en.Wedoany.com Reported - As the 2026 exploration season begins in the Yukon, multiple mining companies are advancing drilling, acquisition, and exploration projects. Silver North Resources Ltd. has announced the largest-ever exploration program for its Haldane silver project, spanning two years, during which two drill rigs will remain on site, supporting 10,000 to 14,000 meters of drilling, and initiating a SkyTEM airborne geophysical survey to optimize targets in the Main, West, Bighorn, Johnson, and Middlecoff zones.
Yukon Metals Corp. has launched a fully funded 5,000-meter drilling campaign at its AZ and Birch copper-gold projects; Selkirk Copper Mines Inc. reported results from the first phase of its 50,000-meter drilling program at the Minto mine; Gold Strike Resources announced a C$15 million bought deal financing and acquired additional project assets in the Tombstone gold belt; White Gold Corp. continues exploration activities in the White Gold region.
On the macro level, UBS strategist Joni Teves, citing World Gold Council data, stated that central banks and other official institutions purchased a net 244 tonnes of gold in the first quarter, up 3% year-over-year, exceeding market expectations. The report noted that despite geopolitical tensions, rising real interest rates, and a stronger U.S. dollar, official sector demand has not slowed. UBS also mentioned reserve changes reported by Turkey, suggesting that reserve data may be influenced by gold swaps, domestic liquidity operations, and commercial bank activities, and indicated that position fluctuations do not necessarily reflect long-term selling activity. The analysis further noted that official sector purchases provide long-term support by absorbing physical supply, and demand appears to be expanding beyond traditional major central bank buyers, with more sovereign institutions and reserve managers entering the market. GoldFix summarized this trend, stating that while the market had worried for months about who would sell gold, the data shows more institutions are still looking for reasons to buy.
European Central Bank research shows that gold has surpassed U.S. Treasuries to become the world's second-largest reserve asset, with central banks collectively holding over 36,000 tonnes of gold, bringing reserve stockpiles close to levels seen during the Bretton Woods era. Rocks Daily cited the study and noted that while the market had previously worried about who would sell gold, the data indicates more institutions are still seeking reasons to buy.
CNBC analyst Michael Khouw wrote on June 5 that gold is trading near its 200-day moving average while testing the 50% Fibonacci retracement level of its previous rally. He noted that the "higher for longer" interest rate environment poses headwinds for gold, as the metal generates no yield and competes with interest-bearing assets. Commodity analyst Patrick MontesDeOca, in a silver market commentary published on June 8, stated that silver futures follow a major 360-day cycle structure that began in September 2025, with the metal rising from $43.47 in September 2025 to $121.78 in January 2026, a gain of approximately 180%. Spot silver was quoted at $67.86 per ounce, with reports showing a 16.35% increase over the past six months and an 88.56% increase over the past eleven months.
John Newell of John Newell & Associates noted in a report published on February 23 that exploration activity in the Keno Hill silver district continues to attract attention, with the Main Fault target demonstrating the scale and complexity required to host high-grade mineralization. He stated that recently completed brokered financing has funded exploration for the next two years. Michael Ballanger added in an April 28 report that the SkyTEM312 airborne survey has been completed over the Haldane asset, and most of the company's 2026 activities will focus on Haldane.
Silver North Resources outlined exploration activities at its Haldane, Tim, and Veronica assets in the Yukon, stating that the 2025 plan aims to extend the Main Fault mineralization footprint to at least 100 meters of strike length and 300 meters of down-dip depth from surface, while the 2026 plan aims to expand the discovery along dip and strike. At the Tim asset, drilling identified the Wolf Fault as a priority target, confirming the presence of a carbonate replacement deposit system; at the Veronica asset, exploration expanded the Betty soil anomaly to over one kilometer by one kilometer, and identified silver-lead mineralization through prospecting and outcrop sampling.
Silver North Resources announced it has secured sufficient funding for the 2026 and 2027 exploration programs, with management and strategic investors holding 14.6% equity, the remainder held by retail investors. The company's market capitalization is approximately C$23.19 million, with a 52-week share price range of C$0.08 to C$0.57 per share.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
