(via TheNewswire)
Key Highlights:
Three drill rigs mobilising
Initial 25,000 meters diamond drilling planned
Follow up on new discoveries
Focus on Homestake Silver and Wolf Deposits
Low snow packs allow for earlier than usual start in May
“The drill program will be split approximately 50/50 between the Dolly Varden Property and the Homestake Ridge Property,” states DV, “with an overall project split of1/3 to Homestake Silver deposit area,1/3 to Wolf deposit areaand1/3 to project wide exploration targetswith new discovery potential.”
"Our drill results from Homestake Silver were among the highest-grade gold and silver intercepts anywhere in
According to the
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At the Wolf Vein, drilling is planned to delineate the width and extent of the southerly plunge of wider and higher-grade silver mineralization. Step out holes that define the trace of the plunge are spaced so thatany new mineralization can be included in a future resource update. The Company will implement directional drilling technology with the objective of more cost effective and accurate exploration at Wolf, particularly for deep holes.
Figure 2. Previously released result highlights (2022 and 2023) on
Homestake Silver
The program planned for Homestake Silver will start with follow up drilling on the newly discovered gold zone at the northern extent of deposit, where coarse-grained native gold in late-stage quartz-carbonate veins (Figure 3.) returned grades of1,335 g/t Auand781 g/t Agover 0.68 meters within a wider interval of stockwork grading79.49 g/tAu and60 g/t Agover 12.45 meters in drill hole HR23-389.
Figure 3. Visible Gold in quartz carbonate vein from drillhole HR23-389 at 410.00m depth.
The second part of Homestake Silver drilling will be resource expansion and upgrade holes that target the low angle, north dipping plunge of wide and high-grade gold and silver mineralization encountered in 2023 (Figure 4.).
Figure 4. Homestake Ridge Long section looking southwest showing previous results of wide, higher grade plunge and new gold zone at Homestake Silver with 2024 target areas.
Exploration Targets including
The
Other Exploration targets on both the
“Primary silver mines are rare,” Khunkhun told Lutz. “They only represent about 28% of the market. We're located in
“This has led to a lot of notable shareholders,” continued Khunkhun. “Including Hecla,
On
Hecla Mining has a market cap of USD
“Hecla’s increased ownership stake is a benefit to us,” Khunkhun told
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“Value-creation is done through growing your mineral inventory, or growing your production,” Khunkhun told Lutz, “Dolly Varden is trading at about
“Our priority with this early [drilling] start is to continue withstep-outs as well as infill drillingto confirm continuity of thepotentially bulk-mineable mineralization,” stated Khunkhun in the
“Further south, silver mineralization at Wolf remains wide open for expansion and this seasons' introduction ofdirectional drilling technologywill allow for highly accurate placement of drill intercepts.”
The currently gold/silver price ratio is 85.
“For the whole of the 20th century, the average gold-silver ratio was 47:1,” reports Investopedia. “In the 21st century, the ratio has ranged mainly between the levels of 50:1 and 70:1.
With gold trading at USD
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