Dolly Varden (DV.V) continues to rapidly advance its Kitsault Valley project as the company has recently released assay results from both the Wolf Zone (part of the Dolly Varden area which is silver-heavy) as well as the Homestake Zone (which is gold-heavy). Dolly Varden completed in excess of 37,000 meters of drilling in 108 holes during 2022 and the recently announced assay results were the last holes the company still had to report back on.

The recently released assay results from the Wolf Zone are very strong. The company intersected 15.94 meters of 1,499 g/t silver and 2.35% ZnPb in hole DV22-329. As the true width is estimated at 8.77 meters, this is an excellent result. Even if you would take out the 0.19 meters of estimated true width of 23,997 g/t silver, the residual silver value in the remaining 8.58 meters is still about 1,000 g/t so although the narrow interval of almost 24 kilograms of silver per tonne of rock sounds like it massively boosted the average grade, this can’t be considered smearing.

The other highlighted hole at the Wolf Vein contained 12.85 meters (6.81 meters true width) of 321 g/t silver and approximately 1.68% ZnPb including a higher grade interval of 0.86 meters true width containing 664 g/t silver and 5.78% ZnPb.

The exploration/discovery drilling t the Kitsol Vein also yielded very interesting results with for instance 9.6 meters (on a true width basis) containing 301 g/t silver and 0.79% ZnPb which confirmed the presence of higher grade silver mineralization encountered in previous holes at Kitsol (including 30 meters of true width containing 414 g/t silver and 8.9 meters of true width with 442 g/t silver.

The company also completed three holes at Red Point, an exploration target just a little bit to the west of Kitsol. Interestingly, the assay results from Red Point are pretty gold-heavy: hole 321 encountered 1 meter of 8.1 g/t gold, 244 g/t silver and 5.16% copper while hole 322 intersected 1.15 meters of 17.2 g/t gold and 1.65% copper.

Dolly Varden is still connecting the dots and the company will focus on connecting the Kitsol and Wolf Vein system in 2023. Although there’s almost 1.5 kilometers in between both confirmed discoveries it would be interesting to see how Dolly Varden can improve its understanding of the project and the geological structures.

Disclosure: The author has a long position in Dolly Varden Silver. Please read our disclaimer.

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