January 31, 2023 (Investorideas.com Newswire) Dolly Varden Silver (TSXV:DV, OTC:DOLLF) has provide you with extra high-grade gold and silver outcomes from its Kitsault Valley mission positioned within the southern a part of British Columbia’s Golden Triangle.
The Vancouver-based firm on Jan. 30 announced assays from its Homestake Primary and Homestake Silver deposits.
The 163-square-km property is an amalgamation of Dolly Varden’s namesake mission, and the Homestake Ridge mission that DV acquired from Fury Gold Mines again in February, 2022.
The mixed mineral useful resource of 34.7Moz silver and 166,000 oz gold (indicated), and 29.3Moz silver and 817,000 oz gold inferred, inside a number of outcropping deposits, makes Kitsault Valley one of many largest high-grade, undeveloped valuable steel belongings in Western Canada.
The target of 2022 drilling was to expanded a number of sub-parallel mineralized zones and to improve inferred sources at these deposits. Forty-one holes and 10,472 meters had been accomplished at Homestake Primary, 12 holes (6,076 meters) had been drilled at Homestake Silver, and three holes had been sunk alongside the Homestake Ridge pattern.
The highlights from a batch of drill outcomes included:
- From Homestake Primary, 46.31 g/t Au, 70 g/t Ag and 0.19% Cu over 25.00 meters in gap HR22-333, together with 1,145 g/t Au, 826 g/t Ag and 0.51% Cu over 0.48 meters;
- From Homestake Silver, 2,500 g/t Ag, 15.04 g/t Au and 0.17% Cu over 1.20m in gap HR22-361; and
- 469 g/t Ag over 2.70m together with 1,040 g/t Ag over 0.65m in gap HR22-365.
Different stand-out intersections from Homestake Primary:
- HR22-324: 4.32 g/t Au and 76 g/t Ag over 22.50 meters together with 19.42 g/t Au and 375 g/t Ag over 4.50m;
- HR22-336: 6.19 g/t Au and 1,844 g/t Ag over 3.90m and 6.37 g/t Au, 29 g/t Ag and 1.51% Cu over 6.00m;
- HR22-338: 4.16 g/t Au, 21 g/t Ag and 1.42% Cu over 5.10m together with 20.80 g/t Au, 115 g/t Ag and 11.60% Cu over 0.50m;
- HR22-345: 8.73 g/t Au and 12 g/t Ag over 29.54m, together with 260 g/t Au, 102 g/t Ag over 0.70m;
- HR22-359: Three higher-grade zones @ 9.49 g/t Au over 1.52m, 24.00 g/t Au over 0.70m and 46.20 g/t Au over 0.50m inside a 40.50-meter interval.
And from Homestake Silver:
- HR22-349: 211 g/t Ag over 3.50m, and 688 g/t Ag over 0.80m;
- HR22-357: Three higher-grade silver intersections @ 1,185 g/t Ag over 0.50m, 816 g/t Ag over 0.50m and 1,085 g/t Ag over 0.50m inside a 129-meter-wide structural hall;
- HR22-362: 1,252 g/t Ag, 0.81 g/t Au and 0.14% Cu over 2.50 meters, together with 3,330 g/t Ag, 0.75 g/t Au and 0.38% Cu over 0.75m.
“Dolly Varden Silver’s preliminary drilling on the Homestake Primary deposit has returned constant mineralized intervals with a few of the highest grades of gold with silver reported from the property to this point, but additionally all the Golden Triangle throughout the 2022 drilling season,” mentioned Shawn Khunkhun, Dolly Varden’s President and CEO, within the Jan. 30 news release. “Coupled with the distinctive grades and thicknesses of silver mineralization encountered in step-out holes on the Wolf and Kitsol deposits, we’re demonstrating the spectacular valuable steel endowment and potential of the Kitsault Valley pattern.”
Determine 1. Homestake Ridge deposits inside Dolly Varden’s Kitsault Valley pattern.
Based on Dolly Varden, the Homestake Ridge deposits are interpreted as structurally-controlled, multi-phase epithermal vein and breccia techniques hosted in early Jurassic-age Hazelton Group volcanic rocks. Mineralization consists primarily of pyrite and chalcopyrite in a breccia matrix inside a silica breccia vein system, domestically with native gold, silver and electrum. (Determine 3). The northwestern strike of the principle Homestake structural pattern hosts a number of sub-parallel constructions which can be interpreted to type the controls for high-grade gold shoots inside a broader interval of mineralization on the Homestake Primary deposit. The primary structural hall dips steeply to the northeast ( Figures 4 to six).
igure 2. Homestake Primary and Homestake Silver lengthy part (trying west) with 2022 drilling highlighted.
Homestake Primary
The outcomes from the Homestake Primary deposit are primarily infill drilling from areas of present inferred sources, and counsel the higher-grade gold-silver shoots could also be extra intensive than beforehand thought. The drilling has additionally generated new targets down dip, alongside the projected plunge of the higher-grade shoots, which can be extensive open for enlargement.
4 of the drill holes at Homestake Primary had been drilled under the mineral useful resource domains to check for down dip extensions. Holes HR22-326, 329, 351 and 354 all intersected the constructions that host gold mineralization under the useful resource.
One step out drill gap, HR22-355, was drilled alongside pattern about 250m north of Homestake Primary. Alteration related to the principle deposit was encountered, with minor brecciation returning anomalous pathfinder components, as seen within the higher ranges of the mineralization system on the Homestake Primary deposit. This means the system continues to the north.
Determine 3. Drill gap HR22-333 from the Homestake Primary deposit displaying breccia vein-style mineralization.
Homestake Silver
2022 drilling on the Homestake Silver deposit was a mix of step out holes under the inferred useful resource, in addition to some infill drilling designed to transform inferred sources to indicated. Six infill drill holes, HR22-340, 344, 349, 353, 358 and 361, had been collared off three drill pads on the southern finish of the deposit (Determine 8). Based on Dolly Varden, the mineralization encountered in these holes is in line with earlier drilling.
Enlargement holes HR22-364, 365 and 366 focused the southern finish whereas HR22-357 and 360 within the northern finish of Homestake Silver examined under a number of of the useful resource domains. Drilling intersected silver mineralization (Determine 4) inside a number of vein stockwork zones, extending the zones to depth. These areas stay open down dip.
Determine 4. Drill gap HR22-366, a 473m deep, down dip step out from the Homestake Silver deposit, exhibits native silver in breccia vein-style mineralization.
Step out drill gap HR22-362, positioned roughly 200m down dip and alongside the focused projection of a Homestake Silver useful resource area intersected vein breccia over a 2.50m core size, grading 1,252 g/t Ag, together with 0.75m g@ 3,330 g/t Ag. Comparatively little drilling has been accomplished at Homestake Silver and with these step out mineralized intersections the enlargement potential to depth and alongside strike has been demonstrated.
Two new areas throughout the Homestake pattern had been examined with three drill holes, nevertheless no important mineralization was encountered.
Determine 5. Homestake Primary plan view highlighting 2022 infill and step out drilling (purple collars) with present mineral rsource block mannequin, primarily of Inferred classification.
Determine 6. Homestake Primary cross part 300NW (AB) with accomplished 2022 intersections.
Determine 7. Homestake Primary cross part 250NW (C-D) with 2022 and former drill holes.
Determine 8. Homestake Silver Plan View highlighting 2022 step out and infill drilling (purple collars) with present mineral useful resource block mannequin, primarily of inferred classification.
Conclusion
Dolly Varden is considered one of just a few junior useful resource firms placing out wonderful drill ends in a tough market. DV was up 11% on Monday’s information, to $1.00 a share. Since Sept. 27 the inventory has almost tripled in worth.
Dolly Varden had at all times mentioned that it successfully follows a two-pronged strategy to rising shareholder worth. Not solely was it aiming to develop its useful resource base by way of extra drilling, however the firm was additionally eyeing properties surrounding its authentic land bundle, which led to the Homestake Ridge acquisition and subsequent formation of the Kitsault Valley property.
The aim, in accordance with Dolly Varden’s president and CEO Shawn Khunkhun, is to “dramatically develop and improve the useful resource at our present deposits, setting the corporate as much as be the following improvement mission within the Golden Triangle.”
Now holding onto what is taken into account one of many largest high-grade, undeveloped valuable steel belongings in Western Canada, with a complete of seven deposits positioned alongside a mixed 15 km strike size inside a 163 km2 consolidated land bundle, Dolly Varden has definitely confirmed its methods have labored.
Dolly Varden is considered one of just a few junior useful resource firms that carried out drill packages this previous summer time, in a tough market. 37,000 meters is a big drill marketing campaign, and I used to be trying ahead to seeing it bear fruit, as the primary assays trickled in.
The 2022 exploration program was balanced between mineral useful resource enlargement and upgrading at 5 of the deposits that comprise the Kitsault Valley Undertaking, and exploration work specializing in the invention of latest silver and gold deposits. The target of infill drilling was to transform inferred mineral sources to the measured and indicated classes, with an emphasis on inferred sources on the lately acquired Homestake Ridge space. Concurrent with the diamond drilling, geological and geophysical work alongside the Kitsault Valley pattern was ongoing to assist refine present targets and uncover new ones.
Dolly Varden Silver continues to return high-grade silver outcomes from the southern finish of the extremely mineralized Golden Triangle — considered one of just a few pure-play silver districts on the planet, and the most important such mission in all of Canada. We all know the market is gentle however there are at all times 5 to 10% of firms that may stand out from the others; we imagine DV is a type of and we proceed to treat Dolly Varden as among the many greatest exploration firms within the sector.
The 2022 exploration drill program on the Kitsault Valley pattern accomplished 37,061 meters in 108 drill holes, with 4 rigs. Drilling wrapped up in mid-October with outcomes from roughly 20 holes remaining to be launched. Additionally, ground-based geophysics, floor mapping and prospecting work had been accomplished, evaluating historic prospects and figuring out new silver and gold occurrences.
Shareholders can count on the information circulation to proceed properly into 2023.
Dolly Varden Silver Corp.
TSXV:DV, OTC:DOLLF
Cdn$1.00, 2023.01.30
Shares Excellent 230m
Market cap Cdn$253.4m
DV website
Richard (Rick) Mills
aheadoftheherd.com
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