Dolly Varden Silver Corp. – A New Silver Company
Dolly Varden Silver (TSX.V:DV) is a Canadian based mineral exploration company focused on the development of the historic Dolly Varden Silver Mines property located in Northwestern, British Columbia, Canada. The property hosts four historical deposits in stratigraphy that is analogous to Barrick’s Eskay Creek Deposit. The Dolly Varden Silver properties comprise 9,400 hectares (94 km2 ) located in the Stewart Complex, which is host to both base and precious metal deposits. The Company is currently focused on the expansion of historical resource estimates with the goal to re-start production in the Dolly Varden camp, and to explore a major untested Eskay Creek type precious metal rich target located on the property. A historic resource estimate completed on the properties in 1986 estimated 5.7 M ounces of silver (proven and probable) and 8.8 M oz of silver (possible)*. The objective of the company’s exporation work is to confirm and reclassify the historic resources as current mineral resources, and to expand the resource to a target of 40 to 50 million ounces of Silver. If successful the necessary economic and technical studies would be undertaken in order to determine if the deposit(s) could become a viable mining operation.
The Property can be accessed from Terrace, B.C. by a 224 km long, all-weather road to the mining town and port of Kitsault, which is located 2 km south of the village of Alice Arm. The village of Alice Arm can be reached from Kitsault by boat. Alternate access from Prince Rupert, B.C. can be accomplished via a privately contracted barge service or charter float plane service. From Alice Arm, the Property can be reached by a public highway comprised of 23 km of all-weather gravel surfaced road. In the 2011 exploration season, access beyond km 17 of the public highway was via helicopter.
Keys to Advancing Discovery
- Experienced management and technical team
- Stewart Complex – high-grade silver region
- British Columbia – mining friendly safe jurisdiction
- 100% control of Dolly Varden Mines property
- Historic mineral resources* forms the basis for exploration and resource expansion
- Potential for precious metal rich Eskay Creek type deposits
- Existing infrastructure – facilitates exploration and development
- Create value for shareholders in a rising precious metals market
- With key assets in this prolific silver producing region Dolly Varden Silver is poised for exploration and discovery to create shareholder value.
The scientific and technical information on this web site has been reviewed by Paul McGuigan, P.Geo, a qualified person under NI 43-101, who is the Vice President of Exploration, and a Director of Dolly Varden Silver Corporation.
Historic Silver Projects with a Golden Future
Dolly Varden Silver Corporation owns 100% of the Dolly Varden Mines historic silver property. The current favourable price of silver has renewed investor interest in this most historic of the silver mines in the Northwestern BC region. The property is best considered an advanced exploration stage property with well understood targets. Mine restarts will require the discovery of additional silver mineral resources and the confirmation of historic mineral resources that were known at the cessation of mining in 1959.
Geological work commissioned in the period 1979 to 1990 established the common geological characteristics of the major silver deposits and occurrences in the upper Kitsault Valley. The rock formations and the style of the mineralization and alteration on the Dolly Varden property share strong similarities to the nearby Eskay Creek deposit, which is an exceptionally rich gold and silver deposit, located 100 km north of the Dolly Varden Property.
located 100 km north of the Dolly Varden Property.
Northwestern BC region capturing new interest
| Major nearby projects: || |
| Eskay Creek (Barrick) Historic Production || 3.6 M oz Au + 180 M oz Ag |
| Brucejack (Pretium) || 8.2 M oz Au + 116.2 M oz Ag |
| Silback Premier (Ascot) Historic Production || 1.9 M oz Au + 42.8 M oz Ag |
| Kerr-Sulphurets (Seabridge Gold) || 38.5 M oz Au + 214 M oz Ag |
| BC Moly (Avanti) |
The Right Rocks - Surrounded By World-Class Projects
Historical resource estimate*:
- 5.7 M oz Ag Proven + Probable
- 8.5M oz Ag Possible
- extensively mapped by current management
- 631 diamond drill holes
- 44,090 meters total
- 7 km underground development
- 1980’s Engineering studies on mine, mill, and tailings design
- 2010 Airborne geophysical survey - 942 line km
- Excellent infrastructure and logistics for rehabilitation, development, and new exploration: 4600 meters of drilling completed on the Wolf Deposit in 2011.
*See home page for NI43 101 required disclosure on this historic resource estimate
The Way Forward - targeted exploration programs:
9,400 hectares (94 km2)
- 100% owned
- Four historically active mines
- Under-explored sectors - only 3% of property explored in detail
- Well understood targets
- 20 M Ag historic production
- Region with world-class projects
- Catalysts for higher valuation
- Northwestern BC region capturing new interest
The geology underlying the Dolly Varden property consists of volcano-sedimentary rocks belonging mostly to the lower and middle Jurassic Hazelton Group. These include intermediate volcanic and volcaniclastic rocks of the Betty Creek Formation and bimodal volcanic and sedimentary rocks of the Salmon River Formation.
The principal silver-base metal deposits of the Kitsault River valley have been interpreted as vein mineralization by early workers. Devlin (1986) reinterpreted the main deposits to be volcanic exhalative in origin. Deposits of this type are formed as sub-aqueous hot-spring type deposits on the seafloor, as products of hydrothermal solutions that have vented from sub-seafloor fracture and fault systems. Furthermore, the silver deposits of the upper Kitsault valley are mapped with important geological similarities to the Eskay Creek deposit, providing an analog for exploration on the Property.
The most prominent mineralized zone on the Property is an aerially extensive sheet of chemical sediment (“exhalative”) mineralization (the “DVT Exhalite”) that extends from the Dolly Varden mine, on the west, passing though the North Star underground workings and ending in the Torbrit mine, on the east. The DVT Exhalite body forms an almost continuous sheet, mostly ranging in true thickness from 3 to 38 m, which extends from the Dolly Varden West zone to Moose-Lamb. It is exposed for a strike length of 1.5 km on surface and is truncated on both extremities by late faults of unknown displacement. Separate from the DVT Exhalite body, the Red Point zone (on the western fringe of the upper Kitsault Valley) and the Wolf (on the eastern side of the valley) each have geological similarities to the targeted hydrothermal vein and sub-aqueous hot spring geology but might share a position higher in the volcanic stratigraphy than the DVT horizon.
Dolly Varden Silver Corporation - TSX-V:DV
Issued Common Shares 105,998,219
Options:- 500,000 @ $0.20
6,350,000 @ $0.25
750,000 @ $0.35 7,600,000
Warrants :- 5,000,000 @ $0.10 (Feb. 14, 2014)
212,800 @ $0.20 (Dec. 28, 2014)
Fully Diluted Shares O/S 118,811,219
Basic cash* $1.2 MM
Market Cap (Basic @ $0.21/share) Approx. $22 MM
* Cash position would increase by $2.49 million if all warrants and options exercised
Dolly Varden Silver Corp (TSX.V:DV)