Mining Explorers 2013: Dolly Varden Silver Corp.
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Last updated 11/3/2013 at Noon
DV: TSX-V
President and CEO: Ron Nichols
Chairman: John King Burns
Vice President, Exploration: Paul McGuigan
Dolly Varden Silver Corp. is developing the historic Dolly Varden Silver Mines property located about 26 kilometers (17 miles) from Alice Arm, B.C., in northwestern British Columbia. In 2012, the junior attracted a C$3.2 million strategic investment from silver producer Hecla Mining Co. in exchange for a 19.9 percent equity interest in the company.
During the first half of 2013, the junior defined a comprehensive field program and won board approval for a C$3 million exploration program.
Field crews were mobilized to site in mid-June in preparation for 3,000 meters of diamond drilling and surface mapping programs.
The Dolly Varden property hosts four deposits with historic resources totaling 14.5 million ounces silver in stratigraphy analogous to Barrick Gold Crop.'s Eskay Creek Deposit.
The junior's 2013 goals included defining a new silver resource estimate around the existing workings of the 7.9-million-ounce historic Torbrit deposit and extending the mineralization to the northwest; demonstrating that Torbrit is part of a much larger volcanogenic massive sulphide system that points to a potentially larger and more extensive silver and gold-rich target, located just northwest of Torbrit at the Red Point zone; and continuing to gather geotechnical information that will improve the probability of finding an Eskay Creek-type deposit at Red Point.
Cash and short-term deposits: C$3.4 million (June 30, 2013)
Working capital: C$3.95 million (June 30, 2013)
Market capitalization: C$19.7 million (Sept. 27, 2013)
910 - 355 Burrard St
Vancouver, BC
Canada V6C 2G8
Tel: 778-383-3083
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