VANCOUVER, Aug. 9, 2017 /CNW/ - Dolly Varden Silver
Corporation (TSX.V: DV | U.S.: DOLLF) (the "Company" or
"Dolly Varden") is pleased to announce results from the
second four holes of the 2017 diamond drilling program on the Dolly
Varden Silver Project in the Golden Triangle of northwestern
British Columbia.
Hole DV17-040 – Lower Zone consisted of a core length of 12.55 m
(9.89 m true thickness) grading Ag 514.3 g/t, Pb 0.09 % and Zn 0.04
% for a silver-equivalent of 520.2 g/t. Within this Lower Zone
interval is 7.00 m (5.52 m true thickness) grading Ag 757.4 g/t, Pb
0.12 % and Zn 0.05 % for a silver-equivalent of 765.1 g/t.
Hole DV17-042 – Lower Zone consisted of a core length of 11.70 m
(8.27 m true thickness) grading Ag 204.3 g/t, Pb 0.11 % and Zn 0.07
% for a silver-equivalent of 212.7 g/t. Within this Lower Zone
interval is 8.72 m (6.17 m true thickness) grading Ag 249.1 g/t, Pb
0.10 % and Zn 0.06 % for a silver-equivalent of 256.5 g/t.
The Torbrit Deposit is interpreted as a northwestward plunging
synform. The three holes DV17-040 to 042 are located on the
southeastern edge of the Torbrit Deposit and fill a gap in the
drilling. The deposit is still open to the southeast. Hole DV17-043
is located in the northwest edge of the Torbrit Deposit, 80 metres
beyond the intercept in hole DV17-039, the results of which were
announced in a News Release on 26 July
2017.
The 2017 exploration program is planned to consist of over 5,000
metres of diamond drilling in about 25 to 35 drill holes, with two
thirds allocated to resource validation and expansion and one third
allocated to reconnaissance drilling on targets beyond the current
resource estimates. There are over 50 exploration targets on the
property. Geological mapping, plus geophysical and geochemical
surveys are also underway for both the main Dolly Varden Ag-Pb-Zn
Project, as well as the adjacent Big Bulk Cu-Au Project.
"These are excellent high-grade intercepts in the Torbrit
Deposit, which add to our understanding of the geometry and
continuity of the deposit," said Gary Cope, President and CEO of Dolly
Varden.
Dolly Varden
Project – Torbrit Deposit Drilling 2017 – Holes DV17-040 to
043
|
Hole
|
Zone
|
From
|
To
|
Core
|
True
|
Ag
|
Pb
|
Zn
|
Ag-Eq
|
|
|
(m)
|
(m)
|
Length
|
Width
|
(g/t)
|
(%)
|
(%)
|
(g/t)
|
|
|
|
|
|
|
|
|
|
|
DV17-040
|
Upper
|
136.00
|
143.00
|
7.00
|
5.66
|
19.9
|
0.36
|
0.07
|
38.8
|
|
includes
|
142.00
|
143.00
|
1.00
|
0.81
|
57.0
|
1.19
|
0.07
|
110.9
|
|
Lower
|
187.50
|
200.05
|
12.55
|
9.89
|
514.3
|
0.09
|
0.04
|
520.2
|
|
includes
|
192.50
|
199.50
|
7.00
|
5.52
|
757.4
|
0.12
|
0.05
|
765.1
|
|
includes
|
194.50
|
196.50
|
2.00
|
1.58
|
949.0
|
0.17
|
0.06
|
959.3
|
|
|
|
|
|
|
|
|
|
|
DV17-041
|
Upper
|
136.50
|
138.00
|
1.50
|
1.30
|
19.2
|
0.21
|
0.04
|
30.0
|
|
Lower
|
154.05
|
156.60
|
2.55
|
2.16
|
155.6
|
0.12
|
0.03
|
162.2
|
|
includes
|
155.00
|
156.60
|
1.60
|
1.36
|
212.6
|
0.07
|
0.02
|
216.6
|
|
includes
|
156.00
|
156.60
|
0.60
|
0.51
|
302.0
|
0.09
|
0.02
|
306.9
|
|
|
|
|
|
|
|
|
|
|
DV17-042
|
Upper
|
169.55
|
178.10
|
8.55
|
6.05
|
50.0
|
0.18
|
0.81
|
100.6
|
|
includes
|
170.55
|
172.64
|
2.09
|
1.48
|
124.9
|
0.22
|
0.62
|
167.1
|
|
includes
|
170.55
|
171.50
|
0.95
|
0.67
|
191.0
|
0.15
|
0.95
|
247.3
|
|
Lower
|
202.00
|
213.70
|
11.70
|
8.27
|
204.3
|
0.11
|
0.07
|
212.7
|
|
includes
|
204.00
|
212.72
|
8.72
|
6.17
|
249.1
|
0.10
|
0.06
|
256.5
|
|
includes
|
208.55
|
210.68
|
2.13
|
1.51
|
598.8
|
0.07
|
0.05
|
604.5
|
|
|
|
|
|
|
|
|
|
|
DV17-043
|
Upper
|
229.00
|
234.65
|
5.65
|
4.00
|
96.8
|
0.18
|
0.30
|
120.1
|
|
includes
|
229.65
|
233.65
|
4.00
|
2.83
|
121.3
|
0.17
|
0.31
|
144.8
|
|
includes
|
229.65
|
230.65
|
1.00
|
0.71
|
280.0
|
0.10
|
0.22
|
296.0
|
|
|
|
|
|
|
|
|
|
|
Note: Ag-Eq = Ag + (Pb%*22.046*Pb price*31.103/Ag price) +
(Zn%*22.046*Zn price*31.103/Ag price). Metal prices used for this
formula: Ag = $US 16.25/oz, Pb =
$US 1.00/lb, Zn = $US 1.25/lb. No provisions have been made for
relative metal recovery, thus 100% recovery is used for the
silver-equivalent values.
A drill hole location map of the Torbrit Deposit area is posted
on the Dolly Varden Silver Corporation website at
www.dollyvardensilver.com
About Dolly Varden
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, on-trend,
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).
The current mineral resource estimate at Dolly Varden, effective
date August 27, 2015, consists of
four deposits with an Indicated Resource of 3.07 million tonnes
grading 321.6 g/t Ag, for 31.8 million ounces of silver, plus an
Inferred Resource of 0.9 million tonnes grading 373.3 g/t Ag, for
10.8 million ounces of silver. These resources were estimated at a
cut-off grade of 150 g/t Ag. For more details, please refer to a NI
43-101 compliant Technical Report filed on www.sedar.com and on the
Company's website.
Ben Whiting, P.Geo., Vice
President of Exploration and Robert van
Egmond, P.Geo., Chief Geologist for Dolly Varden, serve as
'Qualified Persons' under National Instrument 43-101, and have
approved the scientific and technical information contained in this
news release.
The Company's Common Shares are listed and traded on the TSX.V
under the symbol "DV" and on the OTCBB system under the symbol
"DOLLF".
FORWARD-LOOKING STATEMENTS:
This release may contain forward-looking statements.
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 results of previous field work and programs
and the continued operations of the 2017 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 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 belief 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.
Note: Mineral resources are not mineral reserves, thus have not
demonstrated economic viability.
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
and on the Company's website at www.dollyvardensilver.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 TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
SOURCE Dolly Varden Silver Corp.