Dolly Varden Silver Corporation (TSX.V:DV) (OTCBB:DOLLF) is pleased to announce the results of the first batch of 10 drill holes from the 2018 diamond drilling program. Amongst the intercepts is a new mineralized zone named the “Bonus Zone”, located in the footwall block, northeast of the Moose-Lamb fault, north of the Torbrit Mine. The Dolly Varden Silver Property is in “The Golden Triangle” of northwestern British Columbia, Canada.
In the Bonus Zone, hole DV18-083 yielded 15.50 metres (7.75 m estimated true thickness) grading Ag 161.4 g/t, Pb 0.25 % and Zn 0.20 %, for a silver-equivalent of 183.7 g/t. Within this intercept are 4.65 metres (2.33 m estimated true thickness) grading Ag 347.0 g/t, Pb 0.16 % and Zn 0.16 %, for a silver-equivalent of 363.0 g/t.
In the Torbrit North target, hole DV18-086 yielded 8.32 metres (8.07 m estimated true thickness) grading Ag 248.4 g/t, Pb 0.15 % and Zn 0.10 %, for a silver-equivalent of 261.0 g/t. Within this intercept are 2.00 metres (1.94 m estimated true thickness) grading Ag 559.5 g/t, Pb 0.06 % and Zn 0.10 %, for a silver-equivalent of 567.7 g/t.
Gary Cope, President & CEO, says; “With the new Bonus Zone, Dolly Varden continues to yield more targets for exploration. Additional results will be announced throughout this drilling season. We anticipate the 2018 drilling season data will be incorporated in an update of the mineral resource estimate for the first quarter of 2019.”
|DV18-082||No significant intercepts|
|DV18-085||No significant intercepts – Mafic Dykes|
Silver Equivalent (Ag-Eq) is based on metal prices of Ag=$16.00/oz, Pb=$1.08/lb and Zn=$1.25/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).
The 2018 drilling program is designed to focus on resource delineation and verification, particularly in the areas of the new discoveries from the 2017 exploration season (see news releases of August 29, November 27 and December 4, 2017). These include Torbrit North, Torbrit East and Moose-Lamb targets, as well as areas around the Torbrit and the Dolly Varden deposits.
The Torbrit North and Torbrit East discoveries are of the exhalative-style of silver and base metal mineralization along the Dolly Varden – Torbrit Horizon (“DVTH”), similar to the historic Torbrit Mine, but located in parallel and/or fault offset basins. The Torbrit North target is located 200 metres north and 220 metres deeper than the historic Torbrit Mine, in the footwall block northeast of the Moose-Lamb Fault. The Torbrit East target is located 70 metres east and 60 metres higher than the historic Torbrit Mine, in the hanging-wall block southwest of the Moose-Lamb Fault. It appears in two horizons as the Upper-Torbrit East and the Lower-Torbrit East.
The Moose Lamb target discovery is an epithermal vein-style of mineralization and is similar to mineralization at the historic Dolly Varden Mine. It is adjacent to a major syn-basinal fault by the same name.
Exploration drilling is also marked for the Potassic Alteration Belt and in the Gold Belt Transect on the western side of the valley. Additional targets may be tested as the season progresses.
Analytical testing was performed by ALS Canada Ltd. in Vancouver, British Columbia. Multi-element analyses was 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 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.
Apex Geoscience Ltd. has been contracted to provide independent geological consulting in the field of mineral resource estimation for the Dolly Varden project.
About Dolly Varden
Dolly Varden 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. Since December 2016, Dolly Varden has been under the direction of new management provided by the experienced Belcarra Group Management Ltd. 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.
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