VANCOUVER, Aug. 9, 2017 /CNW/ - Dolly Varden Silver Corporation (TSX.V: DV | U.S.: DOLLF) (the "Company" or "Dolly Varden") is pleased to announce results from the second four holes of the 2017 diamond drilling program on the Dolly Varden Silver Project in the Golden Triangle of northwestern British Columbia.
Hole DV17-040 – Lower Zone consisted of a core length of 12.55 m (9.89 m true thickness) grading Ag 514.3 g/t, Pb 0.09 % and Zn 0.04 % for a silver-equivalent of 520.2 g/t. Within this Lower Zone interval is 7.00 m (5.52 m true thickness) grading Ag 757.4 g/t, Pb 0.12 % and Zn 0.05 % for a silver-equivalent of 765.1 g/t.
Hole DV17-042 – Lower Zone consisted of a core length of 11.70 m (8.27 m true thickness) grading Ag 204.3 g/t, Pb 0.11 % and Zn 0.07 % for a silver-equivalent of 212.7 g/t. Within this Lower Zone interval is 8.72 m (6.17 m true thickness) grading Ag 249.1 g/t, Pb 0.10 % and Zn 0.06 % for a silver-equivalent of 256.5 g/t.
The Torbrit Deposit is interpreted as a northwestward plunging synform. The three holes DV17-040 to 042 are located on the southeastern edge of the Torbrit Deposit and fill a gap in the drilling. The deposit is still open to the southeast. Hole DV17-043 is located in the northwest edge of the Torbrit Deposit, 80 metres beyond the intercept in hole DV17-039, the results of which were announced in a News Release on 26 July 2017.
The 2017 exploration program is planned to consist of over 5,000 metres of diamond drilling in about 25 to 35 drill holes, with two thirds allocated to resource validation and expansion and one third allocated to reconnaissance drilling on targets beyond the current resource estimates. There are over 50 exploration targets on the property. Geological mapping, plus geophysical and geochemical surveys are also underway for both the main Dolly Varden Ag-Pb-Zn Project, as well as the adjacent Big Bulk Cu-Au Project.
"These are excellent high-grade intercepts in the Torbrit Deposit, which add to our understanding of the geometry and continuity of the deposit," said Gary Cope, President and CEO of Dolly Varden.
| Dolly Varden Project – Torbrit Deposit Drilling 2017 – Holes DV17-040 to 043 | |||||||||
| Hole | Zone | From | To | Core | True | Ag | Pb | Zn | Ag-Eq |
| (m) | (m) | Length | Width | (g/t) | (%) | (%) | (g/t) | ||
| DV17-040 | Upper | 136.00 | 143.00 | 7.00 | 5.66 | 19.9 | 0.36 | 0.07 | 38.8 |
| includes | 142.00 | 143.00 | 1.00 | 0.81 | 57.0 | 1.19 | 0.07 | 110.9 | |
| Lower | 187.50 | 200.05 | 12.55 | 9.89 | 514.3 | 0.09 | 0.04 | 520.2 | |
| includes | 192.50 | 199.50 | 7.00 | 5.52 | 757.4 | 0.12 | 0.05 | 765.1 | |
| includes | 194.50 | 196.50 | 2.00 | 1.58 | 949.0 | 0.17 | 0.06 | 959.3 | |
| DV17-041 | Upper | 136.50 | 138.00 | 1.50 | 1.30 | 19.2 | 0.21 | 0.04 | 30.0 |
| Lower | 154.05 | 156.60 | 2.55 | 2.16 | 155.6 | 0.12 | 0.03 | 162.2 | |
| includes | 155.00 | 156.60 | 1.60 | 1.36 | 212.6 | 0.07 | 0.02 | 216.6 | |
| includes | 156.00 | 156.60 | 0.60 | 0.51 | 302.0 | 0.09 | 0.02 | 306.9 | |
| DV17-042 | Upper | 169.55 | 178.10 | 8.55 | 6.05 | 50.0 | 0.18 | 0.81 | 100.6 |
| includes | 170.55 | 172.64 | 2.09 | 1.48 | 124.9 | 0.22 | 0.62 | 167.1 | |
| includes | 170.55 | 171.50 | 0.95 | 0.67 | 191.0 | 0.15 | 0.95 | 247.3 | |
| Lower | 202.00 | 213.70 | 11.70 | 8.27 | 204.3 | 0.11 | 0.07 | 212.7 | |
| includes | 204.00 | 212.72 | 8.72 | 6.17 | 249.1 | 0.10 | 0.06 | 256.5 | |
| includes | 208.55 | 210.68 | 2.13 | 1.51 | 598.8 | 0.07 | 0.05 | 604.5 | |
| DV17-043 | Upper | 229.00 | 234.65 | 5.65 | 4.00 | 96.8 | 0.18 | 0.30 | 120.1 |
| includes | 229.65 | 233.65 | 4.00 | 2.83 | 121.3 | 0.17 | 0.31 | 144.8 | |
| includes | 229.65 | 230.65 | 1.00 | 0.71 | 280.0 | 0.10 | 0.22 | 296.0 | |
Note: Ag-Eq = Ag + (Pb%*22.046*Pb price*31.103/Ag price) + (Zn%*22.046*Zn price*31.103/Ag price). Metal prices used for this formula: Ag = $US 16.25/oz, Pb = $US 1.00/lb, Zn = $US 1.25/lb. No provisions have been made for relative metal recovery, thus 100% recovery is used for the silver-equivalent values.
A drill hole location map of the Torbrit Deposit area is posted on the Dolly Varden Silver Corporation website at www.dollyvardensilver.com
About Dolly Varden
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, on-trend, 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).
The current mineral resource estimate at Dolly Varden, effective date August 27, 2015, consists of four deposits with an Indicated Resource of 3.07 million tonnes grading 321.6 g/t Ag, for 31.8 million ounces of silver, plus an Inferred Resource of 0.9 million tonnes grading 373.3 g/t Ag, for 10.8 million ounces of silver. These resources were estimated at a cut-off grade of 150 g/t Ag. For more details, please refer to a NI 43-101 compliant Technical Report filed on www.sedar.com and on the Company's website.
Ben Whiting, P.Geo., Vice President of Exploration and Robert van Egmond, P.Geo., Chief Geologist for Dolly Varden, serve as 'Qualified Persons' under National Instrument 43-101, and have approved the scientific and technical information contained in this news release.
The Company's Common Shares are listed and traded on the TSX.V under the symbol "DV" and on the OTCBB system under the symbol "DOLLF".
