Dolly Varden hits 304 g/t silver over 45.82 metres in Golden Triangle, BC
Dolly Varden Silver Corp. [DV-TSXV; DOLLF-OTCBB] on Tuesday February 16 released the remaining assays from 2020 drilling at its namesake property, which is located near tidewater in northwestern British Columbia. The work completed last year included infill and step-out drilling at the Torbit Deposit as well as regional mapping, surface sampling and exploration drilling.
Highlights from drilling at Torbit include 45.82 metres of 304 g/t silver, including 642 g/t silver over 4.0 metres.
On Tuesday, Dolly Varden shares advanced on the news, rising 3.0 % or $0.02 to 71 cents in light trading volume. The shares are currently trading in a 52-week range of $1.17 and 16.5 cents.
The company has two projects, including the namesake Dolly Varden silver property and nearby Big Bulk copper-gold property. Since December, 2016, the company has been operating under the direction of management provided by the experienced Belcarra Group Management Ltd.
Dolly Varden owns 100% of the Dolly Varden Mines silver property. It covers 8,800 hectares and hosts four historically active mines.
The entire Dolly Varden property is considered to be highly prospective for hosting high-grade precious metal deposits since it comprises the same structural and stratigraphic setting that hosts numerous other on-trend, high-grade deposits, including Eskay Creek and Brucejack.
The property is also considered to be an advanced exploration stage project with targets that are well understood. However, the company has said mine restarts will require the discovery of additional silver resources and the confirmation of historic resources that were known at the cessation of mining in 1959.
The high-grade silver deposit at Torbit hosts the largest 43-101 mineral resource of the three silver deposits at the Dolly Varden Project. The company says Torbit continues to show its potential as the most significant silver deposit on the property and is considered to be among the most advanced silver assets in Canada, with further room for expansion at depth and along strike.
At total of 11,397 metres in 40 holes were completed last year at Dolly Varden. Of that amount, 19 holes were completed in the Torbit area and 21 reconnaissance and exploration drill holes were drilled, testing multiple areas on the property.
Khunkhun also said the company isn’t ruling out the potential for a gold discovery consistent with the plus million-ounce resource at the adjacent Homestake property, in addition to the potential for another Torbit-like silver discovery, he said.