DV up on High Volume Amid Gold Potential (Article Summary) Today DV.v is trading up 8% on almost 2x its average volume
Is Dolly Varden Silver on the cusp of a significant transformation, potentially evolving from its historical roots as a silver powerhouse into a burgeoning gold entity? As highlighted by Bob Moriarty of 321gold.com in an article released today, recent assay results certainly suggest so.
Renowned for its ownership of one of Canada's historic highest-grade silver mines, Dolly Varden Silver recently unveiled assay results that have set the investment community abuzz. With gold grades reminiscent of the nearby "legendary" Eskay Creek Mine, the company finds itself at a pivotal juncture. Moriarty's analysis delves into the implications of these findings, raising the intriguing question: Is it time for Dolly Varden Silver to consider a name change reflective of its expanding gold endowment?
The parallels drawn between Dolly Varden Silver and the famed Eskay Creek Mine are striking. Situated near Skeena Resources' revived Eskay Creek Project, Dolly Varden's Homestake Project, acquired from Fury Gold Mines in 2021, has yielded promising results. Drill assays reveal gold grades that rival those of Eskay Creek's heyday, showcasing the potential for a significant gold resource. Highlights include remarkable grades of 79.49 grams per tonne gold and 60 grams per tonne silver over 12.45 meters, among others.
Dolly Varden Silver's resource base stands poised for a substantial update following a fully funded 2024 drill program, with over CA$40 million invested in exploration since the last resource estimate in 2019. The current resource estimate, predominantly silver, is supplemented by a burgeoning gold component, projected at approximately 1.5 million ounces gold equivalent.
However, it's not just the geological potential that commands attention. Dolly Varden Silver's tightly held share structure presents an intriguing investment proposition. Institutional ownership, coupled with strategic investments from industry stalwarts such as Hecla Mining and Eric Sprott, leaves a mere 7% float for retail investors.
Given this, Moriarty argues that should generalist investors return to the precious metals sector, the scarcity of available shares could catalyze a significant uptick in demand, potentially propelling Dolly Varden Silver to new heights.
Dolly Varden Silver's recent foray into high-grade gold territory has captured the imagination of investors and industry observers alike. With assay results evoking comparisons to the illustrious Eskay Creek Mine, the company finds itself at a crossroads. As it navigates this juncture, the prospect of a name change to reflect its evolving gold endowment looms large.
With a robust resource base, tightly held shares, and a promising future ahead, Dolly Varden Silver emerges as a compelling contender in the realm of precious metals mining.
Full article here: https://www.streetwisereports.com/article/2024/03/04/is-this-silver-stock-a-potential-gold-powerhouse.html
Posted on behalf of Dolly Varden Silver Corp.