Latest news with #DollyVarden
Globe and Mail
5 days ago
- Business
- Globe and Mail
Silver Stocks Land Acquisitions to Meet Supply Demands
"Silver Stocks Land Acquisitions to Meet Supply Demands" a global investor news source covering gold and silver stocks presents a mining snapshot highlighting news from silver miners, from expanded land packages to acquisitions, featuring Apollo Silver Corp. (TSX.V: APGO) (OTCQB: APGOF) (Frankfurt: 6ZF0). May 29, 2025 - a global investor news source covering gold and silver stocks presents a mining snapshot highlighting news from silver miners, from expanded land packages to acquisitions, featuring Apollo Silver Corp. (TSX.V: APGO) (OTCQB: APGOF) (Frankfurt: 6ZF0). The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California, and its option on the Cinco de Mayo Project, in Chihuahua, Mexico. With strong demand and a supply deficit since 2021, silver miners are actively acquiring land and developing projects to increase production and address the shortfall. Stocks mentioned in this article: Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS), Dolly Varden Silver Corporation (TSXV: DV) (NYSE American: DVS), First Majestic Silver Corp. (NYSE:AG) (TSX:AG). In line with the sector's growth strategy, Apollo Silver Corp. (TSX.V: APGO) (OTCQB: APGOF) (Frankfurt: 6ZF0) recently announce it has acquired 2,215 hectares of highly prospective claims contiguous to its Waterloo property at its Calico Silver Project. From the news: The newly acquired claims, referred to as the Mule claims, comprise 415 lode mining claims and were acquired from LAC Exploration LLC, a wholly-owned subsidiary of Lithium Americas Corp. (TSX: LAC) (NYSE: LAC), which was the previous operator of the property. Preliminary mapping and sampling conducted by the previous operator of the Mule claims identified several high-grade silver targets, which will be evaluated as part of Apollo's future exploration planning. Additionally, a mapping and sampling program was recently completed at the Burcham gold prospect area in the southwest region of the Waterloo property (see news release dated February 12, 2025). This program confirmed the Calico fault system's role in controlling silver (Ag) and gold (Au) mineralization in the area and identified potential for copper (Cu), zinc (Zn), and lead (Pb) mineralization associated with stratabound and manto lenses. Highlights: Mule claims expand the Calico Project land package by over 285%, from 1,194 hectares to 3,409 hectares of contiguous claims. Mule claims trend along the mineralized Calico Fault System responsible for mineralization seen at Calico. Reports from the prior operator indicate that there are several strongly anomalous silver values on the property, which Apollo will attempt to ground-truth in the coming exploration programs. Sampling done across the Mule claims by previous operator has identified a large Ag anomaly associated with the same suite of host rocks at the Waterloo property. Exploration at the Burcham prospect at Waterloo included assays from 27 surface samples: Assay peaks up to 14.10 g/t Au, 20.70 g/t Ag, 0.17% Cu, 22.80% Zn and 5.74 % Pb from various samples. Identification of strata-bound lenses and mantos that show strong potential for Cu, Zn and Pb mineralization. Ross McElroy, President and CEO of Apollo commented, 'The addition of the Mule claims substantially enhances the Calico Project. Calico already hosts three discrete drill-delineated zones with resource estimates along a 4-km-long trend within the Calico fault zone. The Mule claims increase the project's land area by 2.5 times, strategically located to the east along this highly prospective mineralized corridor, offering significant potential for further discoveries. Apollo is committed to unlocking value in California for our shareholders.' The Mule claims, comprising 415 lode mining claims administered by the Bureau of Land Management, feature a continuation of the mineralized Calico Fault System, as identified through mapping and sampling by the previous operator. The sedimentary rocks of the Barstow Formation, which hosts the Waterloo silver deposit and the volcanic Pickhandle Formation are prevalent across the acquired claims. The contact between the Barstow and Pickhandle Formations has demonstrated potential for gold mineralization, similar to that at Waterloo. Sampling across the Mule claims has identified several strong Ag and Au anomalies. Apollo plans to conduct a follow-up exploration program to develop exploration targets and delineate this highly prospective contact. Earlier this month, Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) and MAG Silver Corp.(NYSEAM: MAG) (TSX: MAG) announced a definitive agreement for Pan American to acquire all issued and outstanding common shares of MAG through a plan of arrangement. MAG, a tier-one primary silver mining company, holds a 44% joint venture interest in the large-scale, high-grade Juanicipio mine, operated by Fresnillo plc, which holds the remaining 56% interest in the joint venture. More from the news: Under the terms of the transaction, MAG shareholders will receive total consideration of approximately $2.1 billion, equivalent to $20.54 per MAG share, based on the closing price of Pan American's common shares on the New York Stock Exchange (NYSE) on May 9, 2025. The consideration comprises $500 million in cash and 0.755 Pan American shares per MAG share, subject to proration. This represents premiums of approximately 21% and 27% to the closing price and 20-day volume-weighted average price (VWAP) of MAG's common shares on the NYSE American (NYSEAM) as of May 9, 2025. Upon completion, existing MAG shareholders will own approximately 14% of Pan American's shares on a fully diluted basis, benefiting from participation in a larger, diversified, and growth-oriented silver and gold producer. Michael Steinmann, President and CEO of Pan American commented: 'Our acquisition of MAG brings into Pan American's portfolio one of the best silver mines in the world. Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American's exposure to high margin silver ounces. Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG's Deer Trail and Larder properties. This strategic acquisition further solidifies Pan American as a leading Americas-focused silver producer. We would like to thank the Fresnillo and the Juanicipio management teams for the constructive interactions and impressive site visit. Together, we bring many decades of operator experience in Mexico and Latin America to the Joint Venture and we are looking forward to a collaborative future and value generation for all shareholders involved.' George Paspalas, President and CEO of MAG commented, 'This transaction represents a compelling opportunity for our shareholders, providing an immediate premium and meaningful exposure to Pan American's world-class assets and proven growth strategy. We are proud of what we've accomplished at MAG, particularly our partnership with Fresnillo which has created extraordinary value at the exceptional Juanicipio mine. Through the acquisition of our interest by Pan American – a respected leader in the global precious metals industry – our shareholders will participate in an exciting future defined by operational excellence, substantial exploration potential, and strong financial stewardship with significant portfolio exposure.' Dolly Varden Silver Corporation (TSXV: DV) (NYSE American: DVS) (FSE: DVQ) recently announced that, following its news release dated May 5, 2025, it has completed the acquisition of the Kinskuch Property in northwest British Columbia's Golden Triangle. From the news: The Kinskuch Property is adjacent to the Company's Kitsault Valley Project and dramatically increases the Kitsault Valley Project size to approximately 77,000 hectares, covering some of the most underexplored and prospective rocks for silver, gold and copper mineralization in the Golden Triangle. Dolly Varden completed its acquisition of the Kinskuch Property from Hecla Mining Company for consideration of $5 million, which was satisfied by Dolly Varden issuing 1,351,963 common shares of the Company to Hecla. Hecla will also retain a 2% net smelter return royalty on the Kinskuch Property area (the "NSR"). The NSR will include a 50% buyback right, for $5 million, that will allow Dolly Varden to reduce the royalty to 1% at any time. As per an existing agreement between Dolly Varden and Hecla, Hecla will maintain a designated position on Dolly Varden's Technical Committee, working together to unlock the potential of the underexplored areas. The year began with a significant development for the sector when, in January, First Majestic Silver Corp. (NYSE:AG) (TSX:AG) (FSE:FMV) and Gatos Silver, Inc. announced the completion of First Majestic's acquisition of Gatos Silver under the agreement and plan of merger, as detailed in their joint news release dated September 5, 2024. More from the news: On Tuesday, January 14, 2025, both First Majestic and Gatos Silver announced that they received all necessary shareholder approvals at the respective special meetings of each company's shareholders. Approximately 98.44% of the votes cast at the special meeting of First Majestic's shareholders were voted in favour and approximately 99.23% of the votes cast at the special meeting of Gatos Silver's stockholders were voted in favour. Under the terms of the Merger Agreement, First Majestic has acquired all of the issued and outstanding shares of common stock of Gatos Silver and Gatos Silver is now a wholly-owned subsidiary of First Majestic. Stockholders of Gatos Silver will receive 2.55 First Majestic common shares for each Gatos Silver Share held, and cash in lieu of fractional First Majestic Shares . 'With the closing of this transaction, First Majestic is integrating a high-quality, long-life, positive-free-cash-flow operation into our portfolio of producing mines in Mexico. Cerro Los Gatos is truly a world-class district with robust production and cost efficiency, combined with significant exploration potential,' said Keith Neumeyer, President and CEO. 'Over the coming quarters, we will communicate our plans for Cerro Los Gatos, including strategies to realize synergies and integration throughout the business. I take this opportunity to personally welcome Gatos Silver shareholders into First Majestic as we create the industry's leading intermediate primary silver producer. Finally, I welcome our joint venture partner, Dowa Metals and Mining, with whom we look forward to working closely at Cerro Los Gatos as a supportive and trusted partner.' These acquisitions underscore the growing trend of land asset expansion and consolidation among silver miners. About - Big Investing Ideas Investorideas is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Disclaimer/Disclosure: This article featuring Apollo Silver Corp is paid for content as part of a monthly featured mining stock service. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. Investor ideas does not provide investment opinion but may quote industry experts and their opinions. More disclaimer info: Global investors must adhere to regulations of each country. Please read privacy policy on our site. Follow us on X @investorideas Contact Investorideas 800-665-0411 Media Contact Company Name: Investor ideas Contact Person: Dawn Van Zant Email: Send Email Phone: 800 665 0411 Address: 5134 Cliff Drive City: Delta State: BC Country: Canada Website:
Yahoo
26-05-2025
- Business
- Yahoo
Dolly Varden Announces Closing of the Acquisition of Hecla's Kinskuch Property
Vancouver, British Columbia--(Newsfile Corp. - May 26, 2025) - Dolly Varden Silver Corporation (TSXV: DV) (NYSE American: DVS) (FSE: DVQ) (the "Company" or "Dolly Varden") is pleased to announce that, further to its news release dated May 5, 2025, it has completed the acquisition of the Kinskuch Property in northwest BC's Golden Triangle (the "Transaction"). The Kinskuch Property is adjacent to the Company's Kitsault Valley Project and dramatically increases the Kitsault Valley Project size to approximately 77,000 hectares, covering some of the most underexplored and prospective rocks for silver, gold and copper mineralization in the Golden Triangle. Dolly Varden completed its acquisition of the Kinskuch Property from Hecla Mining Company ("Hecla") for consideration of $5 million, which was satisfied by Dolly Varden issuing 1,351,963 common shares of the Company ("Common Shares") to Hecla. Hecla will also retain a 2% net smelter return royalty on the Kinskuch Property area (the "NSR"). The NSR will include a 50% buyback right, for $5 million, that will allow Dolly Varden to reduce the royalty to 1% at any time. As per an existing agreement between Dolly Varden and Hecla, Hecla will maintain a designated position on Dolly Varden's Technical Committee, working together to unlock the potential of the underexplored areas. About the Kinskuch Property The Kinskuch Property is contiguous on the east and south of Dolly Varden's Kitsault Valley Project, and through the acquisition Dolly Varden will increase the mineral tenure holdings and triple the total strike length of favorable Jurassic age Hazelton-group volcanic rocks and associated "Red Line" by adding the Illiance trend to the Kitsault Valley trend. Both the Kitsault Valley and the Illiance trends are interpreted to be part of a district scale, sub-basin of the Eskay Rift period. The Illiance trend has seen little modern exploration work, limited to localized diamond drilling by Hecla on the three kilometer long, north-south trending Illy epithermal system. Also included within the acquisition area is the past producing Esperanza Mine (1910), interpreted as quartz-carbonate veins with similar silver grades to the historic Dolly Varden Mine (1920) hosted in Upper Hazelton sedimentary rocks. The Esperanza Mine is located along the Kitsault Valley access road, two kilometers north of Dolly Varden's camp in Alice Arm, BC. The southwestern portion of the acquired claims covers Hazelton Group rocks that trend to within seven kilometers of Goliath Resources Limited's recently discovered Surebet Zone gold mineralization. The area within the Kinskuch Property that trends south of Big Bulk has the potential to host additional gold-copper porphyry systems along the south trend towards the Kitsault molybdenum porphyry deposit, which is being actively advanced by New Moly LLC. Figure 1: The location of the Kinskuch Property is shown in blue, the location of the Porter Property is shown in green (the acquisition of which was announced in a news release dated May 23, 2025), and the location of the MTB Metals Corp. properties are show in orange (the proposed acquisition of which was announced in a news release dated May 15, 2025 and which is not yet complete). To view an enhanced version of this graphic, please visit: Further Information Hecla is considered a "related party" of the Company pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") on account of Hecla owning 10,606,374 Common Shares of Dolly Varden, representing approximately 13.3% of the outstanding Common Shares. As such, the Transaction is considered a "related party transaction" pursuant to MI 61-101. The Transaction is exempt from the formal valuation requirements and minority shareholder approval requirements of MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)(a), respectively, as the value of the Common Shares issuable pursuant to the Transaction will not exceed 25% of the Company's market capitalization. The Transaction was negotiated by disinterested members of management of Dolly Varden and Hecla. The Transaction was unanimously approved by the disinterested members of the Dolly Varden Board of Directors. The Common Shares issuable to Hecla will be subject to a four-month statutory hold period in accordance with applicable securities laws. No finder's fees or commissions are payable by the Company in connection with the Transaction. The securities described in this release have not been and will not be registered under the United States Securities Act of 1933, as amended, or the laws of any state or other jurisdiction of the United States. These securities may not be offered or sold in the United States absent such registration or an available exemption therefrom. This release does not constitute an offer to purchase or a solicitation of an offer to buy securities in any jurisdiction. Qualified Person Rob van Egmond, Vice-President Exploration for Dolly Varden, the "Qualified Person" as defined by NI 43-101 has reviewed and approved the scientific and technical information contained in this news release. Rob van Egmond, is not independent of the Company in accordance with NI 43-101. About Dolly Varden Silver Corporation Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Property, the Homestake Ridge Property and the Kinskuch Property) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 770 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk Property which is prospective for porphyry and skarn style copper and gold mineralization that trends south onto the Kinskuch Project. This porphyry belt is similar in age and mineralization style to other such deposits in the region (Red Mountain, KSM, Red Chris). Approximately 20 km northwest of the Kitsault Valley Project, Dolly Varden also has the Porter Property which hosts the past producing Porter Idaho silver mine and potential for additional high-grade silver in epithermal veins. Forward-Looking Statements This release may contain forward-looking statements or forward-looking information under applicable securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential", "prospective" and similar expressions. Such forward-looking statements included in this news release include the proposed benefits of Kinskuch and Porter Properties to the Company, and the proposed acquisition of the MTB Metals Corp properties. Forward-Looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, including, without limitation, risks associated with the speculative nature of exploration and development of minerals; the anticipates substantial future capital expenditures associated with the exploration and development of its assets and there can be no assurance that debt or equity financing will be available; inherent competition in the mining industry; risks associate with volatility in mineral prices; risks inherent in the estimation of mineral resources; environmental risks associated with the exploration and development of mineral properties; the Company is reliant on key personnel; risks associated with working in remote regions; risks associated with maintaining positive community relations; and the other risks disclosed in the Company's annual information form ("AIF") dated April 30, 2025 for the year ended December 31, 2024, which is available on SEDAR+ at and in the Company's Form 40-F registration statement as filed with the U.S. Securities and Exchange Commission, which is available on EDGAR at The risk factors identified in the Company's public filings are not intended to represent a complete list of factors that could affect the Company. Forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of the Company to satisfy the requirements of listing and registration, and to successfully pursue its current development plans, that future sources of funding will be available to the Company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release. For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, To view the source version of this press release, please visit
Yahoo
23-05-2025
- Business
- Yahoo
StrikePoint Completes Sale of Porter Idaho Project to Dolly Varden Silver
Vancouver, British Columbia--(Newsfile Corp. - May 23, 2025) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce that further to its news release dated May 8, 2025, it has completed the sale of the Porter Idaho Project to Dolly Varden Silver Corporation ("Dolly Varden"). StrikePoint completed the sale of the Porter Idaho Project to Dolly Varden for consideration of $1,100,000, which was satisfied through the issuance of 295,699 common shares in the capital of Dolly Varden at a deemed price of $3.72 per share. Michael G. Allen, President and CEO of StrikePoint said, "The sale of this non-core asset to Dolly Varden allows us to focus on our gold projects in Nevada's Walker Lane. We recently completed a successful spring drill program on the Hercules Gold project with all holes returning significant gold grades. Near surface oxide gold deposits in Tier 1 jurisdictions are increasingly rare, but recent exploration successes in the Walker Lane have highlighted the potential of this part of Nevada." For further information on recent drilling on the Hercules Gold Project, please refer to the Company's May 5, 2025 new release. About StrikePoint Headed by CEO Michael G. Allen, StrikePoint is a multi-asset gold exploration company focused on building precious metals resources in the Western United States and in Canada. Mr. Allen has been working in the Walker Lane for the last 15 years, with multiple transactions completed in that timeframe including the acquisition of the Sterling Gold Project, located near Beatty, Nevada, and the sale of Northern Empire to Coeur Mining for approximately $120 million. The Sterling Gold Project is now part of AnglogGold Ashanti's "Expanded Silicon" project. In addition, Mr. Allen was the past President and CEO of Elevation Gold Mining Corporation, which operated Arizona's largest gold mine. The Management and Board of StrikePoint has strong expertise in exploration, finance and engineering. StrikePoint is rapidly becoming one of its largest holders of mineral claims with approximately 145 square kilometers of prospective geology under claim, encompassing two district scale projects, the Hercules Gold Project and the Cuprite Gold Project. ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC. "Michael G. Allen" Michael G. AllenPresident, Chief Executive Officer & Director For more information, please contact: StrikePoint Gold HendersonT: (604) 551-2360E: kh@ Cautionary Statement on Forward-Looking Information Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "speculates", "could" or "would". All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
Yahoo
15-05-2025
- Business
- Yahoo
MTB Metals to Focus on its Telegraph Copper-Gold Porphyry and Sell Certain Non-Core Assets
MTB to sell interests in four non-core exploration projects, preserving upside by retaining royalty interests. Strengthened balance sheet will help advance its Telegraph copper-gold porphyry project. Focus will be on advancing the multiple porphyry copper-gold targets identified at Telegraph. Several majors are showing interest in this project, located in British Columbia's prolific Golden Triangle. Vancouver, British Columbia--(Newsfile Corp. - May 15, 2025) - MTB Metals Corp. (TSXV: MTB) (OTCQB: MBYMF) (FSE: E8H) ("MTB" or the "Company") is pleased to announce that it has agreed to sell its interests in four of its exploration properties, the American Creek Property (consisting of Mountain Boy Property, Silver Crown Property, and Dorothy Property), Theia Property, BA Property and Red Cliff Property. Following the sale, the Company will focus on its main project - the Telegraph porphyry copper-gold project, located in British Columbia's prolific Golden Triangle. The four exploration properties are being acquired by Dolly Varden Silver Corporation ("Dolly Varden") in return for shares of Dolly Varden and a royalty across certain sale properties. One of the properties is located immediately adjacent to Dolly Varden's namesake property and the other properties are located nearby, in the Stewart region. Dolly Varden will assume and step into MTB's obligations under MTB's option agreement to acquire the Dorothy Property (the "Dorothy Option") and MTB's joint venture agreement with respect to the Red Cliff Property Lawrence Roulston, CEO of MTB Metals, stated: "We are delighted to become shareholders of Dolly Varden as it advances its large high-grade silver-gold project. MTB's Theia project, located immediately adjacent to Dolly Varden's Kitsault Valley project, will complement the Kitsault Valley project. In addition, Dolly Varden is well-funded and actively progressing exploration of these projects. The retained royalties ensure that MTB shareholders will benefit from exploration success on any of the properties. This transaction will provide MTB with a solid balance sheet and enable us to focus solidly on our Telegraph porphyry copper-gold project." Under the terms of the purchase and sale agreement between MTB and Dolly Varden, MTB will sell to Dolly Varden its interest in four non-core projects: the American Creek Property (consisting of Mountain Boy Property, Silver Crown Property, and Dorothy Property), Theia Property, BA Property and Red Cliff Property. In return, MTB will receive up to 500,000 shares of Dolly Varden (the "Consideration Shares") (valued at $1,825,000 based on Dolly Varden's closing price on May 14, 2025). MTB will also receive a 1% net smelter return (NSR) royalty across all the properties being transferred except Red Cliff and Dorothy. Dolly Varden is arm's length to MTB. No finders fees or commissions are payable by the Company in connection with the transaction. The transaction is subject to normal closing conditions including the approval of the TSX Venture Exchange ("TSXV"). In addition to the customary four month hold on the shares to be received, MTB has agreed that it will provide notice to Dolly Varden if it plans to sell any of the Consideration Shares. MTB will now focus on advancing its Telegraph porphyry copper-gold project (Figures 1 & 2). Earlier drilling has outlined a copper-gold mineralized porphyry system at the Dok zone spanning at least 3.3 km. Other large-scale porphyry targets have been identified on the 350 sq km Telegraph property, including Strata (5 km northeast of Dok) and Yeti (14 km southeast of Yeti). The Telegraph project is located in the same geological setting as four notable deposits in the northern part of the Golden Triangle, including the Red Chris mine, operated by Newmont. Figure 1 - Location of MTB Metal's Telegraph and Southmore Projects and 4 neighboring world class projects including the Red Chris Porphyry Cu-Au mine in northwestern British Columbia. To view an enhanced version of this graphic, please visit: Figure 2: Cross Section through drill hole DK-2023-001 and chargeability. The merged data is from 3 IP programs, conducted in 2012, 2022 and October of 2023 (after completion of the drilling). The data has not been formally leveled by a geophysicist and is for illustrative purposes only. To view an enhanced version of this graphic, please visit: The Telegraph property, with potential for multiple large-scale porphyries, has attracted considerable interest from major mining companies. Geologists from majors have travelled to MTB's cores storage facility at Stewart to examine the drill core, with visits to the Telegraph property planned for this summer. For further details on Telegraph, see the news releases dated: November 6, 2023, December 12, 2023 and January 17, 2024. MTB will also continue to advance the Southmore copper-gold project. Surface samples from Southmore include values of 20% copper and 35 g/t gold. The property hosts potential for a variety of deposit types, including skarn and porphyry. The Company anticipates securing a joint venture partner to fund further work at Southmore. Lawrence Roulston summarized the outlook for MTB: "This transaction will allow us to focus on the Telegraph project, where we see significant potential. The initial holes at the Dok target have confirmed the presence of a mineralized porphyry system spanning 3.3 kilometers which remains wide open. There are at least two other large-scale porphyry targets on the property. This is an extensive, complex, multi-phase system located in the same geological setting as four notable deposits. With a strong balance sheet, and interest from major mining companies, MTB Metals believes it is well-positioned to unlock the value of this extensive copper-gold system." QA/QC The technical disclosure in this release has been read and approved by Andrew Wilkins, a qualified person as defined in National Instrument 43-101. About MTB On closing of the transaction with Dolly Varden, MTB will have working interests in two projects and royalties on 4 projects which collectively span 601 square kilometres (60,100 hectares) in the prolific Golden Triangle of northern British Columbia. Telegraph: MTB controls 344 square kilometres of property located in the vicinity of 4 notable porphyry deposits being advanced by major mining companies: Galore (Teck/Newmont), Schaft (Teck), Saddle (Newmont) and the operating Red Chris copper-gold mine (Newmont). Field work by MTB, together with earlier results, provides compelling evidence for the presence of one or more porphyries, similar to others in the area. Southmore (100%) is in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s and was overlooked until MTB consolidated the property and carried out airborne geophysics and field work which confirmed several zones of gold and copper, with values up to 20% copper and 35 g/t gold. Theia (1% NSR), adjacent to Dolly Varden's main project. Work by MTB and previous explorers has outlined a silver bearing mineralized trend, highlighted by a 2020 grab sample that returned 39 kg per tonne silver (1,100 ounces per ton). Two other zones on the property produced copper values over 5%. American Creek project (1% NSR) is centered on the historic Mountain Boy silver mine. The project is road accessible and 20 km from the deep-water port of Stewart. There are multiple silver, gold and copper occurrences on the property, including a 2006 drill hole that encountered 5 kgs of silver over 5 metres. BA (1% NSR): 182 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway. Several targets with high-grade silver potential remain to be tested. The George Copper zone on the property hosts copper mineralization. Red Cliff (1.35% NSR) is a past producing gold and copper mine. Drill results from 2023 include 2 meters of 26 g/t gold. On behalf of the Board of Directors: Lawrence Roulston President & CEO For further information lawrence@ NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the exploration of the Company's properties and the benefits the Company will derive from the sale of certain non-core exploration projects to Dolly Varden. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the necessary regulatory approvals in respect of the sale of certain non-core exploration projects, that the Company will not continue to focus on its Telegraph porphyry copper-gold project, that the Company's shareholders will not benefit from exploration success on the sold properties, that the Company will not continue to advance its Southmore copper-gold project or that it will be unable to secure a joint venture partner to fund further work at Southmore, and that the Company is not well positioned to unlock the value of the copper-gold system at the Telegraph porphyry copper-gold project. In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals in respect of the sale of certain non-core exploration projects, that the Company's exploration plans will align with management's current expectations, that the Company will derive the benefits from the sale of the properties currently anticipated, and that the Company will secure a joint venture partner to further work at Southmore. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Market Online
05-05-2025
- Business
- The Market Online
Dolly Varden Silver quadruples portfolio in B.C.'s Golden Triangle
Dolly Varden Silver (TSXV:DV) signed a definitive agreement to acquire the Kinskuch property from Hecla Mining (NYSE:HL), quadrupling its presence in British Columbia's Golden Triangle Dolly Varden is a junior miner advancing its Kitsault Valley gold and silver project in British Columbia, which is estimated to contain over 32.9 million ounces of silver equivalent indicated and 11.4 million ounces inferred The Canadian silver stock has given back 5.73 per cent year-over-year but remains up by 217.54 per cent since 2020 Dolly Varden Silver (TSXV:DV) signed a definitive agreement to acquire the Kinskuch property from Hecla Mining (NYSE:HL), quadrupling its presence in British Columbia's Golden Triangle. The acquisition expands Dolly Varden's flagship Kitsault Valley project into numerous underexplored areas prospective for silver, gold and copper mineralization. These include: Claims to the southwest that trend to within 7 km of Goliath Resources' recent Surebet gold discovery. An area south of the Big Bulk project with the potential to host additional gold-copper porphyry systems on trend with the Kitsault molybdenum porphyry deposit being advanced by Newmoly. Consideration of $5 million will be paid through 1,351,963 DV shares, with Hecla retaining a 2 per cent net smelter return royalty, half of which Dolly Varden can buy back for $5 million at any time. According to Monday's news release, Hecla Mining currently owns about 13.3 per cent of Dolly Varden's outstanding common shares and will maintain a position on the junior miner's technical committee to help to unlock value from Kinskuch. Leadership insights 'Consolidating Dolly Varden's Kitsault Valley project with our major shareholder Hecla's large and underexplored claims covering prospective Hazelton Group rocks will allow for more efficient exploration and enable us to unlock value on our path to be a premier precious metals company,' Shawn Khunkhun, president and chief executive officer of Dolly Varden Silver, said in a statement. 'Additionally, we welcome Hecla's increased share ownership in our company.' 'We will be using our structural and lithological framework model developed at the Kitsault Valley trend that has led our team to significant discoveries, such as the Wolf vein, and applying it to exploration of the Illiance trend. Hecla was successful in identifying a subparallel trend of silver-rich mineralization, located to the east of our significant silver and gold deposits,' added Rob van Egmond, Dolly Varden's vice president of exploration. About Dolly Varden Silver Dolly Varden is a junior miner advancing its Kitsault Valley gold and silver project in British Columbia. The project, on trend with the high-grade Eskay Creek and Brucejack deposits, is estimated to contain over 32.9 million ounces of silver equivalent indicated and 11.4 million ounces inferred, representing over US$1.4 billion in the ground. The Canadian silver stock (TSXV:DV) opened with a again of 2.84 per cent trading at C$3.62. The stock has given back 5.73 per cent year-over-year but remains up by 217.54 per cent since 2020. Join the discussion: Find out what everybody's saying about this Canadian silver stock on the Dolly Varden Silver Corp. Bullboard and check out Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
