(TheNewswire)
Vancouver, BC, July 3, 2024 – TheNewswire – Silver North Resources Ltd. (TSX-V: SNAG, OTCQB: TARSF) “ Silver North ” or the “ Company ”) is pleased to announcethat the 2024 drilling program at the Tim Property, under option toCoeur Mining, Inc. (“Coeur” NYSE-CDE) has commenced. Coeur isfunding and operating the program under an option agreement to earn upto an 80% interest in the property. Current plans are to completeapproximately 2,000 metres of drilling targeting silver-lead-zincCarbonate Replacement Deposit (CRD) mineralization similar to thatfound at Coeur’s Silvertip Mine Property, 19 km to the south of Tim.
Jason Weber, President and CEO of Silver North states, “We areexcited to see Coeur start the inaugural drill program at Tim. We arevery pleased to be working with their experienced team in our effortsto bring new silver discoveries to bearfor Silver North’s shareholders.”
Approximately 2,000 metres of drilling is planned from up to six drillpads, testing the potential for CRD-style mineralization along almost2,000 metres of strike length of prospective stratigraphy. Drillingwill target both structurally-hosted “chimney” stylemineralization and stratigraphically controlled “manto”mineralization. Previous work has identified silver mineralization intrenches dating back to the 1980s. Recent work by Coeur to verifyprevious sampling returned 468.1 g/tsilver, 21.1% lead, and 0.3% zinc over 4.0 metres from onere-opened trench. Another trench, located approximately 200 metresalong strike, returned 265.0 g/tsilver, 6.7% lead and 0.9% zinc over 8.8 metres . Silver Northviews the Tim as a high priority exploration target as it exhibitssimilar geological characteristics to Coeur’s Silvertip Project.
The 2024 program is conducted under the direction of Coeur’sexploration team based at Silvertip, under the terms of an optionagreement granting Coeur the right to earn a 51% interest in theproperty by completing a minimum of $3.15 million in additionalexploration expenditures and making additional cash payments to SilverNorth totalling $275,000 by December 31, 2026. Coeur can bring itsinterest to 80% by making additional cash payments of $100,000 peryear in 2027 and 2028, completing a positive feasibility study andinforming Silver North of its intention to develop a mine at Tim byDecember 16, 2028. Under this agreement, Coeur must fund a minimum$700,000 program in 2024. Tim is road accessible via 25 km of 4 x 4access off the Silvertip Mine Road.
About Silver North Resources Ltd.
Silver North’s primary assets are its 100% owned Haldane silverproject (next to Hecla Mining Inc.’s Keno Hill Mine project) and theTim silver project (under option to Coeur Mining, Inc.). SilverNorth also holds gold and base metal projects in Yukon Territory,Colorado and Nevada and is actively seeking partners for them. SilverNorth also plans to acquire additional silver properties in favourablejurisdictions.
The Company is listed on the TSX Venture Exchange under the symbol“SNAG”, trades on the OTCQB market in the United States under thesymbol “TARSF”, and under the symbol “I90” on the FrankfurtStock Exchange.
Mr. Jason Weber, P.Geo., President and CEO of Silver North ResourcesLtd. is a Qualified Person as defined by National Instrument 43-101.Mr. Weber supervised the preparation of the technical informationcontained in this release.
For further information,contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.silvernorthres.com
X: https://x.com/SilverNorthRes
LinkedIn:
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONSERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXVENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELYHISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'SFUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDEFORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ONNUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS ANDUNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS ARESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THEFORWARD-LOOKING STATEMENTS.
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