DPM gold-copper find near Chelopech: project economics and design notes for engineers
Reviewed by Tom Sullivan
First reported on MINING.com
30 Second Briefing
DPM Metals has reported a major gold-copper intercept at the Brevene South Porphyry target in Bulgaria, about 1 km from its Chelopech underground mine, with hole EX_BRESPO_03 cutting 713 m at 1.31 g/t gold and 1.16% copper from 1,172 m downhole, including 398 m at 1.48 g/t gold and 1.45% copper from 1,487 m. The porphyry lies within a >1,000 x 1,500 m hydrothermal system that remains open, and DPM has mobilised five high-capacity rigs for up to 15,000 m of additional drilling this year to test continuity and geometry for a resource. Proximity to existing Chelopech infrastructure, which currently hosts 15.3 Mt measured and indicated at 2.18 g/t gold and 0.64% copper and is permitted to 2036, could materially lower development capital and timelines if BSP proves economic.
Technical Brief
- BSP lies in the southeastern Brevene exploration licence, directly contiguous with the Chelopech concession.
- The discovery is approximately 1 km from the existing Chelopech underground reserve footprint, enabling potential shared infrastructure.
- Hydrothermal alteration footprint exceeds 1,000 m by 1,500 m and remains open laterally and at depth.
- Additional intercepts include EX_BRES_555_02: 95 m @ 0.43 g/t Au, 0.48% Cu from 1,250 m.
- Twin/step‑out hole EX_BRES_555_02A returned 37 m @ 0.53 g/t Au, 0.63% Cu from 1,357 m.
- BSP is DPM’s fourth significant discovery since 2023, after Čoka Rakita, Dumitru Potok and Wedge Zone.
- Chelopech life‑of‑mine was extended to 2036, with 15.3 Mt M&I at 2.18 g/t Au, 0.64% Cu.
- Inferred Chelopech resources add 9.1 Mt at 1.96 g/t Au and 0.57% Cu, supporting district‑scale planning.
- Chelopech 2026 guidance of 150–170 koz Au and 29–34 Mlb Cu frames potential synergies if BSP advances.
Our Take
The Brevene South Porphyry grades and scale sit well above the existing Chelopech measured and indicated copper grade, which in our database suggests strong optionality for DPM Metals to blend higher-grade ore and sustain copper output towards the 29–34 million lb forecast range without major new infrastructure.
With this being the fourth significant discovery since 2023 around Chelopech, DPM Metals is effectively turning the district into a multi-deposit camp, which tends to support lower unit costs and smoother permitting compared with greenfield builds in new jurisdictions such as its stalled Loma Larga project in Ecuador.
RBC Capital Markets’ recent commentary in our coverage that higher copper prices are needed due to weak project pipelines underscores the strategic value of a near-mine discovery like BSP in Bulgaria, as it can be advanced faster than remote greenfield copper projects and capture upside in a tight market.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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