Silver North Resources (TSX-V:SNAG) has increased its non-brokered private placement for up to C$2.25 million ($2.46 million) to fund exploration across the Haldane and GDR mineral properties in Canada.
As previously reported, the company intended to issue charity flow-through units at C$0.21 per unit, comprising one share and one-half of a warrant. The charity flow-through units will now be issued at C$0.35 per unit.
The offer is fully subscribed and is scheduled to close shortly.
Earlier this month, Silver North received assay results from two drillholes at the Haldane Project, which extended the main fault 50m southwest of the discovery section.
The results included 1.25m @ 1,261 grams per tonne silver, 0.74g/t gold, 0.35% lead, and 0.41% zinc from 179.5m.
Silver North Resources has primary assets in Yukon and British Columbia, Canada, with a focus on the wholly owned Haldane Silver project in Keno Hill.
On Tuesday (16 December), silver’s price slipped below US$63 per ounce, retreating from all-time highs as investors booked profits after a record rally that has seen the precious metal surge roughly 120% year-to-date.
Over the past month, silver’s price has jumped 26.89% and is up 108.82% compared to the same time last year, according to Trading Economics.
Write to Aaliyah Rogan at Mining.com.au
Images: Silver North Resources
