DPM Metals Reports New High-Grade Intercepts from the Chelopech Wedge Zone Deep Prospect; Expects Mineral Resource Estimate by Year-End 2026
Wedge Zone Deep assays again exceed expectations, but a retreat from February highs leaves DPM at a crossroads between exploration success and a looming correction.
DPM Metals released assay results from ongoing drilling at the Wedge Zone Deep (WZD) prospect within its Chelopech mine in Bulgaria. Highlights include 58 m @ 15.28 g/t AuEq, 47.3 m @ 5.45 g/t AuEq, and 81 m @ 8.05 g/t AuEq – all significantly above the current Chelopech mine reserve grade of 2.18 g/t Au. The mineralized zone is now defined as roughly 170 m along strike, 130 m wide, and 300 m vertically, and remains open in multiple directions. Management expects to publish an initial mineral resource estimate for WZD by year-end 2026 and is advancing geotechnical, decline-design, and metallurgical studies. The intercepts are approximately 250 m below existing infrastructure, and metallurgical testwork indicates the material can be processed with the existing plant flowsheet.
This news follows the initial high-grade WZD discovery in November 2025 and the updated life-of-mine/reserve estimate in February 2026 that extended Chelopech to 10 years without WZD. The latest holes confirm very high-grade continuity and expand the prospect’s dimensions, adding weight to the idea that WZD will eventually become a significant resource. The market knew drilling was underway (10,000 m completed in Q1, additional now), so the results are more of a “delivery on plan” than a shock. The grade improvement relative to earlier holes (15.28 g/t AuEq vs. prior bests around 13–14 g/t) is modestly positive. Therefore, the release is positive but largely expected; it does not change the investment thesis materially today. It reinforces the longer-term growth story for Chelopech, but the stock has already pulled back sharply from its post-Q4 highs and may not re-rate on a routine exploration update. Hence, Routine – Positive.
DPM Metals (formerly Dundee Precious Metals) operates three mines: the Chelopech underground copper-gold mine in Bulgaria (flagship, now with a 10-year mine life), the Ada Tepe gold mine in Bulgaria (reaching end of life mid-2026), and the Vareš silver-lead-zinc-gold underground mine in Bosnia (acquired September 2025, ramping up). Key development assets include the high-grade Coka Rakita gold project in Serbia (feasibility complete, construction start early 2027, first concentrate H1 2029) and the Loma Larga gold project in Ecuador (environmental licence revoked, future uncertain). A district-scale exploration portfolio in Serbia (Rakita camp) has already defined 2.6 Moz Au and 1.9 Blb Cu in inferred resources at Dumitru Potok, Rakita North, and Frasen. The company also continues to aggressively explore the high-grade Wedge Zone Deep below Chelopech.