Today, Dolly Varden Silver (DV.v DOLLF) announced drill results from its 2023 program at the Homestake Silver Deposit in BC's Golden Triangle which saw the intersection of 93.95m of 357 g/t AgEq including 9,422 g/t AgEq over 1.02m and expanding the Homestake Silver High-Grade Trend.
The 23 drill holes reported a total of 12,150m of drilling target priority zones within the deposit and have significantly expanded the width and extent of the reinterpreted high-grade silver and gold mineralized plunge.
DV CEO, Shawn Khunkhun, commented:
"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 amendable to bulk underground mining methods,"
"Results from additional step-out holes to the north of these intercepts are being finalized and are expected to be announced shortly."
As detailed by DV's VP of Exploration, "Applying what was learned from the structural reinterpretation work at the Homestake Main gold zone to the existing wider spaced drilling at Homestake Silver Zone has led to the discovery of high-grade pathways within a continuous mineralized envelope with average precious metal grades above the average resource grades and over much wider intervals than expected,"
The finalized results for 47 of the 115 drill holes from the 2023 exploration program have yet to be released.
The Homestake Ridge Deposit is part of DV's 100% owned Kitsault Valley Project, a large, high-grade and pure silver project spanning 163 square km in the Golden Triangle that additionally hosts the Dolly Varden Depsot.
Notably, the Golden Triangle has a strong history and marks the richest 20km on the planet for gold, silver and copper mineralization.
Growing from a $20M market cap to a $200M in 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.
Despite having grown its market cap by 10x, 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, Khunkhun concludes.
Amid a macro market that is seeing a worsening supply-demand balance as silver production is now declining double digits annually for the first time in almost a decade due to the world's largest silver producer on track to mine all of its existing reserves within two year, DV is strongly positioned to become a major silver player.
Posted on Behalf of Dolly Varden Silver Corp.