VANCOUVER, BC, June 7, 2021 /CNW/ - Dolly Varden Silver
Corporation ("Dolly Varden" or the "Company") (TSXV:
DV) (OTC: DOLLF), is pleased to announce the initiation of field
activities on the Dolly Varden Silver Project, located near
tidewater in northwest British Columbia. This year's Program
is the first Phase of a two-year goal to aggressively expand and
upgrade the Torbrit Silver Deposit and multiple silver-rich
satellite zones with the objective of advancing Dolly Varden to be
the next high-grade silver mine in British Columbia.
Additionally, the Company's geological team has generated multiple
highly prospective targets throughout the Property to be drilled
during this program. A 10,000m
Phase I core drilling program, in addition to road and site
upgrades in preparation for underground access and exploration work
is envisioned.
"Our geological team has been highly encouraged with the recent
engineering reviews of the Torbrit silver deposit, whereby the
majority of the wide, consistent silver mineralization is
potentially amenable to bulk underground mining methods such as
longhole stoping as well as excellent underground geotechnical
conditions. Our 2021 drilling program is designed to upgrade
inferred resources to measured and indicated classification and
test for near-mine extensions and new mineralized zones to enhance
the block model. Additionally, our regional exploration
program will test multiple high-grade exploration targets, both at
surface in at depth. After an intense and methodical off
season geological review, our 2021 field program will be our most
ambitious but very goal oriented. Combined with Hecla's nearby drilling program and other
junior company exploration Projects, this will be a very busy
season in the Dolly Varden silver belt," said Shawn Khunkhun, CEO of Dolly Varden.
Dolly Varden's crews have mobilized to prepare camp and
facilities located on tidewater in the community of Alice Arm, BC,
with drilling to commence shortly thereafter. The planned program
will be split with 5,000 meters allocated to Phase I program of
delineating and expanding the Torbrit Silver Resource and 5,000
meters of exploration drilling with the objective of discovering
new deposits.
Resource modelling at the high-grade Torbrit Silver Deposit
included integrating the 2019 and 2020 drilling results which has
increased the understanding and confidence in the existing resource
to target specific areas of the deposit for conversion from
Inferred to Indicated/Measured resource categories. Drill holes
have been planned from existing historic surface infrastructure to
infill within the current block model and to expand the limits of
known mineralization or satellite Zones (Figure 1).
Additionally, geotechnical logging will be completed for upcoming
mining studies.
Figure 1: Torbrit Main Resource Block model (blue)_with
drilling targeting areas of inferred resources(purple) for upgrade
to measured/indicated. Torbrit Main section looking
Northwest.
The Company is excited to explore for new deposits of high-grade
silver mineralization within the favorable host rocks where
alteration and geochemical signatures indicative of
volcanogenic-related silver mineralization are strongest. The
Company's updated geological model suggests that the favorable
Torbrit silver-rich horizon dips underneath the bottom of the
valley that hosts the Deposit. Exploration drilling will
include some deeper holes that will explore for the down plunge
extension potential of Torbrit (Figure 2).
Figure 2: Surface High Potassium alteration signature (pink)
showing down plunge potential from Torbrt and Wolf -
Oblique view looking east from Kitsault River, 4 kilometer
wide window
Newly developed models on gold and silver vein stockwork and
breccias with anomalous pathfinder geochemistry such as bismuth and
tellurium that was drilled during the 2020 program are also highly
encouraging. Exploration drilling during this Program will
continue to test these altered and mineralized rocks, similar in
nature to Ascot's Premier and Big Missouri deposits located to the
Northwest of Dolly Varden.
Torbrit Deposit
Torbrit is high-grade silver deposit that is potentially
amenable to low-cost underground bulk mining methods. It is
the largest portion of the four silver deposits that make up the
current 43-101 Mineral Resource at the Dolly Varden Silver Project
and the largest pureplay silver Project in British Columbia and Canada. Modern mining and processing occurred
on the Property during the 1950's and 60's, in addition to
direct-shipping silver mines throughout the Property during the
first half of the 20th century. Underground working are
accessible from a road bed that connects the to deep tidewater
docks at Alice Arm, BC. Work during 2020 will upgrade the
road to the deposit, potentially in conjunction with other
Companies operating in the area.
Quality Assurance and Quality Control
The QA/QC procedures are overseen by the Qualified Person,
Rob van Egmond, P.Geo., Chief
Geologist. The Company adheres to CIM Best Practices Guidelines for
exploration related activities conducted on its property.
Qualified Person
Rob van Egmond, P.Geo, Chief
Geologist for Dolly Varden Silver, is the "Qualified Person" as
defined by NI43-101. He has reviewed, validated and approved the
scientific and technical information contained in this news
release and supervises the ongoing exploration program at
Dolly Varden Silver.
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).
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, completion of the Offering, Exchange approval
of the Offering, 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.
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SOURCE Dolly Varden Silver Corp.
