Dolly Varden drills 1.22 metres of 1,532 g/t silver at Dolly Varden Project, British Columbia

Dolly Varden Silver Corp. [DV-TSXV; DOLLF-OTC] has released drill results from regional exploration and reconnaissance drilling at its 100%-owned Dolly Varden Project near tidewater in the upper Kitsault Valley, northwestern British Columbia, with particularly encouraging results from the Wolf Vein, as well as the identification of large, new porphyry related copper-gold system.

At the Wolf Deposit, drill hole DV21-273 tested the southwest projection of the Wolf Vein, 94 metres down plunge from the current Mineral Resources, intersecting 1,532 g/t silver, 0.44 g/t gold, 2.11% lead and 1.07% zinc over 1.22 metres within a brecciated sulphide-rich quartz vein hosted within a broader pyrite stockwork breccia zone of 17.50 metres averaging 214 g/t silver and 0.47% lead.

The current NI 43-101 Resource Estimate hosts 3.83 million oz silver at 296 g/t in the Indicated category at Wolf. It is located approximately 2 km northwest of the 25.0 million oz silver in the Indicated Category and additional 10.5 million oz silver in the Inferred category at the Torbrit Deposit.

In other regional exploration drilling, Dolly Varden’s technical team is encouraged by long intervals of stockwork quartz with strongly anomalous gold (>100 ppb) over wide intervals (up to 303 metres) along with silver and copper at the Western Gold Belt Area. The company plans geophysical surveys for porphyry-style mineralization and subsequent follow-up drilling in this area.

“This high-grade silver intercept at Wolf demonstrates the excellent exploration and resource expansion potential on the property,” said Shawn Khunkhun, CEO. “The next phase of exploration drilling will prioritize connecting our historic mines and current deposits of the Dolly Varden Trend with the deposits at Homestake 5.4 km northwest along the Kitsault Valley Trend that comprise the recently announced proposed acquisition from Fury Gold Mines. Additionally, the strong indicator of porphyry related gold-copper-silver style indicators potentially the most significant exploration breakthrough on the property in years.”

A total of 10,506 metres in 31 diamond drill holes were completed at Dolly Varden during the 2021 field season. Results have been received for 10 holes that tested five regional exploration targets on the property including the Wolf Vein extension and Western Gold-Copper Belt. Assays will be announced in the near future for the 21 holes completed at the high-grade Torbrit and Kitsol Silver Deposits. The 21 near-Resource holes were drilled as part of a two-phase program with the objective of expanding resources as well as upgrading current Inferred Resources to Measured and Indicated Classification.

The 2021 drilling at Dolly Varden initiated the company’s two-year strategy to aggressively expand and upgrade the Torbrit Silver Deposit and multiple satellite zones with the objective of advancing Dolly Varden to be the next high-grade silver mine in British Columbia.

On the Western side of the Kitsault Valley, three holes (DV21-267, 268 and 269) tested the Red Point target with structures related to a gold-in-soil anomaly within the southern end of the Western Gold belt quartz, sericite, pyrite (QSP) alteration zone. Drilling intercepted wide zones of stockwork veins with strongly anomalous gold, silver and copper mineralization.

One drill hole tested the potassic alteration zone at Silver Horde, about 900 metres north of Wolf. The structure returned 9.0 metres averaging 126.7 g/t silver..

The Dolly Varden Project consists of the Dolly Varden silver property as well as the nearby Big Bulk copper-gold porphyry property. Dolly Varden recently entered an agreement with Fury Gold Mines Ltd. [FURY-TSX, NYSE American] to acquire the Homestake Ridge Project adjacent to the Dolly Varden property to consolidate the Kitsault Valley gold-silver mineralization trend into one large, high-grade precious metals project.