The Wolf occurrence is located on the east side of the Kitsault River, 25.5 kilometres north of the town of Alice Arm. Extensive diamond drilling and underground development between 1960 and 1980 by various operators has defined moderate-sized reserves of low grade silver-lead-zinc ore.

The area is underlain by a sequence of volcanics and sediments of the Upper Triassic Stuhini Group and the Lower-Upper Jurassic Hazelton Group. The sequence is folded into the doubly plunging, north-northwest trending Kitsault River syncline. This sequence has been regionally metamorphosed to greenschist facies.

The Wolf prospect comprises three epithermal quartz-carbonate veins numbered 1 to 3 from east to west in an eastward dipping sequence of Hazelton Group andesitic dust tuffs. These rocks have undergone extensive propylitization and are intensely silicified and pyritized in the vicinity of the veins.

The number 1 vein strikes 070 degrees for at least 100 metres, dips steeply northwest and varies in width from 5 to 16 metres. The number 2 and 3 veins strike 020 degrees and dip near vertical. The number 2 vein extends for 250 metres with widths of 2 to 8 metres, while the number 3 vein has been traced for 210 metres.

Steeply dipping faults with dextral displacement parallel the hangingwall and footwall of all three veins. Younger moderately dipping normal faults striking approximately 060 degrees offset the veins with sinistral displacement.

The three veins contain pyrite with minor sphalerite, galena, chalcopyrite and traces of tetrahedrite, pyrargyrite and native silver in a banded to brecciated gangue of quartz and carbonate with local concentrations of barite and jasper.

Combined (proven, probable and possible) reserves at Wolf are 485,270 tonnes grading 335.6 grams per tonne silver, 0.59 per cent lead and 0.12 per cent zinc (Dolly Varden Mining Ltd. Annual Reports 1971, 1973). Refer to Dolly Varden (103P 188) for 2015 resource estimates.

In 2010, Dolly Silver Corporation conducted an exploration program on the Dolly Silver property which consisted predominantly of a detailed stream sediment sampling survey with associated geological mapping, prospecting, rock and soil sampling. A total of 81 rock samples, 19 soil samples and 150 stream sediment samples were collected. A concurrent helicopter-borne time domain electromagnetic (VTEM), magnetic and radiometric survey over both the Dolly Silver and Dolly Varden properties was also completed. Flight line spacing was 200 metres over the Dolly Silver property and 100 metres over the Dolly Varden property with a total of 941.7 line kilometres of data collected.

During 2011 through 2013, programs of diamond drilling, totalling 9404.6 metres, underground rehabilitation and channel sampling, geological mapping and rock sampling were performed on the area as apart of the Dolly Varden property. Diamond drilling yielded intercepts including 595 grams per tonne silver over 15.20 metres in hole WS11-107, 294 grams per tonne silver over 16.53 metres in hole WS11-121 and 660 grams per tonne silver over 3.16 metres in hole WS11-2011 (Higgs, A.A. (2015-05-01): Amended 2015 Technical Report for the Dolly Varden Property).

In 2014, a program of geological mapping, prospecting, geochemical (silt, soil and heavy mineral) sampling, ground and borehole geophysical surveys and diamond drilling, totalling 5280 metres, on the Dolly Varden property. In 2015, a program of geological mapping, prospecting, lithogeochemical rock sampling, soil sampling and ten diamond drill holes, totalling 2037 metres, were completed on the property.

Also at this time a mineral resource estimate for the Wolf deposit was reported at 402,000 tonnes indicated grading 296.6 grams per tonne silver and 9500 tonne inferred grading 230.6 grams per tonne silver, using a 150 grams per tonne silver cut-off grade (Higgs, A.A. (2015-09-30): 2015 Technical Report for the Dolly Varden Property).

In 2016, Dolly Varden Silver Corporation carried out surface mapping and sampling and completed 2311 metres of diamond drilling in 13 holes on the property.

In 2017, Dolly Varden Silver Corporation announced plans for 12,000 metres of diamond drilling at the Dolly Varden silver project. The project consists of the Torbrit (103P 191), Dolly Varden (103P 188), Wolf, and North Star (103P 189) deposits. Drilling between the Torbrit and Wolf deposits resulted in a new discovery (Central zone), with results that included 16.10 metres (13.19 metres true thickness) grading 269.0 grams per tonne silver, 0.30 per cent lead, and 0.21 per cent zinc. Follow-up drilling confirmed this discovery, returning results of 7.15 metres (6.72 metres true thickness) grading 1180.7 grams per tonne silver, 1.83 per cent lead and 0.26 per cent zinc. Drilling also discovered an eastern fault offset of the Torbrit deposit (Torbrit East, 103P 190), with assays including 13.00 metres (9.96 metres true thickness) grading 244.8 grams per tonne silver, 0.14 per cent lead and 0.09 per cent zinc. Within this interval was 5.00 metres (3.83 metres true thickness) grading 481.9 grams per tonne silver, 0.21 per cent lead and 0.12 per cent zinc (Information Circular 2018-1, page 137).

In 2018, Dolly Varden Silver Corp. completed a program of geological mapping, lithogeochemical sampling and 84 diamond drill holes, totalling 29,134.2 metres, on the Dolly Vardern property.

In 2019, an updated mineral resource estimate for the Wolf deposit was reported at 402,000 tonnes indicated grading 296.6 grams per tonne silver and 9500 tonnes inferred grading 230.6 grams per tonne silver, using a 150 grams per tonne silver cut-off grade (Turner, A.J. (2019-05-08): Technical Report and Mineral Resource Update for the Dolly Varden Property).