Key Investor Takeaways
- Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB; I90:FSE) completed its largest-ever drilling program at the Haldane Silver Project in Yukon’s historic Keno Hill Silver District, totaling 6,169 meters across 24 drillholes in 2026.
- High-grade silver, gold, lead, and zinc mineralization remained the primary exploration focus at Haldane’s Main Fault discovery, where previous drilling intersected 818 g/t silver, 1.39 g/t gold, 2.54% lead, and 0.98% zinc over 13.15 meters.
- New silver assay results are expected in the first half of October 2026, with all drill core, rock, and soil samples from the completed Haldane exploration program shipped to ALS Labs for analysis.
- Silver exploration targeted multiple mineralized zones, including Main Fault extensions along strike and down dip, distal Main Zone targets, and the Bighorn target, located approximately 3 kilometers from the Main Fault.
- Silver North’s other Yukon silver exploration assets include the Tim and Veronica projects in the Silvertip District. Silver North regained 100% ownership of Tim following the Coeur Mining Inc. (CDE:TSX; CDE:NYSE) termination of its option agreement in May 2026, while Veronica forms part of the GDR Project.
- Silver North reported funding for its 2026 and 2027 drilling campaigns, supporting its stated exploration programs across its Canadian silver properties.
Silver North Completes Largest Drill Program in Haldane Project History
Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB; I90:FSE) announced on October 7 that it had completed its largest drilling program to date at the Haldane Silver Project in Yukon’s historic Keno Hill Silver District. The 2026 campaign consisted of 24 drill holes totaling 6,169 meters, meeting the company’s stated objective of completing between 5,000 and 7,000 meters of drilling.
The program focused primarily on expanding silver-lead-zinc mineralization at the Main Fault discovery, including areas near the company’s 2024 and 2025 drilling. Additional holes tested more distant extensions of the Main Zone structure and the Bighorn target, approximately 3 kilometers from the Main Fault.
Two drill rigs operated during the campaign. The program included drilling at the Main Zone, Main Zone distal extensions, and Bighorn, where four holes were completed. Bighorn had previously been tested by a single drillhole in 2019, which returned 125.7 grams per tonne (g/t) silver over 2.35 meters.
“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,” stated Jason Weber, P.Geo., president and CEO of Silver North, in the company’s October 7 news release.
Weber added, “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 latest drilling followed results from the company’s 2025 exploration campaign. Drillhole HLD25-31 at the Main Fault intersected 818 g/t silver, 1.39 g/t gold, 2.54% lead, and 0.98% zinc over 13.15 meters, as reported in a November 17, 2025, news release.
In addition to drilling, Silver North completed airborne geophysical surveys, detailed structural and lithological mapping, prospecting, and soil geochemical sampling. The company collected 1,322 soil samples and 75 rock samples during the program.
All core, rock, and soil samples collected during the 2026 campaign have been shipped to ALS Labs in Whitehorse and Vancouver. The company also reported that its Haldane exploration camp had been winterized following the completion of field operations.
Management anticipated releasing the first tranche of analytical results during the first half of October.
Haldane is 100% owned by Silver North and is located adjacent to Hecla Mining Co.’s (HL:NYSE) Keno Hill Mine. According to the company, three Keno-style silver vein discoveries have been made at Haldane through 24 drill holes. The company’s other primary assets include the Tim and Veronica silver projects in the Silvertip District of southern Yukon and northern British Columbia.
Silver North stated that it was fully funded for its 2026 and 2027 drilling campaigns.
Silver Market Reflects Industrial Demand and Precious Metals Volatility
According to an October 6 commentary published by Kitco Media, Jeffrey Christian of CPM Group examined silver market fundamentals, investment demand, and the methods used to calculate supply deficits and surpluses. The discussion focused on why investment purchases and fabrication demand were treated separately when assessing silver market balances.
Christian explained that the distinction affected the number of years classified as periods of silver deficits. CPM Group also placed greater emphasis on macroeconomic conditions, supply and demand, inventories, and investor behavior than on technical analysis when evaluating precious metals markets. The commentary described the importance of examining “investment purchases from fabrication demand” when calculating market balances.
An October 7 report by Lockridge Okoth for BeInCrypto examined a sharp decline in precious metals prices as U.S. Treasury yields climbed. Silver fell from approximately US$60.13 to US$59.00 per ounce during a 15-minute period before rebounding.
Technical analyst Stewart Thomson assigned Silver North a “Speculative Buy” rating and identified resistance and profit-booking levels of CA$0.45 in the short term, CA$0.65 in the medium term, and CA$1.00 over the longer term.1
The report attributed the selling pressure to rising bond yields, with the 10-year Treasury yield reaching 5.35% and the 30-year yield reaching 5.70%. Because precious metals did not pay interest, higher bond yields increased the income investors gave up by holding them.
BeInCrypto also distinguished between declining market valuations and actual investment outflows. The report explained that falling precious metals prices reduced the estimated value of existing holdings without necessarily indicating that investors had sold their positions. As the article stated, “Only the price used to value them changed.”
Trading Economics reported on October 8 that silver traded at US$58.993 per troy ounce, representing a daily decline of 1.26% and a monthly decrease of 12.27%. Despite those declines, silver had gained 19.63% over the preceding year.
The market data provider described silver as “a widely traded precious metal with both industrial and investment applications.” Its report identified electronics, solar panels, and medical technologies among silver’s industrial uses, alongside its role as a store of value and portfolio diversification tool.
Trading Economics noted that silver prices were influenced by both industrial demand and investor sentiment, while interest rate expectations and inflation concerns contributed to market movements.
Third Party Highlights High-Grade Silver Results, Exploration Expansion, and Technical Signals.
1Technical analyst Stewart Thomson assigned Silver North a “Speculative Buy” rating in an August 20 report, citing several technical indicators in the company’s share-price charts. With shares trading at CA$0.26 at the time of his analysis, Thomson identified resistance and profit-booking levels of CA$0.45 in the short term, CA$0.65 in the medium term, and CA$1.00 over the longer term.
On the monthly chart, Thomson identified a breakout from a bull wedge and rectangle base, accompanied by bullish trading volume and rising on-balance volume. He also observed that stochastics were approaching a crossover buy signal. His daily chart analysis identified a bull flag, bullish divergence in the MACD indicator, and resistance near CA$0.46.
Thomson’s relative-performance analysis also identified an inverse head-and-shoulders pattern against the CDNX Index. He wrote that the pattern suggested, “long-term outperformance for the company’s stock price is beginning now.”
Alongside his technical assessment, Thomson discussed Silver North’s exploration activities and financial position. He highlighted the 5,000- to 7,000-meter Haldane drilling program, the completed SkyTEM survey, and exploration targets including West, Bighorn, Johnson, and Middlecoff. His report stated that Silver North had raised more than CA$13 million and was financed through 2027.
Thomson also identified several risks, including uncertainty over whether high-grade drilling intersections would form a contiguous, economically mineable resource. Additional considerations included potential shareholder dilution, sensitivity to silver prices, seasonal operating conditions in Yukon, permitting requirements, and regulatory constraints.
Silver Exploration Targets Extend Across Three Yukon Projects
Silver North Resources Ltd. has identified multiple exploration targets across its Haldane, Tim and Veronica properties in Yukon, with activities focused on high-grade silver mineralization, extensions of existing discoveries and carbonate replacement deposit (CRD) systems.
At Haldane, exploration has centered on the Main Fault discovery, where drilling has established mineralization extending at least 100 meters along strike and 300 meters down dip from surface. Previous drilling included hole HLD24-30, which intersected 1.83 meters grading 1,088 grams per tonne (g/t) silver and 3.9 g/t gold.
Subsequent drilling in hole HLD25-31 returned 13.15 meters averaging 818 g/t silver, 1.39 g/t gold, 2.54% lead, and 0.98% zinc. The company’s completed 2026 drilling campaign included additional testing of the Main Zone and its extensions, along with four holes at the Bighorn target, approximately 3 kilometers from the Main Fault.
Other exploration areas at Haldane include the West Fault, where drilling has traced mineralization over an area of approximately 100 meters by 90 meters, with the zone remaining open for expansion along strike and at depth. Silver North has also identified the Middlecoff and Johnson targets, both associated with historical high-grade silver production.
Beyond Haldane, Silver North’s Tim property represents another component of its Yukon silver exploration portfolio. Located approximately 19 kilometers north of the Silvertip Mine, Tim returned to Silver North’s 100% ownership following the termination of Coeur Mining’s option agreement effective May 24, 2026.
Exploration at Tim has focused on carbonate replacement deposit (CRD) mineralization associated with the same rock formations hosting the Silvertip deposit. Previous exploration included a six-hole, 2,250-meter drilling program targeting the Wolf Fault.
Results included drillhole TIM24-Pad04-002, which intersected 3.39 meters grading 52.8 grams per tonne (g/t) silver, 0.28 g/t gold, 0.11% lead, and 0.27% zinc. Trenching also returned 4 meters grading 468.1 g/t silver, 21.1% lead, and 0.3% zinc in Trench 1, while Trench 3 returned 8.8 meters grading 265.0 g/t silver, 6.7% lead, and 0.9% zinc.
Geological observations at the Wolf Fault included calcite veining exhibiting fluorescence under ultraviolet light, recrystallization of host limestone units, and silver-bearing oxidized mineralization at surface. Silver North identified these features as indications of a CRD system at Tim.
Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB; I90:FSE)
| Strike Price | Number | Expiry Date |
|---|---|---|
| $0.3 | 1,259,999 | 10/19/26 |
| $0.2 | 62,755 | 10/19/26 |
| $0.3 | 100,000 | 12/28/26 |
| $0.2 | 43,750 | 12/28/26 |
| $0.2 | 5,260,000 | 04/11/27 |
| $0.15 | 69,360 | 07/31/27 |
| $0.15 | 314,800 | 08/12/27 |
| $0.35 | 414,090 | 12/19/27 |
| $0.15 | 252,000 | 04/09/28 |
| $0.15 | 9,755,000 | 04/09/28 |
| $0.35 | 2,500,000 | 06/21/28 |
| $0.35 | 1,099,250 | 06/28/28 |
| $0.35 | 556,250 | 07/18/28 |
| $0.56 | 11,048,373 | 02/10/29 |
| $0.4 | 1,546,772 | 02/10/29 |
| $0.35 | 1,233,500 | 07/31/29 |
| $0.35 | 5,000,000 | 08/12/29 |
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 09/12/23 | TARSD:OTCQB | 1 | TARSF:OTCQB | 1 |
| 08/14/23 | ANZ:TSXV | 5 | SNAG:TSXV | 1 |
| 08/14/23 | TARSF:OTCQB | 5 | TARSD:OTCQB | 1 |
| 04/30/15 | TCC:TSXV | 10 | ANZ:TSXV | 1 |
| 06/19/09 | TSISF:OTCQB | 1 | TARSF:OTCQB | 1 |
*Share Structure & Warrant Information as of 10/8/2026
Ownership and Share Structure2
Management and strategic investors own 14.6%, and the rest is retail and institutional.
As of August 13, 2026, the company has a market capitalization of approximately CA$21.6 million and a 52-week share price range of CA$0.185 to CA$0.57 per share.