Bob Moriarty Says This Silver Co. Could Become a New Eskay Creek
March 7, 2023 (Investorideas.com Newswire) Bob Moriarty of 321 Gold recently appeared as a guest on Streetwise Live to speak about the precious metals industry as well as Dolly Varden Silver. Read more to learn why he believes Dolly Varden could be the next Eskay Creek.
This Thursday, February 23, 2023, Bob Moriarty of 321 Gold and 321 Energy sat down with Streetwise Live to talk about mineral exploration, specifically his interest in Dolly Varden Silver Corp. (DV:TSX.V; DOLLF:OTCQX).
Dolly Varden is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project located in the Golden Triangle of British Columbia, Canada, 25 km by road to deep tidewater. You can click here to watch the entire interview with Bob Moriarty.
Recent Drill Results
Most recently, the company announced it had intersected 15.94 meters, averaging 1,499 g/t silver Including 0.35 meters of 23,997 g/t silver at the Wolf Deposit.
Highlights from the Wolf Vein include:
o Wolf Vein Northeast: DV22-329: 1,499 g/t Ag, 1.89 %Pb, 0.46% Zn over 15.94 meters (8.77 meters estimated true width), including the highest grade silver assay reported from the project to date with coarse, native silver mineralization that returned 23,997 g/t Ag, 1.24% Pb, 0.34% Zn over 0.35 meters (0.19m estimated true width).
o Wolf Vein Southwest: DV22-320: 321g/t Ag, 0.84 %Pb, 0.84% Zn over 12.85 meters (6.81 meters estimated true width) including 664 g/t Ag, 1.24% Pb, 3.54% Zn over 1.63 meters (0.86 meters estimated true width).
Highlights from exploration drilling at Kitsol Vein and a new discovery at the Red Point target include:
o Kitsol Vein: DV22-323: 301g/t Ag, 0.23 %Pb, 0.56% Zn over 15.00 meters, (9.60 meters estimated true width) including 434 g/t Ag, 0.41% Pb, 0.69% Zn over 5.90meters (3.78 meters estimated true width).
o Red Point: DV22-321: 8.10 g/t Au, 244 g/t Ag and 5.16% Cu over 1.00 meter.
o Red Point: DV22-322: 17.20 g/t Au and 1.65% Cu over 1.15 meters.
Moriarty’s Investment in Dolly Varden
Bob Moriarty started 321 Gold over 16 years ago with his late wife Barbara and has since made many millionaires in the junior mining sector with his keen advice.
Regarding why Moriarty is impressed with Dolly Varden he said, “all the work they have put in for the last few years is coming to fruition, including picking up Homestake Ridge a year ago.”
He mentioned the impressive assay results Dolly Varden announced above, saying “the assay results are absolutely staggering.”
It’s a company with a very tiny retail float and enormous potential, he added.
When asked what specifically piqued his interest in Dolly Varden, Moriarty said, “I invest because I want to make money, so I look around for companies that have a good story and I know Dolly Varden very well. Its mine has been in production since 1919.”
He continued, “This history of the Dolly Varden mine . . . it is one of the most important silver lines in the British empire.”
Exploration in The Golden Triangle
Moriarty also spoke about the potential for mineral exploration in the golden triangle. He explained that mines are not simply in Canada or the United States, but in South America as well. However, mining has become more difficult to start in Peru and Ecuador.
He mentioned how the Fraser Insitute calls Nevada the number one jurisdiction in the world. Yet, Moriarty does not believe this is true.
I think it’s actually Canada,” he said, “and I think the golden triangle is one of the most important districts in the world. It has been a major producer in gold and silver.”
And when it comes to working in this area “Dolly Varden has done an incredible job. Anyone interested in investing should go to their website and go through the news because the numbers are absolutely mind-bending.”
Dolly Varden Could Be the Next Eskay Creek
Circling back to Dolly Varden, Moriarty touched on the company’s plans for 2023 and 2024. They currently have CA$20 million in the bank and a CA$20 million drill program and 40,000 meters of drilling scheduled across two major projects: Homestake Ridge and Dolly Varden.
“Dolly Varden is a pure silver,” Moriarty said. Most people aren’t aware that 70% of the silver produced in the world has nothing to do with silver but copper. Its a byproduct of copper mining. “The number of pure silver mines in the world is small – only 30% total.”
Moriarty then corrected himself, saying that prior to recent drill results, it would be accurate to say it was primarily a silver project but with new results, it could become another Eskay Creek, like that of Skeena Resources Ltd (SKE:TSX.V).
“Dolly Varden is nibbling at Eskay Creek potential,” Moriarty said.
Moriarty also touched on the silver outlook for 2023. When asked about his view on the market.
He hounded on the importance of silver and gold in the current state of our economy. We’re going to go from a debt-based system to a resource-based system and that is extremely significant for Dolly Varden. [OWNERSHIP_CHART-5439]
“You can either invest in paper assets of the dying empire or real assets,” he said.
When asked what assets Moriarty would suggest investing in, he spoke highly of silver.
“I am not sure there will be any shortage [of silver],” he said, “but certainly, with the bricks indicating they want to go to a resource-based economy that means a gold standard, and in a gold standard the commodity you need the most is not gold its silver”
This November, Haywood Securities analyst Dr. Geordie Mark touched on not only the precious metal but his confidence in the company itself, saying, “We believe that now is the right time for leverage in precious metals through investment in Dolly Varden Silver.” He gave the stock a Buy rating with a target price of CA$1.60.
Technical analyst, Clive Maund concurred in December, with his own Immediate Buy rating.
Research Capital Corp. analyst Stuart McDougal also shared positivity in the stock earlier this month, with a Buy rating and target price of CA$1.35.
Ownership and Share Structure
Strategic investors own 33.21% of the company. Among top investors, Fury Gold Mines Ltd. (FURY-T) is Dolly Varden’s largest shareholder at 23%, according to the company. Hecla Mining Co. (HL:NYSE) owns 10.21%. As for institutional investors, mining financier Eric Sprott owns 10%.
Dolly Varden has a market cap of CA$253 million and 254 million shares outstanding, with 231 million shares free-floating, according to the company. It trades in a 52-week range of CA$1.15 and CA$0.355.
1) Katherine DeGilio wrote this article for Streetwise Reports LLC. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Dolly Varden Silver Corp. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dolly Varden Silver Corp., a company mentioned in this article.
This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. 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. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com