DOLLF - [VIDEO ENHANCED] Dolly Varden Silver's (DV.V) Kitsol Vein Extends Closer to Surface.
(TheNewswire)
On August 15, 2023 – TheNews w ire – Global Stocks News – Lastweek Dolly Varden Silver (TSXV: DV) (OTCQX: DOLLF) released the first batch of drillresults from its planned 55,000-meter drillprogram along the Kitsault Valley Trend in British Columbia’s famed“Golden Triangle”.
The Golden Triangle hosts one of the world’s largestconcentrations of minerals,” confirms The Deep Dive with “188 million ounces of gold estimated reserves, with47.5 million proven and probable; 1.2 billion ounces silver estimatedreserves, with 214 million proven and probable .”
With roughly 10% of the total drilling reported, DollyVarden has established that its Kitsol Vein is wider, longer and closer to thesurface than previously known. This willtypically improve the economics of a mine – making itquicker-to-cash-flow.
Highlights from the Kitsol Vein in the Torbrit Depositarea include:
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DV23-334: 297 g/t Ag over 8.32meters including 1,090 g/t Ag over 0.90 meters atKitsol
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DV23-336: 342 g/t Ag over 18.00meters including 2,270 g/t Ag over 0.50 meters and 995 g/t Ag with 3.6%Pb over 0.60 meters at Kitsol
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DV23-337: 496 g/t Ag over 9.57 meters including 1,100 g/t Ag over0.73 meters at Kitsol
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DV23-348: 334 g/t Ag over 3.50 meters including 672 g/t Ag over 1.34meters at Torbrit Main, south extension
“Intervals are core length,” states Dolly Varden,“True widths vary from 64 to 87% of core length interval, assays areuncut.”
"As the flow of results from our fully funded 2023exploration drill program have started, we continue to see successfulresource expansion drilling at the Kitsol Vein, intersecting highgrade silver mineralization over wide intervals, that is potentially amenable to bulk undergroundmining methods ," stated Shawn Khunkhun,President and CEO of Dolly Varden Silver.
“The Kitsault Valley asset is a volcanogenic,strata-bound system with 1,000 gram per tonne veins,” Khunkhun toldGuy Bennett, CEO of Global Stocks News (GSN). “But the system isalso disseminated with 200 gram/tonne silver. Bulk mining wouldenable us to boost the average grade and the tonnage per day,improving mine economics.”
“With bulk tonnage underground mining, instead ofdoing a blast where you pull out 25 tonnes of rock, you're pulling out10,000 tons of rock per blast,” Dolly Varden VP of ExplorationsRobert Van Egmond told GSN. “When the Torbert Mine was in productionin the 1950s, they had stopes that were 20 meters wide, 30 metershigh. You're peeling off large amounts of rock, you don't need a lotof equipment and people moving around.”
From the four highlighted holes in the August8 th press release, the deepest intersect is 131.9 meters belowsurface.
To put this in context, Pan AmericanSilver’s May, 2023 drill results from its LaColorada Skarn project in Zacatecas, Mexico,included a highlighted hole of “64 metres at 391 grams/tonnesilver” 1.2 kilometers below surface.
“Due to drilling success and efficiencies, a fifthdrill has been mobilized to site and the 2023 program has beenexpanded by approximately 10,000 meters to 55,000 meters ofdrilling,” states DV. “Over 70 drill holes have been completedto-date this season”.
Weak ESG initiatives can kill resourceprojects . Conversely, s trong local partnerships combined with robust environmentalprotections are significant de-riskers for investors.
Five years ago, DV was part of group focussed ondeepening the relationships with The Golden Triangle’s First Nationsincluding the Nisga’a Lisims Government (NLG)
“Government, along with First Nations and severalexploration companies [including DV Silver] from B.C.’s northwestregion, has created the B.C. Regional Mining Alliance (BCRMA) topromote British Columbia’s mining opportunities internationally,” reported the Nisga’aNation .
“British Columbia's Golden Triangle is poised for amining boom that raises the bar when it comes to achieving the higherenvironmental, social, and guidance expectations for companies thatproduce the gold, silver, copper, and other metals the world needs andwants,” confirms Mining NewsNorth .
"Through our partnership, we are creating a circleof certainty in the Golden Triangle that will attract investors towork with us in our territories," stated Nisga'a LisimsGovernment President Eva Clayton.
“We have a very good relationship with theNisga’a,” confirms Khunkhun. “They often travel with me toconferences. They are looking to maximize employment opportunitiesalso grow their wealth. We have the same objective for theNisga’a.”
“We are also launching a business with them,”continued Khunkhun, “Our goal is to make it one of the largestindigenous- owned business in the country. The Nisga’a aresophisticated and pro business.”
“We have 15 Nisga’a staff working at site now,”reports Van Egmond. “They are doing camp maintenance, buildingdrill pads, falling trees, logging core and we’re starting to getNisga’a people working on the environmental side. We are fortunateto have long-time employees, they are a massive asset to ouroperations.”
On August 8, 2023, Maurice Jackson, Founder and CEO of Proven & Probable conducted a wide-ranging interview with Mr. Khunkhun. Mr.Jackson “educates and speculates” in the Natural Resource Space;he is also a long-term shareholder in DV Silver.
“Dolly Varden is giving investors leverage to risingsilver and gold prices,” Khunkhun told Jackson, “At a time wheresilver and gold may be either declining or flat in price, we havesuccessfully grown our mineral inventory, giving precious metalsinvestors exposure to a large high-grade silver and gold deposit in avery safe location.”
“We had about a $20 million drill budget, whichfunded 45,000 meters,” continued Khunkhun. “Because ofefficiencies, we're able to allocate an extra 10,000 meters ofdrilling, increasing the program to 55,000 meters. We're bringing ina fifth drill rig to accomplish that goal, at no extra cost to ourshareholders”.
In 2017, the $ 2.8 billion Hecla Mining Company made aformal takeover bid for Dolly Varden Silverat C$0.69 cash per share (a 97% premium to market at the time). Thisoffer was rejected. Hecla currently owns 10% of DV and is one ofmany potential buy-out suitors, as DV’s metal inventory grows.
Dolly Varden’s 163 square kilometer project hosts thehigh-grade silver and gold resources of Dolly Varden and HomestakeRidge along with the past producing Dolly Varden and Torbrit silvermines. The company’s land package is 40X larger than Vancouver’sStanley Park.
“The August 8 th drill resultsare less than 10% of the drill program,” Khunkhun told GSN. “Wewill continue to drill. I anticipate putting out result-oriented news,once or twice a month throughout September, October, November,December and into the New Year.”
Contact: guy.bennett@globalstocksnews.com
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