High-Grade Silver Hits Extend a Key Yukon Vein System Even Further

1. 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.
2. 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 Resources Ltd.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. 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. 

For additional disclosures, please click here.

1. 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.

Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB) released new assay results from its 2025 drill program at the Haldane Silver Property in the Keno Hill Silver District, Yukon, confirming a 50-meter strike extension of the Main Fault mineralized structure. The Main Fault has now been intersected across more than 100 meters of strike length and approximately 150 meters downdip, with surface mineralization extending the downdip projection to over 300 meters.

Hole HLD25-35 cut 14.40 meters averaging 231 grams per tonne silver, 0.24 grams per tonne gold, 0.54% lead, and 0.39% zinc beginning at 170.60 meters depth. Within that interval, a 1.25-meter section returned 1,261 grams per tonne silver and 0.74 grams per tonne gold. The hole also intersected a deeper splay structure that included 0.80 meters of 642 grams per tonne silver and 4.57% zinc. Approximately 50 meters updip, hole HLD25-34 returned 13.60 meters averaging 146 grams per tonne silver, 0.15 grams per tonne gold, 2.34% lead, and 1.24% zinc, including a 1.20-meter interval grading 467 grams per tonne silver and 12.07% lead.

"The Main Fault continues to produce significant silver intersections at Haldane," said Jason Weber, P.Geo., President and CEO of Silver North, noting that the latest intercepts were consistent with the 2024 discovery section and that grades and widths appeared to strengthen with depth.

Five of eight planned drill holes from the 2025 program have now been reported, totaling 1,759.5 meters. The Haldane Property spans 8,579 hectares, is road-accessible, and is situated near the Keno Hill Silver Mine, a district known for multiple silver-bearing quartz-siderite vein systems.

Silver North also published final analytical results from its 2025 field program at the Veronica Property in southern Yukon, part of the GDR Project. The company reported overlimit lead results from massive galena float samples collected at the Lodge and Cooper showings within the one-kilometer-scale Betty Target silver-lead-zinc anomaly.

On December 9, Ballanger added that Silver North had released "more positive drill results" from Haldane.

Two previously announced silver-bearing float samples from the Lodge Showing returned final lead grades of 76.8% and 9.6%. The higher-grade sample also contained 2,860 grams per tonne silver, 0.412 grams per tonne gold, 0.13% copper, 0.18% zinc, and 2,250 parts per million antimony. At the Cooper Showing, a silver-bearing outcrop sample grading 33.17 grams per tonne silver returned 1.36% lead.

"Lead mineralization, in the form of the mineral galena, is an important component of CRD style mineralization in the Silvertip District," said Weber in the December 11 announcement. He added that although the Lodge samples were float, their grades demonstrated potential for high-grade silver and lead mineralization at the Betty Target.

The Betty Target anomaly contains silver values ranging from 1 part per million to 31.1 parts per million, lead from 50 parts per million to 8,850 parts per million, and zinc from 200 parts per million to 3,830 parts per million. The anomaly remains open to the east and possibly to the south. The Veronica claims lie near the Tim Property and within an area prospective for high-grade silver-lead-zinc systems similar to those at the Silvertip Mine.

All field samples were submitted to ALS Laboratories for four-acid digestion and ICP analysis, with fire assay for gold and additional ore-grade procedures for overlimit silver and lead. The company noted that grab and float samples are selective in nature and may not be representative of overall mineralization.

Silver Market Dynamics and Industrial Demand

According to a December 10 report from Leede Financial, global photovoltaic installation capacity has grown more than tenfold over the past decade, with China accounting for more than half of that increase. Leede reported that photovoltaic demand has been the fastest-growing component of industrial silver use and that "silver demand for photovoltaics now makes up 29% of total industrial demand, while in 2014 it only made up 11%." The firm noted that while PV installations rose more than tenfold, improvements in efficiency meant that silver demand grew roughly threefold over the same period.

A sector update from Peter Krauth on December 10 reported that silver traded above US$60 per ounce for the first time, less than two months after surpassing US$50. He attributed the move to tightening supply conditions and cited discussions with Jeff Clark regarding "five straight years of global deficits, shrinking inventories and tightening supply." Krauth also noted strong industrial demand and commented that China had been "quietly absorbing physical metal," contributing to reduced availability.

The BBC reported the same day that silver crossed US$60 per ounce as markets anticipated a U.S. Federal Reserve rate cut. The article stated that declining interest rates and a weaker U.S. dollar tend to increase investor exposure to precious metals. Yeow Hwee Chua of Nanyang Technological University explained that falling rates "naturally shift demand toward assets viewed as stores of value, including silver." Reuters noted that industrial demand from electric vehicles and solar panels also supported higher prices and quoted Kosmas Marinakis of Singapore Management University, who said silver was "not only an investment asset but also a physical resource," adding that rising manufacturing needs were contributing to demand. Reuters added that most silver production occurs as a by-product, making rapid supply increases difficult.

Experts Highlight Strengthening Case for Silver North

On November 17, Michael Ballanger of GGM Advisory Inc. reiterated his positive outlook on Silver North, calling it his "top junior silver pick for 2025 and beyond." He emphasized drill results from the Haldane Property, including hole HLD25-31, which intersected 13.15 meters averaging 818 grams per tonne silver, 1.39 grams per tonne gold, 2.54% lead, and 0.98% zinc, with a 3.2-meter section grading 2,014 grams per tonne silver and 1.72 grams per tonne gold. Ballanger wrote that the results reminded him of high-grade discoveries from the late 1970s and suggested that elevated gold values alongside silver could influence future valuation assessments.

Ballanger estimated that the company could reach a market capitalization of CA$50 million based on reported results and outstanding assays and stated that "speculative buying in anticipation should take the share price to a new 52-week high." He concluded with a "STRONG BUY" recommendation.

Bob Moriarty of 321 Gold also commented on November 18, describing the first three drill holes of the 2025 program as "outstanding," referencing intervals such as 13.15 meters of 818 grams per tonne silver, 1.39 grams per tonne gold, 2.54% lead, and 0.98% zinc.

On December 9, Ballanger added that Silver North had released "more positive drill results" from Haldane, noting a further 50-meter strike extension at the Main Fault and reporting intercepts including 231 grams per tonne silver over 14.40 meters, with a 1.25-meter interval grading 1,261 grams per tonne silver. He noted that five holes had been reported and that the Main Fault now extended 100 meters on strike and 150 meters downdip in drilling.

Main Fault Growth Highlights Ongoing Exploration Momentum

Silver North's corporate presentation indicates that the 2025 drill program aimed to expand the Main Fault discovery along strike and down dip. The company reports three new vein discoveries across the Haldane Property, with limited drilling completed to date. The Main Fault, first confirmed during the 2024 program and extended through recent results, remains open for further exploration.

The Haldane Property is located within the geological setting that hosts the Keno Hill Silver Mine, a historic high-grade district with more than 220 million ounces of past production. Recent results suggest potential for multiple Keno-style vein systems at Haldane, supported by mineralization confirmed at Main Fault, West Fault, Bighorn, Middlecoff, and Johnson.

The 2025 program consisted of 10 to 12 planned holes totaling roughly 2,500 meters. With final assays pending, Silver North plans to incorporate all results into updated geological models to guide additional drilling phases. 

Ownership and Share Structure¹

Management & Strategic Investors owns 14.6%, and the remainder is held by retail investors.

The company has a market cap of approximately CA$23.19 million and a 52-week share-price range of CA$0.065 to CA$0.43 per share.