Equinox Gold shares surge following record-breaking production year
The miner produced 213,906 ounces of gold in the fourth quarter and 621,870 ounces for the full year.
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Vancouver, BC – January 9, 2025 – TheNewswire – Global Stocks News – Sponsored content disseminated on behalf of Dolly Varden Silver. On January 7, 2025 Dolly Varden Silver (TSXV:DV) (OTC:DOLLF) (FSE: DVQ1) announced infill, step-out and resource expansion drilling results from the Wolf Vein.
Dolly Varden Silver is advancing its 100% held Kitsault Valley Project, located in the Golden Triangle of British Columbia, Canada.
“At Wolf, we continue to expand the extent of strong mineralization, veining and alteration as we get closer to the Torbrit Silver Deposit, located 1,000 meters to the south,” stated Shawn Khunkhun, CEO of Dolly Varden Silver.
In 2021, a breakthrough discovery at the Wolf Deposit was catalyzed by the youngest DV Silver geologist, Amanda Bennett, who cut her teeth at Hudbay Minerals and White Gold.
Subsequent Wolf Drill Programs confirmed Bennett’s hunch: in 2021 DV hit 1,532 g/t Ag over 1.22m core length. In 2022 DV hit 584 g/t Ag over 19.85m (13.90m true width). In 2023 DV hit 1,499 g/t over 15.94 meters (8.77 meters estimated true width) including coarse, native silver mineralization returning 23,997 g/t Ag.
The latest results from the 2024 Wolf Drill Program have delivered consistent wide, potentially underground bulk-mineable intervals.
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 the number of ounces mined.
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“Our goal is to see how deep the Wolf Vein goes,” Rob van Egmond, DV’s VP of Exploration told Guy Bennett, the CEO of Global Stocks News (GSN). “We want to know where the vein intercepts the main structure in the center of the valley that runs up to Torbrit.”
“We know that Wolf and Torbrit are part of the same system,” van Egmond continued. “Step-out hole DV24-421 was an attempt to find the intersection point. We haven’t hit it yet, but we’re encouraged to find out the vein is still going strong 120 meters, stepped-out, down plunge with average silver grades significantly higher than those in the current mineral resource.”
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Additionally, the January 7, 2025 press release reported results from follow-up exploration drilling on multiple prospects in the Dolly Varden Project Area, including North Star and Red Point.
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The four drill holes completed at the North Star Deposit were oriented to test the shallow dipping mineralization. The North Star deposit is located approximately 350 meters southwest of the Torbrit Mine.
Within the mineralization intersected in the 2024 drilling, there are silver-rich layers of strong base metal content, such as drill hole DV24-423 which intersected. 432 g/t Ag / 1.39% Pb / 5.28% Zn over 3.04 meters.
“North Star is one of the four deposits that make up our current mineral resource,” van Egmond told GSN. “Although North Star is currently a small component of the resource, we believe it has the potential to grow.”
“North Star is on the same horizon as Torbrit, which has 25 million contained ounces in the indicated category, and 10 million contained ounces in the Inferred category with average grades of 297 g/t Ag and 278 g/t Ag respectively,” continued van Egmond. “As we get further along that horizon, we see the base metal increasing.
That’s not a surprise to us. In the 1980s, a feasibility study was done on a small lead-zinc mine at North Star. The tunnels, and the infrastructure are still there. It’s part of that seven kilometers of underground workings that we have at our disposal.”
Two drill holes were also completed at the Red Point Gold Zone as follow-up to the 2023 drilling which intersected gold-bearing mineralisation similar to the Homestake Ridge gold and silver deposits located 5,500 meters to the northwest.
Previous years of drilling at Red Point encountered wide intersections (>150m) of 0.15 to 025 g/t gold in strong alteration zones, with significant grade gold intervals in areas of more intense stockwork. For instance, drill hole DV24-400 which intersected 21.10 g/t Au over 0.50m, and drill hole DV24-395 intersected 2.99 g/t Au over 3.11 meters.
Insufficient drilling has been done to determine true width, estimates from intersect angles are that the true width is 80-90% of core length.
“It’s clear to us there is significant gold in the Red Point system,” van Egmond told GSN. “We are focusing on areas where we believe the gold is concentrated at economic levels.”
“The drill results reported in the January 7, 2025 press release are positive,” concluded van Egmond. “We hit on a large step-out hole at Wolf. The exploration drilling focused on multiple deposits, returning significant silver, gold and base metal values. These results are supportive of our master plan to join the Wolf and Torbrit/Kitsol zones.”
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Fourteen months ago, Dolly Varden Silver announced that it had closed a deal where Hecla Canada invested $10 million in DV Silver, raising its stake in DV Silver from 10.6% to 15.7%.
Hecla Mining has a market cap of USD $3.32 billion and trades on the New York Stock Exchange (NYSE). Its Q3, 2024 revenues were $245.1 million, 45% from silver and 32% from gold.
“Hecla has demonstrated it is a sticky shareholder,” confirmed Khunkhun. “They're looking to expand their North American silver portfolio.”
In 2025, DV is planning more step-out drilling at Wolf as we attempt to establish an intersection point with the 25-million-indicated-ounce Torbrit deposit, as well as infilling to establish continuity and a height dimension.
The North Star Deposit is a strong candidate for down-dip resource expansion drilling and also defining connecting mineralization to Torbrit.
The style of mineralization and alteration at Red Point suggests a porphyry or intrusive-related mineralization system, which is typical of the Golden Triangle.
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this GSN release.
Disclaimer: Dolly Varden Silver paid GSN $1,750 for the research, creation and dissemination of this content.
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