Reasons Experts Like This Yukon Junior Miner
Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB), for starters, demonstrated silver grades as high as 2,470 grams per ton over 0.73 meters at its primary asset and recently secured financing for a follow-up drill program. One analyst rates the company "Strong Buy for all time horizons."
Silver North Resources Ltd. (SNAG:TSX.V; TARSF:OTCQB) boasts a number of factors that make it compelling, experts say, from its projects and their location to its balance sheet and stock pattern.
"The outlook for Silver North could scarcely be better at this time," Technical Analyst Clive Maund wrote recently.* "The company has positioned itself as a leading primary silver explorer in Canada at a time when the silver price is set to explode higher to commence closing the gap with gold."
Most recently, the Canadian explorer raised CA$1.35 million in a non-brokered private placement that closed in April. It will use the money to advance its flagship project Haldane in the Yukon and for working capital, as noted in a news release.
With this capital, and Coeur finding work at Tim, Silver North can focus its full efforts on Haldane.. Plans are also afoot to raise Cdn$2 million for a drill program to test new targets along the West and Main Faults and the emerging Bighorn target, explained John Kaiser of Kaiser Watch, a junior resource sector blog. Last year, the bear market prevented Silver North from moving forward in this way. Instead, the explorer raised only enough funds for a much smaller, three-hole drill program, and carried that out last September.
The results were "very significant despite being ignored by the market," leading Kaiser to choose Silver North as a Bottom Fish Spec Value Rated 2025 Favorite, he wrote on Jan. 10. The trio of holes, two of which were drilled in the Main Fault, intersected high-grade silver mineralization, including 0.73 meters of 2,470 grams per ton (2,470 g/t) silver and 9.64 g/t gold.
"Not only does this demonstrate that the Main Fault is also fertile for high-grade silver lenses that should repeat along its strike, but it gives the junior a delineation focus when it returns in July," Kaiser added.
Along with the funding in place, Michael Ballanger, founder and publisher of GGM Advisory Inc., highlighted in an April 28 article that of the 12 kilometers (12 km) of known prospective silver vein mineralization at Haldane, only a small part has been tested.
Through exploration so far, Silver North identified three additional silver-bearing vein-fault targets. One is West Fault, where hole HLD21-24 returned 3.14m of 1,351 g/t silver, 0.08 g/t gold, 2.43% lead and 2.91% zinc. The other two are the Middlecoff and Big Horn areas.
The company's geological team determined that an airborne magnetics and electromagnetics geophysical survey is needed to understand the structural architecture at Haldane and thereby guide the identification of further drill targets at the Main Fault and surrounding areas.
For Richard Mills, host of Ahead of the Herd, including Haldane's location and potential, and the company's plan for it, he said on April 23. Haldane is in the Yukon's Keno Silver District, which has produced 200,000,000 ounces (200 Moz) of silver so far and some of the world's highest grades of it, Mills noted on April 23. The average silver mine in the district is 30 Moz, and the historical grade of silver produced there is about 1,100 g/t. Many of the area's mines also produce zinc and lead as byproducts.
"The outlook for Silver North could scarcely be better at this time," Technical Analyst Clive Maund wrote recently.Haldane is adjacent to Hecla Mining Co.'s (HL:NYSE) producing Keno Hill mine that shares a similar type of mineralization. When Hecla started mining there in 2023, it had Proven and Probable reserves of nearly 50 Moz at 700 g/t, noted Mills.
Given the 12 km of vein potential and additional discoveries, including West Fault, and given Silver North's current market cap, Mills wrote, "it's not unreasonable to think that you could get multiples on that with a successful drill program." Further, Haldane has the potential to be a standalone project or a takeout target, specifically for neighbor Hecla.
"Demonstrating 30, 40, 50 Moz of silver likely attracts serious consideration from Hecla," added Mills.
*Technical Analyst Maund, in his April 25 report, pointed out Silver North's second project, Tim, in which Coeur Mining Inc. (CDE:NYSE) has the option to earn a 51% interest. Coeur is paying the exploration costs, advantageous to Silver North. Tim is in the emerging Silvertip District in southern Yukon, close to its border with British Columbia, and is 19 km northeast of Coeur's Silvertip project.
Tim boasts a carbonate replacement deposit-style system. Coeur is preparing for a follow-up drill program this year at the project, based on drill results and airborne geophysical survey data, obtained last year.
From a technical point of view, Silver North is beginning to break out from a large base pattern, Maund explained. The stock's 14-month chart shows a positive volume pattern, an uptrending accumulation line and a bullish cross of the major moving averages. These are signs it is breaking out into a major bull market.
Silver North "is rated a Strong Buy for all time horizons," Maund wrote. "The first target for an advance is CA$0.25-0.27. The second target is at about CA$1 with [a] higher target possible." (The company's share price now is about CA$0.12.)
Silver Poised To Break Free
A huge buildup in short positions in silver over the previous six months has created a pressure cooker-like situation for the metal, which it eventually will burst out of, according to Maund. When it happens, the silver price is expected to have a "spectacular vertical spike" past its 2022 highs of US$50 an ounce (US$50/oz). Also when it happens, silver stocks will "go ballistic," with no to little warning.
"Regardless of their individual charts/patterns, pretty much all mid and large-cap silver stocks will ascend vertically, and you won't be able to chase them fast enough," added Maund. "You want to be positioned in silver stocks before they break higher like this, not after."
Bob Haberkorn, a senior commodities broker at RJO Futures, told Kitco News on April 28, that silver prices are set to gain 40% or more in the medium term.
Michael Ballanger, founder and publisher of GGM Advisory Inc., highlighted in an April 28 article that of the 12 kilometers (12 km) of known prospective silver vein mineralization at Haldane, only a small part has been tested."A realistic target for silver is probably closer to $50 at some point this year," he said. "And I think the move's going to happen sooner than later. I think you're going to see a move in the short term to $40, and [to] $50 by September."
The gold:silver ratio also indicates more upside for silver, Mills wrote on May 2. The ratio currently is 100:5, which compares to its average since the early 1970s of 60:1. (A 100:5 ratio means it takes 100 ounces of silver to buy one ounce of gold.)
FXEmpire Senior Analyst Christopher Lewis purported in an April 30 article that if silver can break the US$34/oz level, it most likely will race towards US$35.
"Ultimately, this is a market that, given enough time, I think reaches those highs and eventually breaks out," he added. "And that's especially true if the U.S. dollar continues to suffer in the currency world."
The 29 analysts and traders who participated in Reuters' latest quarterly poll were more conservative in their forecasts. Collectively, they predicted an average silver price of US$33.10/oz in 2025 and US$34.58/oz in 2026, the news agency wrote in an April 30 article.
From a fundamentals point of view, ongoing robust demand for silver and its ongoing supply deficit will drive the metal's price to new highs this year and for many more after, wrote Peter Krauth of Silver Stock Investor on May 2.
BMO Capital Markets Analyst Neils Christensen told Kitco News on April 30 that use of silver by the solar power sector, needed for photovoltaic panels, will keep silver supply in a deficit for the foreseeable future. This year, BMO predicts the solar power industry will use 246 Moz of silver, and this compares to demand for jewelry of 203 Moz and investment demand of 234 Moz. Next year, solar demand for silver is forecasted to peak at 261 Moz.
The Catalyst: More Drilling
This year Silver North intends to drill several thousand meters in Haldane's Main Fault, its most recent discovery, reported Mills. He described this target as "special," given it is a large mineralized chunk and contains three layers.
Streetwise Ownership Overview*
Silver North Resources Ltd. (SNAG:TSX.V; TARSF: OTCQB)
*Share Structureas of 5/6/2025Source: Refinitiv"Silver North does have a plan, they do have a focus and they're executing," Mills wrote. "And they think drilling this year is going to, at the very least, achieve clear visibility towards, if not outright, attaining a 30 Moz normal Keno deposit."
Ownership and Share Structure
According to Refinitiv, eight strategic entities own 22.89% of Silver North Resources. The Top 3 shareholders are Pacific Opportunity Capital Ltd. with 7.88%, Fruchtexpress Grabher Gesellschaft mbH & Co. with 6.71%. The board and management hold 16.14%, according to Silver North, including Executive Chair Mark T. Brown who owns 5.5%.
The rest is in retail. Currently, there are no other institutional investors, yet.
Refinitiv reports Silver North having 61.2 million (61.2M) outstanding shares and 46.79M free float traded shares. The explorer has a market cap of CA$8 million and a 52-week range of CA$0.065-0.24 per share.
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Important Disclosures:
Silver North Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.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. Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.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.
* Disclosure for the quote from the Clive Maund article published on April 25, 2025
For the quoted article (published on April 25, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$1,500.Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts' Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressedClivemaund.com Disclosures
The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.