Canadian miner DPM Metals has reported a new gold–copper discovery at its Breneve South Porphyry (BSP) project in Bulgaria. The BSP target is located about one kilometre from the reserve boundary of the company’s Chelopech underground mine. DPM said the discovery is being defined through ongoing drilling at the BSP target.
DPM reported that drill hole EX_BRESPO_03 intersected 713 metres grading 1.31 grams of gold per tonne and 1.16% copper from a depth of 1,172 metres. Within that interval, a higher-grade section returned 398 metres averaging 1.48 grams of gold per tonne and 1.45% copper from 1,487 metres depth. The company stated drilling continues, indicating potential extension beyond the reported intercepts.
BSP results include long interval and higher-grade section
The company’s announcement focused on the latest exploration hole at BSP, with results presented as both a broad mineralised interval and a higher-grade segment within it. DPM said the mineralised system could extend beyond current intercepts because exploration drilling is still underway. The reported depths place mineralisation below 1,172 metres, with the higher-grade portion starting at 1,487 metres.
DPM also released additional drill results from the same broader target area. Drill hole EX_BRES_555_02 intersected 95 metres grading 0.43 grams of gold per tonne and 0.48% copper from 1,250 metres depth. Another hole, EX_BRES_555_02A, returned 37 metres grading 0.53 grams of gold per tonne and 0.63% copper from 1,357 metres depth.
BSP sits near Chelopech infrastructure in Brevene licence area
DPM said BSP is in the southeastern portion of the Brevene exploration licence, directly adjacent to the Chelopech mining concession. The Chelopech mine is located around 75 kilometres east of Sofia. The company described Chelopech as one of Europe’s highest-grade operating gold-copper mines.
DPM stated that BSP is close to existing Chelopech mining infrastructure, with the new mineralised zone lying near an operating mine. It said proximity to current operations could support development with lower capital costs, reduced infrastructure requirements and a faster route toward potential production. DPM also reported that its shares rose in Toronto trading following the announcement, lifting market capitalisation to approximately C$10.3 billion.
Hydrothermal system size and continuity remain under assessment
DPM said the newly discovered zone forms part of a large hydrothermal system measuring more than 1,000 metres by 1,500 metres. The company’s geologists stated the system remains open in several directions. DPM linked alteration scale and mineralisation continuity encountered so far to potential for a large-scale mineral resource as exploration progresses.
The company described Brevene South Porphyry as a potentially high-grade porphyry system with significant economic potential, based on industry attention generated by the drill results. DPM did not provide additional metallurgical or processing details in its announcement. The focus remained on defining geometry and extent through further drilling.
Five rigs planned for up to 15,000 metres before year-end
To accelerate evaluation of BSP, DPM mobilised five high-capacity drill rigs to the target area. The company plans to complete up to 15,000 metres of additional drilling before the end of the year. DPM said the objective is to confirm continuity, geometry and overall size of the mineralised system ahead of any formal resource estimate.
DPM also indicated that results from multiple holes support mineralisation across more than one zone within the broader exploration area. It presented intersections from EX_BRESPO_03 alongside results from EX_BRES_555_02 and EX_BRES_555_02A as evidence of distributed mineralisation across depths ranging from 1,172 metres to 1,487 metres for the main reported intervals.
Fourth major discovery since 2023; next steps include permits
DPM said BSP represents its fourth major discovery in just three years, following earlier exploration successes at Čoka Rakita, Dumitru Potok, and Wedge Zone. CEO David Rae said the discovery is a milestone for both the company and its shareholders. DPM plans to complete the current exploration phase by September.
The company said it will then submit a Commercial Discovery Certificate. After that step, DPM plans to apply for a mining concession and environmental permits under Bulgaria’s regulatory framework.
Chelopech mine life extended to 2036; production outlook for 2026
DPM said the BSP announcement comes months after it extended Chelopech’s operating life by four years to push projected mine life to 2036. Current measured and indicated resources at Chelopech total approximately 15.3 million tonnes. The grade is reported as 2.18 g/t gold, 9.19 g/t silver, and 0.64% copper.
DPM estimated these measured and indicated resources contain about 1.07 million ounces of gold, 4.52 million ounces of silver, and 216 million pounds of copper. Inferred resources total 9.1 million tonnes, grading 1.96 g/t gold, 9.38 g/t silver, and 0.57% copper. These inferred resources are estimated to contain approximately 573,000 ounces of gold, 2.74 million ounces of silver, and 114 million pounds of copper.
The company expects Chelopech production in 2026 to be between 150,000 and 170,000 ounces of gold. It also expects between 29 million and 34 million pounds of copper. DPM stated that BSP could enhance long-term production forecasts while reinforcing Bulgaria’s role as a supplier of critical raw materials for Europe.
