11:48 AM EDT, 08/09/2017 (MT Newswires) -- Dolly Varden Silver (DV.V) on Wednesday climbed 11.8% to $0.57 apiece as it announced results from the second four holes of the 2017 diamond drilling program on its Silver Project in the Golden Triangle of northwestern British Columbia.

In a statement, the company reported that Hole DV17-040 Lower Zone consisted of a core length of 12.55 m, with grading of Ag 514.3 g/t, Pb 0.09 % and Zn 0.04 % for a silver-equivalent of 520.2 g/t. Hole DV17-042 Lower Zone consisted of a core length of 11.70 m, grading Ag 204.3 g/t, Pb 0.11 % and Zn 0.07 % for a silver-equivalent of 212.7 g/t.

It also interpreted the Torbrit Deposit as a northwestward plunging synform. The three holes DV17-040 to 042 are located on the southeastern edge of the Torbrit Deposit and fill a gap in the drilling.

The company plans to drill more than 5,000 metres in about 25 to 35 drill holes for its 2017 exploration program, with two-thirds allocated to resource validation and expansion and one-third for reconnaissance drilling on targets beyond the current resource estimates.

Dolly Varden is also set to complete a geological mapping, as well as geophysical and geochemical surveys, for both the main Dolly Varden Ag-Pb-Zn Project and the adjacent Big Bulk Cu-Au Project.

Price: 0.57, Change: +0.06, Percent Change: +11.76