DV:CC - 3 Take-Aways from Dolly Varden Silver's (DV.V) latest drill results
(TheNewswire)
November 9, 2023 – TheNewsWire – Global Stocks News– On November 6, 2023 Dolly Varden Silver (TSXV:DV) (OTC:DOLLF) released drill results from the Wolf Vein and – 1.5 kilometers to the north –the Moose Vein.
DV Silver is developing its 100% held Kitsault ValleyProject located in The GoldenTriangle of British Columbia, Canada, 25kms byroad to tide water.
“T he Golden Triangle is so named because ithosts some of the richest gold ore bodies in the world, as well as abundant silver , nickel andcopper deposits,” confirms BC Business . It has 1.2 billion ounces silver estimatedreserves , with 214 million proven andprobable.
Three Take-aways from the November 6, 2023 drillresults:
1. High grade silver continues at depth
2. Discovery of significant quantities of base metals
3. Moose Vein demonstrating similar metallic profile to WolfVein
Wolf Vein Highlights:
DV23-375, Southwest Extension step-out: 461 g/t AgEq* (296g/t Ag, 1.68% Pb, 3.01% Zn) over 26.99 meters , including 2,260 g/t AgEq* (1,475g/t Ag, 10.65% Pb, 12.00% Zn) over 0.50 meter froman 81-meter step-out.
DV23-379, Southwest Extension infill: 287 g/t AgEq* (247g/t Ag, 0.40% Pb, 0.73% Zn) over18.21 meters, including 1,170g/t AgEq (1,125g/t Ag, 0.14% Pb, 1.09%Zn) over 0.50 meters.
Moose Vein highlights:
DV23-371: 712 g/t Ag over 1.00 meter within a 7.55 meters length intervalaveraging 269 g/t Ag
1 AgEq iscalculated using /oz Au, /oz Ag, .90/lb Pb and.10/lb Zn, assays areuncut
"The results we are seeing from the Wolf Veincontinue to demonstrate depthcontinuity of the high-grade silver mineralization as well as an increase in base metal content," statedShawn Khunkhun, President and CEO of Dolly Varden Silver. "Drillhole DV23-375 has extended theplunge length to over 950 meters with increasedthickness of the potentiallyunderground bulk-mineable mineralization and itremains wide open for expansion. With over 70 drill holes remaining to beassayed and announced we eagerly await theirresults."
When Dolly Varden purchased the Homestake Ridge Property from Fury,the primary objective was to consolidate assets, add size and scale. But Khunkhun and the DV Silver geological team are also exploring ahunch that two metallic zones are connected. DV needed to control bothassets to meaningfully explore the hunch.
“What is special about the November 6, 2023 drill results is thatthese are big intercepts,” Khunkhun told Guy Bennett, the CEO ofGlobal Stocks News (GSN). “We're talking about an almost 27-meterintercept, grading at 461 g/t of silver equivalent.”
This is the first time during Khunkhun’s tenor asCEO, that DV has reported silver equivalencies.
“Along with 296 grams of silver, we have a significant lead and zinckicker,” confirmed Khunkhun. “As we go deeper, this base metalzone may continue to add value to the deposit. We believe the WolfVein is potentially amenable to underground bulk mining.”
Bulk mining generally has lower mining costs associatedwith it, allowing for a lower cut off grade bringing in more material,increasing the tonnage per day and number of ounces mined.
“Some of these old, narrow vein deposits don't work in the modernera,” Khunkhun told GSN. “You don’t want to be chasing narrowveins, hand sorting material. Our goal is that Dolly Varden Silverwill be an efficient, highly mechanized mine with a lowAll-In-Sustaining-Cost (AISC).”
“We've already have a kilometer of plunge length at Wolf,”Khunkhun continued. “When we step out, we get solid hits like this.Why did Hecla put in $10 million last week? I suspect they are seeingthe same potential we see at Wolf. Hecla’s goal is to increasesilver production in Canada.”
About 47% of DV Silver is owned by institutional investors (Fury –22%; Hecla 15%; Eric Sprott – 9%).
“I audition the institutional shareholders,” KhunKhun explained toGSN. “We have various entities throwing money at us at higherprices. It’s tempting to take the money. But I don’t want somehedge fund spontaneously deciding to rotate out of silver intouranium. It’s valuable to have stakeholders who share ourlong-term vision - like Hecla, Fury and Sprott.”
On November 6, 2023, Maurice Jackson, Founderand CEO of Proven & Probable conducted an interview with Mr.Khunkhun. Proven & Probable specialises in simplifying geologicaldata. DV Silver sponsors the website, and Mr. Jackson is a long-termshareholder in DV Silver.
“We are very happy to welcome Hecla’s increasedownership stake,” Khunkhun told Mr. Jackson, “Hecla hasdemonstrated it is a sticky shareholder. They're looking for the endproduct. The $10 million strategic investment raised their stake from10% to about 15%. We're happy to leverage their financial andtechnical contributions.”
A total of 51,454 meters was completed during 2023 in 115drill holes at the Dolly Varden and Homestake Ridge areas with 23,923of those from the Dolly Varden Project area.
The Contractor's drills have been demobilized and theexploration camp has been winterized. The November 6, 2023 releaseincludes eight holes from Wolf and four holes from Moose. A total of31 holes for 15,860 meters were drilled at Wolf in 2023.
Contact: guy.bennett@globalstocksnews.com
Copyright (c) 2023 TheNewswire - All rights reserved.