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Vancouver, BC - June 24, 2024 – TheNewswire – Global Stocks News – On June 19, 2024 Dolly Varden Silver (TSXV:DV) (OTC:DOLLF) released the first drill results from the 2024 exploration program, from the Moose and Chance Veins.
Dolly Varden Silver is advancing its 100% held Kitsault Valley Project, located in the Golden Triangle of British Columbia, Canada. The 163 sq. km. project hosts the high-grade silver and gold resources. The recently consolidated Big Bulk project 5 km to the east is prospective for porphyry and skarn style copper and gold mineralization.
DV’s precious metal inventory has increased 300% in the last four years through land consolidation and drilling.
Key Highlights of 2024 Drilling Program:
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Three drill rigs mobilised
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Initial 25,000 meters diamond drilling planned
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Focus on Homestake Silver and Wolf Deposits
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Follow up on new discoveries
“Exploration drilling is important for Dolly Varden,” Rob van Egmond, V.P of Exploration for DV Silver told Guy Bennett, the CEO of Global Stocks News (GSN). “We see growth potential on the property. There's a lot unexplored areas, and surface showings that deserve attention. The allocation of this summer’s exploration meters includes four or five targets.”
The Moose Vein is 1.5 km north of the Wolf. The Chance Vein is located 1.3 kilometers northeast of the Moose Vein. The DV geologists believe that the Moose Vein projects down underneath the sedimentary cap that masks the mineralization.
The first batch of drill results revealed intersections of high-grade silver mineralization at the Moose and Chance Veins within the Kitsault Valley Project.
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“Exploration Drill Programs typically involve testing a theory,” van Egmond told (GSN). “Right now, we are testing the theory that the Moose and Chance veins are deposited on a similar cross cutting structure to Wolf.”
Highlights From the June 19 press release include*:
Moose Vein
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DV24-387: 977 g/t Ag over 5.00 meters, including 3,670 g/t Ag over 0.79 meters
Chance Vein
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DV24-388: 206 g/t over 23.03 meters, including 597 g/t Ag over 1.40 meters and 749 g/t Ag over 0.50 meters
*All intervals shown are core length. Estimated true widths vary depending on intersection angles and range from 70% to 90% of core lengths.
"These excellent results from the first hole at the Moose Vein from the 2024 program exhibits similar geological and mineralization features to the Wolf deposit,” stated Shawn KhunKhun CEO of Dolly Varden, “suggesting that this area has potential to emerge into the northernmost silver deposit along the 5-kilometer long trend that also hosts the Dolly Varden, Torbit and North Star deposits.”
“Limited drilling has been completed at Moose and the robust nature of the mineralized structure suggests a strong mineralizing system. Additionally, the first results over a significant width from the Chance Vein are also very encouraging," added Khunkhun.
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“The current drill program is confirming that the Moose Vein orientation is such that it may project down underneath the sedimentary cap that masks the mineralization,” van Egmond told GSN.
“We are taking the previous hit from last year (2023) - about 712 grams/tonne silver over a meter - and drilling towards the southwest at the same orientation as the plunge on Wolf Vein.”
GSN asked van Egmond if investors looking at the results from hole DV24-387 at Moose should be more focused on the 977 g/t Ag over 5.00 meters or the 3,670 g/t Ag over 0.79 meters.
“The 977 g/t silver over 5.00 meters is more significant,” confirmed van Egmond. “You'll get high grade breccias coming through, but it’s difficult to follow those within a multiple-phase vein. The wide intervals allow for the possibility of lower cost, bulk underground mining.”
“In the case of Wolf, we've got 25 meters averaging 300 grams/tonne silver,” added van Egmond. “A wide intercept at 300 grams per ton promotes favorable economics.”
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“The Chance Vein is something we drilled a few years ago,” van Egmond added. “At that time, we had an incomplete understanding of the plunged geometries. With the geometry defined, it’s possible to follow the high-grade mineralization down.”
On November 2, 2023 Dolly Varden Silver announced that it has closed a deal where Hecla Canada invested $10 million in DV Silver, raising its stake in DV Silver from 10.6% to 15.7%.
Hecla Mining has a market cap of USD $3.23 billion and trades on the New York Stock Exchange (NYSE). It is on track to produce 17 million ounces of silver in 2024.
“Dolly Varden is trading at about $1 an ounce in the ground,” KhunKhun told GSN. “The average company trades about $4 an ounce in the ground. If our exploration program continues to hit high-grade silver as we have at Moose and Chance, there is a strong likelihood that we are going to be revalued.”
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this GSN release.
Disclaimer: Dolly Varden Silver paid GSN CND $1,500 for the research, creation and dissemination of this content.
Contact: guy.bennett@globalstocksnews.com
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