Dolly Varden Silver's (DV.v DOLLF) CEO Shawn Khunkhun joined Resource Stock Digest to discuss their recent growth as "the fastest growing established silver producer in the world and its large, high-grade silver and gold endowment in Canada": https://www.youtube.com/watch?v=HUGJn4jeL2I Amid a recent broad-based rally in commodities, gold, silver and copper have experienced substantial gains which, highlighting the significant impact of silver price increases, has provided DV with $75 million in free cash flow generated from the price rise from $23 to $27.
With a $23 million budget and a 30,000 meter drill program, DV's exploration plans aim to expand and extend their discoveries which have already resulted in multi-ounce gold and silver intercepts at DV's Kitsault Valley Project.
Further, attesting to DV's ability to raise money at a high share price during the bull market and hinting at the possibility of a substantial buyout offer before the end of the year, Eric Sprott's recent $15 million investment and public endorsement of DV are significant, as he raised a quarter of the industry's funds during the bear market in 2018 and 2019.
The Next Brucejack? The Next Eskay Creek?
Located in BC's Golden Triangle, an area 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'.
Unlocking the Full Potential
Aiming to unlock the full potential of its silver and gold resource, DV's fully funded 30,000m drill program will see 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.
Posted on Behalf of Dolly Varden Silver Corp.