Silver North Resources (TSX-V:SNAG) has been informed that a combined 2% net smelter return (NSR) royalty on its Haldane Project in Yukon, Canada, has been acquired by Orogen Royalties (TSX-V:OGN), a transaction the explorer says highlights the project’s potential.
Orogen acquired the NSR from four separate royalty holders, each holding a 0.5% interest, for total consideration of C$500,000 ($510,050) in cash, plus a share of future royalty revenue capped at C$2.5 million.
Haldane is a ‘high-grade’ silver exploration project covering 86km² along the extension of the Keno Hill silver district, home to the namesake mine operated by Hecla Mining (NYSE:HL).
“Keno Hill is one of the highest-grade silver districts in the world with over 35 historical mine sites producing approximately 217 million ounces [Moz] of silver,” Orogen CEO Paddy Nicol says.
“The Haldane royalty acquisition was based on the strong geological potential of the project backed by solid operatorship at Silver North, and we are excited to be part of this emerging silver discovery.”
The Keno Hill district produced approximately 217Moz of silver from 1913 to 1989 at an average grade of 1,149 grams per tonne. Mining subsequently resumed briefly from 2011 to 2013 and again from 2021 to 2022.
Haldane is situated approximately 25km west of the main Keno Hill deposits. To date, Silver North has identified four Keno-style vein targets across the property.
The Main Zone Fault is the most advanced target, where initial drilling in 2024 intersected a broad zone of Keno-style silver-bearing veins, vein breccia, and stockwork mineralisation.
Follow-up drilling in 2025 extended mineralisation over 100m of strike and 150m down-dip. One hole returned 818g/t silver over 13.15m from 249.9m downhole, including 3.2m at 2,014g/t silver.
According to Silver North, Haldane has potential for additional vein discoveries, with only 37 holes drilled prior to the current exploration campaign and less than 10% of the mapped vein strike tested.
The company is currently conducting a two-year, two-rig drill program of up to 14,000m, focused on expanding the Main Zone and testing new silver targets.
Silver North’s primary assets also include the Tim and Veronica silver projects in the Silvertip district of southern Yukon and northern British Columbia.
Write to Jackson Chen at Mining.com.au
Image: Silver North Resources
