August 2024 was a pivotal month for Dolly Varden Silver Corp. (Ticker: DV.v, DOLLF for US investors). The company made significant progress in its exploration efforts at the Kitsault Valley Project in British Columbia, particularly at the Wolf Vein.
This vein, hosted in Jurassic-age Hazelton Formation volcanic rocks, has demonstrated a southwest plunging zone of wider, higher-grade silver mineralization. Recent drilling at the Wolf Vein extended the plunge extent by 40 meters, showcasing the vein’s potential. Intercepts shared by in August include:
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1,091 g/t silver over 9.38m, including a rich segment grading 2,505 g/t silver over 1.63m
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606 g/t silver over 16.20m, including 868 g/t silver over 2.27m
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771 g/t silver over 3.77m within a broader 15.02m zone grading 254 g/t silver
These results confirm the continuity and depth potential of the high-grade silver mineralization at the Wolf Vein, with mineralization appearing to strengthen as drilling progresses southwest.
Significant lead and zinc content were also observed within the silver-bearing veins, consistent with epithermal vein and breccia systems seen throughout the Kitsault Valley Project.
To support its aggressive exploration agenda, Dolly Varden also announced a major bought-deal financing initially set at $25 million, which was swiftly upsized to $28 million due to strong investor interest, particularly from notable industry figure Eric Sprott.
The financing will fund ongoing and future exploration efforts at the Kitsault Valley Project, including further drilling at the Wolf Vein and other high-priority targets. The successful completion of this financing underscores the market’s confidence in Dolly Varden’s exploration strategy and the potential of its projects in the highly prospective Golden Triangle region of British Columbia.
Dolly Varden's August 2024 activities demonstrate the company’s commitment to advancing its exploration projects with a focus on high-grade silver resources. The combination of strong drilling results and substantial financial backing positions the company for continued success as it seeks to unlock the full potential of its Kitsault Valley Project. The ongoing drill program is expected to yield further results, providing valuable insights into the scale and quality of the mineralization at the Wolf Vein and beyond.
More: https://dollyvardensilver.com/news
Posted on behalf of Dolly Varden Silver Corp.