The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
DV: TSX-V
President and CEO: George Heard
Chairman: John King Burns
Vice President, Exploration: Ron Nichols
Dolly Varden Silver Corp. started 2014 by prioritizing drill-ready targets at the company's Dolly Varden property, located 26 road-kilometers (16 miles) from the community of Alice Arm in northwestern British Columbia.
An early season geophysical program helped identify targets within three corridors: Torbrit-Red Point, an Eskay-Creek style target; Musketeer, which has numerous silver-rich epithermal vein-type showings with strong potassic radiometric signatures; and Wolf-Surprise, where silver-enriched volcanogenic massive sulfide mineralization was identified by drilling in 2011.
This work was followed up by a geochemical survey that involved the collection of 970 soils, 28 silts, and six heavy mineral samples over selected areas on the property.
The company said this work identified multi-element anomalous trends along the prospective sediment-volcanic contact of the Salmon River Formation in areas with no previously known showings.
The sampling also returned a strong geochemical response within the airborne radiometric anomaly that has been outlined on the east side of the Kitsault River, which the company believes could outline trends that related to structurally controlled epithermal mineralization.
Dolly Varden said anomalous gold-silver results from silt samples taken north of the gridded area underlain by Salmon River Formation add to the property's prospectivity.
A second phase of step-out and infill geochemical sampling started in September.
Geologic and structural mapping was also completed in preparation for a late-season 2014 drill program.
A C$5.7 million financing that closed in mid-August funded a late-season drill program of up to 8,000 meters at the company's namesake silver project.
The 20-hole program is designed to test numerous defined drill-ready epithermal and Eskay-Creek style targets, as well as expand known silver mineralization on the Torbrit-Red Point corridor, where 2013 drilling cut a 17.1-meter interval grading 509 grams per metric ton silver.
Cash and short-term deposits: C$ 386,116
(June 30, 2014)
Working capital: C$483,406 (June 30, 2014; C$5.7 million financing completed
Aug. 15, 2014)
Market capitalization: C$21.9 million
(Sept. 10, 2014)
910 - 355 Burrard St.
Vancouver, BC Canada V6C 2G8
Tel: 778-383-3083
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