Dolly Varden Silver Announces Expansion of High-Grade Gold Zone at Homestake Silver Deposit
November 12, 2025 – Leads & Copy – Dolly Varden Silver (TSX-V:DV) (NYSE MKT:DVS) (FSE:DVQ) reported drill results on November 10, 2025, that expand the high-grade gold zone within the Homestake Silver deposit.
Hole HR25-469, targeting a large open area at the Homestake Silver Deposit, intersected 26.74 g/t Au over 14.75 meters, including 122 g/t Au over 2.85 meters, within a broader mineralized zone grading 12.13 g/t Au over 33.80 meters. Hole HR25-464 intersected 9.22 g/t Au over 6.65 meters, including 58.80 g/t Au over 0.95 meters from a newly recognized stockwork zone.
Dolly Varden Silver President and CEO Shawn Khunkhun stated the high-grade gold mineralization is identical to the idled Premier Gold Mine, owned by Ascot Resources and located 45km to the northwest. The Premier Gold Mine has been on care and maintenance since June 25, 2025. The mill has been refurbished and commissioned at a rate of 2,500 tpd. A new water treatment plant has been built and operating since February 2024, and there is a 128-bed camp.
Khunkhun told Guy Bennett, the CEO of Global Stocks News (GSN) that Rob McLeod, Dolly Varden’s technical advisor, consolidated IDM with Ascot in 2019. He added that multiple members of his team worked for Ascot and that he was retained as a consultant for six months. According to Khunkhun, the Dolly Varden team has intimate knowledge of the Premier project.
Khunkhun stated that Ascot had an engineering plan based on a flawed geological model and spent $538 million in construction and development costs, which he believes is problematic if there is not enough feed for the mill.
Khunkhun stated Ascot was valued at about $400 million five years ago, while Dolly Varden had a market cap of $20 million. As the fortunes of Ascot and Dolly Varden reversed, he was tempted to orchestrate a buyout but felt it was not in the best interests of shareholders to spend the next two years labouring in the capital-intensive part of The Lassonde Curve.
Ascot Resources announced on October 23, 2025, that it has entered into an advisory services agreement with Fiore Management and Advisory Corporation to assist with restructuring, refinancing, and enhancing Ascot’s leadership team. Andrée St-Germain, Chair of the Special Committee of Ascot, spoke about the company’s “challenging financial situation.”
Dolly Varden Silver VP of Exploration Rob van Egmond told GSN that gold is becoming increasingly important to the economics of a potential future Dolly Varden mine in the Kitsault Valley.
Van Egmond stated that the Premier Mill is already built and is idle, which is something they are keeping an eye on. van Egmond added that they have developed a number of high-grade underground systems in the Kitsault Valley that would benefit from a ‘hub and spoke’ production scenario, where multiple deposits feed into one mill.
According to the press release, Dolly Varden drilled a total of 56,131 meters in 86 drill holes in the 2025 season, with approximately 40% of the meters drilled at Homestake Ridge focused on step-outs and local infill along the wider, high-grade gold plunge at Homestake Silver. DV is using directional drilling technology to precisely target areas for step-out and infill holes at Homestake Silver.
van Egmond told GSN that their team is encouraged to intersect 26.74 g/t gold over 14.76 meters at the Homestake Silver Deposit, with gold selling for CDN $5,800/ounce.
Van Egmond concluded that the involvement of the Fiore Group in the restructuring of Ascot Resources pushes the synergy with the Premier Mill into the foreground while reinforcing their objective to consolidate this district of British Columbia.
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101, has reviewed, validated and approved the scientific and technical information contained in this GSN release.
Contact: guy.bennett@globalstocksnews.com
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