DV.v Unveils Exceptional Homestake Drill Results As the silver-gold ratio surpasses 87-1, the current market dynamics further favor silver, with projections of a record-setting year for global industrial demand. Falling silver production in Mexico and the recession-proof nature of the photovoltaic industry contribute to the positive outlook for silver.
Dolly Varden Silver Corporation (TSXV:DV) (OTC:DOLLF) announced groundbreaking drill results today from its 2023 program at the Homestake Silver deposit in BC's Golden Triangle. The company revealed an impressive intersection of 357 grams/tonne silver equivalent over a staggering length of 93.95 meters, marking a significant expansion of high-grade silver and gold mineralization.
Homestake's substantial resource, with approximately one million ounces of gold and 18 million ounces of silver, has become a focal point for the company's exploration efforts. Utilizing "oriented core" drilling techniques, DV Silver is gaining structural insights into the veins, allowing them to develop a comprehensive model.
The Homestake Silver drilling campaign, comprising 23 drill holes totaling 12,150 meters, has not only expanded the width and extent of the high-grade silver and gold mineralized plunge but also uncovered a potential zone amenable to bulk underground mining methods.
Shawn Khunkhun, CEO of Dolly Varden Silver, emphasized the significance of these findings, stating, "The 2023 drilling at Homestake Silver has identified a substantial zone of exceptional precious metal grades, often typified by multiple phases of silver and gold mineralization, over wide, continuous intervals that are potentially amenable to bulk underground mining methods." He added that bulk mining generally leads to lower costs and increased efficiency.
DV Silver's commitment to creating an efficient, highly mechanized mine with a low All-In-Sustaining-Cost (AISC) aligns with the goal of maximizing tonnage per day and ounces mined. The company's focus on wider mineralization zones at Homestake Silver, similar to those at Homestake Main, sets the stage for a robust mining operation.
Results from additional step-out holes are still pending, promising further insights into the extent of the mineralization. As DV Silver continues to unfold the potential of the Homestake deposit, investors can anticipate further exciting developments in the company's exploration journey.
Additionally, the recent investment by Hecla Canada, increasing their stake to 15.7%, underscores confidence in DV Silver's growth potential. Khunkhun noted, "Hecla has demonstrated it is a sticky shareholder, looking to expand their North American silver portfolio." This investment aligns with the broader context of increasing global industrial demand for silver, driven by sectors such as photovoltaics.
Full Press Release Here: https://newsdirect.com/news/dolly-varden-silvers-dv-v-homestake-drill-results-a-substantial-zone-of-exceptional-precious-metal-grades-456131360
Posted on behalf of Dolly Varden Silver Corp.