Dolly Varden Silver’s 100% held, 163 sq. km. Kitsault Valley project is located in the southern tip of the Golden Triangle of British Columbia, just south of the high-grade Brucejack and Eskay Creek gold mines.
The project hosts a high-grade mineral resource of silver and gold and is considered prospective for hosting further precious metal deposits.
The Kitsault Valley Project is unique. It contains the Dolly Varden property with silver resources, the Homestake Ridge property with gold, silver, copper and lead resources, and the Big Bulk property, a copper-gold porphyry system. Together the consolidated KV Project creates one large, high-grade precious metals project comprising 16,300 hectares, which is 100% held by Dolly Varden. This provides the Company with economies of scale and exploration upside potential in the silver and gold-rich Dolly Varden mining camp, north of Alice Arm, BC, within the regionally important and prolific Stewart Complex in northwestern BC.
Combined silver and gold resources of the Kitsault Valley project include:
| Category | Property | Cut-Off | Tonnes | Ag (g/t) | Ag (oz) | Au (g/t) | Au (oz) |
|---|---|---|---|---|---|---|---|
| Indicated | Dolly Varden | 150 g/t Ag | 3,417,000 | 299.8 | 32,931,000 | ||
| Homestake Ridge | 2.0 g/t AuEq | 736,000 | 74.8 | 1,800,000 | 7.02 | 165,993 | |
| Total | 34,731,000 | 165,993 | |||||
| Inferred | Dolly Varden | 150 g/t Ag | 1,285,300 | 277.0 | 11,447,000 | ||
| Homestake Ridge | 2.0 g/t AuEq | 5,545,000 | 100.0 | 17,380,000 | 4.58 | 816,719 | |
| Total | 29,277,000 | 816,719 | |||||
The Dolly Varden property encompasses several historic underground workings, including historic production stopes from the Dolly Varden and Torbrit mines, exploration adits at North Star and Wolf, as well as several other showings and many mineralized prospects. The silver-rich deposits found on the Dolly Varden property are hosted in Jurassic-aged volcanic and sedimentary rocks (Iskut River Formation) of the Hazelton Group. They display textural and mineralogical similarity to mineralization found in the region in subaqueous, gold- and silver-rich, hot spring-type volcanogenic massive sulfide (VMS) and epithermal style deposits, such as the Eskay Creek and Brucejack deposits, respectively. The nearby Big Bulk property hosts porphyry copper-gold style mineralization.
The Homestake Ridge property consists of a 7,500-hectare project area hosting three known deposits that make up the Homestake Ridge portion of the Current Mineral Resource Estimate over the Kitsault Valley Project. Mineralization in Homestake Main, Homestake Silver and South Reef deposits is interpreted to be structurally controlled epithermal veins and breccia systems within the prospective Jurassic Hazelton, the same formation hosting the deposits in the Dolly Varden property area.
