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Updated resource, model for Dolly Varden

 

Last updated 5/17/2019 at 5:15am

High grade silver historic mine project near Stewart British Columbia

Dolly Varden Silver Corp.

Core from drilling into the Dolly Varden-Torbrit Horizon, a nearly continuous sheet of sediment exhalative- (SEDEX) style mineralization that runs from the past-producing Dolly Varden mine through the historical underground workings at North Star and into the Torbrit mine to the east.

Dolly Varden Silver Corp. May 8 published an updated mineral resource estimate for its namesake silver property south of Stewart, British Columbia.

The four deposits at Dolly Varden – Torbrit, Dolly Varden, Wolf and North Star – host 3.42 million metric tons of indicated resource averaging 299.8 grams per metric ton (32.93 million oz) silver; plus 1.29 million metric tons of inferred resource averaging 277 g/t (11.48 million oz) silver.

These four deposits are associated with historical high-grade silver mines that date back to the early 20th Century.

The bulk of the resources are found at Torbrit, which hosts 2.62 million metric tons of the indicated resource averaging 297 g/t (25.03 million oz) silver; and 1.19 million metric tons of the inferred resource averaging 278 g/t (10.59 million oz) silver.

While smaller, the Dolly Varden deposit hosts some of the highest grades on the property – 156,000 metric tons of indicated resource averaging 414 g/t (2.08 million oz) silver; and 86,000 metric tons of inferred resource averaging 272 g/t (754,000 oz) silver.

Dolly Varden said recent drilling has resulted in a reinterpretation of the geological model for the deposits, improving confidence and providing a more robust framework for the study and for future exploration on the high-grade silver property.

In addition to the resource calculation, the company reported preliminary metallurgical silver recovery results for the Torbrit and Dolly Varden property. A 96-hour bottle roll cyanide leach test yielded a recovery rate of 86.9 percent for Torbrit and 85.6 percent for the Dolly Varden.

"This update on the mineral resource estimates, based on a more comprehensive geological model, plus the positive metallurgical recovery numbers, are important steps in the advancement of the Dolly Varden project," said Dolly Varden Silver President and CEO Gary Cope. "The program's metallurgical testing ... supports the historical results and demonstrates that the silver can be extracted from Dolly Varden styles of mineralization through conventional processes."

–SHANE LASLEY

 

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