Business
Silver North Announces $1.5 million Non-Brokered Private Placement
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About this update from Silver North Resources Ltd.
[{"type":"text","content":"Silver North Announces $1.5 million Non-Brokered Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Not for distribution to United\nStates Newswire Services or for dissemination in the United\nStates\n \n \n \n \n Vancouver, BC –\n \n \n TheNewswire -\n \n \n August 29, 2023\n \n –\n \n Silver North Resources Ltd.\n \n \n (TSXV:SNAG\n \n \n )\n \n \n (\n \n \n OTC:TARSF)\n \n “\n \n Silver North\n \n ” or the “\n \n Company\n \n ”) is pleased to announce a\nnon-brokered private placement of 2.5 million Units and 5 million\n“Flow-Through” Shares (the “FT Shares”) of the Company at a\nprice of C$0.20 per Unit and $0.20 per FT Share for gross proceeds to\nthe Company of up to $1.5 million (the “\n \n Offering\n \n ”).\n \n \n The Units will consist of one common share and one-half of a\nnon-transferable common share purchase warrant allowing the holder to\nbuy an addition share for each full warrant held for a period of three\nyears\n \n \n at $0.30 per additional share.\n \n \n The proceeds from the sale of the Flow-Through Shares will be spent on\nexploration (“Canadian Exploration Expenditures” as defined by the\nIncome Tax Act of Canada) at the Company’s Haldane Silver Project in\nthe Keno Hill District, Yukon.\n \n \n Previous drilling on the Haldane Silver Project recently discovered\nhigh-grade silver mineralization (including HLD20-19 which intersected\n \n 4.48 metres averaging 444 g/t silver,\n0.15 g/t gold, 1.5% Pb and 1.3% Zn\n \n and hole HLD21-24 which\nreturned\n \n 3.14 metres averaging 1,351\ng/t silver, 0.08 g/t gold, 2.43% Pb and 2.91% Zn\n \n ).\nMineralization at Haldane resembles that historically mined from Hecla\nMining’s Keno Hill District deposits in grade and style. Drilling in\n2023 will target the expansion of the West Fault target as well as\nother targets such as the Bighorn discovery, where the only drill hole\nto test this target discovered new Keno-style vein mineralization.\n \n \n Jason Weber, P.Geo., President and CEO of Silver North commented,\n“We are very pleased with the support from our shareholders and\ninvestors for our recent re-branding, and we are eager to advance the\nexploration programs at Haldane ...