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New Drill Results Expand Deposit, Leading to Buy Rating

November 15, 2022 ( Newswire) These early results of 2022 drilling at this Golden Triangle property highlight the presence of high silver grades and potential for future resource growth, noted a Haywood Securities report.

Dolly Varden Silver Corp. (DV:TSX.V; DOLLF:OTCQX) reported new drill results from its Kitsault Valley project, which show “expansion potential at Torbrit Main and on the Kitsol vein,” reported Haywood Securities analyst Dr. Geordie Mark in a Nov. 7 research note.

Mark also pointed out that only some of the 108 holes drilled have been reported, so a “long period of drill-related catalyst news” is expected from the Canadian explorer through Q4/22 and Q1/23.

The results Dolly Varden Silver just announced are from holes placed in and around the Torbrit deposit, Mark noted and showed two significant characteristics.

As such, the holes highlight the silver deposits’ high grade and “add to the holistic picture of resource growth and discovery around these silver-rich assets on the Kitsault Valley project.”

One discovered feature is updip extensions to the silver-rich Kitsol epithermal vein in DV22-298, which returned 10.78 meters (10.78m) of 372 grams per ton (372 g/t) silver.

Mark reiterated the “big draw for growth” has been the downdip extension of the Kitsol vein after hole DV22-283 reported 30m of 414 g/t silver.

The second characteristic identified at Torbrit is an incremental expansion of the main system in the southeast, as demonstrated via two holes, DV22-308 and DV22-312, both boasting excellent silver grades. The former hole returned 6.59m of 297 g/t silver; the latter showed 3.3m of 585 g/t silver.

In conclusion, Mark wrote, “we see significant growth potential around the Kitsol vein and a similarly oriented epithermal vein system to the north (e.g.,) Wolf, which, with the 2022 exploration data, elevate the understanding of geological controls and potential continuity of precious metals mineralization on the project area.”

Haywood has a Buy recommendation and a CA$1.60 target price on Dolly Varden Silver, which is currently trading at about CA$0.59 per share.


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 Haywood Capital Markets, Dolly Varden Silver Corp., November 7, 2022

Analyst Certification: I, Geordie Mark, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.

Important Disclosures: Of the companies included in the report the following Important Disclosures apply:

Haywood Securities, Inc. has reviewed lead projects of Dolly Varden Silver Corp. (DV-V), Artemis Gold Inc. (ARTG-V) and a portion of the expenses for this travel may have been reimbursed by the issuer.
Haywood Securities Inc. or one of its subsidiaries has managed or co-managed or participated as selling group in a public offering of securities for Dolly Varden Silver Corp. (DV-V), Artemis Gold Inc. (ARTG-V) in the last 12 months.
Haywood Securities, Inc. or one of its subsidiaries has received compensation for investment banking services from Dolly Varden Silver Corp. (DV-V), Artemis Gold Inc. (ARTG-V) in the past 24 months.

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