At present, the most likely explanation for high-grade silver accumulations along this horizon, is an extensional graben or half-graben bounding fault that served as both a footwall conduit for venting hydrothermal fluids and as an ocean floor scarp that formed a linear depression, where mineralization could accumulate, within favorable locations along the extensive DVT exhalite horizon.
The program is expected to provide additional information about the geometry and attitude of this portion of the deposit, which will aid in following the entire trend down plunge northwest towards Red Point.
Size potential of Torbrit
It is possible to estimate a potential target tonnage that could be achieved from this year's work program, based on the dimensions listed. We anticipate that the 2013 program will add significant silver ounces to our resource inventory. The calculations shown below provide an indication of the range of tonnages of potentially well mineralized material that could be outlined. Grades will only be determined once the drill core is logged and analyzed.
1. 500m X 100m X 10m X 3.0 SG = 1.5 million tonnes
2. 500m X 100m X 15m X 3.0 SG = 2.25 million tonnes
3. 500m X 100m X 20m X 3.0 SG = 3.0 million tonnes
The potential tonnages set forth above are conceptual in nature and there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the target being delineated as a Mineral Resource.
Assumptions would have to be made about the consistency of the silver grades encountered over these volumes, but if grades similar to the historical results, and the 2012 underground sampling results are indicated, then the total number of ounces could increase rapidly. Further results will be released as assays are received in Q3 and Q4 2013.
The scientific and technical information in this release has been reviewed and approved by Ron Nichols, P.Eng., President and CEO, a Qualified Person under the terms of National Instrument 43-101.
Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. Forward looking statements or information relates to, among other things, (a) the Company's exploration plans for the Dolly Varden silver property, (b) the Company's expectations and goals for the Company's drilling program, including to define a new silver resource estimate, (c) potential target tonnages and the Company's projection that the 2013 program will add significant silver ounces to its resource inventory.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; that the Company may not confirm historical resources to a level sufficient to declaring Mineral Resources or Mineral Reserves; and that expected geological, mineral or metallurgical expectations or models may not prove to be correct. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
(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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Vanguard Shareholder Solutions
Martin Gagel, MBA, CFA
604-608-0824 or 877-608-0829
Dolly Varden Silver Corporation
Ron Nichols, P.Eng.
CEO and President
1-778-383-3083 or Toll Free: 1-855-381-3530
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