Dolly Varden Silver Corp. Oct. 7 reported high-grade silver intercepts from infill and resource expansion drilling at the Torbrit deposit on the company's Dolly Varden project in Northwest British Columbia.

The roughly 21,745-acre (8,800 hectares) Dolly Varden property covers four historic mines that produced more than 19 million ounces of silver over four decades beginning in 1919.

Four deposits associated with these historic mines – 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.

The bulk of these 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.

Dolly Varden's 2020 drilling began with step-out holes to expand this resource, as well as infill holes targeting high-grade zones within the deposit area.

Highlights from step-out drilling include:

• 12.75 meters averaging 351 grams per metric ton silver, including 2.7 meters of 1,083 g/t silver in hole DV20-211.

• 37.5 meters of 135 g/t silver, including one meter of 906 g/t silver in DV20-213.

"We are pleased to see step-out drill intercepts with consistent, strong silver mineralization, significant thickness, and areas of very high-grade silver," said Dolly Varden Silver President and CEO Shawn Khunkhun.

DV20-217, an infill hole, cut 31.95 meters averaging 302 g/t silver, including a four-meter subsection averaging 642 g/t silver.

"These results should support continued resource expansion and the growing potential for bulk underground mining around the past-producing Torbrit silver mine," Khunkhun said. "We look forward to additional results as multiple high grade silver exploration and expansion targets are being drilled this season."

The Torbrit Mine area is one of several exploration targets being drilled during the 2020 program at the Dolly Varden Property, located north of tidewater and the community of Alice Arm in Northwest BC.

Assays are currently pending from several additional holes drilled at Torbrit. The company has also completed 17 holes testing exploration targets across the wider Dolly Varden property, which is the primary focus of the 2020 program.

A recently approved increase to the 2020 exploration budget is allowing the drill program to run later into the fall and in excess of the original planned 10,000 meters.

Dolly Varden Silver Corp.

CORRECTION: The size of the Dolly Varden property has been corrected to 21,745 acres.

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