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Drilling Returns Many High-Grade Au, Ag Intercepts

Source: Stuart McDougall   02/01/2023

Mineralization remains open for expansion at this mining project in British Columbia, noted a Research…

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This article was originally published by Streetwise Reports

Source: Stuart McDougall   02/01/2023

Mineralization remains open for expansion at this mining project in British Columbia, noted a Research Capital Corp. report.

Dolly Varden Silver Corp.’s (DV:TSX.V; DOLLF:OTCQX) newly reported drill results infilled and extended mineralization at its Homestake Ridge precious metals project in British Columbia, reported Stuart McDougall, Research Capital Corp. analyst, in a Jan. 30 research note.

“Mineralization also remains open for possible expansion with additional drilling,” McDougall added.

This new batch of drill results is the second one Dolly Varden has released since it acquired Homestake Ridge in February 2022. Most of these data are for infill holes the Canadian exploration company drilled in Homestake Ridge’s Main zone last year with the goal of upgrading existing Inferred resources, which stand at 5,545,000 tons.

Highlight Infill Results

The results comprise a mix of high- and low-grade mineralization, McDougall wrote and presented the high-grade highlights:

Infill hole HR22-333:

  • 13.95 grams per ton gold (13.95 g/t Au) and 196 g/t silver (Ag) over 0.78 meters (0.78m)
  • About 112 g/t Au, 162 g/t Ag and 0.37% copper (Cu) over 9.84m, including
  • 1,145 g/t Au, 826 g/t Ag and 0.51% Cu over 0.48m

These intercepts were enclosed by an envelope returning 3.71 g/t Au, about 10 g/t Ag and 0.07% Cu over 15.12m.

Infill hole HR22-359:

  • 0.74 g/t Au, 6,420 g/t Ag and 0.11% Cu over 0.5m
  • 49.49 g/t Au, 50 g/t Ag and 0.96% Cu over 1.52m
  • 46.2 g/t Au and 6 g/t Ag over 0.5m

Standout Stepout Results

Other newly reported results are from stepout holes Dolly Varden drilled last year in Homestake Ridge’s Silver zone. McDougall included the best ones in his report:

Stepout hole HR22-362:

  • 1,252 g/t Ag over 2.5m, including
  • 3,330 g/t Ag over 0.75m

“The intercept sits 200m downdip of the resource and, in our view, clearly points to expansion potential at depth,” McDougall wrote.

Stepout hole HR22-366:

  • 2,760 g/t Ag, 0.7 g/t Au and 0.06% Cu over 0.57m, starting about 473m downhole

As for the low-grade results from Homestake Ridge, many of them, McDougall wrote, reflect “mineralized halos characteristic of the interpreted structurally controlled, multiphasic epithermal vein and breccia system there, similar to the separate Wolf and Kitsolf veins, located 6–7.5 kilometers to the south.”

McDougall also reported Dolly Varden is well cashed up to continue advancing Homestake Ridge, having about CA$28 million in cash as of year-end 2022.

Research Capital has a Speculative Buy rating and a CA$1.35 per share price target on Dolly Varden, which is currently trading at CA$1.03 per share.

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1) Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

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Disclosures For Research Capital Corp., Dolly Varden Silver Corp., January 30, 2023

Analyst Certification: I, Stuart McDougall, certify the views expressed in this report were formed by my review of relevant company data and industry investigation, and accurately reflect my opinion about the investment merits of the securities mentioned in the report. I also certify that my compensation is not related to specific recommendations or views expressed in this report. Research Capital Corporation publishes research and investment recommendations for the use of its clients. Information regarding our categories of recommendations, quarterly summaries of the percentage of our recommendations which fall into each category and our policies regarding the release of our research reports is available at or may be requested by contacting the analyst. Each analyst of Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst’s personal views and (ii) no part of the research analyst’s compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.

General Disclosures: The opinions, estimates and projections contained in all Research Reports published by Research Capital Corporation (“RCC”) are those of RCC as of the date of publication and are subject to change without notice. RCC makes every effort to ensure that the contents have been compiled or derived from sources believed to be reliable and that contain information and opinions that are accurate and complete; RCC makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors and omissions which may be contained therein and accepts no liability whatsoever for any loss arising from any use of or reliance on its Research Reports or its contents. Information may be available to RCC that is not contained therein. Research Reports disseminated by RCC are not a solicitation to buy or sell. All securities not available in all jurisdictions.

Company Specific Disclosures: Within the past 12 months, Research Capital has provided investment banking services to the issuer.

Potential Conflicts of Interest: All Research Capital Corporation (“RCC”) Analysts are compensated based in part on the overall revenues of RCC, a portion of which are generated by investment banking activities. RCC may have had, or seek to have, an investment banking relationship with companies mentioned in this report. RCC and/or its officers, directors and employees may from time to time acquire, hold or sell securities mentioned in our Research Reports as principal or agent. RCC makes every effort possible to avoid conflicts of interest, however readers should assume that a conflict might exist, and therefore not rely solely on this report when evaluating whether or not to buy or sell the securities of subject companies.

RCC USA: Information about Research Capital Corporation’s Rating System, the distribution of our research to clients and the percentage of recommendations which are in each of our rating categories is available on our website at The information contained in this report has been drawn from sources believed to be reliable but its accuracy or completeness is not guaranteed, nor in providing it does Research Capital Corporation assume any responsibility or liability. Research Capital Corporation, its directors, officers and other employees may, from time to time, have positions in the securities mentioned herein. Contents of this report cannot be reproduced in whole or in part without the express permission of Research Capital Corporation. US Institutional Clients – Research Capital USA Inc., a wholly owned subsidiary of Research Capital Corporation, accepts responsibility for the contents of this report subject to the terms and limitations set out above. US firms or institutions receiving this report should effect transactions in securities discussed in the report through Research Capital USA Inc., a Broker – Dealer registered with the Financial Industry Regulatory Authority (FINRA).

( Companies Mentioned: DV:TSX.V; DOLLF:OTCQX,


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