Toronto, April 9, 2020 – Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) announced strong preliminary production results from both of its mines and smelter for the three months ended March 31, 2020. The Company is on track to meet its previously issued guidance for 2020 at each of its operations.
“DPM delivered exceptional first quarter production results at each of our three operations for a strong start to the year,” said Rick Howes, President and CEO. “We continue to manage the evolving COVID19 situation by prioritizing the health and safety of our workforce and local communities as well as striving to maintain the continuity of our operations.”
Preliminary results for the first quarter are provided in the table below:
Ada Tepe delivered strong performance, achieving its highest quarterly gold production to date. Gold production and treatment for the first quarter exceeded planned levels, and the plant operated at design specifications. Chelopech continued its consistent track record in the first quarter, with gold production in line with expectations. Copper production was slightly below plan due to lower than expected grades and recoveries.
The Tsumeb smelter processed 65,010 tonnes of complex concentrate, its second highest quarterly production ever. This represents a significant increase from the previous quarter as the operation ramped-up following the annual maintenance completed during the fourth quarter of 2019. Overall, as a result of strong management focus and outstanding efforts at all sites to proactively respond to the COVID-19 pandemic, DPM delivered solid first quarter operating results and is on track to meet previously issued 2020 guidance.
The Mineral Resource and Mineral Reserve estimates for Chelopech and other scientific and technical information which supports this press release was prepared by Petya Kuzmanova, MIMMM, CSci, Senior Resource Geologist, of the Company, under the guidance of CSA Global (UK) Ltd. (“CSA”), in accordance with Canadian regulatory requirements set out in NI 43-101, and were reviewed and approved by, as relates to Mineral Resources, Maria O’Connor, BSc, MAusIMM, MAIG, Manager 4 Resources – EMEA of CSA, and as relates to Mineral Reserves, Karl van Olden, BSc (Eng), GDE, MBA, FAusIMM, Mining Manager of CSA. All are Qualified Persons (“QP”) as defined under NI 43-101. Maria O’Connor and Karl van Olden are independent of the Company, and Petya Kuzmanova is not independent of the Company.
Ross Overall, Corporate Mineral Resource Manager of the Company, who is a QP as defined under NI 43-101, has reviewed and approved the contents of this press release.
SOURCE: DUNDEE PRECIOUS METALS
DATE: APRIL 9, 2020