Recent diamond drilling completed by Dundee Precious Metals Inc. discovered a new high-grade copper-gold zone, dubbed Zone 153, at its Chelopech gold-copper-silver mine in Bulgaria.

The company's resource development drill program, focused on the upper levels of the mine's Western Area, returned a highlight of 62.5 meters (true width) grading 13.58 g/t of gold and 2.87% copper from a depth of 150 meters, including a 34.6-meter subinterval grading 22.09 g/t of gold and 4.26% copper.

Dundee Precious noted in its Dec. 20 statement that Zone 153 was missed by historical exploration holes that were primarily vertical and drilled on a 100-meter by 100-meter grid. Mineralization remains open to the northeast above and for approximately 100 meters below the 440 level of the property.

The company has completed an initial drill program in the Zone 153 area and plans to undertake a further 6000 meters of drilling in 2017.

"This is significant because of the potential to add high-grade resources accessible near our existing development," Dundee Precious President and CEO Rick Howes said. "Further work will be required to determine the full extent of this new zone and to assess the impact it will have on the Chelopech life of mine plan."