Just announced 2022 drill results fromKitsault 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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