DV:CC - [Video Enhanced] Dolly Varden Silver (DV.V) is now officially in the gold business
(TheNewswire)
February 15, 2024 – TheNewswire – Global StocksNews – On February 12, 2024 Dolly Varden Silver (TSXV:DV)(OTC:DOLLF) published assay results from its 2023 step-out drillingprogram at the Homestake Ridge property . DVintersected a new gold-richzone , to the northwest from the Homestake SilverDeposit.
DV Silver is developing its 100% held Kitsault ValleyProject located in the Golden Triangle of British Columbia, Canada, 25kilometers by road to tide water. It also has a new consolidatedcopper-gold porphyry project in the Golden Triangle, similar to otherdeposits in the region (Red Mountain, KSM, Red Chris).
Highlights of Homestake Silver step-outs to the northwestinclude: (intervals shown are core length**)
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HR23-389 : 79.49 g/t Au and 60 g/t Ag(80.21 g/t AuEq*) over 12.45 meters including 1,335 g/t Au*** and 781 g/t Ag (1,344.42g/t AuEq*) over 0.68 meters within a broadmineralized zone grading 15.26 g/t Au and 20.05 g/t Ag (15.50 g/tAuEq*) over 66.50 meters.
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HR23-399 : 43.10 g/t Au and 66 g/t Ag(43.90 g/t AuEq*) over 1.01 meters and 40.33 g/t Au and 418 g/t Ag(45.37 g/t Au Eq**) over 1.75 meters within abroad mineralized zone grading 2.68 g/t Au and 20 g/t Ag (2.92 g/tAuEq*) over 57.70 meters.
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HR23-410 : 10.17 g/t Au over 6.61 meters including 50.70 g/t Au over 0.62 meters
Highlights from Homestake Main infill drilling below high-grade plunge include: (intervals shown are core length**)
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HR23-374: 22.60 g/t Au over 0.67 meters, 18.75 g/t Auover 2.00 meters and 10.15 g/t Au over 1.00 meter in separate vein breccias included in a wider mineralizedenvelope grading 1.22 g/t Au and 1.90 g/t Ag (1.24 g/t AuEq*) over83.51 meters.
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HR23-386 : 18.14 g/t Au and 30 g/t Ag(18.51 g/t AuEq*) over 2.50 meters including 69.9 g/t Au and 42 g/t Ag(70.41 g/t AuEq*) over 0.50 meters.
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HR23-390 : 129.00 g/t Au and 218 g/t Ag(131.63 g/t AuEq*) over 0.50 meters in a veinbreccia included in a wider mineralized envelope grading 1.92 g/t Auand 3.58 g/t Ag (1.96 g/t AuEq*) over 50.30 meters.
*AuEq and AgEq are calculated using /oz Au,/oz Ag
**Estimated true widths vary depending on intersection angles andrange from 50% to 85% of core lengths.
***Determined using metallic screen fire assay on 1.0 kg split
On February 13, 2024, Dolly VardenSilver CEO Shawn Khunkhun discussed the February 12 news with CEO.caon-air host, Amrit Gill. [1]
“These results represent a brand-new gold zone,”Khunkhun confirmed to Gill. “If you go to the Homestake Ridge partof the property, there are two dominant zones Homestake Main andHomestake Silver. There's about 350 meters that separate the twozones”.
“One is a silver zone with gold. The other is a golddominant deposit. We've just tagged a very high-grade gold area ,”continued Khunkhun. “This represents a 50-meter step out. Theclosest data point is 75 meters away. So, it's a significant step out.As we look ahead at the next round of drilling, we're going to want to see how big thiszone is .”
"The new high-grade gold and silver mineralizationencountered in step out drilling to the northwest of Homestake Silverrepresents a significantbreakthrough in further defining, upgrading and expanding the mineralizationat Homestake Ridge ," confirmed Rob vanEgmond, Vice-President Exploration." This new zone remains opento the northwest, projecting towards the Homestake MainDeposit."
The February 12 press release includes the remainingdrill results from 48 drill holes from the 2023 drill program at the100%-owned Kitsault Valley Project.
This includes 26 drill holes at Homestake Main (11,054.90meters ), four drill holes (2,478.00meters) from the new gold-rich zone at the HomestakeSilver northwestern extension , and six exploration drill holes on the HomestakeRidge property (1,627.00 meters). In addition, twelve holes (6,971.00meters) from the Dolly Varden property includingthe North Star, Red Point andWolf areas were also reported in the release .
In the last 6 years, there has been significant M&Aactivity in The Golden Triangle.
On November 2, 2023 Dolly Varden Silver announced thatit has closed a deal where Hecla Canada invested $10 million in DVSilver , raising its stake in DV Silver from10.6% to 15.7%.
Hecla Mining has a market cap of USD $2.08 billion andtrades on the New York Stock Exchange (NYSE). It produced 14.2 million ounces of silver in2023 .
“We have this new North American focus,” Hecla CEO Phillips J. Baker told Kitco Mining onJanuary 26, 2024 .“T o the extent we can continue to grow in the US andCanada , we'll certainly do that. You can seethat with our investment inDolly Varden Silver .”
“Hecla has demonstrated it is a stickyshareholder,” Khunkhun confirmed to Global Stocks News CEO, GuyBennett. “They're looking to expand their North American silverportfolio.”
Source:https://twitter.com/peter_krauth/status/1725536566527795706/photo/1
“Global silver demand is forecast to reach 1.2billion ounces in 2024, which would mark the second-highest level onrecord, the Silver Institute said in a recentreport ,” according to CNBC.
“We think silver will have a terrific year,especially in terms of demand,” Michael DiRienzo, executive directorof the Silver Institute told CNBC. He expects silver prices to reach $30 per ounce, which would be a 10-year high,according to data from LSEG.”
“The institute sees a 9% climb in demand forsilverware and a 6% rise in jewelry demand this year,” reported CNBC , “with India expected to drive the jump in jewelrypurchases. A projected recovery in consumer electronics is also poisedto give the silver market an additional boost, the reportstated.”
"Whether we discover new zones of high-grade gold at HomestakeRidge or expand the large, wide and high-grade silver depositsat Wolf and Torbrit , drilling continues todeliver results from the premier, undeveloped gold-silver trend inCanada," stated Khunkhun in the February 12, 2024 pressrelease.
References:
[1] CEO.ca is a part of the mediaportfolio of EarthLabs, which includes The Northern Miner, CanadianMining Journal and Mining.com. CEO.ca has over 9 million users and 18million monthly page views
Contact: guy.bennett@globalstocksnews.com
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