Silver North Resources (TSXV: SNAG, OTCQB: TARSF) is a junior mineral exploration company focused on its 100%-owned, high-grade silver Haldane project in Canada's Yukon Territory, located in the historic Keno Hill Silver District directly adjacent to Hecla Mining's Keno Hill silver mine. The company also holds the contiguous Tim Carbonate Replacement Silver Project and the Veronica Carbonate Replacement Project in the Silvertip District spanning the Yukon–British Columbia border. Silver North is fully funded for its active 2026 and 2027 exploration and drilling campaigns.

In an interview with Richard (Rick) Mills, Editor of Ahead of the Herd (AOTH), CEO Jason Weber discussed the company's progress. Silver North is currently drilling with two rigs at Haldane, where it has made three discoveries in only 24 drill holes. The summer exploration programs at Tim and Veronica have wrapped up. Exploration at Haldane centers heavily on the Main Zone/Main Fault target, where recent programs returned wide intervals of high-grade silver and gold mineralization, including 2,014 g/t silver across 3.2 metres, along with anomalous gold (unusual for the Keno Hill district), lead, and zinc credits. Approximately 85% of the 2026 drilling effort is dedicated to stepping out and extending the Main Zone along strike and at depth, with additional drilling planned at the 2019 Bighorn discovery.

Defining Drill Results at the Main Zone

Weber highlighted hole 31 as arguably the best hole drilled on the property prior to this season: 13.15 metres of 818 grams per tonne silver, with 1.39 g/t gold plus lead and zinc. Of the 220 million ounces of silver produced in the district up until the 1990s, the average mine head grade was around 1,149 g/t silver, Weber noted, adding that this is the kind of grade the company is chasing.

Other 2025 results include hole 36 with just under 3 metres of 1,069 g/t silver; hole 30 with 2.5 metres of 1,088 g/t; 0.8 metre of 1,438 g/t; and a wider intercept of 7.95 metres of 365 g/t silver. Compared with what Hecla (NYSE: HL) mines next door — where anything over 300 g/t silver goes through the mill — Weber said 300 g/t over 3 metres is what Silver North classifies as a potentially economic drill intersection, a threshold met in essentially every hole drilled at the Main Zone to date.

Mills contextualized the results against history: Yukon Government MIN files released in 2003 recorded production statistics for 1913–1989 showing 4.87 million tonnes mined at an average grade of 1,389 g/t silver. Silver North's blind discovery at the West Fault ran 1,351 g/t silver, closely matching that historical grade. Hecla's modern operations in the district run at a reserve grade of roughly 700 g/t silver, which the 818 g/t over a 13.5-metre interval comfortably exceeds.

The Gold Advantage

While Keno Hill is traditionally a silver/lead/zinc camp, Silver North's Main Fault target frequently shows anomalous gold, with 1.39 g/t and 0.73 g/t intersections in the last campaign. Weber said the gold content has drawn interest from Hecla, whose own drilling shows spotty, less consistent gold. At the West Fault, the 1,351 g/t silver intersection carried 0.3–0.4 g/t gold. Within hole 31, a 60 cm interval returned 2,860 g/t silver with 4 g/t gold; hole 36 contained a 40 cm interval of 3,370 g/t silver with 6 g/t gold.

Gold recovery in these systems is not yet known, Weber cautioned, but even recovering 0.7–0.8 g/t converts to a significant amount of silver equivalent value. Thin-section mineralogy work is planned this year to determine whether the gold is localized. Any continuation of plus-800 g/t silver would, in his words, drastically raise Haldane's market visibility.

Weber also pointed to silver price effects on district economics. With silver trading in the $60s — versus the roughly $30 per ounce range Keno Hill was likely modeled on — Hecla has been clearing about $30 million in free cash from the mine over recent quarters while milling about 2,400 tonnes of material; in Q1 it did the same while mining 800 tonnes, about a third of previous tonnage. Hecla's average realized silver price was about $84 per ounce in Q1 2026 versus roughly $55 in Q4 2025 and $35 in Q2 2025. Weber said he does not see silver returning to the $20–$30 range in the near future, though he acknowledged results are not always 800 g/t, which is why anything over 300 g/t plays favorably.

Program Update and Bighorn

Silver North is currently on its 16th and 17th holes at Haldane, at about 3,800 metres drilled. The final program is expected to total around 5,000 metres in 21–22 holes, depending on whether shorter holes or longer, deeper targets are drilled at the end. One rig has been drilling the last few holes at Bighorn while the other maintains position on the Main Fault, allowing the company to assess Bighorn without sacrificing much Main Zone progress.

Bighorn sits about three kilometres from the Mount Haldane Vein System, which hosts the West Fault, Main Fault, Middlecoff targets and the historic Johnson target. Groundwork up to 2019 identified a soil geochemical anomaly with some of the project's highest soil numbers — over 1% lead and just over 60 g/t silver from a soil sample. Bedrock exposure is limited, with the structure expressed as a small valley in the hillside. The single 2019 hole hit four zones of silver mineralization with more quartz than typical at Haldane, though still containing siderite, the go-to indicator of Keno-style veins. The best intersection, 125 g/t silver over 2.35 metres, was initially disappointing, but Hecla personnel have shown that such veins transition from narrow sub-economic mineralization to economic grades over relatively short distances — within 50 to 100 metres — and were adamant that Bighorn was a discovery. Silver North plans at least three, possibly four, follow-up holes to vector toward potentially economic intersections. Weber noted the target opens up the project's potential to host mineralization the old-timers could not have found.

Assay Delays and the New Camp

Core from early holes was sent to ALS labs; the first batch was logged into the system about three weeks ago, significantly longer than anticipated. With at least four weeks of prep plus a week or more of analysis, first results are expected mid-to-late September, and Weber was unsure assays would be back in time for a mid-September release. Mills noted that CEOs of three other Yukon-operating companies report the same slow lab turnaround.

This year Silver North operates from its own new Haldane camp after neighbor Banyan Gold (TSXV: BYN), which had housed the crew in recent years and provided bulk fuel cost savings, expanded its program and no longer had space. The new camp places the team 15 minutes from the drills, improves safety with a 24-hour first aid attendant on site, and eliminates the roughly one-hour drive each way that caused fatigue over a four-to-five-month program. Archer, Cathro and Associates and Kagani Catering set up camp and catering on short notice.

Orogen Royalty and the Team

Orogen Royalties (TSXV: OGN) purchased a royalty on the project at an exploration stage — only the second such purchase in its history — which Weber called a strong endorsement. He has known Orogen's chief Paddy Nichol since spinning Orogen's predecessor, Evrim, out of Kiska Metals as a project generator, and said Orogen is comfortable with the team's technical ability to maximize exploration dollars.

Weber credited VP of Exploration Rob Duncan, a geologist he has worked with on and off for 20 years, for balancing science and practicality. Board members include Marc Blyth (CEO, AU Gold, TSXV: AUGC), a mining engineer who has built mines; chairman Mark Brown, who built Rare Element Resources from pennies a share to $15 on the NYSE AMEX during the first rare element boom and calls such companies "10-year overnight successes"; plus Nancy Curry and Craig Lindsay, both experienced in junior markets. Field crews come from Smithers-based Hardline Exploration, providing three years of continuity. Asked what excites him most, Weber pointed to marrying this year's drilling with newly collected geophysics and ground-truthing data over the winter.

Tim and Veronica Carbonate Replacement Projects

In May, Coeur Mining (NYSE, TSX: CDE) terminated its option agreement on the Tim property, returning 100% ownership to Silver North. Weber said Coeur would likely still be involved had one of its six holes hit massive sulfides, but more vectoring work is needed toward the productive part of the CR system at Tim, and Coeur is focusing on its Silvertip deposit as it works toward restarting that mine. The Coeur-funded work — SkyTem, magnetics, radio metrics and mobile MT geophysical surveys, property-wide geochemical sampling and mapping, and a 2,250-metre, six-hole drill program, roughly $1.6 million in data — confirmed a carbonate replacement-style system matching the geological signature of Coeur's Silvertip mine 19 km away. Silver North retained the project and data without diluting its share structure; Mills characterized the exit as a corporate-level capital pivot, not a result of poor drilling.

This year's just-completed ground program at Veronica — mapping, prospecting and over 800 (850 new) soil samples — aims to bring it to a similar data level as Tim so the two adjacent properties can be treated as one project, widening the stratigraphic breadth that could host mineralization. CRD mineralization relies on correct stratigraphic horizons, making outcrop mapping important where exposure is limited.

At the road-accessible Veronica property, the Betty target saw a soil anomaly expanded from 450 by 450 metres to 1,000 by 1,000 metres, still open to the east and south. Weber cautioned that the ultra high-grade float — including the Lodge showing at 2,860 g/t silver and 76.8% lead — consists of fist-sized cobbles not necessarily representative of underlying mineralization. Galena lead mineralization, he has noted, is an important component of carbonate replacement mineralization in the Silvertip District. A nearby mineralized structure ran a couple ounces of silver in limited outcrop, but hand trenching could not reach bedrock, and that structure alone cannot explain the full kilometer-by-kilometer multi-element anomaly, suggesting additional sources. The Cooper showing, in-situ bedrock, is interpreted as a probable chimney — the feeder part of the system — though additional structures or a manto may also account for the geochemistry. A comprehensive 253-line-kilometer airborne VTEM and magnetic survey was completed; geochemical results are expected around November, with geophysical results tied to the geochemistry and released only after the datasets are compiled and analyzed.

The Investment Case and Go-Forward Plan

Asked why investors would consider Silver North, Weber said silver is the right commodity — recognized as both a monetary asset and a significant industrial metal used across technology, energy and medical applications, "the metal of 10,000 uses." Coeur and Hecla, two of North America's biggest silver producers, dominate the two districts where Silver North explores, which he sees as validation. With three new discoveries at Haldane in a 100-year-old exploration district plus the confirmed CR system at Tim and high-grade float at Veronica, Weber said the company has the potential to define silver resources in the tens of millions of ounces at Haldane, though exploration remains risky.

Going forward, rather than spending money on a mineral resource estimate for a single target, Weber wants to build out multiple targets to the point where Hecla, Coeur or other silver companies can make their own judgments — the catalyst, in his view, for acquisition interest in the project or the company. That approach is consistent with how the junior exploration sector generally works: explorers that lack the capital to build mines themselves typically advance projects until a major producer acquires them, making proximity to established operators like Hecla's Keno Hill mill a key strategic asset. Consolidation of both the Keno and Silvertip districts is, in his view, the healthiest outcome, positioning Silver North as either a stand-alone acquisition or a reserve replacement acquisition for the neighboring miners.

Silver North Resources (TSXV: SNAG, OTCQB: TARSF) traded at Cdn$0.26 as of September 2, 2026, with 108 million shares outstanding and a market capitalization of Cdn$28 million. Company website:

The original interview was conducted by Richard (Rick) Mills and published on SilverSeek (https://silverseek.com/article/under-spotlight-under-spotlight-jason-weber-ceo-silver-north-tsxv-snag) and aheadoftheherd.com.