Dolly Varden Silver (DV.V) made the right decision by snubbing the lowball offer from Hecla Mining (HL) last year as its 2017 exploration program yielded much better results than we originally had anticipated. The company has been releasing assay results throughout late summer and the fall, and its seventh batch of assay results has confirmed the discovery of a third mineralized system.
Hole 76 intersected almost 23 meters (true width) containing almost 4 oz/t silver and 1.1% ZnPb, but this included a much higher grade interval of 5.74 meters (TW) containing almost 10 ounces of silver per tonne of rock, as well as a slightly lower zinc-lead credit (0.85% combined). The other drill holes were very successful as well, and the Dolly Varden-Torbrit Horizon has now been extended to in excess of 850 meters.
It’s safe to say the 45 hole drill program wherein the company completed in excess of 15,000 meters of drilling was a success. Approximately 12,000 meters of the total exploration program was aimed at following up on potential new mineralization, and with four discoveries (three important ones) on the Dolly Varden land package, this C$6.5M drill program was definitely worth it.