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Dundee Precious Metals Inc.
Summary
| Project: | Timok | |
|---|---|---|
| Deposit: | Timok | |
| Location: | Serbia | |
| Commodities: | Gold | |
| Date: | 7/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-7-2019: Dundee Precious Metals Inc. announces a PEA report for its Timok deposit at the Timok project. PEA results incl. post-tax NPV (5%) of $105M, IRR of 18.6%. Toronto, July 15, 2019 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) | |
| Resources: | (Resource): 46.9Mt @ 1.32g/t Au (Ind.), 2.9Mt @ 0.8g/t Au (Inf.) | |
| CP/QP: | [Resources]: Maria O'Connor (CSA Global Pty Ltd.) | |
| ABSTRACT: | Toronto, July 15, 2019 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) on its Timok Gold Project (“Timok”) located in the Bor mining district in Serbia. The PEA is based on the updated mineral resource estimate completed in September 2018(1) and provides a base case, considering primarily oxide and transitional material types, upon which the project will now be optimized for mining and processing strategies, including an economic evaluation of the larger sulphide resource. “This PEA provides a solid foundation for the Timok Gold Project,” said Rick Howes, President and CEO. “With further optimization, Timok has the potential to provide significant accretive organic growth for relatively low initial capital in a region where we have had a presence for many years. DPM discovered Timok in 2008 and the team has advanced the project while developing strong relations with local communities and the government.” The PEA was prepared by CSA Global Consultants Canada Ltd (“CSA Global”) and is dated April 30, 2019. The PEA is preliminary in nature and includes some inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Unlike mineral reserves, mineral resources do not have demonstrated economic viability. There is no certainty that the PEA results will be realized. | |
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