Dolly Varden Silver Corp. has began its 99-hole drilling marketing campaign at one of many largest high-grade and undeveloped treasured metallic belongings within the Golden Triangle.
Junior explorer Dolly Varden Silver Corp. (DV:TSX.V; DOLLF:OTCQX) has began its 30,000-meter, 99-hole drilling marketing campaign within the Kitsault Valley in northwest British Columbia’s Golden Triangle.
The corporate is using three diamond drill rigs to improve and increase assets on the development made up of a number of deposits and historic mines, and to find new silver and gold mineralization.
“Once we go to infill, the purpose right here is to maneuver half of these ounces into the measured indicated class,” President and Chief Government Officer Shawn Khunkhun advised Streetwise Stories. “And I believe what is going to occur is, we’ll additionally perceive the controls of the system, which can allow us to information the opposite 50% of the exploration program, which is the actually thrilling a part of this system the place we are able to actually transfer the needle.”
Dolly Varden’s Kitsault Valley venture hosts an indicated useful resource of 34.7 million ounces (34.7 Moz) of silver and 166,000 ounces of gold with further inferred assets of 29.3 Moz of silver and 817,000 ounces of gold inside a number of outcropping deposits.
The property, comprised of Dolly Varden within the south and Homestake Ridge within the north, covers 163 sq. kilometers. In a strategic transfer, the corporate acquired Homestake Ridge from Fury Gold Mines, thereby consolidating the 2 adjoining properties. It’s one of many largest high- grade and undeveloped treasured metals belongings within the Golden Triangle.
Connecting Mineralized Tendencies
With backing from shareholder Hecla Mining Co. (HL:NYSE), the corporate has CA$25 million within the financial institution. Due to aggressive exploration prices, it’s only utilizing about CA$12 million of that for the drilling, Khunkhun mentioned.
“We have three rigs turning proper now,” he mentioned. “And I am actually pleased with the best way we began this system. We have a fantastic, nice staff on website.”
The corporate mentioned it’ll put together a NI43-101 compliant Up to date Mineral Useful resource Estimate for the Kitsault Valley venture after this 12 months’s marketing campaign, which can embody Dolly Varden drill outcomes since 2018 and Homestake Ridge drill outcomes from 2022. The Up to date Mineral Useful resource Estimate will then be the premise for a Preliminary Financial Evaluation (PEA) of the mixed venture.
The corporate mentioned it intersected 354 grams per ton of silver (g/t Ag) over 12.28 meters at Kitsol within the valley in 2021, and 1,220 g/t Ag over 0.7 meters at Torbrit North Zone.
The Crucial Investor mentioned it could “be very attention-grabbing to see if the 2022 applications might probably join mineralized tendencies between the Homestake and Dolly Varden/Torbrit deposits, by rising the person deposits and discovering new ones.”
“I view the consolidated Kitsault Valley PEA, though it will take some time, as an essential benchmark for indicating the consolidated venture economics,” the analyst wrote for Streetwise Stories. “The worth of the venture appears to have likelihood on bettering beforehand, by exploration potential, and leverage to treasured metallic costs.”
Let Exploration Be the Information
Khunkhun mentioned Dolly Varden is making an attempt to be “surgical” concerning the drilling however is letting exploration success information additional drilling.
“You are available in with a plan, however based mostly on success, you begin tweaking it,” he mentioned. “We’ll be reporting outcomes beginning in August, and I can see them coming all through till February.”
Dolly Varden has a market cap of CA$138.94 million and 220.5 million shares excellent. It trades in a 52-week vary of CA$0.88 and CA$0.42.
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