Dolly Varden Silver (TSX-V:DV, StockForum), engaged in the acquisition, exploration, evaluation and development of exploration and evaluation assets, announced today that the company had completed final assays at their Torbrit mine in Northwestern BC. The results showed high-grade silver mineralization at the historic site that had already produced 18.5 million troy ounces of silver in the 1950's.
According to the news release, “2013 Torbrit underground geological mapping and sampling shows the silver mineralization was introduced in multiple stages. Mid- and late-stage mineralization introduce much greater concentrations of native silver into the Torbrit structure, and onto the sea-floor, in successively repeating and overlapping events, adding significantly to the total silver grade.”
Vice-president of Exploration, Paul McGuigan commented, “Ongoing interpretation of Dolly Varden's recent drill results indicates that the DVT exhalite horizon is comprised of at least two mineralized horizons and that most of the historic production at the Torbrit "Main Zone" was sourced from the lowermost horizon.”
McGuigan went on, “The 2013 exploration has resulted in the discovery of a separate mineralized horizon, stratigraphically above the historically mined areas. This upper horizon (the Torbrit "Upper Zone") is comprised of mixed stockwork, VMS & exhalite mineralization. Drill intersections from the "Upper Zone" contain similar silver grades and thicknesses to the past production from the lower horizon.”
He then summed up, “Furthermore, the very highest grade intersections are interpreted to cut the Torbrit Main Zone and Upper Zone at a high angle, and are interpreted as discrete panels of the highest grade silver.”
Dolly Varden Silver was in the news recently when the company intersected 11.5m of 674 g/t Ag at their property in Northwest BC.
Shares were down 4.35% on the news to $0.11 per share.
Currently there are 131,397,919 shares outstanding with a market cap of $14.45 million.