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Silver Grade of 23,997 G/T Hit at B.C. Mining Project
Research Report

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Along with the highest silver grade, a new discovery and extensions of known mineralization are the highlights of new drill data, noted a Research Capital Corp. report.

Just announced 2022 drill results from Dolly Varden Silver Corp.'s (DV:TSX.V; DOLLF:OTCQX) Kitsault Valley project are noteworthy, for extending the Wolf and Kitsol deposits, returning the best silver grade to date and illuminating a new mineralized discovery, reported Research Capital Corp. analyst Stuart McDougall in a Feb. 7 research note.

McDougall discussed each of these newly identified features.

Outstanding Silver Grades

Regarding the Wolf deposit, McDougall noted, new drill results include the highest silver grade encountered to date at Kitsault Valley: 23,997 grams per ton (23,997 g/t).

This was hit in hole DV22-329 in a subinterval of another high-grade intercept, 8.77 meters (8.77m) of 1,499 g/t silver, including 1.93m of 4,564 g/t silver.

Mineralization Seen To Continue

McDougall presented other standout results from Wolf, which together extend the deposit in several directions. They include:

  • 1.68m of 1,457 g/t silver, including 0.28m of 4,880 g/t silver (from hole DV22-327)
  • 6.81m of 321 g/t silver, including 0.86m of 664 g/t silver (from hole DV22-320)

"Combined, the three [holes] define a shoot measuring 350m long, trending towards the Kitsol vein, located about 1.4 kilometers to the south," McDougall added.

As for the Kitsol deposit, hole DV22-323 extended mineralization downplunge of previously reported, mineralized hole DV22-283. Both are below the resource block model outlined in 2019.

The new hole, DV22-323 showed:

  • 9.6m of 301 g/t silver, including 3.78m of 434 g/t silver

Area for Further Exploration

The new discovery, an area about 500m to the west of the Wolf and Kitsol deposits returned gold, silver, and copper mineralization, identified in four drill holes, reported McDougall. This zone, called Red Point, returned these highlight intercepts:

  • 49m of 0.59 g/t gold
  • 5m of 2.94 g/t gold and 1.65% copper
  • 1m of 8.1 g/t gold, 244 g/t silver and 5.16% copper
  • 1.15m of 17.2 g/t gold and 1.93% copper

Research Capital has a Speculative Buy rating and a CA$1.35 per share target price on Dolly Varden, the current share price of which is about CA$1.

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1) Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

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Disclosures For Research Capital Corp., Dolly Varden Silver Corp., February 7, 2023

Analyst Certification: I, Stuart McDougall, certify the views expressed in this report were formed by my review of relevant company data and industry investigation, and accurately reflect my opinion about the investment merits of the securities mentioned in the report. I also certify that my compensation is not related to specific recommendations or views expressed in this report. Research Capital Corporation publishes research and investment recommendations for the use of its clients. Information regarding our categories of recommendations, quarterly summaries of the percentage of our recommendations which fall into each category and our policies regarding the release of our research reports is available at or may be requested by contacting the analyst. Each analyst of Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst’s personal views and (ii) no part of the research analyst’s compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.

General Disclosures: The opinions, estimates and projections contained in all Research Reports published by Research Capital Corporation ("RCC") are those of RCC as of the date of publication and are subject to change without notice. RCC makes every effort to ensure that the contents have been compiled or derived from sources believed to be reliable and that contain information and opinions that are accurate and complete; RCC makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors and omissions which may be contained therein and accepts no liability whatsoever for any loss arising from any use of or reliance on its Research Reports or its contents. Information may be available to RCC that is not contained therein. Research Reports disseminated by RCC are not a solicitation to buy or sell. All securities not available in all jurisdictions.

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