Dolly Varden Silver begins its 2024 exploration drill program at the Kitsault Valley Project in BC’s Golden Triangle. The program, which started on May 21, involves three drill rigs mobilizing for an initial 25,000 meters of diamond drilling. The focus will be on the Homestake Silver and Wolf Deposits, with a particular emphasis on testing for new discoveries and following up on high-grade silver mineralization encountered in the previous year’s drilling program.
The company’s CEO, Shawn Khunkhun, expressed excitement about the early start of the program and the potential for resource expansion and high-grade mineralization. The summer drill program will also target the Moose Vein, Chance Vein, and North Star Deposit, aiming to verify the presence of mineralized structures underneath the sedimentary cap.
With notable shareholders such as Hecla, Dolly Varden Silver has seen an increase in interest and investment. Hecla Canada recently invested $10 million in DV Silver, raising its stake in the company to 15.7%. Hecla Mining, with a market cap of $3.52 billion, is set to produce 17 million ounces of silver in 2024.
Analysts at TD Securities have reiterated their bullish outlook for silver, highlighting the potential for a major breakout in prices. Dolly Varden’s CEO, Khunkhun, remains optimistic about the company’s prospects, especially as the price of silver continues to rise. The exploration program’s first drill results are expected to be released by the end of June, with ongoing updates planned throughout the summer.
