Dolly Varden Silver Corp. Jan. 30 reported another round of exceptional assays from the 2022 drill program at the Homestake gold-silver deposits at the north end of the company's Kitsault Valley project in Northern British Columbia.

Located about 40 kilometers (25 miles) southeast of Stewart, BC, the 63-square-mile (163 square kilometers) Kitsault Valley project is an amalgamation of Dolly Varden's namesake project and the adjacent Homestake Ridge gold-silver project the company acquired from Fury Gold Mines Ltd. in February 2022.

During the 2022 season, Dolly Varden completed 37,061 meters of resource expansion and upgrade drilling at both the high-grade silver deposits on the original Dolly Varden deposits at the south end of Kitsault Valley and the more gold-forward Homestake deposits about 5.5 kilometers (3.5 miles) northwest of the Dolly Varden deposits.

Three deposits at Homestake Ridge – Homestake Main, Homestake Silver, and South Ridge – host 736,000 metric tons of indicated resource averaging 7.02 grams per metric ton (165,993 oz) gold and 74.8 g/t (1.8 million oz) silver; plus 5.55 million metric tons of inferred resource averaging 4.58 g/t (816,719 oz) gold and 100 g/t (17.8 million oz) silver.

Last year, Dolly Varden completed 18,448 meters of drilling in 56 holes – 41 at Homestake Main, 12 at Homestake Silver, and three exploration holes.

In November, the company reported the initial assay results from its inaugural drill program at Homestake Ridge.

Highlights from these holes drilled at Homestake Main include:

• 16.06 meters averaging 4.27 g/t gold and 64 g/t silver in hole HR22-314.

• 10 meters averaging 7.18 g/t gold and 30 g/t silver in hole HR22-325.

• 9.16 meters averaging 27.44 g/t gold and 463 g/t silver in hole HR22-328.

• 15 meters averaging 5.68 g/t gold and 147 g/t silver in hole HR22-330.

• 21 meters averaging 3.79 g/t gold and 2 g/t silver in hole HR22-337.

The new batch of assays includes results from additional holes drilled at Homestake Main; highlights include:

• 22.5 meters averaging 4.32 g/t gold and 76 g/t silver in hole HR22-324.

• 25 meters averaging 46.31 g/t gold, 0.7 g/t silver, and 0.19% copper in hole HR22-333.

• 3.9 meters averaging 6.19 g/t gold and 1,844 g/t silver in hole HR22-336.

• 5.1 meters averaging 4.16 g/t gold, 21 g/t silver, and 1.42% copper in hole HR22-338.

• 29.54 meters averaging 8.73 g/t gold and 12 g/t silver in hole HR22-345.

"Dolly Varden Silver's initial drilling at the Homestake Main deposit has returned consistent mineralized intervals with some of the highest grades of gold with silver reported from the property to date, but also the entire Golden Triangle during the 2022 drilling season," said Dolly Varden Silver President and CEO Shawn Khunkhun. "Coupled with the exceptional grades and thicknesses of silver mineralization encountered in step-out holes at the Wolf and Kitsol deposits, we are demonstrating the impressive precious metal endowment and potential of the Kitsault Valley trend."

The company also reported its first batch of assays from Homestake Silver, which lies immediately southeast of Homestake Main; highlights include:

• 1.2 meters averaging 2,500 g/t silver, 15.04 g/t gold, and 0.17% copper in hole HR22-361.

• 2.5 meters averaging 1,252 g/t silver, 0.81 g/t gold, and 0.14% copper in hole HR22-362.

• 2.7 meters averaging 469 g/t silver in hole HR22-365.

These more silver-dominant intercepts are reminiscent of the mineralization encountered at Wolf and Torbrit, the two northernmost deposits on the Dolly Varden end of the consolidated Kitsault Valley project.

Previously released highlights from 2022 drilling at Wolf, which is about 5.4 kilometers (3.4 miles) southeast of Homestake Silver include:

• 19.85 meters averaging 584 g/t silver in hole DV22-300.

• 12.8 meters averaging 412 g/t silver in hole DV22-311.

• 9.8 meters averaging 551 g/t silver in hole DV22-316.

Highlights from drilling at Torbrit and the associated Kitsol vein include:

• 12.51 meters averaging 442 g/t silver in hole DV22-291 (Kitsol).

• 21.55 meters averaging 372 g/t silver in hole DV22-298 (Kitsol).

• 3.3 meters averaging 585 g/t silver in hole DV22-312 (Torbrit).

Dolly Varden Silver Corp.

Click on image for larger Kitsault Valley map.

Dolly Varden says ground geophysics and geological mapping has generated new targets along the 5.4-kilometer prospective trend between the Homestake Ridge and Dolly Varden deposits at Kitsault Valley.

Author Bio

Shane Lasley, Publisher

Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

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