Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB) announced final assay results from its 2025 drilling campaign at the Haldane Silver Property, located 25 kilometers west of Keno City in Yukon. The road-accessible project is situated within the historic Keno Hill Silver District and adjacent to Hecla Mining's producing Keno Hill operation.
The company reported that hole HLD25-36 intersected 9.10 meters, averaging 428.3 grams per tonne (g/t) silver, 0.73 g/t gold, 5.26% lead, and 1.73% zinc, starting at a depth of 182.40 meters. This interval includes a high-grade section of 2.80 meters grading 1,069 g/t silver, 1.41 g/t gold, 12.60% lead, and 3.02% zinc. The mineralization is hosted within the Main Fault structure and consists of siderite, quartz, galena, and sphalerite veins and breccias.
A second hole, HLD25-38, encountered multiple mineralized intervals. A 1.90-meter section within a broader 22.00-meter interval returned 437 g/t silver, 0.35 g/t gold, 14.55% lead, and 4.04% zinc. Seven of eight completed holes successfully intersected the Main Fault, with one hole, HLD25-37, abandoned before core recovery.
"The Main Fault is showing itself to be a strong and complex fault structure capable of hosting high-grade silver, gold, lead, and zinc mineralization," said Jason Weber, P.Geo., President and CEO of Silver North, in a company news release. "We are in the early days of revealing the potential of this target, one of three new discoveries Silver North has made so far on the property."
The 2025 program totaled 1,759.5 meters across eight drill holes and expanded known mineralization along approximately 100 meters of strike length and 150 meters downdip. According to the company, mineralization encountered remains open in multiple directions.
Silver Sector Confronts Tight Supply, Volatility, and Market Realignments
The silver market experienced significant turbulence in early January, marked by supply concerns, shifting investor sentiment, and institutional repositioning. Yahoo Finance reported on January 12 that silver briefly surged above US$84 per ounce, driven by geopolitical uncertainty and renewed demand for safe-haven assets. Robin Brooks of the Brookings Institution referred to the political backdrop surrounding the U.S. Federal Reserve as a "deeply destabilizing event," identifying it as a catalyst for the rally. Analysts also cited central bank gold accumulation and new export controls from China as contributing factors on the supply side.
In a separate analysis published on January 12, Bryan Lutz of DollarCollapse.com highlighted growing signs of physical tightness in North America's retail market. Although he stated that there was no full-blown panic, Lutz noted constrained availability of silver at major outlets like Costco, which had limited online listings for 10-oz PAMP bars and introduced new quantity limits. He interpreted the developments as evidence of real-time pressure on physical inventories.
That same day, commodity strategist Jen Bawden reported that silver ended the trading day at US$79.92 per ounce following a sharp rebound. She drew attention to the widening gap between physical and paper markets, with premiums in Shanghai reaching US$8 per ounce while futures in New York hovered near US$70. Bawden labeled the disparity the "Great Divorce of 2026."
Bawden also referenced a January 5 note from JPMorgan Global Research, which warned that silver's recent strength could face near-term resistance due to mean reversion. Greg Shearer, Head of Precious Metals at JPMorgan, added that algorithmic models and index realignments were expected to introduce temporary headwinds.
A similar theme emerged in a January 8 note from Citigroup, where analysts projected that approximately US$6.8 billion in silver futures would be sold as part of the annual Bloomberg Commodity Index rebalancing. Citi described the figure as "unprecedented" and forecast an average silver price of US$70 for 2026, viewing it as a potential new support level.
Forecasts for 2025 varied widely among institutions. BMO Capital Markets issued the lowest projection with an average price of US$26.50, while Goldman Sachs initially predicted US$35 before adjusting its outlook upward as prices outperformed expectations. Both banks cited index-related trading as a key influence on their revised 2026 guidance.
Analysts Highlight Strong Drill Results and Re-Rating Potential for Silver North
On November 18, Bob Moriarty of 321 Gold described early results from Silver North Resources Ltd.'s 2025 drill program as "outstanding." He referenced a standout intercept of 13.15 meters grading 818 grams per tonne silver, 1.39 grams per tonne gold, 2.54% lead, and 0.98% zinc, calling it a key outcome from the program's first three holes.
Further analysis was provided on December 9, when Michael Ballanger noted that Silver North had delivered "more positive drill results" from its Haldane Project. He highlighted an intercept of 231 grams per tonne silver over 14.40 meters, which included a higher-grade subinterval of 1.25 meters at 1,261 grams per tonne silver. According to Ballanger, the results extended mineralization at the Main Fault zone by an additional 50 meters along strike, bringing the total known extent to 100 meters on strike and 150 meters downdip.
On January 7, 2026, Ballanger reiterated his positive outlook, describing Silver North as "a perfect place to invest" within the silver sector. He emphasized the company's strategic position near the historic Keno Hill Silver District, along with the strength of its management team. Citing the same high-grade November results, he stated, "Elevated gold values really got my attention, as well as the rest of the market." He assigned an initial target price of CA$1.00 per share and indicated plans to reassess upon reaching that level.
1 The following day, January 8, John Newell of John Newell & Associates pointed to broader market dynamics as further support for Silver North's positioning. According to Newell, "Silver has now achieved every major upside objective that was identified along the way," and companies like Silver North were emerging from extended consolidation with improving technical setups. He pointed to meaningful insider ownership, a tight share structure, and the company's location in a proven mining jurisdiction as factors contributing to its re-rating potential. Newell described Silver North as a discovery-driven junior explorer with credible upside in an established high-grade silver district.
On January 14, 2026, Rick Mills of Ahead of the Herd highlighted Silver North Resources Ltd.'s progress at the Haldane Project, located in the Keno Hill Silver District of Yukon. Mills reported that the 2025 drill campaign successfully tested the Main Fault structure over 150 meters of strike and 150 meters down dip, confirming Silver North's geological model. He noted that HLD25-31 returned one of the best results on the property to date, intersecting 13.15 meters averaging 818 g/t silver and 1.39 g/t gold, including a subinterval of 3.2 meters at 2,014 g/t silver and 1.72 g/t gold. He also pointed to the consistently high silver content across results as indicative of a true silver-dominant system, with over 80% of metal value derived from silver.
According to Mills, the Main Fault discovery stood out not only for its grade but for its size and continuity, with potential for 300 meters of strike length and comparable down-dip extension. He added that the 2025 campaign achieved a near-perfect success rate, with every hole except one encountering mineralization. Mills concluded that Silver North's work at Haldane demonstrated the potential to outline a deposit in line with the Keno Hill District average of 30 million ounces, and emphasized that upcoming 2026 drilling should offer further insight into the overall scale of the system.
Revealing the Fault: Unlocking a Discovery in Motion
Silver North's Haldane Silver Property continues to develop as a promising exploration story in Canada's premier silver district. According to the company's September 2025 investor presentation, the Haldane project hosts four vein targets (Main Fault, West Fault, Middlecoff, and Bighorn), all open for expansion. The recent program focused on the Main Fault, which the company describes as its "most recent discovery" with substantial silver mineralization confirmed over a significant strike length.
The company is funded for its 2026 program and intends to begin with an airborne geophysical survey in the first half of the year. That survey is expected to guide additional targeting ahead of drilling. With infrastructure in place and proximity to producing operations, Silver North continues to position itself within an active silver-producing region.
Streetwise Ownership Overview*
Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB)
In addition to Haldane, the company holds an interest in the Tim Silver Project, located 19 kilometers from Coeur Mining's Silvertip Mine. Work at Tim has confirmed the presence of a carbonate replacement deposit (CRD) system, further diversifying the company's exploration portfolio.
Ownership and Share Structure2
Management and strategic Investors own 14.6%, and the rest is retail.
The company has a market cap of approximately CA$23.19 million and a 52-week share price range of CA$0.08to CA$0.57 per share.
Silver North's continued focus on the Main Fault and surrounding targets aligns with its stated objective of advancing high-grade discoveries in established silver districts. The 2025 results underscore the mineral potential of Haldane and reinforce the company's strategy of developing projects alongside major silver producers.
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Important Disclosures:
- Silver North Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Silver North.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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1. Disclosure for the quote from the John Newell article published on January 8, 2026
- For the quoted article (published on January 8, 2026), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
- Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.
John Newell Disclaimer
As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.
2. Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
