Silver North Resources (TSX-V:SNAG, OTCQB:TARSF) told investors it has completed the 2024 drilling program at its Tim Property.
A total of 2,252 metres were drilled across six holes during the drilling program, operated by Coeur Mining (NYSE:CDE).
Indications to date have indicated the presence of a Carbonate Replacement (CRD) style system at the site.
The drill is now being demobilized from Tim and moved to Silver North’s wholly-owned Haldane Property, in the historic Keno Hill Silver District, where the company’s technical team is currently on site.
“Coeur has exceeded expectations on every program they have conducted at Tim,” Silver North chief executive Jason Weber said.
“The late addition of two airborne geophysical surveys to augment this year’s drilling is an example of the big-picture approach they are taking at Tim to identify how it fits into the regional CRD setting.
“We eagerly await the receipt of analytical results this fall.”
Coeur Mining (NYSE:CDE) has the right to earn a 51% interest in the Tim Property by completing a minimum of $3.15 million in exploration expenditures and making additional cash payments to Silver North totaling $275,000 by the end of December 2026.
Later, Coeur can increase its interest to 80% by meeting further milestones, including completing a positive feasibility study and informing Silver North of its intention to develop a mine by December 2028.