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First Drill Results are 'Compelling,' High Grade

Source: Stuart McDougall   12/02/2022

One hole at this British Columbia property returned 75.13 grams per ton gold and 2,337 grams per ton…

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This article was originally published by The Gold Report

Source: Stuart McDougall   12/02/2022

One hole at this British Columbia property returned 75.13 grams per ton gold and 2,337 grams per ton silver over 1.77 meters, noted a Research Capital Corp. report.

Initial 2022 drill results from Dolly Varden Silver Corp.’s (DV:TSX.V; DOLLF:OTCQX) Homestake Ridge showed “equally compelling high-grade potential” when compared to recent intercepts from the adjoining Dolly Varden property, reported Research Capital Corp. analyst Stuart McDougall in a Nov. 29 research note.

While complete results for all the holes are still in the works, Mcdougall commented that Research Capital continues “to view the available [drill results] as generally supportive of each project’s exploration upside.”

The new results are from the first-ever drilling at Homestake Ridge since Dolly Varden acquired it earlier in the year and are mostly from infill holes.

This initial batch of holes returned high-and-low-grade mineralization, McDougall noted, and mineralization remains open for potential expansion. Among other highlights, two holes returning high grades are:

  • HR22-328: 75.13 grams per ton gold (75.13 g/t Au), 2,337 g/t silver (Ag) and 0.23% copper (Cu) over 1.77 meters (1.77m) starting about 163m downhole, followed shortly after by 216 g/t Au, 113 g/t Ag and 0.48% Cu over 0.5m
  • HR22-330: 54.1 g/t Au, 4,890 g/t Ag and 0.11% Cu over 0.39m starting 112m downhole, followed shortly after by two closely spaced intervals averaging 74.8 g/t Au and 20 g/t Ag over 0.39m and 33.8 g/t Au and 14 g/t Ag over 0.81m

Research Capital has a Speculative Buy rating and a CA$1.35 per share target price on Dolly Varden Silver, the current share price of which is about CA$0.84.

As for the low-grade results, McDougall wrote, many reflect “mineralized halos characteristic of the interpreted, structurally controlled, multiphasic epithermal vein and breccia system” at Homestake Ridge.

He described them as being akin to the separate Wolf and Kitsol veins about 6–7.5 kilometers to the south.

Investors can expect more results in the near term, as they have not been returned and reported yet for many of the 108 holes Dolly Varden Silver drilled this season at Homestake Ridge and Dolly Varden.

Research Capital has a Speculative Buy rating and a CA$1.35 per share target price on Dolly Varden Silver, the current share price of which is about CA$0.84.

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Disclosures:
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.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Dolly Varden Silver Corp. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: None. Please click here for more information.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.  As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dolly Varden Silver Corp., a company mentioned in this article.

Disclosures For Research Capital Corp., Dolly Varden Silver Corp.

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 www.researchcapital.com 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 www.researchcapital.ca. 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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