Site with Around 50 Tons of Gold Detected Near Zagubica – Dundee Plans to Invest up to USD 35 million in Continued Exploration of Sites in Serbia in 2024

The mining company Dundee Precious Metals, which has detected a gold site near Zagubica, has announced that the Coka Rakita site contains close to 50.5 tons of gold.

– The initial mineral resource estimate confirms Coka Rakita’s potential as an attractive, high-quality gold project – said David Rae, President and Chief Executive Officer of Dundee Precious Metals.

He announced that the company planned to continue exploring the site and the further boring will be focused on expanding the borders of Coka Rakita.

Dundee said that it expected to have a preliminary economic estimate of the ore in the second quarter of 2024, with a target capacity of 850,000 tons a year.

The company also announced that it planned to intensify its explorations in Serbia in 2024. In addition to Coka Rakita, these explorations also include the locations Potaj Cuka, Pester Jug and Umka, and the planned scope of all these investments is USD 30 to 35 million.

Let us remind that, at the beginning of the year, Dundee Precious Metals announced that gold and copper had been detected in the Coka Rakita location.

The company, which has been exploring gold and the accompanying metals in Serbia since 2004, subsequently assessed that plenty remained to be done before it could be determined whether the opening of a mine in the Coka Rakita location was possible and within which deadline.

B. P.

DPM Avala doo Beograd

Dundee Precious Metals

David Rae

Čoka Rakita

Potaj Čuka

Pešter Jug

Umka

gold site near Žagubica

preliminary estimate of quantity of gold near Žagubica

gold explorations in Serbia