Dolly Varden drills 27.44 g/t gold over 9.16 metres at Homestake, British Columbia

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Dolly Varden Silver Corp. [DV-TSXV; DOLLF-OTCQX] reports drill results from the 100%-owned Homestake Ridge property in northwestern British Columbia’s Golden Triangle. The objective of drilling during 2022 at the Homestake Main and Homestake Silver deposits was to expanded multiple, subparallel mineralized zones and to upgrade Inferred Resources.

Highlights include (intervals shown are core length) drill hole HR22-314 that returned 4.27 g/t gold and 64 g/t silver (5.10 g/t AuEq) over 16.06 metres including 18.76 g/t gold and 193 g/t silver (21.49 g/t AuEq) over 3.08 metres.

HR22-322 returned 6.47 g/t gold and 27 g/t silver (5.83 g/t AuEq) over 6.00 metres. HR22-325 returned 7.18 g/t gold and 30 g/t silver, 0.49% copper (8.26 g/t AuEq) over 10.00 metres, including 20.20 g/t gold and 68 g/t silver (21.13 g/t AuEq) over 1.47 metres.

HR22-328 returned 27.44 g/t gold and 463 g/t silver (33.34 g/t AuEq) over 9.16 metres including 0.50 metres 216.00 g/t gold and 113 g/t silver, 0.48% copper (218.06 AuEq) over 0.50 metres.

HR22-330 returned 5.68 g/t gold and 147 g/t silver (7.48 g/t AuEq) over 15.00 metres, including 54.10 g/t gold, 4,890 g/t silver and 0.11% copper (113.25 g/t AuEq) over 0.39 metres.

HR22-337 returned 3.79 g/t gold and 2 g/t silver (3.84 g/t AuEq) over 21.00 metres, including 11.15 g/t gold and 5.00 g/t silver (11.22 AuEq) over 2.00 metres. HR22-339 returned 14.56 g/t gold and 4.00 g/t silver (14.63 g/t AuEq) over 2.50 metres.

“Our 2022 drill program has truly been exceptional. The recently acquired Homestake Ridge Deposit has delivered more high-grade gold and silver values, commonly with strong copper mineralization. These intercepts demonstrate strong continuity of mineralization over wide intervals, similar to the recently announced high-grade results at the Wolf and Kitsol Deposits, located six km to the south. We eagerly anticipate additional assays from all of Dolly Varden’s Deposits, as well as new exploration targets drilled during the 2022 program,” said Shawn Khunkhun, President and CEO.

These results are primarily infill drilling from areas of Current Inferred Mineral Resources and suggest that the higher-grade gold-silver lenses may be continuous over more extensive areas than previously interpreted. In addition, the drilling has generated new targets down-dip the Homestake Main deposit along the projected plunge of the higher grade shoots that are wide open for expansion. Oriented core was used on all drill holes on the project and this detailed structural data is also being integrated in to the geological model to further increase confidence. Additional assays from the Homestake Main and Silver Deposits are pending

Dolly Varden Silver is focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle, 25 km by road to tide water. The 163 km2. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).

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