Dolly Varden Silver Corp. (DOLLF) has released initial results from its ongoing drilling campaign at the Wolf vein of its Kitsault Valley silver-gold project in British Columbia’s Golden Triangle. These results, analyzed by Haywood Securities analyst Marcus Giannini, highlight a continuation of high-grade mineralization and demonstrate the depth potential of the vein system. The results confirm the company’s commitment to expanding its drilling program beyond the initial 8,000 meters budget.
One notable intercept came from hole DV24-404, a 40-meter southwest stepout hole, which returned an impressive 1,091 grams per tonne (g/t) silver over 9.38 meters, including a staggering 2,505 g/t silver over 1.63 meters. This discovery underscores the consistent mineralization within the Wolf vein and suggests a potential for long-hole stoping mining scenario.
The high base metal grades and native silver presence encountered in DV24-404 support the theory that the vein system remains open at depth. Further drilling is planned to determine the extent of this high-grade mineralized trend, particularly to the southwest.
The company is also planning follow-up drilling between the Homestake Silver and Homestake Main veins, following positive results from stepout hole HR23-389, which returned 79.49 g/t gold over 12.45 meters.
Despite the positive results from DV24-404, two other holes, DV24-396 and DV24-402, drilled in the upper, northeastern portion of the Wolf vein extension, did not encounter the anticipated mineralization. However, they did return strong alteration and higher base metal values associated with the Wolf structure.
Haywood Securities, impressed by the Wolf vein results and previous findings from the Moose and Chance veins, has reiterated its ‘Buy’ rating on Dolly Varden Silver Corp. and maintained its CA$2.40 price target. This represents a 147% return potential for investors, considering the current share price of CA$0.97. The analyst believes that Dolly Varden’s high-grade endowment makes it an attractive target for larger North American precious metal producers.
Dolly Varden’s exploration program is expected to continue expanding, focusing on drilling in the Wolf vein and exploring the potential of the Homestake Silver and Homestake Main veins. The company’s commitment to demonstrating the multifaceted potential at Kitsault Valley is evident in its ongoing drilling campaign and exploration activities.
