Metals Inc.
Lori Beak
Senior Vice President, Investor & Regulatory Affairs
and Corporate Secretary
(416) 365-5165
Data and Statistics for these countries : Armenia | Bulgaria | Canada | Namibia | Serbia | All
Gold and Silver Prices for these countries : Armenia | Bulgaria | Canada | Namibia | Serbia | All

Dundee Precious Metals Inc

ISIN : CA2652692096
CUSIP : 265269-20-9
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Dundee Precious Metals is a zinc and gold producing company based in Canada.

Dundee Precious Metals produces zinc, gold, copper and silver in Armenia, develops copper, gold and silver in Bulgaria.

Its main asset in production is KAPAN in Armenia, its main assets in development are CHELOPECH and KRUMOVGRAD in Bulgaria and its main exploration property is SURDULICA in Bulgaria.

Dundee Precious Metals is listed in Canada. Its market capitalisation is CA$ 1.4 billions as of today (US$ 1.1 billions, € 947.4 millions).

Its stock quote reached its highest recent level on December 17, 2010 at CA$ 9.99, and its lowest recent point on January 22, 2016 at CA$ 0.84.

Dundee Precious Metals has 178 440 000 shares outstanding.

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Financials of Dundee Precious Metals Inc
10/15/2013NOTICE: DPM 2013 Third Quarter Financial Results
8/1/2013Announces 2013 Second Quarter Results
7/10/2013NOTICE: DPM 2013 Second Quarter Financial Results
5/9/2013Announces 2013 First Quarter Results
4/17/2013NOTICE: DPM 2013 First Quarter Financial Results
2/15/2013Announces 2012 Fourth Quarter and Annual Results and 2013 Gu...
1/24/2013NOTICE: DPM Fourth Quarter and Year End 2012 Results
11/7/2012Announces 2012 Third Quarter Results
10/18/2012NOTICE: Dundee Precious Metals 2012 Third Quarter Results
8/1/2012Announces 2012 Second Quarter Results and Updated 2012 Guida...
7/9/2012NOTICE: DPM 2012 Second Quarter Results
5/8/2012DPM First Quarter 2012 Financial Results
10/14/2011NOTICE: DPM Third Quarter 2011 Results
7/11/2011NOTICE: DPM Second Quarter 2011 Results
4/27/2011Notice: DPM Annual General Meeting and 2011 First Quarter Re...
2/23/2011DPM Reports Fourth Quarter 2010
Project news of Dundee Precious Metals Inc
9/16/2013s 2013 Production Guidance
5/16/2013(Chelopech)Confirms Fundamentals Unchanged; Chelopech Mine Operating at...
9/10/2012(Chelopech)DPM Files Technical Report on Chelopech Pyrite Recovery Proj...
1/13/2012(Krumovgrad)Files Technical Report on Krumovgrad Gold Project
11/24/2011(Krumovgrad)Bulgarian Government Approves EIA for DPM's Krumovgrad Gold ...
2/23/2011(Chelopech)DPM Reports Fourth Quarter 2010 and Year-End Results and Upd...
Corporate news of Dundee Precious Metals Inc
7/28/2016Dundee Precious Metals Announces 2016 Second Quarter Results
7/25/2016Dundee Precious Metals Announces Power Blackout in Namibia R...
7/11/2016DPM Announces Closing of C$54.65 Million Bought Deal Financi...
7/7/2016Dundee Precious Metals Announces Second Quarter Production R...
6/20/2016DPM Announces C$50 Million Bought Deal Financing
12/21/2015Dundee Precious Metals Announces 15% Increase to Measured an...
11/19/2015Dundee Precious Metals Announces Approval of Main Detailed D...
11/5/2015Dundee Precious Metals Announces 2015 Third Quarter Results
11/4/2015Dundee Precious Metals Announces Changes to Board of Directo...
10/8/2015Dundee Precious Metals Announces Third Quarter Production Re...
9/15/2015Dundee Precious Metals Announces Maintenance of the Tsumeb S...
7/30/2015Dundee Precious Metals Announces 2015 Second Quarter Results
7/9/2015Dundee Precious Metals Announces Second Quarter Production R...
4/14/2015Dundee Precious Metals Announces First Quarter Production Re...
4/14/2015Announces First Quarter Production Results and Provides Noti...
3/31/2015Dundee Precious Metals Announces Reserve and Resource Update...
3/31/2015Announces Reserve and Resource Update for 2015
3/18/2015Dundee Precious Metals Announces Commencement of Annual Tsum...
3/18/2015Announces Commencement of Annual Tsumeb Smelter Shutdown
2/18/2015Tags to Riches: Mining Company Tracks Production With Sensor...
2/13/2015Dundee Precious Metals Announces 2014 Fourth Quarter and Ann...
2/13/2015Dundee Precious Metals Announces 2014 Fourth Quarter and Ann...
1/22/2015NOTICE: Dundee Precious Metals 2014 Fourth Quarter and Year ...
1/14/2015(Chelopech)Announces Record Fourth Quarter Production at Chelopech and ...
1/14/2015Dundee Precious Metals Announces Record Fourth Quarter Produ...
11/6/2014Dundee Precious Metals Announces 2014 Third Quarter Results
11/5/2014Dundee Precious Metals Announces 2014 Third Quarter Results
10/16/2014NOTICE: Dundee Precious Metals 2014 Third Quarter Results
10/16/2014NOTICE: Dundee Precious Metals 2014 Third Quarter Results
10/8/2014Dundee Precious Metals Announces a Favourable Preliminary Ec...
10/8/2014Dundee Precious Metals Provides Third Quarter 2014 Productio...
10/3/2014Dundee Precious Metals Acquires Shares and Warrants of Avala...
7/30/2014Dundee Precious Metals Announces 2014 Second Quarter Results
7/14/2014NOTICE: DPM 2014 Second Quarter Results
7/10/2014Dundee Precious Metals Announces Krumovgrad Municipal Counci...
7/10/2014Dundee Precious Metals Announces Krumovgrad Municipal Counci...
6/26/2014Dundee Precious Metals Increases Revolving Credit Facility b...
5/20/2014Dundee Precious Metals Strengthens Senior Management Team
8/29/2013Announces First Underground Mineral Resource Estimate for th...
7/24/2012Reports on Progress of Acid Plant at Smelter in Namibia
4/30/2012Receives First Contact from Namibian Government on Tsumeb Sm...
4/23/2012DPM Exercises Warrants of Dunav Resources Ltd.
2/16/2012DPM Announces 2011 Deno Gold Open Pit Project and Undergroun...
1/26/2012(Krumovgrad)Bulgarian Court Dismisses Appeal of DPM's Krumovgrad Mining ...
11/30/2011(Krumovgrad)DPM: New Krumovgrad Feasibility Study Confirms Low Cash Cost...
9/15/2011Improves Safety and Operational Efficiency With AeroScout Re...
9/2/2011Dunav Resources and Dundee Precious Metals Complete Transact...
8/23/2011DPM to Acquire Shares and Warrants of Dunav Resources Ltd. o...
5/10/2011(Chelopech)DPM and Chelopech Mining Raise Final US$14.5 Million of Chel...
3/23/2011DPM Exercises Warrants of Avala Resources Ltd.
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CA$ 7.58
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