DPM Metals (ASX:DPM) announced a substantial update to the mineral resource and mineral reserve estimate for its flagship Chelopech mine in Bulgaria, effectively extending the operation’s life to ten years.
The revised life of mine plan now envisions sustained production through 2036, maintaining a robust average output of approximately 160,000 gold equivalent ounces annually.
The extension is driven by a remarkable 42% increase in mineral reserve tonnage, now totaling 23.2 million tonnes.
The growth reflects a net increase in metal content of 12% for gold and 10% for copper, bolstered by the inclusion of the Sharlo Dere prospect and optimised design parameters.
Beyond current reserves, the measured and indicated mineral resource base grew by 20% to 15.3 Mt, suggesting a strong pipeline for further life extensions.
CEO David Rae highlighted the company's "track record of replacing mineral reserves," noting that the update reinforces the long-term value of the Chelopech concession.
Located 300m below existing infrastructure, WZD is not yet included in the current MRMR, representing significant untapped upside.
Drilling results for this high-grade prospect are expected in the second quarter of 2026.
At the time of reporting, DPM Metals’ share price was $48.72.