- 10,000 Meter Drill Program
Planned-
VANCOUVER, BC, June 18, 2020 /CNW/ - Dolly Varden Silver
Corporation (TSX.V: DV | US OTC: DOLLF) (the
"Company" or "Dolly Varden") is pleased to announce
the company's plans for it's 2020 exploration season which includes
a planned 10,000m diamond drill
program.
After identifying numerous additional high-grade silver targets
during our 2019 season, the 2020 exploration program is focused on
two-fold enhancement strategy designed to enhance shareholder
value.
- Continue drilling to expand the current 43-101 resource from
its current 32.9 million ounces of silver (3,417,000 tonnes grading
300 g/t Ag) in the Indicated category and a further 11.4 million
ounces (1,285,300 tonnes grading 277 g/t Ag) in the Inferred
category.
- Focus drilling on high-grade silver targets outside of the
mineral resource area that will unlock the upside potential that
the Dolly Varden Silver project has to offer.
"This new geological team brings years of regional geological
experience and will include a technically improved, more fully
integrated field program, data analysis, and staged diamond
drilling to test prospective areas within the altered Hazelton
Group volcanic rocks that is anticipated to repeat previous high
grade silver drill results. It helps that we are starting off
this season with a serious note of shareholder confidence as
demonstrated by the recent completion of equity financing which we
believe will allow us to continue our exploration program through
2021 without further accessing the capital markets," commented
Chief Executive Officer, Shawn
Khunkhun.
Detailed field work will precede and accompany drilling, in
conjunction with more advanced geologic modelling which will focus
on better defining the structural, geophysical, geochemical
features and geological architecture of the highly prospective
rocks on the property. This modeling will best identify and define
the geological controls within multiple styles of silver-rich
mineralization on the property, including: stratabound volganocenic
mineralization as well as epithermal and orogenic vein-type systems
that will provide vectors to areas with high silver discovery
potential, as well as copper and gold mineralization which is
widespread in the Golden Triangle.
Remodeling and interpretation of drill and field data, completed
over the past several months, will guide a first phase drill
program to expand the higher grade silver mineralized zones, both
within the current resource block model and along interpreted
structurally and lithologic-controlled extensions.
As we progress with this year's program, newly acquired data
from early field work will be incorporated into planning later
stage drilling of known and new prospective areas. This includes
additional drilling for finding new economic mineralization within
the partially drilled 4.5 kilometer-long altered and metal-enriched
corridor extending north from the Torbrit Mine, over the Wolf Mine,
to the Chance and Ace-Galena showings. Additional known target
areas with showings, but minor drilling, include Surprise and
Starlight-Racehorse Corridor. The western portion of the property
will be explored aggressively to source and evaluate the potential
of elevated gold in soil and rock geochemistry, primarily targeting
intrusive-related styles of mineralization.
Our strong technical team, under advisement from Director
Rob McLeod, is scheduling
mobilization and camp opening for late June
2020, with initial surface work starting immediately and
diamond drilling commencing in late July.
"As the health and safety of the Dolly Varden team, contractors
and local communities is paramount we have taken the time during
the planning phase to align our standard operating procedures
related to COVID 19 protocols and camp infrastructure to meet or
exceed the Federal and Provincial guidelines. We are keen to
get going on the exploration program and anticipate a safe and
successful season", states Rob van
Egmond, Dolly Varden's Chief Geologist.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company
focused on exploration in northwestern British Columbia. Dolly Varden has two
projects, the namesake Dolly Varden silver property and the nearby
Big Bulk copper-gold property. The Dolly Varden property is
considered to be highly prospective for hosting high-grade precious
metal deposits, since it comprises the same structural and
stratigraphic setting that host numerous other high-grade deposits
(Eskay Creek, Brucejack). The Big
Bulk property is prospective for porphyry and skarn style copper
and gold mineralization similar to other such deposits in the
region (Red Mountain, KSM, Red
Chris).
Technical Information and Qualified Person
Robert van Egmond, P.Geo., Chief
Geologist for Dolly Varden Silver Corp., serves as 'Qualified
Person' as defined in NI 43-101, and have approved the scientific
and technical information contained in this news release.
FORWARD-LOOKING STATEMENTS:
This release may contain forward-looking statements or
forward-looking information under applicable Canadian securities
legislation that may not be based on historical fact, including,
without limitation, statements containing the words "believe",
"may", "plan", "will", "estimate", "continue", "anticipate",
"intend", "expect", "potential" and similar expressions.
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 use of proceeds with respect to the
Offerings, the results of previous field work and programs and the
continued operations of the current exploration program,
interpretation of the nature of the mineralization at the project
and that that the mineralization on the project is similar to Eskay
and Brucejack, results of the 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
beliefs 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.
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. 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 TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX-V)
accepts responsibility for the adequacy or accuracy of this news
release.
This release does not constitute an offer to sell or a
solicitation of an offer to buy of any securities in the United
States. The securities described herein have not been, and
will not be, registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act"), or any state
securities laws, and may not be offered or sold within the United States except in compliance with
the registration requirements of the U.S. Securities Act and
applicable state securities laws or pursuant to available
exemptions therefrom.
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SOURCE Dolly Varden Silver Corp.
