Dolly Varden Moving Closer to Connecting two Major Deposits with Step-out Success at Wolf Vein

Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) announced drill results from the Wolf Vein, which includes drill hole DV23-368, a 75 meter step-out down plunge, which intersected 1,898 g/t Ag over 1.00 meters within 381 g/t Ag over 29.34 meters core length. Five drills have completed over 43,000 meters of the expanded 55,000 meter drill program at the Dolly Varden and Homestake Ridge areas. This release includes 19 drill holes from early season drilling at the Wolf.


  • Core DV23-368 tested at 381 g/t Ag over 29.34 meters, including 1,898 g/t Ag over 1.00 meter, a very strong result.
  • More success like this at Wolf makes it more likely Dolly is looking at a continuous vein system between its two major discoveries (Homestake and Dolly Varden).
  • Connecting Wolf and Dolly Varden deposits would effectively double the potential resource area.

Figure 1. Area of results released relative to Silver and Gold Deposits of Dolly Varden’s Kitsault Valley Trend

As the drilling progresses at Wolf we are seeing the continuity to depth of the high-grade silver mineralization. Drill hole DV-368 has extended the length of potentially underground bulk-mineable mineralization plunge to over 950 meters and it remains wide open for expansion, with ongoing drilling continuing to step-out to the south.Shawn Khunkhun, CEO, Dolly Varden Silver

Holes DV23-368 is a 75m step-out along plunge from drill hole DV22-320 that graded 321g/t Ag over 12.85 meters (February 6, 2023 news release). Drilling continues to expand the length of the Wolf Vein mineralization with consistent, high-grade silver mineralization within the wide vein breccia. The mineralization within the Wolf vein is comprised of multiple phases of brecciation within a northeast-southwest oriented epithermal vein system.

Initial holes at Wolf during the 2023 drill program tested between the widely-spaced holes completed the previous season and successfully intersected the vein structure both within and peripheral to the southwest plunge of the high grade silver mineralization. Drilling has been ongoing at Wolf since the start of the 2023 program and continues with infill and testing for extensions to the high-grade silver mineralization.

Drill hole DV23-359 is a 50 meter step-out from drill hole DV22-311 (See February 06, 2023 news release) that graded 412 g/t Ag over 12.80 meters, including 1,646 g/t Ag over 2.1 meters within a vein spay. Deviation in hole DV23-359 shallowed the planned dip, encountering the vein over 100m up dip from DV22-311. It intersected the Wolf splay vein as a 30 cm wide sulphide-rich vein (2.25%Pb over 0.50 meters core length). Subsequent drilling, with assays currently pending, intersected the subparallel vein splay vein on either side of DV22-311.

Drill holes DV23-347, 351, 354 and 356 are step outs targeting the eastern extension of the veins, collared east of the high-grade intercept of DV22-329 (See February 6, 2023 News Release). The drill holes did not intercept mineralization, suggesting that the vein breccia may have a more northeasterly strike and parallel the main host structure. It remains open to the northeast and will be drilled shortly.

Figure 2. Wolf Vein Longitudinal section with plunge of high-grade silver mineralization and DV23-368 step-out, 19 drill holes from 2023 with assays received shown in bold white


Figure 3. Drill hole DV22-368 (711.84m to 724.55m) from the Wolf Vein; multi-phase breccia vein style mineralization with argentiferous galena, argentite and native silver in a silica and bladed crystal


Figure 4. Drill hole DV22-368 (722.50m) native silver in interval grading 1,898 g/t Ag over 1.00 meter from the Wolf Vein


Figure 5. Wolf Vein Plan View showing Drill Hole locations, A-A’ long section position, bold white this release.

2023 Drill Program Update

The 15km long extent of the prospective Hazelton rocks on the property is host to numerous surface occurrences of alteration and silver mineralization that have been prioritized for drill testing. With the additional meters available under the current budget, drill holes have been planned at discovery-focused exploration targets. Currently, the drills are testing exploration targets peripheral to the Homestake Ridge deposits and will be moved down the valley to follow up on exploration targets beneath the sediment cap as well as at the southern end of the western Gold Belt that extends 10 kilometers from Homestake Ridge to Red Point.

* Assays reported are uncut. NSV denotes ‘No Significant Values’
**AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn

Table 1. Complete Drill Hole Assays from Wolf Vein


Table 2. Drill Hole Collars for 2023 Dolly Varden Wolf Area Drilling (this release)

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 to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. 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., Vice-President Exploration 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 for Dolly Varden on the Kitsault Valley Project.

Dolly Varden Silver is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.


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