Dolly Varden Silver launches drill program 2013
Dolly Varden Silver launches drill program 2013
14. June 2013 - Vancouver, BC: Dolly Varden Silver Corporation (TSX.V: DV | US: DOLLF) ("Dolly Varden" or the "Company") is pleased to announce that teams have been mobilized and working on site to prepare the drill program for days in the Dolly Varden Property, which is located at a distance of 26 of road kilometers from the flooded area at the village of Alice Arm, British Columbia. The drill program is expected to start towards the end of June and will extend over the months of July and August.
The financing of this year's program is based on the recent equity financing of $ 4,5 million and the ongoing investment of Hecla Mining, our strategic investor, which decided to retain its equity stake of 19,9% in Dolly Varden Mining.
Our drill program is designed to begin 1) with the confirmation of historical resources totaling 14,5 million Uz silver at approximately 10 Uz / tonne (1); 2) to discover new silver resources in existing deposits; and 3) to identify a large silver and gold rich prospect just northwest of the Torbrit deposit and believed to be associated with the Red Point zone, which has a geological analogy with Eskay Creek.
The 2013 program builds on the significant work that has been done in the past two years, including diamond drilling over 6.300 meters, airborne VTEM and VTT geophysical surveys, and extensive over- and under-mining mapping and sampling. 2012 began underground mapping, sampling and surveying at the Torbrit deposit at the 1.025 foot level (312,4 m), which is part of the 7 km of usable mining structures and underground tunnels. This has proven to be invaluable in improving our understanding of the local control of high grade silver mineralization and the structure and stratification of deposits. Combined with extensive historical exploration, drilling and mining information, this data has provided the geological team led by Paul McGuigan, P. Geo, with a very good understanding of the relationship of the volcanogenic massive sulphide (VMS) system with existing silver deposits.
The geological interpretation indicates that the volcanic unit in which the historic Torbrit Mine is located forms an extensive stratigraphy that traverses from the target area of Dolly Varden through the target area of North Star to the target area of Torbrit over a strike distance of 1.500 meters can be. From the model, it can be seen that this unit continues northwest to Musketeer and further below the Red Point area. Northwest drilling towards the Red Point is expected to increase the likelihood of discovery of Eskay Creek mineralization.
The interpretation of the Red Point area reveals a large ore alteration system, comparable to the mineralized zone associated with the precious metal rich VMS Eskay Creek deposit, but to a far greater extent. Alteration at Red Point appears to be at least ten times the size of the Eskay Creek alteration zone, potentially suggesting a massive and older ore-bearing VMS zone.
The 2013 program begins with systematic drilling along the soled layer from Torbrit towards Red Point. Torbrit is the starting point for the field extension drilling program, which is moving toward the main / side corridor system that is believed to be at Red Point. However, it is expected that the mineralization will be continuous along the sole layer from Torbrit towards Red Point. The grades, widths and other structural information can now only be determined by drilling.
Sampling results from 2012
The following summary of sample results from the 2012 program indicates a higher silver volume around Torbrit. This will further geologically support the unified view of the entire Dolly Varden system.
To view the table, please follow the link:
http://www.irw-press.com/dokumente/DollyVarden_Tabelle140613_DEUTSCH.pdf
John King Burns, Chairman, commented: "The 2012 silver sampling, drilling and survey data, combined with geophysical and other geochemical and structural data, enabled our team to create the conceptual, consistent geological model of the target area and two Identify potential, continuous, massive and differently mineralized layers of soles. The second sole layer has been identified with our 2011 holes and is associated with the Wolf deposit, which is higher in stratigraphy. This identification was only possible as a result of our extensive work, which gave us a very good understanding of the geological conditions and the structure structure. Over the last two years, our dedicated team has been able to define Torbrit as an area with an expandable resource and as a launch pad from which to review and tap Torbrit's silver resources and begin to develop the ore-bearing VMS system in Systematically attack Red Point. We are hoping that drilling at Red Point will identify a size and type of Eskay Creek target area. Our drill model allowed us to define the silver mineralization during the course of the northern work to the Torbrit target for the identification of the VMS ore deposit zone, which provided evidence of further high grade lead, zinc, silver, copper and gold occurrences. Gentlemen, start your drill. "
The Company's common stock is listed and traded on the Canadian TSX-V under the symbol "DV" and in the US under the symbol "DOLLF".
Qualified expert
The scientific and technical information in this news release has been reviewed and approved by Ron Nichols, P.Eng., President and CEO, Qualified Person as defined by National Instrument 43-101. The Company has prepared a NI 43-101 compliant technical report for the Dolly Varden Property: "Technical Report Geology and Mineral Exploration of the Dolly Varden Property, British Columbia, Canada" (Technical Report on Geology and Mineral Exploration of the Dolly Varden Property, British Columbia, Canada) from 5. September 2011, revised version. The information regarding the results of 2012 sampling, including the location, azimuth and inclination of the wells, is the company's news release from the 8. February 2013 under the heading "Surface and Underground Exploration at the Torbrit and Dolly Varden Mines Provided Significant Silver Grades". All technical reports and press releases are available on the company's SEDAR profile at www.sedar.com.
FOR MORE INFORMATION, GET THERE ABOUT:
Vanguard Shareholder Solutions
Martin Gagel, MBA, CFA
Vice President
604-608-0824
877-608-0829
Strata Star
Gary Lindsey
Investor Relations
1-720-273-6224
[email protected]
Dolly Varden Silver Corporation
Ron Nichols, P. Eng.,
CEO & President
1-778-383-3083 (Phone)
1-855-381-3530 (toll-free)
www.dollyvardensilver.com
The TSX Venture Exchange and its regulators (referred to in the Articles of Incorporation of TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this release.
FUTURE-ORIENTED STATEMENTS:
Certain statements and information in this news release are considered "forward-looking statements" or "forward-looking information." Statements that explicitly or implicitly refer to forecasts, expectations, assumptions, plans, goals, assumptions, or future events or achievements (often, but not always, words or phrases such as "expected," "believes," "plans," "Estimates", "intentions", "goals", "forecasts", "potential" or variations of these terms, or expressed by means of statements that "may," "may," certain actions, events or results, "Would" or "become" or negative formulations of these terms and similar expressions), are not historical facts and may be forward-looking statements or information. Forward-looking statements or information include, but are not limited to, the Company's exploration plans relating to the Dolly Varden silver property.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties, and other factors that could cause actual events or results to differ materially from those set forth in the forward-looking statements or information. These include, but are not limited to: the additional capital needs of the company through financing models and the risk that these funds can not be raised; the speculative nature of the exploration and development stages in the Company's properties; that the company can not adequately validate historical resources to classify them as mineral resources or mineral reserves; and that the corresponding expectations or models regarding geology, mineralogy or metallurgy prove to be incorrect. This list does not list all factors that could affect the Company's forward-looking statements or information. The Company has endeavored to identify important factors that could cause actual results to differ materially. However, other factors may cause results not to be as expected, estimated, described or intended. Readers are advised not to rely unreservedly on forward-looking statements and information.
The Company's forward-looking statements and information are based on management's assumptions, expectations and opinions at the time of this press release. Unless required by law, the Company has no obligation to update these forward-looking statements or information as management's circumstances or beliefs, expectations and opinions change or other events that affect those statements or information change. For the reasons mentioned above, investors should not rely on forward-looking statements and information.
(1) Insufficient work has been done by a qualified expert to classify the historical estimates as current mineral resources, and the company does not treat these estimates as current mineral resources. A discussion of the key assumptions, parameters and methods relating to the historical resource estimate and a discussion of the relevance, reliability and other information relating to the estimate is provided in the Technical Report Geology and Mineral Exploration of Dolly Varden Property, British Columbia, Canada 5. September 2011, revised version, available on the company's SEDAR profile at www.sedar.com.
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