After its latest mission acquisition, this Canadian mining firm boasts one of many Golden Triangle’s largest undeveloped treasured metals properties, a big whole mineral useful resource, and compelling exploration upside.
Dolly Varden Silver Corp. (DV:TSX.V; DOLLF:OTCQX) had an extremely busy February and isn’t slowing down any time quickly. Provided that administration constantly delivers what it says it can and given the explorer’s prospects, it’s no surprise Bob Moriarty of 321gold simply chosen the corporate as a 2022 high junior inventory.
“[The company] is totally sensible, the addition of Fury is nice,” Moriarty stated in a latest interview. “You have received the potential for much greater silver, and definitely Dolly Varden goes to be one of many main silver shares.”
Centered on Consolidated Properties
The Canadian mining firm is actively working to advance its 163-square-kilometer Kitsault Valley silver-gold mission, one of many largest high-grade and undeveloped treasured metals property in British Columbia’s (B.C.’s) Golden Triangle. This space, the southern portion, is well-known for its treasured and base metals deposits. The jurisdiction is each mining pleasant and geopolitically secure, a uncommon benefit for a primarily silver firm.
Kitsault Valley is comprised of two parts: Dolly Varden within the south and Homestake Ridge within the north. In a strategic transfer, the corporate acquired Homestake Ridge late final yr from Fury Gold Mines, thereby consolidating the 2 adjoining properties. Combining them additionally creates economies of scale and exploration and improvement synergies. Technical reviews have been ready and are publicly obtainable on each properties.
Current Mineral Assets
The Dolly Varden portion of Kitsault Valley boasts 4 recognized deposits, Wolf, North Star, Dolly Varden and Torbrit, the latter two being previous producers.
About 86,000 meters (86,000m) have been drilled on the Dolly Varden property since 2017, which resulted in new discoveries. As an example, 2021 drilling at Torbrit recognized huge intervals of mineralization that join Torbrit with lesser drilled North Star to the west.
An up to date useful resource estimate for Dolly Varden accomplished in 2019 amounted to 44,000,000 (44 Moz) of silver in whole, comprised of 32.9 Moz of silver of Indicated sources and 11.477 Moz of silver Inferred.
Nonetheless, solely 3% of the Dolly Varden property has been explored extensively. This implies vital potential for extra discoveries there exists.
Kitsault Valley’s different half, Homestake Ridge, comprises three recognized deposits: Homestake Foremost, Homestake Silver and South Reef. The roughly 90,000m of drilling accomplished at Homestake Ridge to this point resulted in a 2014 whole Indicated and Inferred useful resource, of high-grade gold and silver plus copper and lead, of 6,280,000 tons.
The Indicated mineral useful resource of Dolly Varden and Homestake Ridge mixed consists of 34.7 Moz of silver and 166,000 ounces (166 Koz) of gold. The mixed Inferred useful resource is made up of 29.3 Moz of silver and 817 Koz of gold.
Given its present whole useful resource of 138 Moz of silver equal, Dolly Varden Silver is buying and selling at $1 per ounce within the floor. Thus, the corporate presents buyers pure leverage to silver.
2022 Drilling Plan
This yr, Dolly Varden Silver intends to drill between 30,000m and 50,000m at Kitsault Valley, which is three to 5 instances the quantity accomplished in 2021.
About 75% of 2022 drilling can be a mixture of infill, to improve the present mineral sources, and stepout, to check for mineralization of the recognized deposits at depth and out of doors the present sources.
The remaining 25% can be exploration drilling. The first goal is the brand new unexplored, consolidated border between Wolf and South Reef, the roughly 5.4 kilometers trending towards the gold and silver deposits at Homestake Ridge. The prospects are good in gentle of geological and geochemical modeling indicating the potential for extra deposits on this space.
As soon as drilling is full, Dolly Varden Silver will put together a brand new useful resource estimate for the mixed Kitsault Valley mission. The report will incorporate Dolly Varden drill outcomes since 2018 and Homestake Ridge drill outcomes from 2022.
As for funds, Dolly Varden Silver is well-situated to undertake this formidable work plan. It is because it’s elevating $10 million ($10M) in capital through a flow-through non-public placement, introduced earlier in March. It additionally has $5.3M that it acquired from Hecla Mining in February.
Dolly Varden Silver goals to proceed growing shareholder worth by additional derisking Kitsault Valley and making new discoveries on its huge B.C. land package deal.
1) Doresa Banning compiled this text for Streetwise Reviews LLC and gives companies to Streetwise Reviews as an impartial contractor. She or members of her family personal securities of the next firms talked about within the article: None. She or members of her family are paid by the next firms talked about on this article: None.
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