Silver North Resources (TSX-V:SNAG) will receive up to C$30,000 ($33,704.98) in funding from the Yukon Mineral Exploration Program for its Veronica claims in the GDR Project, to begin exploration in July.
Funds will be allocated to a 2025 exploration program, which will investigate a multi-element soil anomaly previously identified with additional soil geochemical sampling, mapping, and prospecting.
Historical results of silver-lead-zinc mineralisation defined up to 31.1 parts per million silver, 3,100 parts per million lead, and 612 parts per million zinc, open to the east across an area of 450m by 450m.
Silver North, which has a market capitalisation of C$9.2 million, believes the mineralisation to be similar to Silvertip Mine, located roughly 16km to the southwest of the Veronica claims.
While the total of this exploration program is budgeted at roughly C$100,000, the company will be reimbursed for C$30,000 via the Yukon Mineral Exploration Program.
CEO Jason Weber says the company is grateful to participate in the Yukon Mineral Exploration Program again as it is an “excellent” initiative to boost early-stage programs in the area.
“The Veronica is an excellent candidate for the program, where this funding will help us identify a source and the context of an intriguing multi-element soil geochemical anomaly in this emerging Carbonate Replacement Deposit (CRD) district,” Weber says.
Located in the Silvertip-Midway District of southern Yukon, the GDR Project has a total of 150 claims and is proximal to the company’s Tim Silver Property, which is currently under option to Coeur Mining (NYSE:CDE).
Silver North Resources is a Canadian explorer, focused on the development of silver discoveries in the Keno Hill District in Yukon.
Write to Maddison Elliott at Mining.com.au
Images: Silver North Resources
