VANCOUVER, BC, Aug. 4, 2020 /CNW/ - Dolly Varden Silver
Corporation ("Dolly Varden" or the "Company") (TSXV:
DV) (OTC:DOLLF), is pleased to announce that its 10,000 meter
discovery-focused and resource expansion drilling program is
underway at its flagship Dolly Varden Property, located in
northwestern, BC.
As the Company's new technical team finalizes regional
exploration targets on the Property, initial drilling is focused on
step-out drilling from current resources at the past-producing
Torbrit Mine. Company Records of historic mining operations at the
Torbrit and Dolly Varden Mines
produced average grades of 500 at Torbrit and 1,100 g/t silver at
Dolly Varden. Silver mineralization came from Native Silver,
Argentiferous Galena and Ruby Silver
(pyrargyrite).
"Multiple silver-rich mineralizing systems, deposits and
past-producing mines present many target options for exploration at
Dolly Varden," said Shawn Khunkhun,
President and CEO of Dolly Varden
Silver. "We are ramping-up our exploration for the
2020 field season and will keep our shareholders updated regularly
on results. Our priority is the discovery of more high-grade
silver mineralization, which we expect to accomplish with 80% of
drilling at new targets and 20% in high-priority resource expansion
areas. It is exciting to have a geological team with so much
experience and historic success in this region, added Shawn."
Torbrit Deposit
The main Torbrit deposit hosts strataform exhalative-style
silver mineralization and overprinted by epithermal vein
mineralization, with associated lead and zinc. The Company's
geological team has been on site for several weeks now working on
detailed structural mapping and re-interpretations to guide the
drill targeting within the +4,500 meters long silver-bearing
alteration belt, extending north from the Current Mineral Resource
Estimate area. Additional soil sampling on the western portion of
the property is ongoing to help define new gold targets for late
summer drill testing. Additional technical information on
Torbrit can be found at https://www.dollyvardensilver.com/
"Exploration work is progressing as planned while keeping
workers safe and healthy as our top priority. We are currently
testing for extensions to the mineral resource which has been
untouched by historic mining and then will be concentrating on
further defining higher grade pockets of silver mineralization,"
explains Rob van Egmond, Chief
Geologist currently on site.
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).
Technical Information and Qualified Person
Robert van Egmond, PGeo, Chief
Geologist for Dolly Varden Silver Corp., serves as 'Qualified
Person' as defined in NI 43-101, and have approved the scientific
and technical information contained in this news release.
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.
