Dolly Varden Silver Corporation announces the results from its geophysical program at the Dolly Varden property in Northwestern BC. The geophysical models further confirm drill targets for the Company’s proposed 2014 drill program and identify several new targets.
The newly compiled geophysical data outlines key horizons at depth and other surface anomalies that are coincident with known mineral showings, geochemical and structural targets already identified on the Dolly Varden property.
The combination of airborne MAG, VTEM, ZTEM radiometric, and geochemical data, along with geological and structural mapping, was used to define priority target zones. These helped define steep linear features, syngenetic faults, lithologic contacts related to basin formation, and key fluid controlling structures. In addition, key rock units, contact zones and alteration zones most likely to be associated with mineralization, were identified.
This compilation has demonstrated that the known deposits, showings, and related alteration zones are all located within a rift setting. The key rock units that infill the rift have also been identified, and these represent viable targets for Eskay Creek style VMS mineralization. Drilling will be conducted within corridors where mineralized occurrences and coincident alteration haloes point to extensive hydrothermal fluid flow. The key target areas for 2014 drilling include syngenetic VMS-style mineralization and associated feeder structures.
The review of all available geophysical models identified six targets that are being recommended for follow-up work. Three of these targets are new and are located near the northern boundary of the Dolly Varden property and three of the identified targets confirm existing targets that are already scheduled for drilling in 2014.
The geophysical data adds information about the geometry and outlines the contacts between two key geologic horizons. In particular, the geophysics tracks the DVT Horizon to the north and under the Red Point area. Prior drilling on the DVT Horizon has intersected high grade silver mineralization that remains open to the north. The geophysics was also successful in outlining the Salmon River Formation that is prospective for Eskay Creek style mineralization. The geophysical results are congruent with, confirm, and add additional information to the targets slated to be drilled in 2014.
Further, the geophysical results indicate several new targets that have the potential for additional Eskay Creek style accumulations. These newly developed targets are located on the underexplored northern section of Dolly Varden’s property. The area is several kilometers to the North from the existing historical workings and abuts neighbouring exploration properties controlled by Homestake Resource Corporation and the Homestake – Agnico Eagle Mines joint venture.
The three targeted corridors are the 1) Torbrit-Red Point Corridor – following known silver mineralization underneath Red Point, an Eskay-Creek style target; 2) Musketeer Corridor – which runs along the east side of the Kitsault river with numerous Ag-rich epithermal vein-type showings with strong potassic radiometric signatures; and 3) Wolf-Surprise Corridor where an Eskay-Creek style host formation containing silver-rich VMS mineralization was identified by the Company’s 2011 drill program.
The geology underlying the Dolly Varden property consists of volcano-sedimentary rocks belonging mostly to the lower and middle Jurassic Hazelton Group. These include intermediate volcanic and volcaniclastic rocks of the Betty Creek Formation and bimodal volcanic and sedimentary rocks of the Salmon River Formation.
The principal silver-base metal deposits of the Kitsault River valley have been interpreted as vein mineralization by early workers. Devlin (1986) reinterpreted the main deposits to be volcanic exhalative in origin. Deposits of this type are formed as sub-aqueous hot-spring type deposits on the seafloor, as products of hydrothermal solutions that have vented from sub-seafloor fracture and fault systems. Furthermore, the silver deposits of the upper Kitsault valley are mapped with important geological similarities to the Eskay Creek deposit, providing an analog for exploration on the Property.