VANCOUVER, BC, Jan. 31, 2022 /CNW/ - Dolly Varden Silver Corporation ("Dolly Varden" or the "Company") (TSXV: DV) (OTC: DOLLF), is pleased to announce drill results from the 2021 program at the Torbrit Silver deposit at the Dolly Varden Project. The purpose of this program was to upgrade Inferred Mineral Resources and to step-out from the multiple Zones that comprise the Torbrit Deposit, the largest of the four deposits that comprise the Mineral Resources on the Property.
Figure 4: 3D view of 2019 Torbrit resource block model (grey) with 2021 infill and step out drill holes (red), looking east (CNW Group/Dolly Varden Silver Corp.)
Figure 5: Plan of 2021 Drill Hole locations relative to Resource block model (dark grey shaded area) (CNW Group/Dolly Varden Silver Corp.)
Figure 6: Torbrit to North Star stratabound debris-style volcanogenic-related (syngenetic) mineralization connection, DV21-253 254, 255, 256 and 257 section, looking northeast (CNW Group/Dolly Varden Silver Corp.)
Figure 7: DV21-256 Silica and barite-rich syngenetic mineralization connecting Torbrit and North Star Deposits (CNW Group/Dolly Varden Silver Corp.)
Silver mineralization was encountered in most areas tested, usually with significant accessory zinc and lead values and commonly over widths suggesting potential amenably to bulk underground mining. Highlights include:
DV21-274: 12.28m true width averaging 354 g/t Ag at Kitsol
DV21-275: 18.27m true width averaging 230 g/t Ag at Kitsol
DV21-275: 0.70m drilled length averaging 1,220 g/t Ag at Torbrit North Zone
DV21-277: 16.00m drilled length averaging 212 g/t Ag (incl. 4.70m of 507g/t Ag) at Torbrit
DV21-278: 5.10m drilled length averaging 364 g/t Ag at Torbrit Main
"Multiple holes intersecting over 4000 gram-meters of silver over wide intervals within the Kitsol epithermal vein is certainly encouraging, and the identification of wide intervals of syngenetic mineralization that connects the main Torbrit Deposit with the lesser drilled North Star Deposit to the west is also very significant. The next phase of drilling to commence this spring will include targetting high-grade silver shoots within this wide horizon, as well as step-outs to the north and south at Kitsol," said Rob Van Egmond, Chief Geologist for Dolly Varden.
"These results, as well as the previously released extension of the high grade silver mineralization at the Wolf deposit demonstrate the continued resource expansion potential within the two kilometer long gap between the known deposits on Dolly Varden property. These intercepts corroborate our geological and geochemical modelling suggesting that the continuity of the prospective mineralized horizon between our historic mines and current deposits of the Dolly Varden Project, but also within the 5.4 kilometer-long unexplored area trending towards the gold and silver deposits at Homestake Ridge," said Shawn Khunkhun, CEO of Dolly Varden Silver. "Additionally, the proposed acquisition of the Homestake Ridge deposits will consolidate this significant trend for the first time in the +110 year mining history of the Golden Triangle".
A total of 10,506m in 31 diamond drill holes were completed at Dolly Varden during the 2021 field season of which 6,838m in 21 holes tested the high-grade Torbrit Silver Deposit (including Kitsol). The 21 holes were drilled as part of a two-phase program with the objective of expanding Resources as well as upgrading current Inferred Resources to Measured and Indicated Classification. Results for the 10 holes that tested five regional exploration targets on the Property including the Wolf Vein extension and Western Gold-Copper Belt have been previously released (see December 20, 2021 news release).
The 2021 drilling at Dolly Varden initiated the Company's two-year strategy to aggressively expand and upgrade the Torbrit Silver Deposit and multiple satellite zones with the objective of advancing Dolly Varden to be the next high-grade silver mine in British Columbia.
Kitsol and Torbrit Extension Drilling
At the Kitsol vein, a three hole fan was completed to expand, infill and upgrade mineralization intersected wide intervals of epithermal-vein style mineralization. Additionally, these holes tested the northward extension of the Torbrit horizon at depth and to the east of Kitsol. Drill hole DV21-274 intersected 705 g/t Ag, 0.65% Pb and 0.28% Zn over 3.70m (2.97 true width) within a wider interval of15.28m (12.28m true width) grading 354 g/t Ag, 0.38% Pb and 0.48% Zn in the epithermal Kitsol vein between 134.85m and 150.13m.
Drill hole DV21-275 had a wide interval through the Kitsol vein averaging 220 g/t Ag, 0.79% Pb and 0.49% Zn over 23.88m (18.27 true width) as well as through the down plunge step-out from the Torbrit North Resource, intersecting 1,220 g/t Ag over 0.70mcore length at 362.05m to 362.75m depth. Of interest in hole DV21-275 was a 2m interval of core grading 5.4 g/t Au from 204m to 206m depth and could be an important vector during 2022 resource expansion drilling at Kitsol and towards the Western Gold belt trending to Homestake Ridge.
Mineralization along the northward projection of the Torbrit horizon was encountered in all three holes below the Kitsol Vein and confirms a synform of the Hazelton volcanic rocks that host the signature volcanogenic-related elevated potassic alteration under the center of the valley. Of significant importance is the presence of high grade silver mineralization along the horizon outside of the current resource.
Target
Hole ID
From (m)
To
(m)
Core Length (m)
True width (m)
Ag
(g/t)
Pb
(%)
Zn
(%)
Au (g/t)
Kitsol
DV21274
134.85
150.13
15.28
12.28
354
0.38
0.48
including
142.00
145.70
3.70
2.97
705
0.65
0.28
Torbrit extension
DV21274
368.75
370.32
1.57
*
86
0.29
0.15
including
369.75
370.32
0.57
*
131
0.35
0.11
Kitsol
DV21275
157.12
181.00
23.88
18.27
220
0.79
0.49
including
157.12
170.5
13.38
10.24
230
1.31
0.74
including
157.12
160.15
3.03
2.32
297
1.31
1.26
Au in Alteration zone
DV21275
204.00
206.00
2.00
?
5.4
Torbrit extension
DV21275
361.45
362.75
1.30
*
725
NSV
NSV
including
362.05
362.75
0.70
*
1220
NSV
NSV
Kitsol
DV21276
221
248
27.00
12.34
7.6
0.08
0.13
including
242.5
244
1.50
0.69
17
0.59
0.52
Torbrit extension
DV21276
Geochem marker
394.5
*
true width for the Torbrit Horizon is estimated at 90% to 100% of core length, using angle to core from oriented core data.
Table 1: Kitsol Infill and Torbrit Extension drilling results
Torbrit Western Connection to North Star
Wide intervals of stratabound debris-style volcanogenic-related mineralization (syngenetic) was discovered in a previously unknown northwest plunging extension of the Torbrit horizon to the west of the main Resource. Silver mineralization is associated with lead and zinc locally within the horizon in ratios similar to the North Star deposit. North Star is one of the four deposits that make up the Dolly Varden Mineral Resource Estimate with 1.99M oz Ag at an average grade of 263 g/t Ag in the Indicated and 35Koz Ag grading 224 g/t Ag in the Inferred category.
Three step-out drill holes (DV21-255, 256 and 257) identified the horizon. DV21-256 intercepted a zone averaging 262 g/t Ag, 0.28% Pb and 0.43% Zn over a 3.00mcore length. Also noted in the results is gold and copper mineralization in association with the horizon but as more epithermal style as seen on the western gold belt leading north to the Homestake deposits. In drill hole DV21-255 a 0.95m interval graded 1.23% Cu and 0.39g/t Au within a section of epithermal crosscutting mineralization.
Target
Hole ID
From (m)
To (m)
Core Length* (m)
Ag (g/t)
Pb (%)
Zn (%)
Au (ppm)
Torbrit
DV21253
98.5
114.04
15.54
28.64
0.49
0.46
NSV
Torbrit North
DV21253
445.18
451.5
6.32
30.5
0.38
0.61
NSV
Torbrit
DV21254
107.1
119
11.90
135
1.21
1.99
NSV
including
107.1
109.6
2.50
156
3.38
2.50
NSV
including
111
115
4.00
215
0.42
1.50
NSV
including
112
113
1.00
449
0.79
0.64
NSV
Torbrit/North Star
DV21255
208
224.24
16.24
4
0.07
0.25
NSV
including
220.05
221
0.95
13
NSV
0.13
0.39
Torbrit/North Star
DV21256
227.5
246.35
18.85
66
0.17
0.63
0.16
including
230.5
233.5
3.00
262
0.28
0.43
NSV
Torbrit/North Star
DV21257
249.88
279.83
29.95
5
0.10
0.43
NSV
including
249.88
252
2.12
14
0.80
2.43
NSV
*
true width for the Torbrit Horizon is estimated at 85% to 95% of core length, using angle to core from oriented core data.
Table 2: Torbrit Resource Area Infill and west Step Out, North Star connection results
Torbrit Main and Torbrit North offset Infill and expansion Drilling
The objective of the 2021 near resource drilling was to test the extents of the mineralized lenses within the Torbrit Resource area in areas that had relatively widely spaced resulting in Inferred Classification of the Resource block model. Table four summarizes all the remaining intervals from the initial phase of this drilling. Torbrit remains open along the folded plunge of the deposit to the North and South along the prospective volcanogenic related mineralized horizon, and now within the connected area towards North Star. The area is poorly tested to the east due to increasing topography on the east side of the Kitsault Valley.
Target
Hole ID
From (m)
To (m)
Core Length (m)
Ag (g/t)
Pb (%)
Zn (%)
Torbrit
DV21249
128
162
34.00
31
0.05
0.15
including
135.05
137
1.95
158
0.22
0.46
Torbrit North
DV21249
407
428
21.00
162
0.24
0.19
including
410.85
412
1.15
605
0.85
0.10
including
421.25
425
3.75
307
0.42
1.30
Torbrit
DV21250
159
178.27
19.27
3
0.02
0.07
Torbrit North
DV21250
417.9
437
22.05
Torbrit
DV21251
110.65
113.4
2.75
6
NSV
NSV
Torbrit North
DV21251
328.15
353.1
24.95
12
0.03
0.10
Torbrit
DV21252
127.5
158
30.50
78
0.47
0.03
including
136
139
3.00
256
1.49
0.72
Torbrit North
DV21252
458
465.45
7.45
Torbrit
DV21258
72
102.45
30.45
7
0.05
0.25
Torbrit
DV21258
184.54
190
5.46
143
0.11
0.12
including
185.5
188
2.50
274
0.08
0.12
Torbrit
DV21259
87
133
46.00
8
0.12
0.48
including
121
131
10.00
17
0.35
1.21
Torbrit
DV21259
243
244.62
1.62
155
NSV
NSV
Torbrit
DV21260
128.87
129.87
1.00
274
0.33
4.26
including
128.87
129.37
0.50
473
0.55
8.28
Torbrit
DV21261
69.73
71.83
2.10
206
0.25
0.45
including
69.73
70.23
0.50
575
0.32
0.92
Torbrit
DV21262
20
24.04
4.04
10
0.03
0.05
and
58.4
66
7.60
6
0.03
0.10
Torbrit
DV21263
14.95
24.5
9.55
12
0.07
0.13
and
51.5
53
1.50
9
0.82
3.42
Torbrit South
DV21277
152
153
1.00
297
NSV
NSV
Torbrit South
DV21277
165
181
16.00
212
0.36
0.19
including
174
178.7
4.70
507
0.43
0.16
Torbrit
DV21278
101.5
113.8
12.30
90
0.95
1.51
including
104.7
110.3
5.60
131
1.37
1.46
including
113.3
113.8
0.50
258
2.06
0.26
Torbrit
DV21278
120.5
143.7
23.20
112
0.95
0.20
including
120.5
125.6
5.10
364
2.45
0.13
including
124.5
125.1
0.60
1095
7.70
0.29
Torbrit
DV21279
81.5
84.4
2.90
70
0.25
0.74
Torbrit South
DV21279
152.7
155.85
3.15
60
1.13
0.15
including
155
155.85
0.85
128
0.21
0.07
*
true width has not been determined as there is insufficient drilling to model the orientation of the diffuse sheeted veins
Table 3: Torbrit Resource Area Infill and Step Out results
Hole ID
Target
Zone
Easting NAD 83
Northing NAD 83
Elevation (m)
Azimuth
Dip
Depth (m)
DV21-249
Torbrit
467853
6171644
354.8
55
-69
470
DV21-250
Torbrit
467853
6171644
354.7
55
-79
491
DV21-251
Torbrit
467871
6171626
357.5
55
-55
404
DV21-252
Torbrit
467871
6171626
357.5
55
-77
509
DV21-253
Torbrit
467890
6171606
360.2
55
-76
476
DV21-254
Torbrit
467890
6171606
360.2
35
-70
191
DV21-255
Torbrit
467890
6171606
360.2
235
-74
257
DV21-256
Torbrit
467890
6171606
360.2
235
-60
287
DV21-257
Torbrit
467890
6171606
360.2
235
-50
304
DV21-258
Torbrit
467802
6171767
352.7
45
-50
227
DV21-259
Torbrit
467802
6171767
352.7
45
-75
380
DV21-260
Torbrit
467998
6171524
399.1
85
-47
190
DV21-261
Torbrit
467998
6171524
399.1
85
-73
200
DV21-262
Torbrit
467998
6171524
399.1
45
-60
365
DV21-263
Torbrit
467998
6171524
399.1
65
-45
169
DV21-274
Kitsol/Torbrit
467543
6172134
404.3
100
-45
409
DV21-275
Kitsol/Torbrit
467543
6172134
404.3
100
-62
449
DV21-276
Kitsol/Torbrit
467543
6172134
404.3
100
-76
467
DV21-277
Torbrit
468220
6171349
534
55
-44
201
DV21-278
Torbrit
468220
6171349
534
60
-62
191
DV21-279
Torbrit
468220
6171349
534
60
-84
200
Table 4: 2021 Torbrit Resource Area Infill and Step Out program: drill hole location data
Current Mineral Resource Estimate
Dolly Varden Property Mineral Resource Estimate is reported in pure silver, lead and zinc credits have not been included.
Category*
Deposit
Cut-off**
(g/t Ag)
Tonnes
Silver
(g/t)
Contained
oz*** Ag
Indicated
Torbrit
150
2,623,000
296.8
25,025,000
Dolly Varden
150
156,000
414.2
2,078,000
Wolf
150
402,000
296.6
3,834,000
North Star
150
236,000
262.8
1,994,000
Total Indicated
3,417,000
299.8
32,931,000
Inferred
Torbrit
150
1,185,000
278.0
10,588,000
Dolly Varden
150
86,000
271.5
754,000
Wolf
150
9,500
230.6
70,000
North Star
150
4,800
223.6
35,000
Total Inferred
1,285,300
277.0
11,447,000
*
Indicated and Inferred Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the inferred resource as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading the resource to a measured resource category. There is no guarantee that any part of the mineral resource discussed herein will be converted into a mineral reserve in the future.
**
A 150 g/t Ag lower cut-off was chosen to reflect conceptual underground mining and processing cut-off grade.
***
Contained oz may not add due to rounding.
Quality Assurance and Quality Control
The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.
Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed and a 500 gram split is pulverized to minus 200mesh. Multi-element analyses were determined by Inductively–Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is determined by Fire Assay on a 30g split.
Qualified Person
Rob van Egmond, P.Geo., Chief Geologist for Dolly Varden Silver, the "Qualified Person" as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on exploration in northwestern British Columbia. Dolly Varden has two projects, the namesake Dolly Varden silver property that hosts a unique pure silver mineral resource as well as the nearby Big Bulk copper-gold porphyry property. The 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 high-grade deposits (Eskay Creek, Brucejack). Dolly Varden has recently entered into an agreement with Fury Gold Mines to acquire the Homestake Ridge Project adjacent to the current property to consolidate the Kitsault Valley Gold-Silver mineralization trend into one large, high-grade precious metals project with vast exploration upside. The Big Bulk property is prospective for porphyry and skarn style copper and gold mineralization similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential" and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, completion of the Offering, Exchange approval of the Offering, the use of proceeds with respect to the Offerings, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our beliefs about the unexplored portion of the property. 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, any such statements, 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. 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 Venture Exchange 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.
SOURCE Dolly Varden Silver Corp.
Shawn Khunkhun, CEO & Director, 1-604-602-1440, www.dollyvardensilver.com
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