Dolly Varden Silver Corporation (DV.V)(US:DOLLF) is a mineral exploration company focused on the Dolly Varden silver project located in northwestern British Columbia, Canada, 25km by road from deep tide water. The 8,800 hectare properties host a robust high-grade mineral resource totaling 44.5Moz Ag including Indicated 33 million oz Ag @ 300g/t and Inferred 11.5 million oz Ag @ 277g/t, and are considered to be highly prospective for hosting further high-grade deposits. The Dolly Varden project is located in the famous Golden Triangle, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek, Snip and Brucejack, and many other well-known mines and deposits like Saddle, Red Chris, Schaft Creek, Galore Creek and KSM.
The company fully owns the Dolly Varden Mines’ historic silver property which hosts 4 historic silver mines, of which the last one ceased mining in 1959 due to low silver prices despite still having considerable historic resources. As mineralization is relatively shallow although not eligible for open pit mining, surface drilling was sufficient to confirm those historic resources, and Dolly Varden has built them out to current size. As far as management is concerned, this is a steppingstone for more exploration potential on the extensive properties, which are thought to have similar resource mineralization styles as the known deposits.
President and CEO Shawn Khunkhun is an up-and-coming man, also being CEO of StrikePoint Gold, and director of Goldshore Resources, with a very strong network in the financial part of the mining industry. He is supported by VP Exploration, Rob van Egmond who has 25 years of experience as a geologist at companies like BHP, Cominco, Candente, Northern Dynasty and Platinum Group Metals. The most notable director and also technical advisor of Dolly Varden is Rob McLeod, a very experienced geoscientist and member of the well-known McLeod mining family, who has held various positions at juniors that were taken over, like Underworld Resources and IDM Mining.
With mining sentiment recovering, management feels Dolly Varden is ready for the next stage. The company has a full treasury with $20M due to capital raises in 2020 totaling $26M. Drill results for the Torbrit deposit are due in December 2021, and management has indicated it is busy looking to acquire other advanced silver projects, potentially synergetic with the Dolly Varden project. The company is backed by the likes of Eric Sprott and Jeff Zicherman of Eventus Capital. Zicherman rescued Dolly Varden almost singlehandedly from a hostile takeover from Hecla Mining in 2015 and is still very much convinced of the future potential of this stock. The way Hecla was and reportedly still is after this revitalizing silver explorer bodes well for future take-over potential. And if Dolly Varden succeeds in their goal for 100Moz high grade silver, it will without doubt appear on the radar of many more suitors.
Share price Dolly Varden Silver: