VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/17/13 -- Dolly Varden Silver Corporation (TSX VENTURE: DV)(OTCBB: DOLLF) ("Dolly Varden" or the "Company) is pleased to announce that drilling has commenced on the Dolly Varden Property, located 26km by road from the tidewater at the village of Alice Arm, British Columbia.
This year's 3,000+ meter drill Program has begun with four holes for a total of 754 meters completed to date on the historically mined Torbrit deposit. A discussion of the results from these drill holes will be forthcoming in a subsequent news release. The Program will test for the continuation of the existing high-grade silver mineralization as it proceeds northwest onto the Musketeer property, towards the Red Point alteration - feeder zone. See following links for cross section and area maps.
DV Torbrit Target Area: http://dollyvardensilver.com/wp-content/uploads/2013/07/DV_Torbrit_TargetArea_2013_07_17.pdf
DV Torbrit Cross Section: http://dollyvardensilver.com/wp-content/uploads/2013/07/DV_Torbrit_CrossSection_2013_07_17.pdf
The goal of the 2013 drill program is to:
1) define a new silver resource estimate around the existing Torbrit workings, extending the known deposit to the northwest. The historic resource on the Dolly Varden Property, from the four known deposits, totals 14.5 million oz. Ag, of which 7.9 million oz. Ag has been outlined in the Torbrit deposit(1). See Website (http://dollyvardensilver.com/dolly-varden-project/661-2/).
(1) A Qualified Person has not done sufficient work to classify the historical estimates as current Mineral Resources and the Company is not treating such estimates as current Mineral Resources. A discussion of the material assumptions, parameters and methods relating to the historical resource estimate, as well as a discussion of relevance, reliability and other information regarding the estimate, is included in the Technical Report Geology and Mineral Exploration of the Dolly Varden Property, British Columbia, Canada, dated September 5, 2011, as revised, which is available under the Company's SEDAR profile at www.sedar.com.
2) demonstrate that Torbrit is part of a much larger Volcanogenic Massive Sulphide (VMS) system that points to a potentially larger and more extensive silver and gold rich target, located just northwest of the Torbrit at the Red Point zone. The Red Point alteration - feeder zone is geologically analogous to the alteration - feeder zone Eskay Creek; and
3) continue to gather geotechnical information that will improve the probability of finding an Eskay Creek type deposit at Red Point. Information taken from the 2013 program will increase our understanding of the geological setting, the controls to mineralization, and geometry of the Dolly Varden Torbrit (DVT) horizon.
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