DPM Metals Hits 50m at 3.68% CuEq as Ore Body Opens in All Directions
Key Takeaways
- Drillhole DPDD042 returned 50 metres at 3.68% CuEq from 761 metres depth, including a high-grade sub-interval of 21 metres at 5.44% CuEq, making it the strongest intercept reported from the Dumitru Potok system to date.
- Mineralisation is now confirmed open approximately 90 metres west, 100 metres southwest, and 300 metres north of the existing Mineral Resource, with the company stating that mineralised tonnage may exceed previous modelling.
- DPM is expanding its 2026 drilling programme by 12,000 to 15,000 additional metres, bringing total planned metres to 32,000–35,000, with rig count on the Čoka Rakita licence set to rise from 10 to 15 by year-end.
- An updated Mineral Resource estimate for Dumitru Potok is targeted for completion by end of Q1 2027, to be followed by a Preliminary Economic Assessment (PEA) targeted for end of 2027.
- DPM trades on both the TSX and ASX (as a Foreign Exempt Listing), giving investors in both markets direct access to the developing story ahead of two clearly sequenced near-term catalysts.
Dumitru Potok mineralisation extends in all directions as DPM Metals ramps up drilling
New drilling results from DPM Metals (TSX: DPM, ASX: DPM) have extended copper-gold-silver mineralisation at the Dumitru Potok and Rakita North prospects on the Čoka Rakita exploration licence in Serbia, with the ore body now extended by approximately 90 metres west, 100 metres southwest, and 300 metres north of the existing Mineral Resource.
The headline intercept comes from drillhole DPDD042, which returned 50 metres grading 3.68% CuEq (comprising 2.18% Cu, 1.36 g/t Au, and 21.75 g/t Ag) from 761 metres downhole, including a high-grade sub-interval of 21 metres at 5.44% CuEq (3.80% Cu, 1.33 g/t Au, 37.63 g/t Ag) from 772 metres. In response to these results, DPM is expanding its 2026 drilling programme by an additional 12,000 to 15,000 metres, bringing total planned metres for the year to approximately 32,000 to 35,000 metres.
David Rae, President and Chief Executive Officer
“With mineralization open in all directions, we are increasing our 2026 drilling program for the Rakita Camp up to 35,000 metres as we pursue what we believe is a district-scale discovery.”
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Q1 FY27 drill results — highlights at a glance
The table below presents selected headline intercepts from the current drilling campaign across the Dumitru Potok and Rakita North prospects.
| Drillhole | Interval (m) | CuEq (%) | Cu (%) | Au (g/t) |
|---|---|---|---|---|
| BIDD253 | 246 | 1.36 | 0.67 | 0.69 |
| BIDD254 | 30 | 1.56 | 0.85 | 0.68 |
| DPDD041 | 84 | 2.06 | 0.71 | 1.37 |
| DPDD042 | 50 | 3.68 | 2.18 | 1.36 |
| RADDGTH009C | 76 | 2.66 | 1.76 | 0.88 |
- Full drillhole results, including silver grades and all sub-intervals, are detailed in Table 1 of the source announcement.
- Reported interval lengths are downhole lengths. True widths for stratabound mineralisation are estimated at approximately 90% or more of reported downhole intervals. Contact-skarn intersections in DPDD041 and BIDD253 are less favourably oriented relative to interpreted mineralisation geometry, so true widths for those intervals are expected to be less than reported downhole lengths but cannot yet be reliably estimated.
CuEq calculations are based on copper at US$3.85/lb, gold at US$2,600/oz, and silver at US$26/oz, assuming 90% metallurgical recovery for all metals, based on early-stage metallurgical testwork.
What is copper-gold skarn mineralisation and why does it matter here?
The geology behind the discovery
Skarn mineralisation forms when magmatic fluids (hot, metal-rich fluids from an igneous intrusion) interact with carbonate rocks such as limestone or marble, replacing and altering those rocks to create zones rich in copper, gold, and silver. The result is a chemically complex ore type that can host very high grades where the conditions are right.
At Dumitru Potok, two distinct mineralisation styles are present. Stratabound-manto mineralisation is layered and follows the rock strata, broadly conformable with the host marble units. Contact-skarn mineralisation forms at the boundary between the intrusion and the carbonate host rock, producing more irregular but often higher-grade zones. Having both styles active in the same system suggests a large, complex mineralising system with multiple zones available to explore, which is precisely what the current drilling is seeking to define.
Why the open mineralisation signal matters to investors
When geologists report that mineralisation is “open along strike, laterally and at depth,” they are saying that drill results have not yet hit the edge of the ore body in multiple directions. In practical terms, this means the resource boundary is not a wall — it is a frontier. The existing Mineral Resource is not the full picture; it is a subset of what the system may contain.
That is the signal driving the decision to expand drilling. CEO David Rae has described the target as a “district-scale discovery,” language that implies potential well beyond a single deposit outline. The company also points to its strong local presence in the region for over 20 years, strong relationships within local communities, demonstrated commitment to rigorous safety and environmental standards, and track record as a responsible operator in the Balkans as the foundation of its approach — factors that reduce the non-geological risks that can derail projects of this scale.
The announcement notes that results “indicate mineralized tonnage may be greater than previously modelled,” a direct signal that the next Mineral Resource estimate could materially exceed the 2025 figures.
Expanded programme and path to a PEA by end of 2027
Drilling scale-up underway
The Čoka Rakita licence currently has 10 rigs operating, with more than 16,000 metres drilled to date of the original 20,000-metre plan for 2026. Following the completion of the initial three-year term of the Potaj Čuka and Pešter Jug licences in the third quarter of 2026, drilling at those licences is expected to pause while the licence-extension process is completed. During that period, DPM plans to relocate drilling equipment to Čoka Rakita, which is expected to bring the rig count on that licence to 15 by end of 2026.
Current and planned operational priorities include:
- Step-out drilling to test the potential to expand mineralisation beyond the existing Mineral Resource
- Infill drilling at 50 by 50-metre spacing in the high-grade western contact-skarn zone
- Two rigs targeting the corridor between the Dumitru Potok and Frasen intrusions, where contact-skarn mineralisation is interpreted to have the potential to extend sub-horizontally for up to 250 metres from the causative intrusions
- Scout drilling east and south of the Čoka Rakita deposit
- Additional metallurgical testwork to further evaluate mineralisation variability
Mineral Resource update and PEA timeline
An updated Mineral Resource estimate for Dumitru Potok is expected to be complete by the end of the first quarter of 2027. That estimate will form the basis of a Preliminary Economic Assessment (PEA) — a study that provides an initial economic evaluation of a project’s viability — targeted for completion by the end of 2027.
CEO Rae described the decision to proceed with a PEA as reflecting “excitement and confidence in the Rakita Camp’s potential as a Tier One asset in our portfolio.” Both the updated Mineral Resource estimate and the PEA are targeted milestones, not guaranteed outcomes, and remain subject to the results of ongoing drilling and testwork.
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Investment case — a growing resource with district-scale ambition
The investment thesis at Dumitru Potok rests on several reinforcing elements. High-grade intercepts are extending mineralisation in multiple directions from an already-established resource base. The drilling programme is expanding rapidly, with rig counts set to rise from 10 to 15 on the Čoka Rakita licence alone by year-end. The source announcement states directly that results “indicate mineralized tonnage may be greater than previously modelled,” pointing to upside in the next resource estimate.
Near-term catalysts are clearly sequenced: ongoing drill results from several holes currently in progress, an updated Mineral Resource estimate targeted for end of the first quarter of 2027, and a PEA pathway targeted for end of 2027. DPM trades on both the Toronto Stock Exchange (TSX: DPM) and the Australian Securities Exchange as a Foreign Exempt Listing (ASX: DPM), giving investors in both markets access to the story as it develops.
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