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Silver Co. To Drill 40,000 Meters at Golden Triangle Project
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Now is the time to accumulate shares in this mining firm, in advance of the upside potential to be realized from this year's drill program, noted a Haywood Securities report.

Dolly Varden Silver Corp. (DV:TSX.V; DOLLF:OTCQX) announced a "bigger than expected" 2023 exploration plan for its Kitsault Valley project in British Columbia's Golden Triangle, to start in Q2/23," reported Haywood Securities analyst Dr. Geordie Mark in an April 24 research note.

"Now is the right time for leverage in precious metals through investment in Dolly Varden Silver on 2022 results and the upside potential to be germinated in the 2023 program," Mark wrote.

Accordingly, Haywood rates the Dolly Varden Silver Buy and projects an 85% return for investors with its target price of CA$2 per share. The mining company's current price is CA$1.08 per share.

Plan at a Glance

During this quarter, Dolly Varden Silver will activate five rigs at the start of a 40,000–45,000 meter (40,000–45,000m) drill program at Kitsault Valley slated for this season, Mark wrote, "to focus on discovery, growth, and derisking (infill) across the portfolio of silver and gold-rich epithermal systems." This year's drill campaign is bigger than last year's, which spanned 37,000m.

Targets will be a mix of recently drilled and yet-to-be-drilled ones.

"We believe that drilling on new targets across the strike length of the Kitsault Valley trend can continue for years with 2023 only just starting to demonstrate the value add created through overall project area consolidation completed in early 2022," wrote Mark.

Areas of Focus

The following four targets certainly will be among those that Dolly Varden Silver drills this year, reported Mark.

1) Wolf vein: Following up on last year's success here, drilling will test for strike length extension of the system and for the existence of a parallel silver-rich vein set.

2) Kitsol vein: This high-grade silver vein will undergo incremental stepout targeting.

3) Homestake Ridge: Both silver and gold mineralization will be targeted here. Dolly Varden Silver drill previously encountered high-grade gold mineralization for down plunge extensions, and drill historically hit silver-rich mineralization in stepout fashion.

"Oriented core drilling is critical to understanding the geodynamic evolution of these systems and the targeting for vein continuity," explained Mark.

4) Moose vein: This is a new target located in the potassic alteration envelope of the high-grade silver Torbrit system and the site of former workings. The silver-gold mineralization of the Moose vein has been shown to be geologically similar to that of the Wolf vein, about 1,500m to the south.

"Moose represents another step north that fills the gap between the 'silver-rich Dolly Varden systems' in the south and the 'gold-rich Homestake systems' in the north," Mark wrote.

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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 Haywood Capital Markets, Dolly Varden Silver Corp., April 24, 2023

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