December 5, 2022 (Investorideas.com Newswire) Results of drilling there returned downplunge high-grade silver and expanded the mineralized system downdip, noted a Haywood Securities report.
Dolly Varden Silver Corp.’s (DV:TSX.V; DOLLF:OTCQX) drill results from the Wolf vein-breccia system at the Kitsault Valley project “highlight the continuity and growth potential at depth,” reported Haywood Securities analyst Dr. Geordie Mark in a Nov. 21 research note. Wolf is a subparallel system to the northwest of the Kitsol vein with a small defined resource.
“These results did not disappoint and affirm our belief of Wolf to grow well beyond the defined resource and lead to the augmentation of the global silver-rich resource base” on this project in British Columbia’s Golden Triangle,” Mark wrote.
Ideal Time To Invest Is Now
The analyst recommended purchasing shares of Dolly Varden Silver at current levels; the Buy-rated stock is trading at about CA$0.84 per share.
In comparison, Haywood’s target price on the company is CA$1.60, implying a significant potential return for investors.
“We believe that now is the right time for leverage in precious metals through investment in Dolly Varden Silver due to the collective asset position now held on the Kitsault Valley project area and the upside potential being germinated through the 2022 exploration program via drilling and maturation of system genesis insight for future targeting,” commented Mark.
Value in Growing to Depth
The Canadian mining company drilled Wolf to test for downplunge, high-grade silver mineralization to depth,” Mark noted. The results were positive.
For one, drilling returned high-grade silver. Hole DV22-316, for instance, showed 551 grams per ton (551 g/t) silver over 9.6 meters (9.6m), including 1,049 g/t silver over 3.6m. Hole DV22-311 demonstrated 412 g/t silver over 12.8m.
Drilling also showed “appreciable downdip expansion” of the known Wolf system, Mark reported, through holes DV22-316 and DV22-311. These were stepouts at about 207m and about 400m, respectively, from hole DV22-300.
“We note that the system probably continues to depth in DV22-320, highlighting system continuity,” the analyst added. “More to come in DV22-320. Watch this space!”
Mark highlighted that because Wolf and Kitsol have now both intersected mineralization, it is possible mineralization exists between the two.
Watch for More Results
Upcoming catalysts for Dolly Varden Silver through Q4/22 and Q1/23 include additional drill results from the gold and the silver systems at Kitsault Valley, noted Mark, to be followed by a resource update.
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 Securities, Dolly Varden Silver Corp.
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 Artemis Gold Inc. (ARTG-V) in the past 24 months.
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