Silver North Resources (TSXV:SNAG,OTCQB:TARSF) has made significant new silver discoveries in the famous Keno Hill Silver District of the Yukon in Canada. This includes Silver North’s Haldane Project, where high-grade silver has been identified in drilling at two target areas. The company also holds the Tim silver property in southern Yukon, where partner-funded exploration has identified high-grade silver mineralization just 19 kilometers from the Silvertip mine.
Silver North is ideally positioned to further prove out and expand these discoveries, at the stage of the mining development curve traditionally associated with the largest value increases for shareholders.
Silver North’s Haldane Property is located within the Keno Hill mining district, a premier silver-producing region in North America.
Silver North’s Haldane Property is located within the Keno Hill mining district, a premier silver-producing region in North America.
Beyond jewelry and cutleries, silver has a wide range of industrial applications, present in nearly all electronic devices and appliances, and plays an important role in global electrification.
Silver is critical to the green economy due to its diverse applications in the automotive, green energy, technology and medical fields. The average internal combustion engine vehicle contains 15 to 28 grams of silver per vehicle. However, hybrid and battery electric vehicles (EV) use as much as 50 grams of silver per vehicle. As EV adoption grows, predictions are that battery EV demand will increase 50 percent by 2040.
As the world shifts towards renewable energy, the solar energy sector heavily depends on silver to produce photovoltaic cells used in solar panels. These cells convert sunlight into electricity, and silver's exceptional conductivity ensures efficient energy movement. With no end in sight to the growth of solar energy generation, silver use could grow 85 percent in 10 years.
Silver’s electrical conductivity also makes it a metal of choice in the technology industry, where it is used in various electronic devices, including smartphones, tablets and computers.
Infrastructure rollouts, such as 5G wireless technology, result in a steady demand growth for silver - and as these devices become more complex, the amount of silver required increases.
As the demand for electric vehicles, solar panels and advanced technology continues to soar, the need for silver will drive the growth of the silver exploration and mining sector, rewarding explorers and developers like Silver North.
With more and more end-product producers seeking to lock up their supply chains, the potential scope of firms looking to invest in and own silver development projects is also expanding. Silver North’s proven expertise in exploration and discovery will be an even more valuable component of the silver commodity chain in the coming years.
Silver North has a diverse team of experts that builds confidence in the company’s ability to produce shareholder value in the areas of silver exploration and discoveries. Jason Weber, Craig Lindsay and Marc Blythe have direct experience selling discoveries to other mining companies. Weber and Rob Duncan have a combined 60 years of mineral exploration experience, creating a solid foundation of expertise. Mark Brown was the founder of Rare Element Resources (OTCQB:REEMF) that he and his team built into a $500-million company based on a rare earth element discovery. Experts in corporate management and accounting round out the management team.
The 100-percent-owned Haldane Silver Project is an underexplored yet high-grade silver property in a historic silver-mining region in Yukon. The project covers 8,164 hectares that host structurally controlled silver veins. Phase 2 exploratory drilling was recently completed and produced promising results.
The Yukon-based Tim Project consists of 72 mineral claims located 27 kilometers west of Watson Lake and only 19 kilometers northeast of the Silvertip deposit owned by Coeur Mining. Coeur Mining has partnered with Silver North and conducted mapping, soil sampling, trenching and airborne geophysical surveys. The company has received a land-use permit that will pave the way for drilling at the project.
The Yukon-based Tim Project consists of 72 mineral claims located 27 kilometers west of Watson Lake and only 19 kilometers northeast of the Silvertip deposit owned by Coeur Mining. Coeur Mining has partnered with Silver North and conducted mapping, soil sampling, trenching and airborne geophysical surveys. The company has received a land-use permit that will pave the way for drilling at the project.
Under the option agreement, Coeur Mining (NYSE:CDE) can earn 80 percent interest by completing $3.55 million in exploration over five years, making $575,000 cash payments, and completing a feasibility study by the eighth anniversary.
Jason Weber is a geologist with 30 years of experience in the minerals exploration industry. Before Silver North, Weber held the position of president and CEO of Kiska Metals (TSXV:KSK), an exploration company focused on exploring and developing the Whistler gold-copper porphyry project in Alaska. Weber was president and CEO of Rimfire Minerals (TSX:RFM) from 2007 to 2009 when Rimfire merged with Geoinformatics to create Kiska. He initially joined Rimfire in 1999 as Manager of Corporate Communications after working as a consulting project geologist with Equity Engineering in Canada, the USA and Central America. Weber has served as a director and advisor to numerous junior exploration companies.
Rob Duncan has over 30 years of experience in mineral exploration with a wide range of companies, from major producers such as Rio Tinto and Inmet Mining to junior explorers. In addition, he has held senior management positions with junior explorers throughout the North American Cordillera, Canadian Shield and Eastern Europe. Duncan’s work entailed various deposit types, including orogenic gold, porphyry copper (gold), VMS, intrusion-related gold and epithermal gold-silver systems. He also has over 10 years of management experience, specifically with prospect-generator companies. In addition, he has held the position of exploration manager at Rimfire Minerals and VP of exploration and project development at Evrim Resources, now Orogen Royalties (TSXV:OGN,OTCQX:OGNRF).
Marc Blythe has a Master of Business Administration from La Trobe University in Melbourne and a Bachelor of Mining Engineering degree from the Western Australian School of Mines. Blythe served as vice president of mining at Almaden Minerals from 2006 to 2011, also acting as president and CEO of Tarsis Resources, a predecessor of Silver North. He was also the vice president of corporate development at Nevsun Resources (NYSE:NSU). Before that, Blythe held the position of corporate senior mining engineer for Placer Dome, a Vancouver-based company, from 2004 until 2006. During this tenure, Blythe completed internal and external mine evaluations, including advising on potential acquisitions and mining technology implementation.
Craig Lindsay has over 25 years of experience in corporate finance, investment banking and business development. His focus has been on mineral resources in the Western United States. He was the founder, president and CEO of Otis Gold until its sale to Excellon Resources (TSX:EXN) in 2020. Lindsay is currently the managing director of Arbutus Grove Capital, a private company offering corporate finance and merchant banking services.
Lindsay was a founder and president of Magnum Uranium until its merger with Energy Fuels (TSX:EFR) in June 2009. He also served as vice president of the Corporate Finance and Investment Banking Group at PricewaterhouseCoopers. Lindsay was also the founder of Malaspina Capital, a junior capital pool company. He was responsible for identifying its merger with Miranda Mining, a Mexico-based gold producer subsequently acquired by Wheaton River Minerals.
Sven Gollan spent 16 years as an investment/private banker in Germany and Austria, during which time he was active in the education and training of securities advisors and investment bankers. From 2011 to 2015, Gollan was an external consultant for the Grabher Family, in Austria. Gollan has been with FruchtExpress Grabher as corporate treasurer since 2015. He is currently with FruchtExpress Norge, the Norwegian branch of FruchtExpress. Mr. Gollan is also the CEO of Teako Minerals (TSXV:TMIN).
Mark Brown obtained his Chartered Accountant designation in 1993 while working with PricewaterhouseCoopers in Vancouver, BC. Brown has led the financial aspects of Silver North Resources since 2007, including financing, regulatory and reporting issues. Before Silver North, Brown was the controller of two operating gold mining companies with operations in Northern Canada and South America. Brown currently sits on the boards of other public companies. He leads a team of ten people in the Vancouver office of Pacific Opportunity Capital, a financial consulting and merchant banking firm that’s active in venture capital markets in North America.
Winnie Wong is the vice president of client services at Pacific Opportunity Capital, Silver North has retained to provide financial management and accounting services. After graduating from Queen’s University, Wong worked with Deloitte & Touche, where she earned her Chartered Accountant designation. She currently acts as the CFO and corporate secretary of certain TSX Venture Exchange companies. She was formerly CFO of Rare Element Resources, a company with a $500 million market cap, as well as Animas Resources and AQM Copper.
(TheNewswire)
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Vancouver, BC, June 28, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce that it has closed the second tranche (the " Second Tranche ") of its non-brokered private placement (the " Offering ") for gross proceeds of $175,880. Further to the Company's news release dated June 21, 2024, the Company has raised aggregate gross proceeds of $738,380 in the Offering.
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Vancouver, BC, June 21, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce that further to its news release dated June 5, 2024, it has closed the first tranche (the " First Tranche ") of its non-brokered private placement (the " Offering ") for gross proceeds of $562,500.
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Three strategic claim groups located in Silvertip-Midway District
One claim group (Veronica) adjacent to Silver North's Tim Property
Vancouver, BC, May 14, 202 4 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) " Silver North " or the " Company ") is pleased to announce that it has completed an option agreement with three prospectors who hold the GDR Project in southern Yukon. The GDR Project consists of three claim groups totalling 150 claims in the Silvertip-Midway District and in the vicinity of Silver North's Tim Silver Property which is under option to Coeur Mining, Inc. ("Coeur"). The GDR Project claims cover geology prospective for Carbonate Replacement Deposits ("CRD") similar to that being explored at Tim and at Coeur's nearby Silvertip Mine Project.
"The GDR acquisition represents a strategic move to acquire additional ground prospective for high grade CRD silver mineralization in this under-explored district," stated Jason Weber, P.Geo., President and CEO of Silver North. "Despite the early-stage nature of these properties, all three have favourable characteristics for CRD mineralization. In particular, the Veronica claim group has a strong, unexplained multielement soil geochemical anomaly just west of our Tim Property. This complements the Tim Property nicely and gives Silver North access to more of the prospective stratigraphy in this district."
Under the terms of the agreement, Silver North will make staged cash payments totalling $102,000 over four years ($6,000 payable on the Closing Date defined as being 5 business days following the TSX Venture Exchange's approval) and staged share payments totalling 1,560,000 common shares over four years (180,000 shares on the Closing Date) to earn a 100% interest in the GDR Project, subject to a Net Smelter Return (NSR) royalty of 2.4% (0.9% of which can be purchased for $2 million).
GDR Silver Project
The three properties comprising the GDR Project (Veronica, MR, and MFW claim groups) are road and trail accessible with excellent potential for high-grade Ag-Zn-Pb CRD mineralization similar to the nearby Silvertip mine project owned by Coeur. The project claims have Ag-Pb-Zn showings and multi-element soil geochemical anomalies underlain by Paleozoic limestone, in a similar geological setting to CRD mineralization at Silvertip.
Veronica is located 11 km by road north of Silvertip and within 2km of Silver North's Tim project. MR and MFW are located a further 10km and 17km north, and north of the Alaska Highway.
At Veronica a multi-element soil anomaly has been defined over an area 450 by 450 m and is open to the east with values that range from 0.3 - 31.1 ppm Ag, 60 - 3100 ppm Pb, and 50 - 612 ppm Zn. This new anomaly has not been trenched, drilled or explained by prospecting and presents a compelling target for exploration follow up. Limestone and quartzite outcrop in the area.
Further south on the Veronica property and along the Yukon border, high Ag, Pb and Zn values in soils are associated with quartz veins cutting Paleozoic shales. Soil values range from 0.1 - 8.67 ppm Ag, 28 - 2780 ppm Pb, 25 - 2500 ppm Zn, and have not been explained.
The nearby Stollery barite prospect has had historic soils sampling and cat trenching and may represent a sedex Zn-Pb-Ag-barite environment.
Click Image To View Full Size
The MFW property covers a discontinuous 1500 m-long Ag-Pb-Zn soil anomaly that remains unexplained. Confirmation sampling within the anomaly conducted in 2016 returned 14 of 61 soil samples with >2.0 ppm Ag, with a high of 17.95 ppm Ag, 348 ppm Pb, 1060 ppm Zn, 143.5 ppm As and 10.65 ppm Sb. The anomalous elements are suggestive of a potential CRD style mineralized source. Nearby outcrops consist of limestone and quartzite.
The MR property covers a number of historic trenches excavated to explore a series of carbonate-hosted, zinc-oxide prospects. The best results include: 20m of 5.05% Zn, 1.97% Pb and 3.4 ppm Ag and 1.5m of 8.8% Pb and 51.4 ppm Ag. A vein structure discovered in 2016 and chip sampled in 2018 returned 1m @ 477 ppm Ag, 9.29% Pb and 0.91% Zn. Soil sampling to the southeast of this structure has defined an anomaly over 300 by 500m of > 2 ppm Ag and up to 7.6 ppm Ag with associated anomalous Pb and Zn concentrations. The anomaly remains unexplored and unexplained.
The Veronica claim group partially lies within the Area of Interest surrounding the Tim Property, and as such, Silver North is obligated to offer the Veronica for inclusion within the Tim Option agreement between Silver North and Coeur. If Coeur agrees to include the Veronica claims, it will reimburse one half of Silver North's acquisition costs.
Other Properties
Silver North has dropped the lease on the Twin Canyon gold property in southwest Colorado and will be transferring its claim holdings to the underlying vendors. Management was unsuccessful in finding a partner to move the project forward and felt that focussing on Silver North's core assets is the most effective use of it capital resources.
About Silver North Resources Ltd.
Silver North's primary assets are its 100% owned Haldane silver project (next to Hecla Mining Inc.'s Keno Hill Mine project) and the Tim silver project (under option to Coeur Mining, Inc.). Silver North also holds gold and base metal projects in Yukon Territory, Colorado and Nevada, and is actively seeking partners for them. Silver North also plans to acquire additional silver properties in favourable jurisdictions.
The Company is listed on the TSX Venture Exchange under the symbol "SNAG", trades on the OTCQB market in the United States under the symbol "TARSF", and under the symbol "I90" on the Frankfurt Stock Exchange.
Mr. Jason Weber, P.Geo., President and CEO of Silver North Resources Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
Twitter:
LinkedIn:
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
Copyright (c) 2024 TheNewswire - All rights reserved.
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Vancouver, BC, April 24, 2024 TheNewswire Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF, Frankfurt: I90, " Silver North " or the " Company ") announces that th e Board of Directors have approved a grant of stock options under the Company's stock option plan to its directors, officers and consultants to purchase up to an aggregate of 1,860,000 common shares. The options are exercisable at a price of $0.15 per share for a period of 5 years, vesting immediately, and are subject to the policies of the TSX Venture Exchange.
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