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New Mineralized Zone Discovered at Dolly Varden Silver

02.08.2018  |  CNW

VANCOUVER, Aug. 2, 2018 /CNW/ - Dolly Varden Silver Corp. (TSX.V:"DV" – OTCBB:"DOLLF") (the "Company", or "Dolly Varden") is pleased to announce the results of the first batch of 10 drill holes from the 2018 diamond drilling program. Amongst the intercepts is a new mineralized zone named the "Bonus Zone", located in the footwall block, northeast of the Moose-Lamb fault, north of the Torbrit Mine. The Dolly Varden Silver Property is in "The Golden Triangle" of northwestern British Columbia, Canada.

In the Bonus Zone, hole DV18-083 yielded 15.50 metres (7.75 m estimated true thickness) grading Ag 161.4 g/t, Pb 0.25 % and Zn 0.20 %, for a silver-equivalent of 183.7 g/t. Within this intercept are 4.65 metres (2.33 m estimated true thickness) grading Ag 347.0 g/t, Pb 0.16 % and Zn 0.16 %, for a silver-equivalent of 363.0 g/t.

In the Torbrit North target, hole DV18-086 yielded 8.32 metres (8.07 m estimated true thickness) grading Ag 248.4 g/t, Pb 0.15 % and Zn 0.10 %, for a silver-equivalent of 261.0 g/t. Within this intercept are 2.00 metres (1.94 m estimated true thickness) grading Ag 559.5 g/t, Pb 0.06 % and Zn 0.10 %, for a silver-equivalent of 567.7 g/t.

Gary Cope, President & CEO, says; "With the new Bonus Zone, Dolly Varden continues to yield more targets for exploration. Additional results will be announced throughout this drilling season. We anticipate the 2018 drilling season data will be incorporated in an update of the mineral resource estimate for the first quarter of 2019."

Hole/Zone

From

(m)

To

(m)

Core

Length

Est. True

Width

Ag

(g/t)

Pb

(g/t)

Zn

(g/t)

Ag-Eq

(g/t)

DV18-081









Bonus

218.85

235.40

16.55

5.79

114.6

0.12

0.14

127.5

  Includes

218.85

223.15

4.30

1.51

219.5

0.18

0.24

240.9

  Includes

221.85

223.15

1.30

0.46

381.1

0.11

0.28

401.1

  Includes

221.85

222.45

0.60

0.21

415.0

0.09

0.33

436.5

Unnamed

243.90

248.10

4.20

1.47

144.4

0.05

0.05

149.3

  Includes

245.90

248.10

2.20

0.77

186.6

0.05

0.05

191.6

  Includes

246.90

248.10

1.20

0.42

248.0

0.07

0.04

253.4

Unnamed

291.30

294.30

3.00

1.05

38.7

0.41

0.31

74.3

  Includes

291.30

292.30

1.00

0.35

48.0

0.88

0.61

121.1

Torbrit-N

433.50

442.30

8.80

4.40

94.0

0.24

0.19

115.3

  Includes

437.20

442.30

5.10

2.55

136.1

0.38

0.29

169.3

  Includes

439.20

440.20

1.00

0.50

414.0

0.73

0.32

465.0










DV18-082

No significant intercepts










DV18-083









Bonus

123.50

139.00

15.50

7.75

161.4

0.25

0.20

183.7

  Includes

123.50

128.15

4.65

2.33

347.0

0.16

0.16

363.0

  Includes

126.00

128.15

2.15

1.08

638.4

0.25

0.19

660.1

  Includes

127.00

128.15

1.15

0.58

944.0

0.37

0.17

970.2










DV18-084









Bonus

173.00

190.15

17.15

8.58

97.9

0.09

0.25

115.5

  Includes

177.70

186.70

9.00

4.50

148.6

0.11

0.28

168.7

  Includes

178.70

183.70

5.00

2.50

174.7

0.15

0.41

203.6

  Includes

178.70

179.70

1.00

0.50

280.0

0.19

0.22

300.6

Unnamed

244.40

254.60

10.20

5.10

117.8

0.11

0.15

130.9

  Includes

249.40

254.60

5.20

2.60

148.9

0.17

0.22

168.6

  Includes

253.40

254.60

1.20

0.60

234.0

0.24

0.22

256.9

Unnamed

269.80

270.50

0.70

0.35

184.0

0.07

0.04

189.4










DV18-085

No significant intercepts – Mafic Dykes










DV18-086









Torbrit-N

397.00

411.12

14.12

13.70

162.8

0.14

0.10

174.6

  Includes

400.68

409.00

8.32

8.07

248.4

0.15

0.10

261.0

  Includes

407.00

409.00

2.00

1.94

559.5

0.06

0.10

567.7

  Includes

407.00

408.00

1.00

0.97

642.0

0.03

0.04

645.4










DV18-087









Moose-L

153.50

162.50

9.00

4.50

61.1

0.05

0.05

66.3

  Includes

153.50

158.00

4.50

2.25

98.4

0.10

0.06

106.2

  Includes

155.00

156.50

1.50

0.75

160.0

0.25

0.03

173.1










DV18-088









Moose-L

105.00

113.00

8.00

4.00

76.2

0.10

1.20

145.2

  Includes

106.90

110.00

3.10

1.55

145.7

0.07

0.19

159.0

  Includes

108.00

109.00

1.00

0.50

175.0

0.05

0.03

183.8










DV18-089









Moose-L

81.60

98.50

16.90

10.82

85.4

0.60

0.70

150.7

  Includes

86.00

90.00

4.00

2.56

212.3

0.64

0.56

271.8

  Includes

89.00

90.00

1.00

0.64

533.0

0.04

0.15

543.1

Torbrit-N

330.80

332.90

2.10

1.97

109.8

0.27

0.39

143.4

  Includes

330.80

332.00

1.20

1.13

129.0

0.26

0.23

153.6










DV18-090









Unnamed

394.10

397.30

3.20

2.77

84.7

0.75

0.07

123.0

  Includes

394.10

396.10

2.00

1.73

87.9

0.96

0.06

135.4

Torbrit-N

450.80

460.90

10.10

8.75

107.9

0.78

0.32

161.2

  Includes

450.80

454.25

3.45

2.99

163.6

0.39

0.47

206.7

  Includes

450.80

451.80

1.00

0.87

257.0

0.81

1.18

357.8










 

Silver Equivalent (Ag-Eq) is based on metal prices of Ag=$16.00/oz, Pb=$1.08/lb and Zn=$1.25/lb. No provision has been made for relative metal recovery, so Ag-Eq values assume 100% recovery. Ag-Eq = Ag + (Pb%*22.046*Pbprice*31.103/Agprice) + (Zn%*22.046*Znprice*31.103/Agprice).

The 2018 drilling program is designed to focus on resource delineation and verification, particularly in the areas of the new discoveries from the 2017 exploration season (see news releases of August 29, November 27 and December 4, 2017). These include Torbrit North, Torbrit East and Moose-Lamb targets, as well as areas around the Torbrit and the Dolly Varden deposits.

The Torbrit North and Torbrit East discoveries are of the exhalative-style of silver and base metal mineralization along the Dolly Varden – Torbrit Horizon ("DVTH"), similar to the historic Torbrit Mine, but located in parallel and/or fault offset basins. The Torbrit North target is located 200 metres north and 220 metres deeper than the historic Torbrit Mine, in the footwall block northeast of the Moose-Lamb Fault. The Torbrit East target is located 70 metres east and 60 metres higher than the historic Torbrit Mine, in the hanging-wall block southwest of the Moose-Lamb Fault. It appears in two horizons as the Upper-Torbrit East and the Lower-Torbrit East.

The Moose Lamb target discovery is an epithermal vein-style of mineralization and is similar to mineralization at the historic Dolly Varden Mine. It is adjacent to a major syn-basinal fault by the same name.

Exploration drilling is also marked for the Potassic Alteration Belt and in the Gold Belt Transect on the western side of the valley. Additional targets may be tested as the season progresses.

Analytical testing was performed by ALS Canada Ltd. in Vancouver, British Columbia. Multi-element analyses was determined by Inductively–Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. A QA/QC procedure is maintained through the insertion of certified geo-standards provided by CDN Resource Laboratories Ltd., as well as the insertion of blanks, in the sample stream.

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' as defined in NI 43-101, and have approved the scientific and technical information contained in this news release.

Apex Geoscience Ltd. has been contracted to provide independent geological consulting in the field of mineral resource estimation for the Dolly Varden project.

Hole

Northing

Easting

Elevation

Azimuth

Dip

Length (m)

DV18081

6171753

467993

481

45

-86

549

DV18082

6171753

467993

481

45

-63

359

DV18083

6171753

467993

481

45

-76

470

DV18084

6171753

467993

481

135

-85

600

DV18085

6171753

467993

481

135

-45

203

DV18086

6171601

467887

358.5

43

-70

577

DV18087

6171542

467937

368.5

43

-70

506

DV18088

6171601

467887

358.5

43

-83

650

DV18089

6171542

467937

368.5

43

-50

365

DV18090

6171638.7

467833.2

350

43

-72

548






Total:

4,827 m

 

About Dolly Varden

Dolly Varden 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.

Dolly Varden is also a member of the British Columbia Regional Mining Alliance ("BCRMA"), a cooperative effort between First Nations, Industry and the BC Provincial Government, to promote mining activities and investment in the northwestern region.

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.

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, 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, and 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.



Contact
Dolly Varden Silver Corp., Gary Cope, President and CEO, 1-604-687-8566, www.dollyvardensilver.com; Dolly Varden Silver Corp., Alex Tsakumis, VP - Corporate Development, 1-604-687-8566, Email: alex@belcarragroup.com
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