Dolly Varden Silver Raises $30M, Hits High-Grade Gold at Homestake Silver Deposit
Dolly Varden Silver has announced a significant $30 million bought-deal financing and reported promising gold intercepts from its Homestake Silver deposit. The company's exploration efforts are showing promising results, with a high-grade gold lens overlapping silver mineralization.
The financing, featuring 2,300,000 shares at $6.50/share, 750,000 flow-through shares at $9.42/share, and 990,000 flow-through shares at $8.10/share, will support the company's ongoing exploration and development activities. CEO Shawn Khunkhun expressed confidence in the deposit's growth, stating that the gold results confirm its expansion beyond the current mineral resource estimate.
The recent drill hole, HR25-456, intersected impressive gold grades, including 3.34 g/t Au over 120 meters, with higher-grade intervals of 216 g/t Au over 0.52 meters and 166 g/t Au over 1.3 meters. This hole was a 45-meter step-out along strike from hole HR24-433 and 30 meters up dip from hole HR24-451, demonstrating the deposit's potential for further growth. VP of Exploration Rob van Egmond highlighted the potential for a separate high-grade gold lens overlapping with silver mineralization, which could be a key driver for future project development.
With five diamond drills nearing completion of the 2025 drill program, focusing on the Kitsault Valley and Big Bulk Projects, Dolly Varden Silver is well-positioned to continue advancing its projects. The company's metal inventory value is now approximately a 50/50 split between silver and gold, reflecting the growing importance of its gold resources. This sponsored content was disseminated on behalf of Dolly Varden Silver on October 1, 2025.
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