VANCOUVER, Dec. 4, 2017 /CNW/ - Dolly Varden Silver
Corporation (TSX.V: DV | U.S.: DOLLF) (the "Company" or
"Dolly Varden") is pleased to
announce results from the eighth batch of drill holes of the 2017
program on the Dolly Varden Silver Project in the Golden Triangle
of northwestern British Columbia.
This includes two more holes into the discovery of an eastern
fault-offset continuation of the Torbrit Deposit called Torbrit
East. In addition, a new zone named Beginners Luck marks a fourth
discovery target for the year.
Hole DV17-078, drilled in the Torbrit East area, intercepted two
zones, with the Upper Zone yielding a core length of 13.00 metres
(9.96 m true thickness) grading Ag
244.8 g/t, Pb 0.14 % and Zn 0.09 % for a silver-equivalent of 255.7
g/t. Within this interval is 5.00 metres (3.83 m true thickness) grading Ag 481.9 g/t, Pb
0.21 % and Zn 0.12 % for a silver-equivalent of 497.3 g/t.
The Lower Zone in DV17-078 is more base metals rich. It yielded
21.95 metres (16.81 m true thickness)
grading Ag 87.5 g/t, Pb 0.85 % and Zn 1.01% for a silver-equivalent
of 176.3 g/t. Within this interval is 8.35 metres (6.40 m true thickness) grading Ag 121.6 g/t, Pb
1.79 % and Zn 2.33 % for a silver-equivalent of 320.1 g/t.
"Hole DV17-078 confirms the high-grade silver discovery in
Torbrit East zone. The new discoveries in Torbrit North, Torbrit
East and Moose Lamb have great potential for expansion of the
existing resources in this historic mining district," said
Gary Cope, President and CEO of
Dolly Varden.
The intercept in hole DV17-078 represents the Dolly
Varden-Torbrit Horizon (DVTH) style of mineralization, with a
jasper and sulphides rich Upper Zone and a smoky quartz and
sulphides rich Lower Zone. The fault-offset block for Torbrit East
is approximately 60 metres higher and 70 metres east of the edge of
the Torbrit Mine workings and outside of the current resource block
model.
In addition, the Beginners Luck zone is a discovery of a new
exploration target located approximately 1,500 metres north and 400
metres higher than the Torbrit Deposit. Its significance is in
opening up a new area of the eastern side of the Kitsault Valley. A
single drill hole, DV17-080 yielded 3.39 metres (2.94 m true thickness) grading Ag 110.4 g/t, Pb
0.04 % and Zn 0.06 % for a silver-equivalent of 115.6 g/t.
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Dolly Varden
Project – 2017 Drilling Program – Release Eight
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Central Sector
Drilling Area – Ag-Pb-Zn
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Hole
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Zone
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From
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To
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Core
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True
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Ag
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Pb
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Zn
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Ag-Eq1
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(m)
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(m)
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Length
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Width
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(g/t)
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(%)
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(%)
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(g/t)
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DV17-073
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Unnamed
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332.15
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334.00
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1.85
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1.31
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27.0
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0.27
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2.51
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170.7
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Includes
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332.15
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333.15
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1.00
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0.71
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36.9
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0.38
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3.46
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235.2
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DV17-075
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Unnamed
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298.80
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302.80
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4.00
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3.46
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16.5
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0.03
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0.07
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21.6
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Includes
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301.80
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302.80
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1.00
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0.87
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21.6
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0.03
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0.05
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25.3
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DV17-077
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Unnamed
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52.00
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55.00
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3.00
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2.60
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104.8
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1.26
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0.04
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160.1
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Includes
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53.50
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55.00
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1.50
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1.30
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162.0
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2.04
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0.06
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251.1
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Upper-T
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101.00
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125.50
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24.50
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23.30
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56.4
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0.37
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0.18
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81.2
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Includes
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106.00
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110.50
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4.50
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4.28
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172.9
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0.96
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0.41
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234.9
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Includes
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109.00
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110.50
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1.50
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1.43
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383.0
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0.54
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0.42
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428.2
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Lower-T
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132.60
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145.80
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13.20
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12.55
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32.8
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0.12
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0.09
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42.5
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Includes
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136.00
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139.00
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3.00
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2.85
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65.7
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0.12
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0.05
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73.3
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Includes
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138.50
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139.00
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0.50
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0.48
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148.0
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0.39
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0.11
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170.2
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Unnamed
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166.00
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168.00
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2.00
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1.41
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39.0
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0.01
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0.01
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40.1
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DV17-078
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Upper-T
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121.00
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134.00
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13.00
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9.96
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244.8
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0.14
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0.09
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255.7
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includes
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127.00
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132.00
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5.00
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3.83
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481.9
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0.21
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0.12
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497.3
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includes
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127.00
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130.30
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3.30
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2.53
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646.6
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0.30
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0.15
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667.3
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includes
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128.00
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128.50
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0.50
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0.38
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1,330.0
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0.58
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0.34
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1,372.5
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Lower-T
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138.40
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160.35
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21.95
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16.81
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87.5
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0.85
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1.01
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176.3
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includes
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151.00
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159.35
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8.35
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6.40
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121.6
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1.79
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2.33
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320.1
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includes
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151.00
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154.00
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3.00
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2.30
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217.7
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4.36
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3.79
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601.7
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includes
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152.50
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153.00
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0.50
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0.38
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888.0
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16.45
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5.40
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1,867.0
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DV17-079
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Unnamed
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303.60
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305.85
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2.25
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2.17
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15.1
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0.07
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0.29
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33.6
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Includes
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303.60
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304.40
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0.80
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0.77
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23.6
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0.10
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0.57
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57.9
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DV17-080
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Unnamed
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90.45
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91.00
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0.55
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0.48
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43.3
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0.05
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0.05
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48.2
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Beginners
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120.28
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123.67
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3.39
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2.94
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110.4
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0.04
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0.06
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115.6
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Includes
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120.80
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123.67
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2.87
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2.49
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122.6
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0.05
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0.07
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128.5
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Includes
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120.80
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121.40
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0.60
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0.52
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167.0
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0.03
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0.03
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170.0
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Note 1:
Silver-Equivalent 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.
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Note 2: No provisions
have been made for relative metal recovery, thus 100% recovery is
used for the silver-equivalent values.
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A drill hole location map of the Western, Mine and Central
Sectors area is posted on the Dolly Varden Silver Corporation
website at www.dollyvardensilver.com
Technical Information and Qualified Persons
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.
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. Since December 2016, Dolly
Varden has been under the direction of new management
provided by the experienced Belcarra Group Management Ltd.
("Belcarra Group"). The Belcarra Group is comprised of highly
qualified mining and financial professionals.
Additional information about the Company and its activities may
be found on the Company's website www.dollyvardensilver.com and
under the Company's profile at www.sedar.com.
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".
FORWARD-LOOKING STATEMENTS:
This release may contain forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual
results, performance, or achievements of Dolly Varden to be materially different from any
future results, performance, or achievements expressed or implied
by the forward-looking statements. Forward looking statements or
information relates to, among other things, the results of previous
field work and programs, interpretation of the nature of the
mineralization at the project and that that the mineralization on
the project is similar to Eskay and Brucejack, results of mineral
resource estimate on the project, the potential to grow the
project, the potential to expand the mineralization, the planning
for further exploration work, the ability to de-risk the potential
exploration targets, and our belief about the unexplored portion of
the property. These forward-looking statements are based on
management's current expectations and beliefs but given the
uncertainties, assumptions and risks, readers are cautioned not to
place undue reliance on such forward-looking statements or
information. The Company disclaims any obligation to update, or to
publicly announce, any such statements, events or developments
except as required by law.
Note: Mineral resources are not mineral reserves, thus have not
demonstrated economic viability.
For additional information on risks and uncertainties, see the
Company's most recently filed annual management discussion &
analysis ("MD&A"), which is available on SEDAR at
www.sedar.com and on the Company's website at
www.dollyvardensilver.com. The risk factors identified in the
MD&A are not intended to represent a complete list of factors
that could affect the Company.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
SOURCE Dolly Varden Silver Corp.
