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Silver Co.'s 2023 Drill Program Off To Good Start
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Given the first results bode well for the rest of the campaign, the company added a fifth drill rig, noted a Research Capital Corp. report.

Dolly Varden Silver Corp.'s (DV:TSX.V; DOLLF:OTCQX) first results from the 2023 drill program at its Kitsault Valley project in British Columbia extended mineralization in two key areas, reported Research Capital Corp. analyst Stuart McDougall in an August 8 research note.

Notable 93% Return

Accordingly, Research Capital reiterated its CA$1.35 per share target price on Dolly Varden, currently trading at CA$0.70 per share in comparison, McDougall wrote.

This price difference implies a significant potential return for investors of 93%.

Dolly Varden remains Speculative Buy-rated.

At a Glance

The purpose of the Canadian explorer's current drill program at Kitsault Valley is to confirm and expand the existing resources, noted McDougall. The company just added a fifth rig to drill another 10,000m designated for new exploration targets and has the funds for the work.

Initial 2023 drill results encompass 11 holes and pertain to the Kitsol vein and the Torbrit Main deposit. McDougall presented the highlights of the findings.

Kitsol Vein Results

As for Kitsol, three holes extended the previously identified high-grade silver mineralization there, reported McDougall. Specifically, holes DV23-334 and DV23-336 extended the vein's high-grade plunge by 40 meters (40m) closer to surface, taking it to 250m.

DV23-334 showed 7.21m of 297 grams per ton silver (297 g/t Ag), beginning 63m downhole, including 0.78m of 1,090 g/t Ag.

DV23-336 returned 15.59m of 342 g/t Ag, starting 70m downhole, including 0.42m of 2,270 g/t Ag and 0.51m of 995 g/t Ag.

Hole DV23-337 extended the vertical dimension of the high-grade plunge about 50–75m along strike. One highlight intercept from this hole was 7.94m of 496 g/t Ag beginning 122m downhole, including 0.61m of 1,100 g/t Ag.

One exploration hole, DV23-338, intersected what Dolly Varden described as a block of the Kitsol vein along a splay near the Moose Lamb fault. The hole showed 0.33m of 14 g/t Ag. The company intends to follow up on this result after doing more modeling.

Torbrit Main Extension

McDougall also reported that stepout hole DV23-348 extended this deposit along strike to the south. The hole showed 3.5m of 334 g/t Ag beginning at 86m downhole, including 1.34m at 672 g/t Ag.

Upcoming Catalysts

Investors should watch for additional and ongoing project updates, any of which could move up Dolly Varden's stock price, McDougall noted.

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Important Disclosures:

  1. Dolly Varden Silver Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. 
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dolly Varden Silver Corp. 
  3. Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
  4. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

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Disclosures for Research Capital, Dolly Varden Silver Corp., August 8, 2023

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