May 17, 2022
VANCOUVER, BC, May 17, 2022 – Vancouver, BC: Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce the initiation of field activities on its Kitsault Valley Project, located near tidewater in northwest British Columbia. Objectives of the 2022 Program includes: upgrade current Inferred Mineral Resources to Measured and Indicated classification, expand known deposits and to discover new silver and gold mineralization along the Kitsault Valley trend of multiple deposits and historic mines.
Shawn Khunkhun, President and CEO comments, “With a robust $25 million treasury, a discovery-focused technical team and a target-rich environment, 2022 is setting up to be an historic year for Dolly Varden Silver. With strategic and technical input from our supportive corporate shareholder: Hecla Mining, it is our goal to make new silver and gold discoveries as well as to dramatically grow and upgrade resource at our current deposits, setting the Company up to be the next development Project in the Golden Triangle.”
Three diamond drill rigs are being mobilized by barge to the village of Alice Arm to complete an initial 99 drill holes Program totalling 30,000 meters along the Kitsault Valley Trend. Camp expansion and infrastructure upgrades are underway to accommodate our expanded exploration team, with a significant contingent of team members of the Nisga’a Nation.
Dolly Varden’s Kitsault Valley Project currently hosts Indicated Resources of 34.7 million ounces of silver and 166 thousand ounces of gold with additional Inferred Resources of 29.3 million ounces of silver and 817 thousand ounces of gold within multiple outcropping deposits in the 163 square kilometer Property. Resource upgrade and expansion drilling will begin at the Torbrit silver deposit, initially targeting step-outs at the Wolf Mine and between the Torbrit and North Star silver Deposits.