Technical Analyst Clive Maund takes a look at Silver North Resources Ltd. to explain why it is an Immediate Strong Buy.
It's a good time to take another look at Silver North Resources Ltd. (SNAG:CVE;TARSF:OTCMKTS) because it is at another favorable buy spot. While the fundamentals of the company have been covered in previous articles, there has been one significant piece of news since we last looked at it a month ago, which is that SILVER NORTH OPTIONS GDR SILVER PROJECT.
Given the extraordinarily positive outlook for silver, it makes sense for the company to acquire more prospective ground, especially as it is close to their existing Tim property and is, therefore, logical from a logistical point of view.
Jason Weber, P.Geo., President and CEO of Silver North, commented, "The GDR acquisition represents a strategic move to acquire additional ground prospective for high-grade CRD silver mineralization in this under-explored district. "Despite the early-stage nature of these properties, all three have favorable characteristics for CRD mineralization. In particular, the Veronica claim group has a strong, unexplained multielement soil geochemical anomaly just west of our Tim Property. This complements the Tim Property nicely and gives Silver North access to more of the prospective stratigraphy in this district."
Before we move on to consider the all-important stock charts, it's worth grounding ourselves in the fundamental circumstances of the company by means of some interesting slides lifted from the company's latest