The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Dolly Varden taps 9.2m of 27.44 g/t gold and 463 g/t silver North of 60 Mining News – December 2, 2022
A drill rig tests Homestake Ridge during a 2017 drill program on this Northern British Columbia gold-silver property.
Dolly Varden Silver Corp. Nov. 29 reported exceptional gold intercepts during resource upgrade and expansion drilling of the Homestake gold-silver deposits on its Kitsault Valley project in Northern British Columbia.
This marks the first assays from drilling at Homestake Ridge since Dolly Varden acquired the property from Fury Gold Mines Ltd. in February. Dolly Varden merged the adjoining properties into a single project that it named Kitsault Valley.
Lying immediately north of Dolly Varden's namesake silver property, the roughly 18,530-acre (7,500 hectares) Homestake Ridge project hosts 816,719 ounces of gold, 17.8 million oz of silver, 15.9 million pounds of copper, and 17.3 million lb of lead in three zones – Homestake Main, Homestake Silver and South Reef.
The objective of the 2022 drilling at Homestake Ridge was to expand multiple, subparallel mineralized zones and to upgrade inferred resources within the Homestake Main and Homestake Silver deposits.
The latest batch of Kitsault Valley assays is from drilling at Homestake Main, which hosts 736,000 metric tons of indicated resource averaging 7.02 grams per metric ton (165,993 oz) gold, 74.8 g/t (1.8 million oz) silver, 0.18% (2.9 million lb) copper, and 0.08% (1.3 million lb) lead; plus 1.75 million metric tons of inferred resource averaging 6.33 g/t (355,553 oz) gold, 35.9 g/t (2 million oz) silver, 0.35% (13.3 million lb) copper, and 0.11% (4.1 million lb) lead.
Highlights from drilling at Homestake Main include:
• 16.06 meters averaging 4.27 g/t gold and 64 g/t silver in hole HR22-314.
• Six meters averaging 6.47 g/t gold and 27 g/t silver in hole HR22-322.
• Ten meters averaging 7.18 g/t gold and 30 g/t silver in hole HR22-325.
• 9.16 meters averaging 27.44 g/t gold and 463 g/t silver in hole HR22-328.
• 15 meters averaging 5.68 g/t gold and 147 g/t silver in hole HR22-330.
• 21 meters averaging 3.79 g/t gold and 2 g/t silver in hole HR22-337.
• 2.5 meters averaging 14.56 g/t gold and 4 g/t silver in hole HR22-339.
"Our 2022 drill program has truly been exceptional," said Dolly Varden Silver President and CEO Shawn Khunkhun. "These intercepts demonstrate strong continuity of mineralization over wide intervals, similar to the recently announced high-grade results at the Wolf and Kitsol Deposits, located six kilometers to the south."
Dolly Varden completed a total of 37,061 meters of drilling at Kitsault Valley this year to upgrade and expand deposits at both the Homestake Ridge and Dolly Varden ends of this project.
"We eagerly anticipate additional assays from all of Dolly Varden's deposits, as well as new exploration targets drilled during the 2022 program," Khunkhun added.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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