DV:CC - Dolly Varden Silver's Moose & Chance Veins are plunging just like the Wolf Deposit.
(TheNewswire)
Vancouver, BC - June 24, 2024 – TheNews w ire – Global Stocks News – On June19, 2024 Dolly Varden Silver (TSXV:DV) (OTC:DOLLF) released the first drill results from the 2024exploration program , from the Moose and Chance Veins .
Dolly Varden Silver is advancing its 100% held KitsaultValley Project, located in the Golden Triangle of British Columbia,Canada. The 163 sq. km. project hosts the high-grade silver and goldresources . The recently consolidated Big Bulkproject 5 km to the east is prospective for porphyry and skarn stylecopper and gold mineralization.
DV’s preciousmetal inventory has increased 300% in the lastfour 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 GuyBennett, the CEO of Global Stocks News (GSN). “ We see growthpotential on the property. There's a lot unexplored areas, and surfaceshowings that deserve attention. The allocation of this summer’sexploration meters includes four or five targets.”
The Moose Vein is 1.5 km north of the Wolf. The Chance Vein islocated 1.3 kilometers northeast of the Moose Vein. The DVgeologists believe that the Moose Vein projects down underneath thesedimentary cap that masks the mineralization.
The first batch of drill results revealed intersectionsof high-grade silvermineralization at the Moose and Chance Veins withinthe Kitsault Valley Project.
“Exploration Drill Programs typically involve testing a theory,” van Egmond told (GSN). “Right now, we aretesting the theory that the Moose and Chance veins aredeposited on a similar cross cutting structure toWolf.”
Highlights From the June 19 press releaseinclude*:
Moose Vein
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DV24-387: 977 g/t Ag over 5.00 meters, including 3,670 g/t Ag over0.79 meters
Chance Vein
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DV24-388: 206g/t over 23.03 meters, including 597 g/t Ag over 1.40 meters and 749 g/t Ag over 0.50meters
* All intervalsshown are core length. Estimated true widths vary depending onintersection angles and range from 70% to 90% of core lengths.
"These excellent results from the first hole atthe Moose Vein from the 2024 program exhibits similar geological and mineralizationfeatures to the Wolf deposit ,” stated ShawnKhunKhun CEO of Dolly Varden, “suggesting that this area haspotential to emerge into the northernmost silver deposit along the5-kilometer long trend that also hosts the Dolly Varden, Torbit andNorth Star deposits.”
“Limited drilling has been completed at Moose and therobust nature of the mineralized structure suggests a strongmineralizing system. Additionally, the first results over asignificant width from the Chance Vein are also veryencouraging," added Khunkhun.
“The current drill program is confirming that the Moose Veinorientation is such that it may project down underneath thesedimentary cap that masks the mineralization,” vanEgmond told GSN.
“We are taking the previous hit from last year (2023) - about 712grams/tonne silver over a meter - and drilling towards the southwestat the same orientation as the plunge on Wolf Vein.”
GSN asked van Egmond if investors looking at theresults from hole DV24-387 at Moose should be more focused on the 977 g/t Ag over 5.00meters or the 3,670 g/t Ag over0.79 meters.
“The 977 g/t silver over 5.00 meters is more significant,” confirmed vanEgmond. “ You'll gethigh grade breccias coming through, but it’s difficult to followthose within a multiple-phase vein. The wide intervals allow for thepossibility of lower cost, bulkunderground mining .”
“In the case of Wolf, we've got 25 meters averaging 300 grams/tonnesilver,” added van Egmond. “A wide intercept at 300 grams per tonpromotes favorable economics.”
“The Chance Vein issomething we drilled a few years ago,” van Egmond added. “At thattime, we had an incomplete understanding of the plunged geometries.With the geometry defined, it’s possible to follow the high-grademineralization down.”
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 $3.23 billion andtrades on the New York Stock Exchange (NYSE). It is on track toproduce 17 million ounces of silver in2024 .
“Dolly Varden is trading at about $1 an ounce in theground,” KhunKhun told GSN. “The average company trades about $4an ounce in the ground. If our exploration program continues to hithigh-grade silver as we have at Moose andChance , there is a strong likelihood that weare going to be revalued.”
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly VardenSilver, the “Qualified Person” as defined by NI43-101 hasreviewed, validated and approved the scientific and technicalinformation 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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