Vancouver, British Columbia (FSCwire) - Dolly Varden Silver Corporation
(TSX.V: DV | U.S.: DOLLF) (the “Company” or “Dolly Varden”) is pleased to report drill assays results from its 2016
field program on the Dolly Varden project in northwestern BC. The program included 2,311.6 meters of core drilling as well
as surface mapping and sampling.
The program achieved its goals of:
- Confirming growth potential of the Torbit resource area with the intersection of multiple mineralized zones
including 2.0 meters of 2,488.5 grams of silver per tonne (g/t silver) within a broader intercept of 19.4 meters grading 485
g/t silver. Multiple areas of the high-grade resource remain open for expansion.
- Verifying the mineralization potential on Ace-Galena, one of many highly prospective exploration areas on the
Dolly Varden property by intersecting 405.7 g/t silver over 3.25 meters. This extends the mineralized horizons an
additional 300 meters northeast-ward along strike, completing evaluation on just ten percent of the six-kilometer prospective
trend.
- Collecting data for analysis that could further quantify both the significant lead and zinc mineralization not
currently included in the maiden National Instrument 43-101 (“43-101”) resource estimate and bolster potentially conservative
specific gravity assumptions. Completion of both data sets presents an opportunity to grow the current mineral
resources.
- Mapping and sampling of surface alteration occurrences and anomalies that provide data for further
prioritization and de-risking of exploratory targets including, but not limited to, Ace-Galena, Chance, Kitsol, and
Musketeer.
“While the size of our exploration program for 2016 was modest, we leveraged every opportunity to gather
information that supports the long-term growth and expansion of estimated mineralization on the project; both within the
current 43-101 resource area and at highly prospective regional exploration targets. Both have the potential to increase
value for shareholders,” said Rosie Moore, Interim President and CEO of Dolly Varden.
A maiden National Instrument 43-101 mineral resource estimate was announced in August 2015 covering the four
historic deposits on the property; Torbrit, Dolly Varden, Wolf, and North Star. The total estimated mineral resources for
the four deposits are summarized below:
MINERAL RESOURCES
|
TONNES
|
GRADE (grams of silver per tonne)
|
SILVER OUNCES (contained)
|
Indicated
|
3,073,000
|
321.6
|
31,778,000
|
Inferred
|
898,500
|
373.3
|
10,784,000
|
This high-grade mineral resource estimate over the Dolly Varden deposits remains open to expansion and infill
(for further detail refer to Dolly Varden news release dated August 27, 2015). In performing the mineral resource
estimate, Dolly Varden noted multiple zones within the resource shapes where no data existed.
Five drill holes in the 2016 field program were targeted to test these areas. Assays for these holes are as
follows:
Hole
|
Target
|
From (m)
|
To (m)
|
Length (m)
|
Ag (g/t)
|
Pb (%)
|
Zn (%)
|
DV16023
|
Torbrit
|
37.05
|
80.55
|
43.50
|
51.32
|
0.20
|
1.71
|
|
including
|
75.05
|
79.05
|
4.00
|
316.90
|
0.49
|
2.33
|
DV16024
|
Torbrit
|
hole lost in workings above target
|
DV16025
|
Torbrit
|
139.09
|
162.80
|
23.71
|
23.55
|
0.18
|
0.04
|
|
including
|
160.00
|
161.00
|
1.00
|
307.00
|
0.09
|
0.02
|
DV16034
|
Torbrit
|
101.00
|
111.76
|
10.76
|
257.61
|
0.43
|
0.23
|
|
including
|
103.00
|
109.00
|
6.00
|
367.17
|
0.67
|
0.26
|
DV16035
|
Torbrit
|
29.00
|
47.00
|
18.00
|
139.33
|
0.15
|
0.15
|
|
including
|
36.90
|
38.90
|
2.00
|
252.11
|
0.25
|
0.11
|
|
and
|
97.40
|
116.80
|
19.40
|
485.04
|
0.28
|
0.10
|
|
including
|
97.40
|
99.40
|
2.00
|
2488.50
|
0.21
|
0.13
|
|
and
|
129.10
|
134.10
|
5.00
|
357.40
|
0.33
|
0.90
|
*True widths unknown but likely less than drill intercept widths.
The 2016 drilling on the Ace-Galena trend followed up on successful drilling from 2015 (for further detail refer
to Dolly Varden news release dated December 23, 2015) and moved further northward, confirming and extending the mineralized
horizons an additional 300 meters along strike, completing the evaluation of only ten percent of the six-kilometer prospective
trend. The detailed drill results are listed below:
Hole
|
Target
|
From (m)
|
To (m)
|
Length (m)
|
Ag (g/t)
|
Pb (%)
|
Zn (%)
|
DV16026
|
Ace-Galena
|
78.50
|
100.58
|
22.08
|
16.55
|
0.66
|
0.63
|
DV16027
|
Ace-Galena
|
102.50
|
130.90
|
28.40
|
10.08
|
0.23
|
0.44
|
|
including
|
128.24
|
130.90
|
2.66
|
77.87
|
1.28
|
0.11
|
DV16028
|
Chance
|
45.10
|
64.50
|
19.40
|
1.01
|
0.02
|
0.10
|
DV16029
|
Ace-Galena
|
127.13
|
174.90
|
47.77
|
13.21
|
0.03
|
0.11
|
|
including
|
140.06
|
159.00
|
18.94
|
30.58
|
0.09
|
0.34
|
DV16030
|
Ace-Galena
|
165.57
|
177.50
|
11.93
|
3.30
|
0.22
|
0.56
|
DV16031
|
Ace-Galena
|
66.34
|
132.80
|
66.46
|
59.97
|
0.12
|
0.10
|
|
including
|
94.00
|
97.25
|
3.25
|
405.77
|
0.12
|
0.16
|
DV16032
|
Ace-Galena
|
No significant intercept
|
DV16033
|
Ace-Galena
|
No significant intercept
|
Mineralization at Ace Galena is contained in a bedded, variably-calcareous sedimentary volcaniclastic package - the Trout
Zone - composed of argillaceous silt- to sandstone, diamictite, grey limestone, variably muddy tuffaceous sandstone, and
epiclastic felsic tuff. This volcaniclastic package dips moderately to the northwest. The entire trend is denoted by a broad
sodium depletion and potassium enrichment delineated by surface lithogeochemical sampling and airborne radiometric data.
About Dolly Varden - Dolly Varden Silver Corporation is a mineral exploration company focused on
the exploration of the Dolly Varden silver property located in northwestern British Columbia, Canada. The 8,800-hectare Dolly
Varden project is located 25 kilometers by road north of the deep tidewater port town of Alice Arm and was mined for high grade
silver in the 1920’s and late 1950’s. Dolly Varden Silver has controlled the project since 2011, with the first several
years of field work focusing on the historic deposits. The entire Dolly Varden property is considered to be highly
prospective for hosting high-grade precious metal deposits, since it comprises the same structural and stratigraphic setting
that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Company’s common shares are
listed and traded on the Toronto Venture Exchange under the symbol DV and on the OTCBB system under the symbol DOLLF.
Technical Information
Rory Kutluoglu, P. Geo. and Vice President of Exploration for Dolly Varden, serves as a Qualified Person as
defined under National Instrument 43-101 and approved the scientific and technical information about the Dolly Varden project
contained in this news release. Quality assurance and quality control procedures include the systematic insertion of
blank, standard and duplicate samples into the drill sample string. Samples are placed in sealed bags and delivered directly to
the ALS Minerals preparatory laboratory in Terrace, BC. Further information regarding the Dolly Varden property can be found in
the Company’s Technical Report entitled “2015 Technical Report for the Dolly Varden Property” with an effective date of
September 30, 2015, which includes a mineral resources estimate on the Dolly Varden Silver Project. The Technical report
was filed on SEDAR on October 8, 2015 and is also available on the Company’s website.
FORWARD-LOOKING STATEMENTS:
This release may contain forward-looking statements or information. Forward-looking statements involve known and
unknown risks, uncertainties, and other factors which may cause the actual outcome, results, performance, or achievements of
Dolly Varden to be materially different from any future outcome, results, performance, or achievements expressed or implied by
the forward-looking statements. Forward looking statements or information relate to, among other things, the assumptions and
inferences drawn from our drilling program (including assay results), field program, our knowledge and inferences of the
geology of the project, our mineral resource estimates, our belief that the existing mineral resource estimate can be expanded,
and adding further value. These forward-looking statements are based on management’s current expectations and beliefs, but
given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking
statements or information. The Company disclaims any obligation to update, or to publicly announce, updates to forward-looking
statements and information, events or developments except as required by law. For additional information on risks and
uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A”), which is available
on SEDAR at www.sedar.com and on the Company’s website at www.dollyvardensilver.com. The risk factors identified in the MD&A are not intended
to represent a complete list of factors that could affect the Company.
Neither the TSX.V nor its Regulation Services Provider (as that term is defined in the policies of the TSX.V)
accepts responsibility for the adequacy or accuracy of this news release.
Contact Information:
Dolly Varden Silver Corporation
Rosie Moore, Interim CEO and President
Rory Kutluoglu, Vice President Exploration
Phone: +1 778 379 9502
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/DollyV11232016_0.pdf
Source: Dolly Varden Silver Corporation (TSX Venture:DV, OTC Pink:DOLLF)
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