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Silver Co. To Drill 40,000 Meters at Golden Triangle Project

Source: : Geordie Mark

 

May 1, 2023 (Investorideas.com Newswire) Now is the time to accumulate shares in this mining firm, in advance of the upside potential to be realized from this year's drill program, noted a Haywood Securities report.


Dolly Varden Silver Corp. (DV:TSX.V; DOLLF:OTCQX) announced a "bigger than expected" 2023 exploration plan for its Kitsault Valley project in British Columbia's Golden Triangle, to start in Q2/23," reported Haywood Securities analyst Dr. Geordie Mark in an April 24 research note.

"Now is the right time for leverage in precious metals through investment in Dolly Varden Silver on 2022 results and the upside potential to be germinated in the 2023 program," Mark wrote.

Accordingly, Haywood rates the Dolly Varden Silver Buy and projects an 85% return for investors with its target price of CA$2 per share. The mining company's current price is CA$1.08 per share.

Plan at a Glance

During this quarter, Dolly Varden Silver will activate five rigs at the start of a 40,000-45,000 meter (40,000-45,000m) drill program at Kitsault Valley slated for this season, Mark wrote, "to focus on discovery, growth, and derisking (infill) across the portfolio of silver and gold-rich epithermal systems." This year's drill campaign is bigger than last year's, which spanned 37,000m.

Targets will be a mix of recently drilled and yet-to-be-drilled ones.

"We believe that drilling on new targets across the strike length of the Kitsault Valley trend can continue for years with 2023 only just starting to demonstrate the value add created through overall project area consolidation completed in early 2022," wrote Mark.

Areas of Focus

The following four targets certainly will be among those that Dolly Varden Silver drills this year, reported Mark.

1) Wolf vein: Following up on last year's success here, drilling will test for strike length extension of the system and for the existence of a parallel silver-rich vein set.

2) Kitsol vein: This high-grade silver vein will undergo incremental stepout targeting.

3) Homestake Ridge: Both silver and gold mineralization will be targeted here. Dolly Varden Silver drill previously encountered high-grade gold mineralization for down plunge extensions, and drill historically hit silver-rich mineralization in stepout fashion.

"Oriented core drilling is critical to understanding the geodynamic evolution of these systems and the targeting for vein continuity," explained Mark.

4) Moose vein: This is a new target located in the potassic alteration envelope of the high-grade silver Torbrit system and the site of former workings. The silver-gold mineralization of the Moose vein has been shown to be geologically similar to that of the Wolf vein, about 1,500m to the south.

"Moose represents another step north that fills the gap between the 'silver-rich Dolly Varden systems' in the south and the 'gold-rich Homestake systems' in the north," Mark wrote.

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. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 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) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The 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 Haywood Capital Markets, Dolly Varden Silver Corp., April 24, 2023

Important Information:

This report has been prepared by B. Riley Securities, Inc. ("B. Riley Securities") and may be distributed by its affiliates and subsidiaries as third-party research pursuant to FINRA Rule 2241. National Holdings Corporation, parent company to National Securities Corporation ("National Securities"), is a subsidiary of B. Riley Financial, Inc., which is the parent company to B. Riley Securities and its affiliate B. Riley Wealth Management, Inc. ("B. Riley Wealth"). As such, each of National Securities and B. Riley Wealth may distribute B. Riley Securities research pursuant to Rule 2241 and by mutual agreement.

B. Riley Securities, B. Riley Wealth, and National Securities are broker-dealer registered with the SEC and are members of FINRA, SIPC, and the NASDAQ stock market.

The principal business address of B. Riley Securities is 11100 Santa Monica Blvd., Suite 800, Los Angeles, CA 90025. The principal business address of B. Riley Wealth is 40 S. Main Street, Suite 1800, Memphis, TN 38103.

The principal business address of National Securities is 200 Vesey Street, 25th Floor, New York, NY 10281.

Company-Specific Disclosures: B. Riley Securities, Inc. or any of its affiliates, expects to receive or intend to seek compensation for investment banking services from Seabridge Gold Inc. in the next 3 months.

B. Riley Securities, Inc. or any of its affiliates, has received compensation for investment banking services from Seabridge Gold Inc. in the past 12 months.

Seabridge Gold Inc. currently is, or within the past 12 months was, a client of B. Riley Securities, Inc. The services provided were Investment Banking Services.

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General Disclosures: Information about the Research Analyst Responsible for this report:

The primary analyst(s) covering the issuer(s), Lucas N. Pipes, CFA, certifies (certify) that the views expressed herein accurately reflect the analyst's personal views as to the subject securities and issuers and further certifies that no part of such analyst's compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the analyst in the report. The analyst(s) responsible for this research report has received and is eligible to receive compensation, including bonus compensation, based on B. Riley Securities, Inc.'s overall operating revenues, including revenues generated by its investment banking activities.

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