The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
North of 60 Mining News - June 19, 2024
Core from a five-meter interval in hole DV24-387 drilled into the Moose Vein that averages 978 g/t silver.
Map of the 2024 drill targets along the Kitsault Valley Trend.
Dolly Varden Silver Corp. June 19 announced that this year's drilling has cut high-grade silver mineralization at the Moose and Chance veins, the northernmost targets on the Dolly Varden end of its Kitsault Valley project in Northern British Columbia.
Lying about 25 miles (40 kilometers) south of Stewart, B.C., Kitsault Valley is a 63-square-mile (163 square kilometers) land package that is an amalgamation of Dolly Varden's namesake project and the adjacent Homestake Ridge gold-silver project the company acquired from Fury Gold Mines Ltd. in 2022.
Four deposits associated with historic mines on the Dolly Varden end of Kitsault Valley – Dolly Varden, Torbrit, North Star, and Wolf – host 3.42 million metric tons of indicated resource averaging 299.8 grams per metric ton (32.9 million ounces) silver; plus 1.29 million metric tons of inferred resource averaging 277 g/t (11.4 million oz) silver.
Homestake Ridge, which lies 5.4 kilometers (3.4 miles) northwest of Wolf, hosts three deposits – Homestake Main, Homestake Silver, and South Reef – with 736,000 metric tons of indicated resource averaging 7.02 g/t (165,993 oz) gold and 74.8 g/t (1.8 million oz) silver; plus 5.55 million metric tons of inferred resource averaging 4.58 g/t (816,719 oz) gold and 100 g/t (17.8 million oz) silver.
Map of the 2024 drill targets along the Kitsault Valley Trend.
The first assays from the 2024 drilling at Kitsault Valley are from two early staged targets that could extend the more silver-dominant Dolly Varden deposits further north toward Homestake Ridge.
This includes high-grade silver at Moose Vein, about 1,400 meters north of Wolf, the northernmost of the five Dolly Varden deposits.
This year's drilling at Moose follows up on drilling completed last year that confirmed this vein's similarity to Wolf.
One hole drilled at Moose last year (DV23-371) cut 7.55 meters averaging 269 g/t silver.
The first hole drilled at Moose this year (DV24-387) cut five meters averaging 977 g/t silver.
"These excellent results from the first hole at the Moose Vein from the 2024 program exhibits similar geological and mineralization features to the Wolf deposit located 1,400 meter south, suggests that this area has potential to emerge into the northernmost silver deposit along the five-kilometer-long trend that also hosts the Dolly Varden, Torbit and North Star deposits," said Dolly Varden Silver CEO Shawn Khunkhun.
The first batch of 2024 assays also includes 23 meters averaging 206 g/t silver in hole DV24-388 drilled at Chance Vein, which lies about 800 meters northeast of Moose.
Khunkhun said the significant width of silver mineralization in this first Chance hole is "very encouraging."
Dolly Varden plans to complete roughly 25,000 meters of drilling during the first phase of 2024 drilling at Kitsault Valley. Three rigs are currently turning on the project, and 25 holes have already been completed or are in progress.
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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