Silver North Resources (TSX-V:SNAG) is set to raise an additional C$500,000 after securing C$2.1 million from a non-brokered private placement. The funds will expedite exploration at the Haldane and GDR Projects in Yukon, Canada. Silver North Resources is a Canadian exploration company focused on developing its silver prospects in the Keno Hill District in Yukon. The company aims to create value through discovery, acquisition, and responsible development of high-quality mineral properties.
The company will issue flow-through units at C$0.21 each, comprising one share and half a warrant. Warrants will be issued on a non-flow-through basis, allowing the holder to purchase one common share at C$0.35 for 48 months from the flow-through unit issue date. The additional placement aims to raise C$500,000, with each HD unit issued at C$0.15, mirroring the offerings of the prior flow-through units.
Silver North intends to follow up on the Veronica claims within the GDR Project with a prospecting, sampling, and mapping program. This initiative will further investigate a multi-element soil geochemical anomaly, potentially indicating silver-lead-zinc mineralisation.
As previously reported, Silver North is eligible for up to C$30,000 in funding from the Yukon Mineral Exploration Program to support its investigations.
