July 6, 2021
Vancouver, BC – July 06, 2021 – Dolly Varden Silver Corporation (“Dolly Varden” or the “Company”) (TSXV: DV) (OTC:DOLLF), is pleased to announce that drilling has commenced at the Dolly Varden Silver Project, located near tidewater in northwest British Columbia. The initial surface diamond drill program will consist of 10,000 meters split 50/50 between infill and expansion of the high-grade, potentially bulk-mineable silver resource at the Torbrit deposit and regional exploration of multiple, highly prospective targets throughout the Property.
The 2021 Drilling Program is the first Phase of a two-year goal to aggressively expand and upgrade the Torbrit Silver Deposit and multiple silver-rich satellite zones with the objective of advancing Dolly Varden to be the next high-grade pure silver mine in British Columbia.
“We are excited to start the 2021 drill program at Torbrit Silver Deposit, where the recently geological modeling and interpretation suggests multiple areas to expand and upgrade the Mineral Resource. This drilling should lead to a much better understanding the deposit, new resource expansion areas and give us additional confidence to apply preliminary bulk underground mining designs and more advanced economic studies. Additionally, we will be testing some new very exciting exploration targets that developed subsequent to the 2020 exploration program.” said Shawn Khunkhun, CEO of Dolly Varden.
Drilling at Torbrit will be targeting areas within the updated block model where a high percentage of inferred resources exist and where the higher silver grade blocks are at the outer edges of the model (Figure 1). It is these areas that have the potential to expand the model out along the Torbrit horizon. In addition, infill drilling from 2020 indicates that a number of lenses that have been modelled out as separate zones coalesce in places into one continuous mineralized body creating an opportunity for expansion.
Figure 1: Proposed upgrade drilling in purple Torbrit Main (upper) and Torbrit North Offset (lower) Resource Block model (blue) with areas of inferred resources(purple) for upgrade to measured/indicated. Section looking Northwest
Torbrit is high-grade silver deposit that is potentially amenable to low-cost underground bulk mining methods. It is the largest portion of the four silver deposits that make up the current 43-101 Mineral Resource at the Dolly Varden Silver Project and the largest pureplay silver Project in British Columbia and Canada. Modern mining and processing occurred on the Property during the 1950’s and 60’s, in addition to direct-shipping silver mines throughout the Property during the first half of the 20th century. Underground workings are accessible from a road bed that connects the to deep tidewater docks at Alice Arm, BC. Work during 2021 will upgrade the road to the deposit, potentially in conjunction with other Companies operating in the area.
Resource modelling at the Torbrit Silver Deposit included integrating the 2019 and 2020 drilling results which has increased the understanding and confidence in the existing resource to target specific areas of the deposit for conversion from Inferred to Indicated/Measured resource categories. Drill holes have been planned from existing historic surface infrastructure to infill within the current block model and to expand the limits of known mineralization or satellite Zones. Additionally, geotechnical logging will be completed for upcoming mining studies.