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 significantly expanded both the width and extent of the reinterpreted high-grade silver and gold mineralized plunge.
Stand-out intersections include 3.95m of 357g/t AgEq (the length of a city block) and 9,422 g/t AgEq over 1.02m.
Notably, two drill holes revealed more geological information about the surrounding area, including a down dip spacing of 105m on the vertical cross-section.
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."
In developing its 100% held Kitsault Valley Project, a large, high-grade and pure silver project spanning 163 square km, DV acquired Homestake in 2022 which doubled the size of its project as it had "about million ounces of gold, mainly in the inferred category, and about 18 million ounces of silver all in the inferred category” at the time.
The finalized results for 47 of the 115 drill holes from the 2023 exploration program have yet to be released.
Predictions for the 2024 silver market have demand being driven by manufacturing needs for solar panels as its innovation has reached an inflection point, with 25-150% more silver is needed for the future generation of solar panels.
With this in mind, the silver deficit is expected to continue with the metal expected to keep going strong for the foreseeable future.
Boasting strategic investments from Hecla Mining and Eric Sprott, the quality of DV's management and project is clear with a number of catalysts expected in the near future.
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 and 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.