Silver North completes largest drill program to date at Haldane Silver Project, Keno Hill Silver District, Yukon – Richard Mills

Silver North Resources (TSXV:SNAG, OTCQB:TARSF) reports the completion of 24 drill holes for 6,169 meters at its Haldane Silver Project in Canada’s Yukon Territory.

The 2026 program is the largest ever undertaken at Haldane, with drilling targeting expansion of the Main Zone mineralization near 2024 and 2025 drilling, distal step-outs to test the Main Zone structure, and additional drilling at the Bighorn target.

Drilling started in mid-June and management expects the first assay results to arrive in the first half of October.

“The 2026 program was designed to build on the significant discovery we made at the Main Fault and to test the potential to expand that mineralization along strike and down dip, while also evaluating additional targets across Haldane,” Silver North’s President and CEO Jason Weber stated in the Oct. 7 news release.

“Our objective is to grow the scale of the discovery and demonstrate the broader potential of Haldane, creating opportunities for meaningful value creation as we advance the project. With the largest drill program in Haldane’s history now complete, we are eager to see the results and what they may tell us about the potential for further discovery and expansion.”

The program consisted of two drill rigs, with the primary focus being the expansion of high-grade silver-lead-zinc mineralization at its recently discovered Main Fault target. Drill hole HLD25-31, reported on Nov. 17, 2025, intersected 818 g/t silver, 1.39 g/t gold, 2.54% lead and 0.98% zinc over 13.15m.

At Bighorn, the only hole ever drilled, in 2019, returned strongly anomalous silver mineralization, including 125.7 g/t silver over 2.35m.

Four holes were drilled at this blind target located 3 km from the Main Fault. Additional work included airborne geophysical surveys, detailed structural and lithological mapping, prospecting and soil geochemical sampling. A total of 1,322 soil samples and 75 rock samples were collected.

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.

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.

Each of Silver North’s three small drill programs before this year’s 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 meters 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. 

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). 

Veronica

Also in September, Silver North finished its 2026 exploration program at Veronica, located in the Yukon’s Silvertip District. The program was designed to build on the success of the 2025 program which identified silver mineralization in float and outcrop in stratigraphy that appears to be prospective for Carbonate Replacement Deposit (CRD)-style mineralization, similar to that seen at Coeur Mining’s Mining (TSX:CDE) Silvertip mine, located 11 km southwest of Veronica.

The primary objective of the 2026 program was to expand an open-ended multi-element soil geochemical anomaly that currently covers an area of 1.2 km by 1 km. Detailed prospecting and mapping within the anomaly was completed to further understand and expand the Lodge and Cooper showings, where mineralized float returned 2,860 g/t silver and an outcropping northeast-trending fault returned 33.2 g/t silver.

The program also investigated several target areas defined by airborne magnetics and VTEM geophysical anomalies. Contour soil geochemical lines were carried out in select areas of the southern half of the project where anomalous soil geochemical results coincide with magnetics and VTEM conductivity anomalies.

In total, 1,112 soil geochemical samples (including 60 samples from the adjacent Tim property) and 53 rock samples were collected in the program. Results will be reported once analytical results have been received and incorporated into the Veronica database and interpreted together with geophysical data and lithological mapping from the 2026 program.

Conclusion

Silver North is fully funded for its 2026 and 2027 exploration and drilling campaigns.

SNAG’s Haldane project is very interesting, situated adjacent to Hecla Mining’s high-profile Keno Hill silver mine.

When I talked to Jason Weber in early September he commented on the high-grade nature of the project and the district:

“Of the 220Moz oz of silver produced in the district, that was up until the 1990s, the average mine head grade was somewhere around 1,149 grams per tonne silver. It’s extremely high-grade, and that’s the kind of grades we’re chasing here. If you look at some of the other holes that we drilled in 2025, hole 36 was just under 3m of 1,069 grams per tonne silver.

“Hole 30 was 2.5m of 1,088 grams per tonne. We had 0.8m of 1,438 grams per tonne. Then we had some wider intercepts as well, 7.95m of 365 grams silver per tonne.

“If you compare grades to what Hecla is mining next door, the way we look at it is anything over 300g per tonne silver goes through the mill there. 300g per tonne over 3m is what we classify as a potentially economic drill intersection. We’ve got those types of intersections in pretty much every hole that we’ve drilled at the Main Zone to date.”

Under the Spotlight — Jason Weber, CEO Silver North TSXV:SNAG

The Yukon Government MIN files that came out in 2003 had production statistics for 1913-89 indicating that 4.87m tonnes were mined at an average grade of 1,389g per tonne silver. SNAG had a blind discovery at the West Fault of 1,351g per tonne silver. That matches the historical production grade pretty closely.

As for beating current reserve averages, Hecla’s massive modern footprint in the district operates at a reserve grade of roughly 700g per tonne silver. Silver North’s breakthrough hole was 818 grams per tonne over a 13.5m interval. That comfortably eclipses the average grade of the mine running next door.

The thing that I really appreciate about Haldane and what Silver North is finding is the gold advantage. While Keno Hill is traditionally a pure silver/lead/zinc camp, Silver North’s Main Fault target frequently displays anomalous gold. SNAG had 1.39 g/t and 0.73 g/t intersections in its last drill campaign and potential gold recovery would be a unique by-product in this area.

I also asked Weber his plans for Haldane going forward.

“I think we have to build out these targets at Haldane,” he said. “Rather than spending the money to basically come up with an MRE [Mineral Resource Estimate] on one target, I’d like to develop multiple targets to the point where those two silver producers, Hecla and Coeur, or others silver companies can make their own judgments on what we’ve got. And that’s going to be the catalyst for them to look at acquiring the project or the company.

(Coeur in May terminated its option on Silver North’s Tim property, which returned 100% ownership of the asset to SNAG. Before the termination, Coeur had been funding exploration at the Carbonate Replacement Deposit (CRD) project. Coeur’s Silvertip mine is just 19 km away — Rick)

“That’s the goal for us. We’ve got a silver market here that is amenable to that so the best value for our shareholders is building that framework rather than getting that increased level of confidence in those ounces. Those silver companies I mentioned can build their own databases, we don’t have to spend to do it for them. If we continue to deliver strong drill results, we build the framework of that potential. That’s what’s going to interest a potential suitor for us.”

Silver North Resources
TSXV:SNAG, OTCQB:TARSF
Cdn$0.245 2026.10.07
Shares Outstanding 105.8m
Market Cap Cdn$26.0m
SNAG website

Richard (Rick) Mills
aheadoftheherd.com

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Richard does not own 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