Mining
Thursday, August 15th, 2024 2:38 pm EDT
Key Points
- Wolf Vein Drilling Results: Dolly Varden Silver reported high-grade silver results from the Wolf Vein step-out drilling, intersecting 1,091 g/t silver over 9.38 meters, with further assays pending from additional step-out holes.
- Directional Drilling Technology: The company is using directional drilling to efficiently target high-potential areas in its Kitsault Valley Project, which includes silver, gold, copper, and other mineral resources.
- Exploration Program and Growth Potential: Dolly Varden has mobilized three drill rigs for a 25,000-meter diamond drilling program, focusing on the Wolf and Homestake Silver deposits, aiming to enhance its mineral resource estimates and increase its value through high-grade discoveries.
Vancouver, BC – August 15, 2024 – TheNewswire – Global Stocks News – Sponsored content disseminated on behalf of Dolly Varden Silver. On August 12, 2024 Dolly Varden Silver (TSXV:DV) (OTC:DOLLF) announced the first results from the Wolf Vein step-out directional drilling.
Dolly Varden Silver is advancing its 100% held Kitsault Valley Project, located in the Golden Triangle of British Columbia, Canada. The 163 sq. km. project hosts high-grade silver and gold resources. The recently consolidated Big Bulk project 5 km to the east is prospective for porphyry and skarn style copper and gold mineralization.
The 40-meter southwest Wolf Vein step-out intersected 1,091 g/t silver over 9.38 meters, with significant base metal grades. (intervals shown are core length, true width is estimates to be 60 to70%).
“Step-out holes are higher risk and higher reward than infill drilling,” Rob van Egmond, P.Geo., VP Exploration for Dolly Varden Silver explained to Guy Bennett, the CEO of Global Stocks News (GSN). “There is a possibility that a step-out hole will be dead, which cuts off your speculation.”
“The upside with a step-out hole is that it may reveal something new,” van Egmond continued. “In this case, we are exploring a mineralised plunge that is returning high grade results, and appears to be getting wider, as we go deeper.”
“We are seeing significant native silver in the core. Metallurgically speaking, that makes it easier to extract the silver from the rock.”
Figure 1 below: Plan of Wolf Vein mineralized zone (in red) with all drilling to date. Lithology shown on drill trace – grey: sedimentary rock, green: volcanic rock, pink/red: mineralization.
Dolly Varden Silver is using directional drilling technology to precisely target areas for step-out and infill work.
“Directional drilling allows you to position the drill bit exactly where you want it to be, without re-drilling hundreds of meters from the surface,” van Egmond told GSN. “It’s an ideal technique for us to explore the Wolf Vein.”
Drillhole DV24-404 is the initial “mother” hole on a step-out collared at surface from which three additional “daughter” holes were directed off at depths near the base of the sedimentary cap (DV24-409, 412 and 414).
This animated video by Horizontal Technology gives a technical overview of directional drilling.
“A skilled driller can direct the course of the drill bit along a pre-planned path over great distances,” reports Horizontal Technology.
For the current program, DV Silver has contracted Omineca Diamond Drilling, based in Burns Lake. Omineca’s drill rigs can be converted to heli-portable fly configurations required in remote locations.
“To drill efficiently in the Kitsault Valley, you need good contractors,” confirmed van Egmond. “If there’s a drill rig malfunction, the repair parts are probably already in camp. If they need to be ordered, Omineca delivers them to site within eight hours.”
“In a drill camp, downtime destroys budgets,” said van Egmond. “Omineca, along with other remote logistical support, is helping us achieve our drilling quotas.”
On August 1, 2024 Khunkhun spoke to Shae Russell about Dolly Varden.
“If you can make discoveries, that is where I see value creation,” Khunkhun told Russell.”
“Along with size, we believe we may have the quality and the grade,” Khunkhun told GSN. “The August 12, 2024 Wolf Vein drill results advance our company objectives.”
DV’s precious metal inventory has increased 300% in the last four years through acquisition. Exploration drilling done after 2019 will be added in on the next property wide mineral resource estimate
Key Highlights of 2024 Drilling Program:
- Three drill rigs mobilised
- Initial 25,000 meters diamond drilling planned
- Focus on Homestake Silver and Wolf Deposits
- Follow up on new discoveries
“Exploration drilling is important for Dolly Varden,” van Egmond told GSN. “We see growth potential on the property. There’s a lot of unexplored areas, and surface showings that deserve attention. The allocation of this summer’s exploration meters includes four or five targets.”
“Dolly Varden is trading at about $1.80 an ounce in the ground,” KhunKhun told GSN. “The average company trades about $4 an ounce in the ground. If our exploration program continues to hit high-grade silver as we have at the Wolf Vein, there is a likelihood that we are going to be revalued.”
The directional drilling steered the holes to intersect the Wolf Vein at specific points that were a minimum of 30 meters apart. Assays are pending for the three “daughter” holes.
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this GSN release.
Disclaimer: Dolly Varden Silver paid GSN CND $1,500 for the research, creation and dissemination of this content.
Contact: guy.bennett@globalstocksnews.com
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