Today, Dolly Varden Silver (DV.v DOLLF) announced the closing of its $15 million bought-deal public offering with participation by Eric Sprott!
DV CEO Shawn Khunkhun commented:
"We are grateful for the continued support from key shareholders including Eric Sprott. Having already established one of the richest undeveloped high-grade silver and gold projects in Western Canada, these funds will enable the Company to continue to follow up on the newly discovered high-grade gold at Homestake and the wide and high-grade silver deposits at Wolf and the past producing Torbrit mine,"
With this, DV is now fully financed for all 2024 exploration, positioning the company for a range of catalysts as the gross proceeds will be used for further exploration, mineral resource expansion and drilling in the Kitsault Valley Project, DV's flagship project.
Advancing One of the Largest High-Grade Undeveloped Precious Metal Assets
Located in BC's Golden Triangle, an known for its mineral wealth and historical mining activity, the Kitsault Valley Project covers an area of 163 square km and boasts a 140M oz high-grade and pure-silver resource combining the Homestake Silver Deposit and Dolly Varden Mine.
Prospective for hosting further precious metal deposits, Kitsault is on the same structural and stratiagraphic belts that host numerous other high-grade deposits including the Eskay Creek Mine and Brucejack.
This is significant because, Eskay Creek started as a high-grade silver mine until the later discovery of a strong gold system turned it into a producer of both silver and gold, becoming Canada's highest-grade gold mine in producing over 3M oz of high-grade gold and the 5th largest silver mine in the world with the production of over 160M oz of silver.
Notably, Kitsault has already shown high-grade gold potential reminiscent of Eskay Creek and similar to Brucejack with the discovery of 'bonanza-style gold assay results'.
Aiming to unlock the full potential of its silver and gold resource, DV is preparing for a fully funded 30,000m drill program with a minimum of 3 rigs turning to determine the extent of this new gold zone.
With multiple priority one targets, one third of DV's targets are located in the new gold zone at Homestake Ridge where 11,000m of drilling is planning.
Another 10,000m of drilling are planned at Wolf which is a pure high-grade silver zone similar to the Torbrit mine, the third largest silver mine in Canada.
Fully Funded for 2024 Exploration
Earlier this month, DV announced a $15 million bought-deal public offering which Eric Sprott has publicly indicated his intention to participate in.
Given there are not a lot of primary silver projects out there, DV provides a unique opportunity for investors to capitalize on a well-funded primary silver mine in a safe jurisdiction with incredible validation from a range of big mining names, as detailed by Khunkhun during an interview with Resource Talks (starting at 2:08:51): https://youtu.be/_SGZUmSBC6c?si=FmZt0JazOu50bHdh&t=7731 Posted on Behalf of Dolly Varden Silver Corp.