DV CEO on Rick Rule's 2024 Rule Symposium Preview
Amid the recently commenced 25,000m drill program at its 100% owned Kitsault Valley Project, 140M high-grade and pure-silver resource, Dolly Varden Silver's (DV.v DOLLF) CEO joined Rick Rule for his "2024 Rule Symposium Preview" to discuss Kitsault's expansion potential: https://www.youtube.com/watch?v=70r1zJbpJfM
Located in BC's Golden Triangle an area known for its mineral wealth and historical mining activity, Kitsault combines the Dolly Varden Mine and Homestake Silver Deposit.
With three rigs mobilized to test for new discoveries and follow up on high-grade silver mineralization encountered in 2023, the Moose Vein, Chance Vein and North Start Deposit step-out are DV's initial targets for its program.
As there is a 5.5km gap between Dolly Varden and Homestake, drilling is aimed to test the potential connection between the projects' two deposit areas. As previous exploration results from the Moose Target and Homestake have shown promising results, these is significant potential for expansion.
The Catalyst: Resources Expected to Increase
Following the announcement of this exploration program, Research Capital Corp. analyst Stuart McDougall's raised his target price for DV, rating it a Speculative Buy:
"We are raising our target price to (CA)$1.45/share from (CA)$1.35/share to reflect our expectations for a 25% increase to existing project resources, net of a higher share count for (CA)$25 (million) worth of equity financings completed since our last update and for our future equity assumptions, priced in the context of the current market,"
Technical Analyst Clive Maund additionally commented that DV could see some upward movement due to a possible "major upleg" that could begin immediately in gold and silver stocks as 'a fine countertrend Pennant has formed over the past month that has brought it back to support above its rising 50-day moving average and unwound its earlier overbought condition.
Offering investors a "big silver equivalent resource in British Columbia's Golden Triangle to leverage rising silver prices and exciting, discovery-driven growth", DV has additionally drawn the attention of Bob Moriarty from 321Gold.com and the Golden Opportunities Newsletter as silver spot prices continue to see growth amid a supply deficit expected to extend into a fourth consecutive year in 2024.
For more information, refer to DV's latest feature on Streetwise Reports: https://www.streetwisereports.com/article/2024/05/28/co-looks-for-more-high-grade-silver-golden-triangle.html
Latest News Release: https://stockhouse.com/news/press-releases/2024/05/27/three-drill-rigs-turning-on-dolly-varden-silver-s-kitsault-valley-project
Posted on Behalf of Dolly Varden Silver Corp.