Dolly Varden shareholders Hecla Canada and Fury Gold Mines will be entitled to acquire Dolly Varden shares at a price of C$0.80 each to maintain their pro rata equity interest in the company.
The Kitsault silver-gold project combines the former Dolly Varden and Torbit mines as well as the Homestake Ridge project in the Golden Triangle of British Columbia. The property is located 25 km by road to tide water. The project also contains the Big Bulk project containing a porphyry and skarn-style copper-gold mineralization.
Resources have been established for both the Dolly Varden and Homestake Ridge projects. The indicated material at Dolly Varden contains 3.4 million tonnes grading 299.9 g/t silver for 32.9 million contained oz., using a cut-off of 150 g/t silver. Homestake Ridge contains 736,000 tonnes grading 74.8 g/t silver for 1.8 million contained oz., using a cut of 2.0 g/t silver equivalent. Together the indicated resource…
