Silver North Resources (TSX-V:SNAG) is raising a further C$500,000 ($559,452) after attaining $2.1 million from the completion of its non-brokered private placement to fasttrack exploration at the Haldane and GDR Projects in Yukon, Canada.
The company will issue flow-through units at a price of C$0.21 per unit, comprising one share and half of one warrant.
Warrants will be issued on a non-flow-through basis, deeming the holder eligible to purchase one common share at a price of C$0.35 for 48 months from the date of issue of the flow-through unit.
Silver North is now running another placement to raise an additional C$500,000. Each HD unit will be issued at C$0.15 per unit, comprising the same offerings as the prior flow-through units.
The company intends to follow up the Veronica claims within the GDR Project with a prospecting, sampling, and mapping program to follow up a multi-element soil geochemical anomaly.
As previously reported by Mining.com.au, Silver North is eligible to receive up to C$30,000 in funding from the Yukon Mineral Exploration Program to investigate what potentially indicates silver-lead-zinc mineralisation.
Silver North Resources is a Canadian explorer focused on developing its silver prospects in the Keno Hill District in Yukon.
Write to Maddison Elliott at Mining.com.au
Images: Silver North Resources
