An exploration company focused on uncovering high grade silver in Canada's North
The following is a transcription of the above video, and The Market Online has edited it for clarity
Lyndsay: Now, let's actually start with the big picture here. For those new to Silver North, what's the company's core focus and really how do your flagship projects, Haldane and Tim, align with that strategy?
Jason: As you might guess from the name Silver North, we're focused on silver largely in the northern part of North America. But really, I think what one of the key tenets to what we do is the fact that we want to be looking in districts that are the established high grade mineralization, long lived mines and the Keno District in the Yukon, where our Haldane project is, exemplifies this really well. That's over a hundred year old district. Some of the highest grade silver mines in North America have been located in the Keno District. So, that fits our strategy extremely well. But the other part of that is identifying new districts that have the potential to be long high grade mines, long lived high grade mines.
And our Tim Project, I think is a great example of that. We're about 19 kilometers north of what was the previously operating Silvertip mine and Coeur, our partner on that project has on our Tim Project, has stepped back from mining at Silvertip to take a more district scale approach. And the work that they've done has started to outline a high grade, potentially high grade silver district that stretches into the Yukon and could be a long, large high grade scenario for mines in this part of the world. So, we've got the established district at Keno with Haldane and then this newly emerging district in the Silvertip area of Southern Yukon, Northern BC.
Lyndsay: Let's dive into that Tim Project just a little bit further. Your May update reviewed the 2024 drill results. What did you learn from that campaign and how is that shaping your approach the upcoming season?
Jason: I think really key to this is the fact that when you look at these emerging districts, you've got an idea and an exploration thesis that you're operating under. And this program at Tim that Coeur conducted last year really kind of solidified that thesis, showed that there was a CRD carbonate replacement deposit style system active at Tim. The results, we didn't get high grade silver intercepts in in the drilling.
We did hit some silver, but we saw lots of other geological indications indicative of these systems. And that's really important because we always use the needle in the haystack analogy, but at least we know we're in the haystack now, and we can start to look for the needle. And that's an important piece of the puzzle. And I think Coeur has the luxury of looking at the whole district and can say, okay we don't need to see high grade mineralization right off the bat.
What we need to see is evidence that the system's active, and then we can start narrowing down. So, a real systems based approach that really sets the stage for now trying to vector, in our subsequent programs, vector where the high grade silver mineralization might be.
Lyndsay: All of that sounds like just so much already going on for you. ldane Project. Now that sits on a prolific silver belt. So what's the latest from that project even further that we mentioned before? And are you likely to see new drill targets or a shift in exploration strategy heading into the rest of 2025?
Jason: I think we had a real game changer intersection last year at what we call our main fault target, which was a target that hadn't been successfully drilled in the past. Other groups had tried to test at depth a structure that you can see on surface, had some silver mineralization on surface, a few meters of over 200 grams silver, which is for where we are, that's on surface.
Those are quite good numbers. They were never able to actually test the structure at depth. And we were the first ones able to do that in our program last year, and highlighted what looks to be now just under a 30 meter wide zone with three high grade veins in it. And it showed stronger mineralization both in the veins, but also in between the veins in the altered areas, we saw more evidence of mineralization than we did in the first hole.
So, for us, really what this shows is that we have a nice wide structural zone here. It's got three veins with some really nice high grade mineralization. We've got an intersection of 1.83 meters true width of over a thousand grams silver. And really interestingly for us, this intersection also came with some gold, I think it was about 3.9 grams per ton gold, which is quite high for what we see.
We're generally half a gram gold or less. So, a nice precious metal rich intersection that we think we can build on. So, the strategy for us going forward is to step out along strike and also down dip on those two discovery holes and see how big we can extend this zone.
Lyndsay: You recently actually also secured funding through a charity flow through private placement. So give us a story behind that raise and how those funds are being deployed across your portfolio.
Jason: The charity flow-thru are a really good one for junior exploration companies operating in Canada because we can raise money at a significant premium to our current share price. So, right now, this financing's in the $0.21 offering. We're trading at $0.15 right now. So, it really allows us to minimize dilution. So that's obviously a fantastic thing for our shareholders. And of the $2.1 million we're raising, $2 million will go to Haldane and basically, that program I just outlined for you.
With about a $100 thousand going to a very early stage prospect that we call Veronica, that is adjacent to our Tim property in the Silvertip area. And so this is a first pass program just to see if the same CRD characteristics are present at Veronica. We've got some really nice soil geochemical anomalies, high silver soil anomalies that have never been followed up. So that's the plan this year. Use that a $100 thousand dollars to follow up at that property and see if we can identify the characteristics of a CRD system there to advance future work and hopefully drilling.
Lyndsay: Now, Jason, let's just pause here for a second because I'm reading that you also were awarded a Yukon Mineral Exploration Program grant. That's huge news. So how meaningful is that support to your broader exploration plans, especially in a market where capital is tight for juniors?
Jason: On approximately a $100 thousand dollar program the grant assuming that all our expenditures qualify, which they should without a problem that we'd get about $30 thousand back from the Yukon government. It's a great program because it really allows, you know, some of the toughest capital to raise is that early stage grassroots exploration. It's not very exciting. You're talking about soil geochemical anomalies and prospecting. It's not drill intersections that can really drive the market. So, those are some of the hardest funds to raise. So, the significance for us is the support from the Yukon government. It's a bit of a stamp of approval on what you're doing. You've got a concept they have reviewed it, said, yes, I think this concept makes sense and you go out, spend the money and once you hit a certain set of criteria and mostly on the reporting side then you're eligible to get $30 thousand back. So for us it's a great way to get targets, early stage targets tested or at least advanced so that we can move them towards drilling.
Lyndsay: Well, Jason, Silver North has so much positive action flowing through you right now. Thank you for coming on and just sharing that with us and sitting down with us. Be sure to come back and give us some updates soon.
You can find Silver North Resources on the Venture Exchange under the tick symbol V.SNAG and on their website at silvernorthres.com
Join the discussion: Find out what everybody's saying about this stock on the Silver North Resources investor discussion forum, and check out the rest of Stockhouse's stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
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