Mining News: Northern Neighbors: Dolly Varden resource tops 42M oz silver

Dolly Varden Silver Corp. Aug. 27 reported a maiden indicated resource of 31.8 million ounces of silver contained within 3.07 million metric tons of material averaging 321.6 grams per metric ton (10.34 ounces) silver for the Dolly Varden, North Star, Torbrit, and Wolf deposits at its Dolly Varden property in northwestern British Columbia. Dolly Varden, the highest grade of these deposits, hosts 10.5 million oz silver in 522,000 metric tons averaging 625.1 g/t (20.1 oz/t) silver. Dolly Varden Interim President and CEO Rosie Moore said the robust mineral resource “means that this project warrants attention even at today’s metal prices.” The four deposits also host 10.8 million oz of silver at a grade of 373.3 g/t silver in the inferred category. Due to the lack of assay results from historical drilling, zinc and lead were not included in the estimate and is expected to enhance the value of the deposit.” This estimate will guide further work by identifying locations where tonnage and grade may be increased or where mineralization may be upgraded to higher confidence resource categories,” explained Moore. “We also look forward to using this information to explore for similar high-grade deposits on the remainder of the property where the same lithology, alteration and mineral occurrences exist.” Dolly Varden’s site work in 2014 and 2015 has focused on applying the known alteration, structural and lithologic signatures observed at these historic deposits to exploring for similar deposits across the 8,800-hectare (21,745 acres) property.

–Shane Lasley