Dolly Varden Silver Corp. (Ticker: DV.v or DOLLF for US investors) is making significant strides in its exploration efforts at the Kitsault Valley project, located in British Columbia's prolific Golden Triangle.
The company recently reported impressive drill results from its ongoing step-out drilling campaign, further extending the known high-grade silver mineralization at the Wolf Vein.
These results are part of a broader 25,000-meter drill program aimed at expanding and infilling the high-grade zones within the project, which continues to demonstrate its substantial potential.
One of the standout drill results included a 40-meter southwest step-out at the Wolf Vein, which intersected 1,091 grams per tonne (g/t) silver over 9.38 meters.
This has not only confirmed the continuity of high-grade silver mineralization but also highlighted an increase in base metal content, which suggests the mineralization remains open at depth.
In a strategic move to bolster its exploration activities, Dolly Varden recently upsized its bought-deal financing to $28 million, with significant participation from prominent investor Eric Sprott.
The proceeds from this financing will be utilized to accelerate exploration and drilling at Kitsault Valley, specifically targeting the expansion of high-grade silver zones at the Wolf Vein and other key areas within the project.
The company's Vice President of Exploration, Rob van Egmond, emphasized the high-risk, high-reward nature of step-out drilling, which has already yielded promising results.
The ongoing exploration efforts are expected to further increase Dolly Varden's resource base, positioning the company as an increasingly attractive target for larger North American-focused precious metal producers.
Dolly Varden’s strategic focus on advancing the Kitsault Valley project, combined with its strong financial backing, underscores its commitment to unlocking the full potential of its high-grade silver and gold assets.
With a substantial portion of the recent financing allocated to exploration, the company is well-equipped to continue its aggressive drilling program throughout the 2024 season, aiming to deliver significant growth in its mineral resource estimates and shareholder value.
Full news: https://dollyvardensilver.com/dolly-varden-silver-announces-upsize-of-bought-deal-financing-to-28-million-with-participation-by-eric-sprott/
Posted on behalf of Dolly Varden Silver Corp.