DOLLY VARDEN SILVER CORPORATION (via TheNewswire)
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DV Silver is developing its 100% held
“We acquired Homestake at the beginning of 2022, and it doubled the size of our project,”
“Homestake is split between three deposits,” Egmond continued. “The main two are Homestake Main and Homestake Silver. The first year we did infill drilling at Homestake Main to make sure the continuity and grade lined up with the stated resource. That was successful. The infill holes had higher grades than the resource.”
“We are drilling both Homestake deposits with ‘oriented core’, which gives us the structural measurement of the vein,how it sits in real space. We are using that to develop a model.”
The 23 drillholes reported total 12,150 meters of drilling targeting priority zones within the deposit and have significantly expanded the width and extent of the reinterpreted high-grade silver and gold mineralized plunge.
Highlights from Homestake Silver(intervals shown are core length**):
HR23-419: Mineralized envelope: 315 g/t AgEq (2.57 g/t Au and 102 g/t Ag) over 79.20 meters.
HR23-416 Mineralized envelope: 357 g/t AgEq (1.74 g/t Au, 213 g/t Ag) over 93.95 meters.
HR23-415: Mineralized envelope: 630 g/t AgEq (5.11 g/t Au and 206 g/t Ag) over 22.80 meters
HR23-413: Mineralized envelope: 226 g/t AgEq (1.40 g/t Au and 110 g/t Ag) over 40.00 meters.
HR23-407: Mineralized envelope: 246 g/t AgEq (2.32 g/t Au and 54 g/t Ag) over 55.90 meters.
HR23-411: Expansion step out hole to the southeast; 445 g/t AgEq (0.91 g/t Au and 369 g/t Ag) over 10.55 meters.
**Estimated true widths vary depending on intersection angles and range from 65% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated
"The 2023 drilling at Homestake Silver has identifieda substantial zone of exceptional precious metal grades, often typified by multiple phases of silver and gold mineralization, over wide, continuous intervals that arepotentially amendable to bulk underground mining methods," stated
Bulk mining generally has lower mining costs associated with it, allowing for a lower cut off grade bringing in more material, increasing the tonnage per day and number of ounces mined.
“Some of these old, narrow vein deposits don't work in the modern era,” Khunkhun told
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Drilling targeted the high-grade plunge within the Homestake Silver deposit. These holes focused ondefining and expanding the wide gold and silver (+/- lead and zinc) mineralized zone.
The reinterpretation concluded that the wider mineralization zone at Homestake Silver is at a similar plunge orientation as that of the Homestake Main deposit, located 300 meters to the northwest.
Theaverage grades are higher, on a precious metal silver equivalent basis, than the average grade of the silver deposits at the Dolly Varden property to the south due to theincreased gold contentat the
Results fromadditional step-out holesto the north of the intercepts reported on
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On
Hecla Mining has a market cap of USD
“Hecla has demonstrated it is a sticky shareholder,” Khunkhun told Bennett, “They're looking to expand their North American silver portfolio.”
“Global industrial demand for silver in 2023 is expected to set a record leading to another big market deficit, according to preliminary projections by the
“Falling silver production in
“The photovoltaic industry is essentially recession-proof due to support from governments around the world. While industrial offtake accounts for roughly half of global silver demand, at its core, silver is a monetary metal. It tends to track with gold over time.”
“The current silver-gold ratio is just over 87-1. That means it takes over 87 ounces of silver to buy an ounce of gold. The average in the modern era has been between 40:1 and 50:1. Historically, the ratio has always returned to that mean. And when it does, it does it with a vengeance,” added
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Source: https://sdbullion.com/gold-silver-ratio
“The latest results from Homestake Silver - including93 meters at 357 grams AgEq per tonne- indicate that the mineralised envelope is wider and higher grade than we had thought,” Van Egmond told Bennett.
“The drill comes in at angle, so the true width is about 50-60 meters,” Egmond continued. “This suggests a deposit that is amenable to bulk underground mining, which would bring the cut-off grade down, add more tonnes, and lower mining costs.”
Contact: guy.bennett@globalstocksnews.com
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