VANCOUVER, BC,
July 6, 2021 /CNW/ -
Dolly Varden Silver Corporation ("Dolly Varden" or the
"Company") (TSXV: DV) (OTC: DOLLF), is pleased to announce
that drilling has commenced at the Dolly Varden Silver Project,
located near tidewater in northwest British Columbia. The
initial surface diamond drill program will consist of 10,000 meters
split 50/50 between infill and expansion of the high-grade,
potentially bulk-mineable silver resource at the Torbrit deposit
and regional exploration of multiple, highly prospective targets
throughout the Property.
The 2021 Drilling 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 pure silver mine
in British Columbia.
"We are excited to start the 2021 drill program at Torbrit
Silver Deposit, where the recently geological modeling and
interpretation suggests multiple areas to expand and upgrade the
Mineral Resource. This drilling should lead to a much better
understanding the deposit, new resource expansion areas and give us
additional confidence to apply preliminary bulk underground mining
designs and more advanced economic studies. Additionally, we will
be testing some new very exciting exploration targets that
developed subsequent to the 2020 exploration program." said
Shawn Khunkhun, CEO of Dolly
Varden.
Drilling at Torbrit will be targeting areas within the updated
block model where a high percentage of inferred resources exist and
where the higher silver grade blocks are at the outer edges of the
model (Figure 1). It is these areas that have the potential to
expand the model out along the Torbrit horizon. In addition, infill
drilling from 2020 indicates that a number of lenses that have been
modelled out as separate zones coalesce in places into one
continuous mineralized body creating an opportunity for
expansion.
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 workings are
accessible from a road bed that connects the to deep tidewater
docks at Alice Arm, BC. Work during 2021 will upgrade the
road to the deposit, potentially in conjunction with other
Companies operating in the area.
Resource modelling at the 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. Additionally, geotechnical
logging will be completed for upcoming mining studies.
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.
