Canadian mining company DPM Metals has announced a significant new gold-copper discovery at its Brevene South Porphyry (BSP) project in Bulgaria, located just one kilometre from the reserve boundary of the company’s flagship Chelopech underground mine. The discovery could become one of the most important new mineral finds in Europe, strengthening the region’s future supply of both gold and copper.
The breakthrough was confirmed through ongoing drilling at the BSP target, where one of the latest exploration holes delivered exceptional results. 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 broad 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. Importantly, drilling is still underway, indicating that the mineralized system could extend well beyond the current intercepts.
High-Grade Results Attract Industry Attention
The impressive drill results have generated strong interest among mining analysts. Industry experts describe Brevene South Porphyry as a potentially high-grade porphyry system with significant economic potential.
A key advantage of the discovery is its proximity to the existing Chelopech mining infrastructure. Because the new mineralized zone lies close to an operating mine, future development could benefit from lower capital costs, reduced infrastructure requirements, and a faster path toward potential production.
Investor confidence reflected the positive news, with DPM shares rising in Toronto trading and lifting the company’s market capitalization to approximately C$10.3 billion.
Expanding the Potential of One of Europe’s Premier Mines
The BSP target is located in the southeastern portion of the Brevene exploration licence, directly adjacent to the Chelopech mining concession. Situated around 75 kilometres east of Sofia, Chelopech is widely recognized as one of Europe’s highest-grade operating gold-copper mines.
After more than two decades of commercial production, Chelopech remains the cornerstone asset of DPM’s portfolio. Recent exploration successes in nearby targets, including the Wedge Zone Deep prospect, have demonstrated that the district continues to host substantial untapped mineral resources. The newly discovered zone forms part of a large hydrothermal system measuring more than 1,000 metres by 1,500 metres. According to company geologists, the system remains open in several directions, suggesting considerable room for expansion. The scale of the alteration system and the continuity of mineralization encountered so far point to the possibility of a large-scale mineral resource as exploration progresses.
Aggressive Drilling Program Underway
To accelerate evaluation of the discovery, DPM has mobilized five high-capacity drill rigs to the BSP target. The company plans to complete up to 15,000 metres of additional drilling before the end of the year. The primary objective is to confirm the continuity, geometry, and overall size of the mineralized system—critical factors required before a formal resource estimate can be established.
Additional drilling results released alongside the headline discovery further support the project’s potential:
- EX_BRES_555_02 intersected 95 metres grading 0.43 grams gold and 0.48% copper from 1,250 metres depth.
- EX_BRES_555_02A returned 37 metres grading 0.53 grams gold and 0.63% copper from 1,357 metres depth.
These results indicate that mineralization extends across multiple zones within the broader exploration area.
Fourth Significant Discovery Since 2023
The Brevene South Porphyry find marks DPM’s fourth major discovery in just three years. It follows earlier exploration successes at Čoka Rakita, Dumitru Potok, and Wedge Zone.
According to CEO David Rae, the discovery represents a milestone achievement for both the company and its shareholders, highlighting the effectiveness of DPM’s ongoing exploration strategy across the region. The company plans to complete the current exploration phase by September and subsequently submit a Commercial Discovery Certificate. This will be followed by applications for a mining concession and the necessary environmental permits under Bulgaria’s regulatory framework.
Chelopech Mine Positioned for Long-Term Growth
The new discovery comes only months after DPM successfully extended the operating life of the Chelopech mine by four years, pushing its projected mine life to 2036.
Current measured and indicated resources at Chelopech total approximately 15.3 million tonnes, grading:
- 2.18 g/t gold
- 9.19 g/t silver
- 0.64% copper
These resources contain an estimated:
- 1.07 million ounces of gold
- 4.52 million ounces of silver
- 216 million pounds of copper
In addition, inferred resources total 9.1 million tonnes grading:
- 1.96 g/t gold
- 9.38 g/t silver
- 0.57% copper
Containing approximately:
- 573,000 ounces of gold
- 2.74 million ounces of silver
- 114 million pounds of copper
Strategic Importance for Europe’s Raw Materials Supply
For 2026, DPM expects Chelopech to produce between 150,000 and 170,000 ounces of gold and between 29 million and 34 million pounds of copper.
The discovery at Brevene South Porphyry could substantially enhance those long-term production forecasts while reinforcing Bulgaria’s role as a strategic supplier of critical raw materials for Europe. As demand for copper, gold, and other essential metals continues to grow amid the global energy transition and technological expansion, discoveries of this scale are becoming increasingly important for securing future mineral supply chains.
