Silver North Resources (TSX-V:SNAG) is raising up to C$2.1 million ($2.36 million) in a private placement to fund exploration of its Haldane and GDR mineral properties in the Yukon Territory.
The company will divest charity flow-through units at a price of C$0.21 per unit.
Each unit consists of one share as well as one-half warrant, which entitles the holder to purchase additional shares at a price of $0.35 per share, up to 48 months after the issue date.
Silver North, which has a market capitalisation of C$9.52 million, will use proceeds towards a sampling and mapping program at the Veronica claims.
As recently reported by Mining.com.au, the company received C$30,000 in funding from the Yukon Mineral Exploration Program for July activities, investigating a milti-element soil anomaly with soil geochemical sampling, mapping, and prospecting.
Spanning 8,164 hectares in the Yukon Territory, the Keno Hill deposits historically produced over 200 million ounces of silver between 1913-1989 exploration programs.
Silver North Resources is a silver explorer, focused on developing its claims across the Keno Hill District in Yukon, Canada.
Write to Maddison Elliott at Mining.com.au
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