EXPLORATION & DEVELOPMENT

Dolly reveals more silver hits

Dolly Varden Silver (TSXV: DV) says high-grade silver intercepts, including 16m at 1,240g/t, are filling in a portion of the Torbrit deposit not previously drilled at its namesake project in British Columbia.

Staff reporter
BC project yields 16m at 1,240g/t silver

BC project yields 16m at 1,240g/t silver

The above result was within a broader 75.45m grading 418.9g/t silver, 0.28% lead and 0.14% zinc from 54.75m, among the final batch of drill holes from the company's enlarged 84-hole 2018 programme.  

President and CEO Gary Cope said the results confirmed the "multi-horizon zones and high-grade nature" of the mineralisation and said it should be noted there were multiple silver deposits and high-grade targets within a 5km radius.

The company acquired the Dolly Varden project in 2011 and it contains several historic underground workings.

It consolidated the project area by acquiring the internal, contiguous Musketeer claims in 2013, making the final payment in early 2018.

A 2015 resource estimate outlined an indicated 3.07 million tonnes at 321.6g/t silver for 31.8 million ounces and an inferred 0.9Mt at 373.3g/t for 10.8Moz.

The company closed a C$4.2 million (US$3.2 million) raising in September at 55c per flow-through share, towards further exploration and ongoing working capital.

Its shares, which were trading around C80c a year ago, jumped C6.5c or more than 15% to 48c yesterday, capitalising it at $27.5 million.

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