Silver North begins 7,000-meter drill program at Haldane – Richard Mills

2026.06.20

Two drills are turning at Silver North’s (TSXV:SNAG, OTCQB:TARSF) Haldane Silver Project in the Canadian Yukon territory.

The Vancouver-based company announced on June 15 that two diamond drill rigs are now operating on the property and are expected to continue through the summer and into the fourth quarter.

The program is funded for two years to drill 10,000 to 14,000 meters; up to 7,000m is expected to be completed by October.

Haldane

Silver North’s underexplored Haldane project demonstrates high-grade, high-width potential akin to the veins being mined at Keno Hill.

The road-accessible, 8,579-hectare property is 25 km west of Keno City, YT, adjacent to Hecla Mining’s (NYSE:HL) producing Keno Hill silver mine. Haldane hosts several occurrences of silver-lead-zinc-bearing quartz siderite veins resembling the veins being mined at Keno Hill.

Silver North in November 2024 announced the Main Fault discovery.

Silver North makes third discovery at Haldane, within Yukon’s Keno Hill high-grade silver mining district

Thought to be a parallel structure to the West Fault, Main Fault was targeted in the 2024 drill program based on surface sampling of the fault at the Main and Main South showings where oxidized vein samples on surface average 151 g/t silver over 7.6m and 223 g/t silver over 3.6m. Two holes tested this target, successfully intersecting a wide structural zone consisting of three siderite-sulfide vein faults and breccias with an interstitial stockwork of siderite-bearing veinlets and brecciated host rocks that forms the overall structural zone.

Drilling confirmed that the Main Fault, marked by a series of silver-bearing surface showings, is a productive structure hosting multiple high-grade silver-bearing veins and breccias.

Main Fault is the third discovery Silver North has made since acquiring the Haldane property — a phenomenal success rate for an early-stage junior.

The company also found almost 2 ounces (1 troy oz = 31.2 grams) of silver in soils at the Bighorn target with high lead concentrations.

Located 3 kilometers away from the Main and West Fault areas, Bighorn was found to contain new Keno-style veins when SNAG drilled it in 2019.

Under the Spotlight — Jason Weber, CEO, Silver North Resources

The Haldane Silver Project is within the Yukon’s Keno Silver District, one of the highest-grade silver districts in the world. In fact, it’s right next to the silver veins being mined at Keno Hill by Hecla.

There have been 200 million ounces of silver mined so far out of the district and the mines are primary silver mines with by-products zinc and lead. Hecla started mining Keno Hill in 2023 with proven and probable reserves of close to 50 million ounces @ 700 grams per tonne. The mineralization is similar to the Haldane Silver Project.

The average silver mine in the Keno Hill District is 30 million ounces, and the historical production grade sits right around 1,100 g/t silver.

Silver North has done three small drill programs and each of the programs has made discoveries, but Main Fault is special, it’s a large chunk of mineralization that appears to coalesce from a wide zone with multiple veins into a narrower (albeit still 13 metres wide in hole HLD25-31) higher grade zone that, interestingly, also has gold with it.

To any observer the obvious path for SNAG is to be a take-over target for Hecla, however with continued success at Main Zone and the addition of other targets into the mix, the development of a standalone project here should not be discounted. 

Silver North’s 2025 drill results set the table for bigger 2026 drill program — Richard Mills

The high silver grades indicate that Haldane is a primary silver play — a rarity in silver exploration, with most silver found as a byproduct of lead-zinc or gold. For example, hole HLD25-31 contained 81% silver, 12% gold, 5% lead and 2% zinc (by value). 

2026 drilling has two parallel objectives: expand the Main Zone and test known and new targets.

Initially, both drills will be active at the Main Zone, where Silver North has identified mineralization over 100 meters of strike and approximately 300 meters down dip from surface, including a 2025 result of 13.15m averaging 818 g/t silver, 1.39 g/t gold, 2.54% lead and 0.98% zinc from 249.9m down hole in HLD25-31.  

Later, one rig will move off the Main Zone to test known targets such as Bighorn, where only one hole has been drilled to date, as well as new targets generated from ongoing surface fieldwork and the company’s recently completed SkyTEM airborne geophysical survey.

The survey consisted of 100-meter spaced flight lines with 1,000-meter spaced tie lines for a total of 944 line-kilometers of survey, collecting both magnetics and time domain electromagnetic data.

The purpose of the survey was to aid detailed drill hole targeting by refining the underlying geology, as well as helping define Haldane’s complex structural architecture, the company stated on April 9.

Silver North completes airborne geophysical survey at Haldane, YT; retains full ownership of Tim property — Richard Mills

“We are very excited to return to the Haldane Project on the strength of our 2025 drilling results,” President and CEO Jason Weber said in the June 15 news release. “Hole HLD25-31 is the best hole drilled to date on the property and confirms the scale and continuity of high-grade silver mineralization at the Main Zone. With two drills turning and a robust pipeline of new targets, we believe this program has the potential to be transformational for Silver North.”

In addition to diamond drilling, field crews will be ground-truthing targets generated from the SkyTEM survey, as well as conducting detailed structural and lithological mapping at the Main, West Fault, Middlecoff and other target areas to refine the structural and lithological models for these targets.

With two full seasons of exploration budget in hand, Silver North was able to justify construction of a camp on site, as opposed to staying in its nearest neighbour’s (Banyan Gold) camp about an hour drive from the drill. The current camp is located in the valley in close proximity to the primary target areas, as little as a 10-minute drive away.

The camp location enhances efficiency, safety and overall productivity along with not having to maintain the road between Haldane and AurMac.  

Yukon Mining Alliance tour

The project is also getting exposure during the Yukon Mining Alliance’s annual investor conference and property tours in mid-July. This event traditionally brings an impressive group of investors and major company reps who get the opportunity to meet with both management and field staff. This year the tour will visit up to 12 sites, including Haldane. Silver North and Banyan will share one of the tour dates, each accommodating half the group in the morning and switching sites in the afternoon.

Tim

At its Tim Project, Silver North had an option agreement with Coeur Mining that was terminated as of as of May 24, 2026 — reflecting Coeur’s renewed focus on its Silvertip mine. Silver North thus regained 100% ownership of Tim.

Coeur completed 2,250 meters of drilling in six holes in 2024, largely testing the Wolf Fault along approximately 1,000 meters of strike length within prospective stratigraphy. Drilling targeted structurally hosted “chimney-style” mineralization potentially hosted within the Wolf Fault and splays of it, as well as stratigraphically controlled “manto” mineralization along conductive stratigraphic horizons.

Management believes that the Tim property and the company’s adjacent Veronica property are highly prospective for Carbonate Replacement Deposit (CRD)-style mineralization.

CRD

Veronica

Also in May, Silver North started an airborne magnetics and VTEM geophysical survey at the company’s Veronica Project in the Silvertip-Midway District of the Yukon Territory.

Airborne geophysical survey underway at Silver North’s Veronica Silver Project, YT — Richard Mills

“The primary focus of this survey is to advance the mapping of stratigraphy and structure,” CEO Weber stated in the May 14 news release. “In addition, we believe it has potential to identify conductive or low-resistivity CRD manto targets in the subsurface. By integrating this new data with our adjacent Tim property dataset, we expect to gain greater insight into a much larger mineralizing system extending across both projects.”

According to the company, Geotech Ltd. is conducting magnetics and time domain electromagnetic VTEM surveys at Veronica, consisting of 100-meter-spaced flight lines with 1,000-meter-spaced tie lines for a total of 253 line-kilometers of survey. The results of this work will aid in mapping lithology and host stratigraphy as well as revealing the structural architecture for potential faults that could host and control mineralizing systems like the Lodge showing, where 2,860 g/t silver was found in a float cobble and 33.2 g/t silver was found in a NE trending fault at the Cooper showing.

In addition, the Company sees a great opportunity in the combination of this new Veronica survey data with that collected by Coeur at Tim. The ability to assess the greater area provides context for both projects and will aid in prioritizing targets in the combined project area.

Silver North’s Veronica property yields high-grade silver-lead-zinc mineralization — Richard Mills

Conclusion

Silver North offers investors exposure to one of the most prolific silver districts in Canada and the world — Keno Hill — which is seeing major investment from Hecla Mining, the largest silver producer in the United States, following Hecla’s 2022 takeover of Alexco Resources.

Silver North’s underexplored Haldane project demonstrates high-grade, high-width potential akin to the veins being mined at Keno Hill.

The company has done a lot of work in a relatively short period of time trying to understand the stratigraphy and layout of the property.

Last year the small drill program (1,760m, eight holes) successfully intercepted high-grade silver mineralization highlighted by hole HLD25-31. The program set the table for a much larger drill campaign this summer targeting 7,000 meters; SNAG is fully funded ($12 million in the treasury) for up to 14,000 meters of drilling over two years. 

Silver North is working towards proving up, at minimum, an average-sized Keno District silver deposit (25 to 30 million ounces of silver) at Haldane but it’s safe to say their plans are larger than that and will be targeting a  stand-alone deposit. These are serious guys with a track record of executing their plans.

The company’s success at the drill bit is certainly impressive. In only 24 holes, SNAG has made three Keno-style silver vein discoveries —  a striking hit rate.

Silver North is also deepening knowledge of its projects. In May, a SkyTEM airborne geophysical survey was completed at Haldane, and an airborne magnetics and VTEM geophysical survey was started at Veronica. Results are pending.

Now two drills are turning at Haldane — giving them the flexibility to build at the Main Zone as well as testing known targets such as Bighorn, where the company found almost 2 ounces (1 troy oz = 31.2 grams) of silver in soils; only one hole has been drilled into Bighorn.

Exploration has been facilitated by a new camp at Haldane, making commuting unnecessary for workers and increasing efficiency. In July the project will be visited by the Yukon Mining Alliance tour.

Silver North now has 100% ownership of Haldane and Tim, and an option on the GDR Project. One of GDR’s properties is Veronica, which has a multi-element soil anomaly (the Betty target) defined over a 1,000 by 1,000m area that is open to the east, with values ranging from 1.0-31.1 parts per million (ppm) silver, 50-8,850 ppm lead, and 200-3,830 ppm zinc.

Coeur is focused on getting its Silvertip mine back in operation and likely moving towards a PEA. Building a mill would be part of that plan, so it will be interesting to see the size of the mill and whether Veronica could provide future synergies.

Short-term catalysts include drill results from Haldane (potentially a fourth discovery); the receipt of data from the completed geophysical survey at Haldane; and the current geophysical survey at Veronica.

Silver North Resources
TSXV:SNAG, OTCQB:TARSF
Cdn$0.235 2026.06.18
Shares Outstanding 105.8m
Market Cap Cdn$24.9m
SNAG website

Richard (Rick) Mills
aheadoftheherd.com

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Richard owns shares of Silver North Resource (TSX.V:SNAG).
SNAG is a paid advertiser on his site aheadoftheherd.com
This article is issued on behalf of SNAG