Dolly Varden Silver Achieves Step-out Success with New Assay Results

Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) is pleased to announce drill results from the Wolf Vein.

Drill hole DV23-375, an 81 meter step-out from mineralization encountered in 2022 and 50 meters below DV23-268 (Sept. 11, 2023 news release) that intersected a wide breccia vein zone.

In addition, initial drilling at the Moose Vein, 1.5 kilometers North of Wolf, intersected silver mineralized veining similar to the system at Wolf.


  • DV23-375, Southwest Extension step-out: 461 g/t AgEq* (296g/t Ag, 1.68% Pb, 3.01% Zn) over 26.99 meters, including 2,260 g/t AgEq* (1,475g/t Ag, 10.65% Pb, 12.00% Zn) over 0.50 meter from an 81 meter step-out
  • DV23-379, Southwest Extension infill: 287 g/t AgEq* (247g/t Ag, 0.40% Pb, 0.73% Zn) over 18.21 meters, including 1,170g/t AgEq (1,125g/t Ag, 0.14% Pb, 1.09% Zn) over 0.50 meters

Highlights from initial drilling at the Moose Vein, located 1.5 kilometers from Wolf Vein within the 5.4 kilometer long belt of silver mineralization **:

  • DV23-371: 712 g/t Ag over 1.00 meter within a 7.55 meters length interval averaging 269 g/t Ag

1AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn, assays are uncut

Reported intervals are drill core length; true widths vary from 50 to 85% of core length interval. The dip of the Wolf Vein at depth, and the Moose Vein have insufficient data to define accurate dip (tables 1 and 2).

The results we are seeing from the Wolf Vein continue to demonstrate depth continuity of the high-grade silver mineralization as well as an increase in base metal content. Drill hole DV23-375 has extended the plunge length to over 950 meters with increased thickness of the potentially underground bulk-mineable mineralization and it remains wide open for expansion. With over 70 drill holes remaining to be assayed and announced we eagerly await their results.Shawn Khunkhun, President and CEO

A total of 51,454 meters was completed during 2023 in 115 drill holes at the Dolly Varden and Homestake Ridge areas with 23,923 of those from the Dolly Varden Project area. The Contractor’s drills have been demobilized and the exploration camp has been winterized. This release includes eight holes from Wolf and four holes from Moose. A total of 31 holes for 15,860 meters were drilled at Wolf in 2023.

Figure 1. Location of Wolf and Moose Veins as well as significant Silver and Gold Deposits of Dolly Varden’s Kitsault Valley Trend. Suggested 1.5km periodicity of cross-valley silver bearing veins


Holes DV23-375 is an 81m step-out down plunge from drill hole DV22-320, that intersected 321g/t Ag over 12.85 meters (see Feb. 6, 2023 news release) and 50 meters below DV23-268 that intersected 381 g/t Ag over 29.34 meters (see Sept. 11, 2023 news release). Wolf Vein mineralization has consistent, high-grade silver mineralization within a wide multi phase vein breccia within a northeast-southwest oriented epithermal vein system. The mineralization and alteration encountered at the Wolf Vein system is becoming wider in the southwest step-outs and the dip of the system is steepening at depth.

Drill hole DV23-379 intersected silver mineralization 25 meters above DV22-320 and was planned infill between DV22-320 and DV23-368; this hole did not deviate as much as other holes typically do and thus intersected the Wolf Vein closer to DV23-320 than planned.

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 at Wolf during the 2023 program consisted of infill and testing for extensions to the high-grade silver mineralization.

Drill holes DV23-366, 367 and 370 are located on the northeast extension of the Wolf structure and encountered strong potassic alteration and narrow vein stockwork with anomalous lead and zinc associated with the extension of the Wolf structure.

Drill holes DV23-364 and 366 tested the limits outside of the wider and higher-grade silver shoot and encountered the Wolf structure with minor veining and strong alteration.

Figure 2. Wolf Vein Longitudinal section with plunge of high-grade silver mineralization and DV23-375 step-out, assays received in this release shown in bold white
Figure 3. Drill hole DV23-375 (743.00m to 768.25m) from the Wolf Vein hanging wall side; wide, multi-phase breccia vein style mineralization with argentiferous galena, argentite and native silver
Figure 4. Wolf Vein Plan View showing Drill Hole locations, A-A’ long section position, bold white this release.
Figure 3. Drill hole DV23-371 (141.75m) Moose Vein textures similar to Wolf Vein with silver sulfosalts and argentiferous galena in bands

Complete Drill Hole Assays from Wolf Vein

Hole ID From To Length*
Ag (g/t) Pb (%) Zn (%) Au
DV23-379 719.89 738.10 18.21 247 0.40 0.73 287
719.89 728.67 8.78 430 0.39 0.46 459
including 724.30 724.80 0.5 1125 0.14 1.09 1170
Foot wall 729.17 738.10 8.93 78 0.44 1.03 131
DV23-376 784.50 857.85 73.35 10 0.50 0.52 45
stkwrk 784.50 845.12 60.62 5 0.28 0.57 35
including 825.73 826.75 1.02 72 7.13 1.36 344
Hanging Wall 845.12 852.60 7.48 34 2.47 1.02 149
Foot Wall 852.60 857.85 5.25 31 0.20 0.35 50
DV23-375 747.16 774.15 26.99 296 1.68 3.01 461
747.16 757.90 10.74 371 2.82 4.99 647
including 751.80 752.30 0.5 1475 10.65 12.00 2260
Foot Wall 765.75 774.15 8.4 328 1.38 1.96 445
DV23-370 52.67 53.17 0.5 102 0.41 0.06 117
and 168.21 168.71 0.5 48 0.48 1.20 108
DV23-369 478.80 480.00 1.2 9 1.31 1.10 91
and 512.63 513.13 0.5 21 0.14 4.85 209
DV23-367 68.75 69.30 0.55 119 0.12 0.08 126
and 132.15 132.75 0.6 2 0.06 0.08 1.83 158
DV23-366 107.85 108.35 0.5 67 1.30 0.05 110
and 140.00 140.77 0.77 281 0.48 0.08 299
and 207.75 208.55 0.8 32 1.67 0.40 99
DV23-364 263.61 289.33 25.72 7 0.37 0.22 27
including 268.30 268.81 0.51 33 1.93 0.82 123
including 269.70 270.56 0.86 21 3.46 0.87 161
Hole ID From To Length*
Ag (g/t) Pb (%) Zn (%) Au
DV23-371 140.15 147.70 7.55 269 0.38 0.13 285
including 144.00 145.00 1 712 0.29 0.19 728
and 168.30 171.50 3.2 42 1.86 0.72 127
DV23-372 132.63 137.25 4.62 14 0.57 0.28 42
including 133.30 134.50 1.2 24 1.76 0.94 114
DV23-373 73.90 74.66 0.76 27 1.64 1.10 120
90.00 94.08 4.08 19 0.56 0.41 52
DV23-374 30.60 32.35 1.75 39 0.93 1.17 112


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.

About Dolly Varden Silver Corporation

Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).


Dolly Varden Silver is a market awareness client of Capital 10X.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Duane Hope is a Partner at Capital 10X, he brings over 15 years of communications and research experience to the firm. His research and writing have appeared in publications for North American, European and Asian audiences.


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