Today, Dolly Varden Silver (DV.v DOLLF) announced that the step-out drilling at its Homestake Ridge intersected a new, high-grade gold zone with 79.49 g/t Au over 12.45m, including 1,335 g/t Au over 0.68m!
This discovery comes from DV's 2023 step-out drilling at Homestake and shows DV's ability to continue to deliver high-potential results from the premier, undeveloped gold-silver trend in Canada.
DV's VP of Exploration, Rob van Egmond, commented:
"The new high-grade gold and silver mineralization encountered in step out drilling to the northwest of Homestake Silver represents a significant breakthrough in further defining, upgrading and expanding the mineralization at Homestake Ridge,"
" This new zone remains open to the northwest, projecting towards the Homestake Main Deposit."
This release includes the remaining 48 drill holes and results from the 2023 drill program at DV's Kitsault Valley project in BC's Golden Triangle, a 140M-ounce high-grade and pure-silver resource.
Homestake Silver Step-Out Drilling
The high-grade gold and silver intersections are interpreted to be a new gold zone extending northwest at depth toward the Homestake Main Deposit with a second, targeted mineralized envelope encountered even deeper.
The new gold zone overlaps parallel with the known mineralized envelopes ~50m to the east with the zone remaining open to the northwest below historic drilling.
Drilling in 2024 will target a 350m-long gap between the Homestake Silver and Homestake Main Deposits to expand this new zone.
The 2023 drilling objective was to expand multiple, subparallel mineralized zones and to upgrade the Inferred Mineral Resources in the projected plunge of the wider, high-grade zone with drilling completed as primarily resource expansion drilling.
Based on its "right size, right grades, right jurisdiction and strong macro trend on the demand side for silver", DV provides a strong opportunity for investors by demonstrating a project that's economic and continuing to grow on a "per ounce in the ground basis" and that has attracted one of the best silver miners in the world as a corporate 15% shareholder.
Growing from a $20M market cap to a $200M in the last 3 years, DV has raised $65M from a range of top mining investors and 50% of the company is held by institutional miners including America's largest silver producer, Hecla Mining, as one of their top shareholders.
However, despite having grown its market cap by 10x and increased its share price by 300%, DV considers itself only 15% of the way through its journey at Kitsault due to the amount of prospectively and new discoveries remaining.
Posted on Behalf of Dolly Varden Silver Corp.