VANCOUVER, Aug. 7, 2019 /CNW/ - Vancouver, BC: Dolly Varden Silver Corporation
(TSX.V: DV – OTCBB: DOLLF) (the "Company" or
"Dolly Varden") is pleased to
announce the results of the second batch of 5 drill holes from the
2019 diamond drilling program. These holes are in the Chance Target
Area, four kilometres north of the Torbrit deposit. The Dolly
Varden Silver Property is situated in "The Golden Triangle" of
northwestern British Columbia,
Canada.
In the Chance Target Area, hole DV19-173 yielded 15.20 metres
(13.16 m estimated true thickness)
grading Ag 488.3 g/t, Pb 0.55 % and Zn 0.05 %, for a
silver-equivalent of 513.0 g/t. Within this intercept are 5.60
metres (4.85 m estimated true
thickness) grading Ag 1,043.8 g/t, Pb 1.39 % and Zn 0.09 %, for a
silver-equivalent of 1,103.4 g/t.
Also in the Chance Target Area, hole DV19-169 exhibits a splay
of the Chance vein, with lower-grade material between the splays.
The north splay of the Chance vein yielded 8.70 metres
(6.15 m estimated true thickness)
grading Ag 265.2 g/t, Pb 0.15 % and Zn 0.12 %, for a
silver-equivalent of 276.9 g/t. The main Chance vein yielded 12.50
metres (8.84 m estimated true
thickness) grading Ag 340.7 g/t, Pb 0.20 % and Zn 0.13 %, for a
silver-equivalent of 355.0 g/t. Within this intercept are 3.00
metres (2.12 m estimated true
thickness) grading Ag 700.0 g/t, Pb 0.54 % and Zn 0.26 %, for a
silver-equivalent of 734.0 g/t.
The intercepts in holes DV19-170 and DV19-173 are from a
previously unknown offset of the Chance vein beneath an interpreted
low-angle fault, whereas the intercepts in hole DV19-169 are above
the low-angle fault.
Gary Cope, President & CEO,
says; "Our understanding of the structural setting of silver
mineralization in the Chance Target Area continues to improve with
the 2019 drilling program. The reinterpretation of historic data
and drill testing of the resulting geological model have yielded a
new discovery of high grade silver outside of known mineralization
and the current 2019 mineral resource estimate."
The Chance Target Area is in the same Hazelton Group
stratigraphic rocks and within the same potassic alteration zone as
the Torbrit Mine deposit. Chance lies 4 kilometres N of the Torbrit
deposit, 2.2 kilometres NNE of the Wolf deposit and 1 kilometre SE
of the Ace-Galena Target Area. The Chance target was known from
shallow surface diamond drilling in the 1960s. The 2019 exploration
drilling program in this area is designed to confirm historic
reports while also targeting untested depth continuity and lateral
strike extension. The 2019 drilling completed thus far has
identified a low angle fault at the base of the historically known
mineralization, as well as the offset of that mineralization below
the fault. A number of planned holes have been added to the 2019
program to test the lateral and depth extent of the high grade
silver mineralization at Chance.
Exploration - Chance Target Area
Hole/Zone
|
From
(m)
|
To
(m)
|
Core
Length
|
Est
True
Width
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Ag-Eq
(g/t)
|
|
|
|
|
|
|
|
|
|
DV19-169
|
|
|
|
|
|
|
|
|
Chance-N
|
49.65
|
58.35
|
8.70
|
6.15
|
265.2
|
0.15
|
0.12
|
276.9
|
includes
|
51.65
|
56.85
|
5.20
|
3.68
|
396.2
|
0.18
|
0.16
|
411.1
|
includes
|
54.65
|
55.65
|
1.00
|
0.71
|
760.0
|
0.44
|
0.43
|
798.8
|
Chance
|
72.50
|
85.00
|
12.50
|
8.84
|
340.7
|
0.20
|
0.13
|
355.0
|
includes
|
75.80
|
83.90
|
8.10
|
5.73
|
506.4
|
0.30
|
0.17
|
526.9
|
includes
|
79.80
|
82.80
|
3.00
|
2.12
|
700.0
|
0.54
|
0.26
|
734.0
|
includes
|
80.80
|
81.80
|
1.00
|
0.71
|
949.0
|
0.29
|
0.19
|
969.9
|
|
|
|
|
|
|
|
|
|
DV19-170
|
|
|
|
|
|
|
|
|
Unnamed
|
59.60
|
60.25
|
0.65
|
0.42
|
98.9
|
2.72
|
0.03
|
208.7
|
Chance
|
129.00
|
141.30
|
12.30
|
7.91
|
108.5
|
0.01
|
0.05
|
111.4
|
includes
|
131.90
|
141.30
|
9.40
|
6.04
|
136.3
|
0.01
|
0.04
|
138.8
|
Includes
|
136.00
|
140.00
|
4.00
|
2.57
|
192.3
|
0.02
|
0.04
|
194.9
|
Includes
|
139.00
|
140.00
|
1.00
|
0.64
|
361.0
|
0.02
|
0.07
|
365.5
|
|
|
|
|
|
|
|
|
|
DV19-171
|
|
No Significant
Intercepts
|
|
|
|
|
|
|
|
|
|
DV19-172
|
|
No Significant
Intercepts
|
|
|
|
|
|
|
|
|
|
DV19-173
|
|
|
|
|
|
|
|
|
Chance
|
67.40
|
82.60
|
15.20
|
13.16
|
488.3
|
0.55
|
0.05
|
513.0
|
includes
|
71.15
|
82.60
|
11.45
|
9.92
|
629.3
|
0.73
|
0.06
|
661.0
|
includes
|
77.00
|
82.60
|
5.60
|
4.85
|
1,043.8
|
1.39
|
0.09
|
1,103.4
|
includes
|
81.70
|
82.60
|
0.90
|
0.78
|
2,410.0
|
0.24
|
0.15
|
2,427.0
|
Unnamed
|
164.00
|
166.00
|
2.00
|
1.73
|
35.2
|
0.07
|
0.07
|
41.7
|
|
|
|
|
|
|
|
|
|
Silver Equivalent (Ag-Eq) is based on long term metal prices of
Ag=$15.00/oz, Pb=$0.87/lb and Zn=$1.08/lb. No provision has been made for relative
metal recovery, so Ag-Eq values assume 100% recovery. Ag-Eq = Ag +
(Pb%*22.046*Pbprice*31.103/Agprice) +
(Zn%*22.046*Znprice*31.103/Agprice).
A mineralized zone does not normally receive a name designation
until several intercepts have pierced the same structure. The term
"Unnamed" is used for intercepts of interest, but which have not
yet been linked from hole to hole.
The 2019 field program is designed to focus mainly on
exploration of targets outside of the resource estimates block
models. Diamond drilling commenced on June
16, 2019.
Analytical testing was performed by ALS Canada Ltd. in
Vancouver, British Columbia.
Multi-element analyses has been determined by Inductively–Coupled
Plasma Mass Spectrometry (ICP-MS) for 48 elements following a
4-acid digestion process. High grade silver testing was determined
by Fire Assay with either an atomic absorption, or a gravimetric
finish, depending on grade range. A QA/QC procedure is maintained
through the insertion of certified reference material geo-standards
provided by CDN Resource Laboratories Ltd., as well as the
insertion of blanks, in the sample stream.
Technical Information and Qualified Persons
Ben Whiting, P.Geo., Vice
President of Exploration and Robert van
Egmond, P.Geo., Chief Geologist for Dolly Varden, serve as 'Qualified Persons' as
defined in NI 43-101, and have approved the scientific and
technical information contained in this news release. To verify the
technical information, both Qualified Persons have visited the
project site on numerous occasions during the 2017 to 2019 field
seasons, with Robert van Egmond
currently on-site.
About Dolly Varden
Dolly Varden is a mineral
exploration company focused on exploration in northwestern
British Columbia, Canada. The
Company has two projects, the namesake Dolly Varden silver property and the nearby Big
Bulk copper-gold property. Since December
2016, Dolly Varden has been
under the direction of management provided by the experienced
Belcarra Group Management Ltd. ("Belcarra Group"). The
Belcarra Group is comprised of highly qualified mining and
financial professionals.
Dolly Varden is also a member of
the British Columbia Regional Mining Alliance ("BCRMA"), a
cooperative effort between First Nations, Industry and the BC
Provincial Government, to promote mining activities and investment
in the northwestern region.
Additional information about the Company and its activities may
be found on the Company's website www.dollyvardensilver.com and
under the Company's profile at www.sedar.com.
FORWARD-LOOKING STATEMENTS:
This release may contain forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual
results, performance, or achievements of Dolly Varden to be materially different from any
future results, performance, or achievements expressed or implied
by the forward-looking statements. Forward looking statements or
information relates to, among other things, the results of previous
field work and programs, results of mineral resource estimate on
the project, the potential to grow the project, the potential to
expand the mineralization, the planning for further exploration
work, the ability to de-risk the potential exploration targets, and
our belief about the unexplored portion of the property. These
forward-looking statements are based on management's current
expectations and beliefs but given the uncertainties, assumptions
and risks, readers are cautioned not to place undue reliance on
such forward-looking statements or information. The Company
disclaims any obligation to update, or to publicly announce, any
such statements, events or developments except as required by
law.
Note: Mineral resources are not mineral reserves, and thus have
not demonstrated economic viability.
For additional information on risks and uncertainties, see the
Company's most recently filed annual management discussion &
analysis ("MD&A"), which is available on SEDAR at
www.sedar.com and on the Company's website at
www.dollyvardensilver.com. The risk factors identified in the
MD&A are not intended to represent a complete list of factors
that could affect the Company.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
SOURCE Dolly Varden Silver Corp.