Dolly Varden Silver (TSX-V: DV)(OTC: DOLLF) CEO Shawn Khunkhun on Aggressive Discovery Drilling in 2024


Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of one of the best pure silver plays with some interesting gold credits, by the way, and maybe an emerging discovery, in the entire space, Dolly Varden Silver, Mr. Shawn Khunkhun.

Shawn, it's great to have you back on. It's been about a month or so, and what a difference a month makes. We have record gold prices, record copper prices and silver breaking out. How is the market looking to you?

Shawn Khunkhun: Gerardo, thank you for having me on. It's interesting. Looking at Dolly Varden, we have attempted to break through $1.20 a share, four times over the last eight years. And if you take a look at the price of silver, silver has also made four attempts to go through $30 in about the last four years. And both silver and Dolly have broken above that resistance. So it's an exciting time, and I think for both the price of silver and for Dolly, once you break that top, there's nothing but upside.

And the nice differentiator between Dolly and the price of silver is even without silver appreciating, what we've proven to you, Gerardo, and to your audience and to our shareholders, is we can grow this business even in a flat precious metals tape, even in a down precious metals tape. But if we can continue with the discovery success and keep building this company in the back with some tailwinds, it's an exciting time. So I'm pretty pumped. I've been doing this for 20 years and this is one of the best setups I've ever seen.

Gerardo Del Real: Well, listen, I told you off-air, I am excited to see you cook in a bull market because I've seen what you can do in a bear market, and I think the next couple of years it's going to be a run for the books. You just commenced your 2024 drilling program. It's a very specific discovery focused program. 25,000 meters or so is my understanding of it. Can you outline the goals for this year's program?

Check out our latest free research reports for in depth analysis on specific market trends. View Reports

Shawn Khunkhun: Yeah, so look, it's a theme that I've introduced, which is in the Golden Triangle where you've got a lot of gold. You've got 155 million ounces of gold. You've got a billion ounces of silver. What starts as a silver mine leads into some big gold systems. And so we want to build on our silver success at the Wolf deposit.

So a third of the program is focused on adding pure high grade silver, delineating a resource, expanding that deposit to the Southwest, to the Northeast, so it's a pure silver. And then as we move north, we've got this new exciting gold discovery. So a third of the program at Wolf, a third of the program up at Homestake, to follow up on the 12 meters of 80 grams of gold on the 93 meters of 357 grams of silver.

But the last basket, Gerardo, the last third of the basket, which is the discovery focus, and this is where we just announced today, we've got three rigs turning, we have identified a plunge, the tip of the plunge of the mineralization at the Chance deposit, at Moose, at North Star. And we've got a rig on each of those exploration targets. If we can put together the type of success we've had at Wolf on those three silver targets, we're going to be adding a lot of high grade silver inventory to an already large high grade deposit. And so we're starting with exploration, and then on June 1st, we'll move all three rigs to Wolf, and then we'll move those rigs up the valley to Homestake. So we've got 25,000 meters, the program has started, and we should be in a position to be reporting results very soon.

Gerardo Del Real: Well, I'm looking forward to those results. I'm looking forward to having you back on. Thank you so much for that update, Shawn.

Shawn Khunkhun: Thanks so much, Gerardo.

Gerardo Del Real: All right, chat soon.

Click here to see more from Dolly Varden Silver