MINEX Forum

Tag: Brevene South Porphyry

  • DPM Metals Closes Ada Tepe Gold Mine for Rehabilitation as Chelopech Delivers Strong H1 Results and Major Porphyry Discovery Advances

    DPM Metals Closes Ada Tepe Gold Mine for Rehabilitation as Chelopech Delivers Strong H1 Results and Major Porphyry Discovery Advances

    Canadian mining company DPM Metals is closing its Ada Tepe gold mine in Bulgaria for rehabilitation on 15 July, following a final production blast at the site in mid-April. The mine produced 23,000 ounces of gold in the first half of 2026 before ceasing operations. DPM said that after rehabilitation, 95% of Ada Tepe’s land use will be returned to the Natura 2000 EU nature protection network.

    The closure marks the end of Ada Tepe’s operating life, while DPM’s other Bulgarian asset, the Chelopech gold-copper mine, continues to perform in line with expectations. Chelopech delivered 75,000 ounces of gold and 15 million pounds of copper in the six months through June, including 43,000 ounces of gold and 8 million pounds of copper in the second quarter alone. The mine is on track to achieve its full-year production guidance and had its operating life extended by ten years to 2036 in February based on updated mineral reserve estimates.

    Chelopech is also the focus of significant exploration activity. In June, DPM announced the discovery of high-grade gold-copper porphyry mineralisation at the Brevene South Porphyry target adjacent to the mine, with a standout drill hole returning 713 metres grading 1.31 grams per tonne gold and 1.16% copper — results that analysts described as distinguishing the BSP as a potentially very high-grade porphyry system. In May, the company also identified new high-grade intercepts at the Wedge Zone Deep target within the Chelopech mine licence area.

  • DPM Metals Strikes Major High-Grade Gold-Copper Porphyry Discovery in Bulgaria Adjacent to Chelopech Mine

    DPM Metals Strikes Major High-Grade Gold-Copper Porphyry Discovery in Bulgaria Adjacent to Chelopech Mine

    DPM Metals has announced a significant gold-copper porphyry discovery at its Brevene South Porphyry target in Bulgaria, with a single hole cutting 713 metres grading 1.31 grams per tonne gold and 1.16% copper — results that analysts say could distinguish the site as one of Europe’s most compelling new porphyry systems.

    Standout hole EX_BRESPO_03, drilled approximately one kilometre from the reserve footprint of the operating Chelopech underground mine, returned the 713-metre interval from 1,172 metres downhole, including a higher-grade core of 398 metres at 1.48 grams gold and 1.45% copper from 1,487 metres depth. The hole remains in progress. RBC Capital Markets analyst Harrison Reynolds described the results as distinguishing BSP as “a potentially very high-grade porphyry system,” adding that proximity to existing mine infrastructure materially de-risks the path to eventual economic extraction.

    DPM shares rose 1.6% to C$46.70 in Toronto on Wednesday, valuing the company at approximately C$10.3 billion ($7.5 billion).

    The BSP target sits within the southeastern portion of the Brevene exploration licence, contiguous with the Chelopech mine concession approximately 75 kilometres east of Sofia. The new mineralised zone lies within a hydrothermal alteration system measuring more than 1,000 by 1,500 metres and remains open for expansion. Additional holes released Wednesday include 95 metres at 0.43 grams gold and 0.48% copper from 1,250 metres, and 37 metres at 0.53 grams gold and 0.63% copper from 1,357 metres.

    DPM has mobilised five high-capacity drill rigs to the target and plans up to 15,000 additional metres of drilling by year-end. The company is targeting a Commercial Discovery Certificate after exploration work concludes in September, followed by a mining concession application and environmental permitting. The discovery is DPM’s fourth significant find since 2023, following Čoka Rakita, Dumitru Potok and Wedge Zone.

    Chelopech, one of Europe’s highest-grade operating gold-copper mines, had its operating life extended by four years to 2036 four months ago. DPM forecasts Chelopech will produce 150,000 to 170,000 ounces of gold and 29 to 34 million pounds of copper this year.