Co. Targets High-Grade Silver in Historic Yukon Keno Hill District

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Silver North Resources Ltd. (SNAG:TSX.V; TARSF: OTCQB) announced plans for its 2025 exploration program at its flagship Haldane Property in the historic Keno Hill Silver District of the Yukon.

The exploration strategy includes a 10-hole diamond drilling program, covering approximately 2,500 meters, aimed at expanding the Keno-style silver lead-zinc mineralization at the recently identified Main Fault target. This area is characterized by a broad zone containing at least three high-grade silver veins.

"This program is an important step for Silver North in its quest to build silver resources in the Keno District," President and Chief Executive Officer Jason Weber told Streetwise Reports. "Management feels that the Main Fault has the potential to be significant silver resource, and the 2025 program is the first step in outlining that potential."

With significant silver findings of 1.83 meters (true width) averaging 1,088 grams per tonne silver (g/t Ag) and 3.90 g/t gold (Au), along with broader zones of silver mineralization such as 5.81 meters (true width) averaging 365 g/t Ag and 0.23 g/t Au, Weber said the Main Fault has become the top priority for the company among its five drilling targets.

One drill hole will explore the continuity of mineralization about 60 meters down dip from the HLD24-30 intersection. The remaining drill holes, which may be adjusted on-site based on logistical needs or visual assessments, will be arranged in fans of three holes on sections approximately 50 and 100 meters southwest and 50 meters northeast of the discovery section to evaluate the strike and depth continuity of the mineralization.

If time and budget allow, an additional drill hole may be executed at the Bighorn target to follow up on silver-bearing quartz-siderite-galena veins discovered in the only previous drill hole there, the company said.

Proceeds to Go to Exploration, Expenses

Earlier this month, the company announced that its non-brokered private placement was fully subscribed. The offering consists of flow-through units (FT units) priced at CA$0.21 each, with the goal of raising up to CA$2.1 million.

Additionally, due to heightened investor interest, Silver North is organizing a separate non-brokered private placement of non-flow-through units (HD units) aiming to raise up to an additional CA$500,000. These HD units are priced at CA$0.15 each and consist of one common share and half of a common share purchase warrant, with each full warrant granting the holder the right to purchase one common share at CA$0.35 for 48 months.

The proceeds will be used for exploration and related activities at Silver North's Haldane and GDR mineral properties in Yukon, the company said. Funds from the HD units are designated for general and administrative expenses and for further development of the project pipeline.

The funds from the FT unit offering will specifically support exploration efforts at the company's Haldane and GDR projects in Yukon, including a prospecting, sampling, and mapping program at the Veronica claim block of the GDR project and a 10-hole, 2,500-meter diamond drilling program at Haldane. This drilling aims to expand the Keno-style silver-lead-zinc mineralization discovered in 2024, seeking to extend the mineralization both along strike and at depth.

The completion of these offerings is subject to receiving all necessary regulatory approvals, including from the TSX-V.

Co. Steadily Gaining Momentum

Silver North Resources Ltd. (SNAG:TSX.V; TARSF: OTCQB) has been steadily gaining momentum over the past year, advancing through strategic drilling, forging new partnerships, and making notable progress on the stock chart, wrote John Newell of John Newell & Associates on July 14. The company has remained committed to its foundational strategies: selecting promising projects, targeting high-grade silver in a well-established district, and maintaining a disciplined exploration budget. Now, it appears that the narrative and the chart are aligning once more.

Newell said when he initially covered Silver North in September 2024, the stock was trading at around CA$0.10. At that time, the company had transitioned from a prospect generator model to a fully-fledged exploration model, focusing all efforts on the Haldane project in the renowned Keno Hill silver district of Yukon. This strategic pivot, spearheaded by Weber, allowed Silver North to drill more aggressively and retain full ownership of any discoveries made.

Fast forward to the present, and the fruits of that strategic shift are becoming evident. Silver North Resources Ltd. has recently formed a compelling reversal pattern on the chart, following a prolonged downtrend. As of mid-July, the stock has successfully breached a key resistance level at CA$0.18, a point I refer to as the Point of Recognition (POR), accompanied by increasing volume and momentum. This breakthrough was not achieved easily; the stock faced three distinct attempts to break out over the past year before it could surpass the descending trendline that had restricted its price since 2022.

This persistence and the decisive move above the POR indicate a change in market sentiment and structure. The stock is now positioned above both the 50-day and 200-day moving averages. Indicators like the MACD have turned positive, and the RSI is rising, yet it remains below overbought territory. More significantly, the pattern of higher lows suggests ongoing accumulation.

With the POR now surpassed, Silver North has a clear technical path forward with three defined upside targets: CA$0.32, marking the upper boundary of previous trading ranges; CA$0.43, a notable resistance level from earlier phases; and CA$0.55, a longer-term retracement level, contingent on sustained bullish momentum.

Expert: Co. 'Consistently' Delivers Outstanding Results

Bob Moriarty of 321gold highlighted Silver North's compelling narrative in a July 16 article, describing the company's flagship Haldane property in the Keno Hill Silver District as garnering "impressive" results.

"Silver North has consistently delivered outstanding results since 2020, including an impressive 818 g/t silver across 1.78 meters within an 8.72-meter section averaging 311 g/t Ag," Moriarty said. "Last year, the company pinpointed a new zone named the Main Fault at the Haldane property, where Hole 24-30 encountered 0.73 meters of 3,422 g/t silver Eq within 1.83 meters of 1,491 g/t silver Eq."

Discoveries at Haldane in 2024 underscore "the potential underestimation of the stock's value," Moriarty followed up on July 30. "With silver expected to be in high demand this year, Silver North is poised to draw considerable market interest."

Rick Mills of Ahead of the Herd also praised the company, noting that Silver North provides investors with access to one of the most significant silver districts globally — Keno Hill — which is receiving substantial investment from Hecla Mining, the largest silver producer in the U.S., following its 2022 acquisition of Alexco Resources.

Mills added, "Silver North’s underexplored Haldane project shows potential for high-grade, extensive veins similar to those mined at Keno Hill."

The Catalyst: All Eyes on Powell

Silver prices dipped on Tuesday, as the metal found it challenging to maintain its recent gains, with bearish momentum intensifying around the $38.51 level, James Hyerczyk wrote for FX Empire on July 30. This downturn occurred just hours before the Federal Reserve's policy announcement, placing precious and industrial metals in a state of anticipation.

Additionally, a decline in industrial sentiment from China is exerting further pressure on the silver market, contributing to a cautious market atmosphere.

All eyes are turning to Federal Reserve Chair Jerome Powell’s remarks at the post-decision press conference. Analysts at Deutsche Bank predict that Powell may not commit to rate cuts but could suggest they remain a possibility. Hyerczyk wrote.

Should Powell adopt a dovish stance, it could be favorable for both gold and silver, although high Treasury yields are currently limiting gains, with the 10-year note yielding 4.328%, the author said. Silver typically mirrors gold during significant monetary policy events, yet its role as an industrial metal adds complexity due to weak demand from China.

Concerns about slow factory output and disappointing PMI figures are dampening market sentiment. Unlike gold, silver does not fully benefit from a safe-haven appeal, making it more vulnerable to economic downturns in Asia.

However, many experts are still optimistic for the precious metal's future. According to an opinion piece published July 15 by Jesse Colombo for Kitco News, "silver's bull market has officially begun."

"Silver has officially broken out in a big way, kicking off its bull market," he wrote. "Multiple confirmations I was watching for have now been fulfilled, and silver still has plenty of fuel left in the tank."

Ownership and Share Structure

According to Refinitiv, eight strategic entities own 17.79% of Silver North Resources. The top shareholders are Pacific Opportunity Capital Ltd. with 6.13% and Fruchtexpress Grabher Gesellschaft mbH & Co. with 5.21%. The board and management hold 16.14%, including Chairman Mark Thomas Brown with 4.28%, according to Silver North.

The rest is in retail. Currently, there are no other institutional investors, yet.

Refinitiv reports Silver North having 61.39 million outstanding shares and 50.47 million free float traded shares. The explorer has a market cap of CA$14.12 million and a 52-week range of CA$0.07–0.25 per share.