Silver is much more than gold’s little brother. While its respectable more than US$50 billion market is tiny in comparison to gold’s trillions, the precious metal benefits from use-cases that far surpass the utility of gold’s luster.
Notable examples include virtually every electronic device, as silver is the most effective electrical conductor on the planet, whether in your phone, television or the keyboard I am currently typing on.
Silver’s embedded nature across the industrial landscape, coupled with the upward tide from record gold prices and demand, has driven the price to a record of its own, adding more than 65 per cent year-over-year, currently trading for US$50 per ounce as of November 21, with the most extravagant predictions claiming a US$100 ounce is within sight.
Any commodity with a demand runway as secure as silver’s of course attracts companies to try their hand at generating leverage beyond the spot price – primarily through exploration, mine development or production – and behind them investors to put their money where their due diligence processes are in the hopes of robust returns.
In the latest edition of Stockhouse’s Weekly Market Movers, I’ll run through a pair of junior stocks for the seasoned silver bug, or anyone interested in becoming one, that demonstrate the exponential potential up for grabs in the upstream silver supply chain.
Silver North Resources
We’ll first delve into Silver North Resources, market capitalization C$19.57 million, a silver stock tracking a portfolio of primarily Yukon-based projects next to some of North America’s largest producers.
This article is disseminated in partnership with silver stocks Silver North Resources Ltd. and Kootenay Silver Inc. It is intended to inform investors and should not be taken as a recommendation or financial advice.
The company’s flagship project, the 8,164-hectare Haldane, is located 25 km west of and geologically similar to Hecla’s Keno Hill mine, which produced 2.8 million ounces of silver in 2024, representing more than US$140 million in revenue at the current spot price, and hosts more than 100 million ounces in resources and reserves. The broader Keno Hill district, for its part, has produced more than 220 million ounces of silver to date.
Haldane has revealed a number of high-grade targets over the past few years, including the Bighorn target in 2019 yielding 2.35 m averaging 125.7 g/t silver, the West fault discovery in 2020 yielding 3.14 m of 1,315 g/t silver, and the Main fault in 2024 delivering 1.83 m of 1,491 g/t silver equivalent, the latter being the current focus of ongoing 2025 drilling.
With clear potential to host numerous Keno-style deposits and a C$2.1 million capital raise closed in August, management is well-equipped to deliver positive news flow into the new year and continue fostering shareholder value.
Mark Brown, executive chair of Silver North Resources, joined Brieanna McCutcheon to contextualize initial results from Haldane’s 2025 drilling program. Watch the interview here.
Haldane is complemented by the Tim silver project, also in the Yukon, located only 19 km from and sharing geology with Coeur Mining’s Silvertip mine, which is estimated to host more than 70 million ounces of silver resources. Coeur holds an 80 per cent option on Tim contingent on bringing it to the feasibility stage.
Silver’s North’s nearby Veronica project, home to a recent discovery, is also of note, producing float cobbles on surface up to 2,860 g/t silver, 0.412 g/t gold, more than 1 per cent lead, 0.13 per cent copper, 0.22 per cent antimony and 0.18 per cent zinc.
Backed by a leadership team with a long history of funding and executing exploration campaigns in partnership with major miners, the company has done well to demonstrate its prospectivity to investors, translating high grades from both Tim and Haldane into substantial alpha above the silver price.
Silver North Resources stock (TSXV:SNAG) has added 188.89 per cent year-over-year, last trading at C$0.26.
Kootenay Silver
Second in our pair of silver stocks on the docket this week is Kootenay Silver, market capitalization C$112.85 million, an explorer in active pursuit of discoveries and bookable resources on one of the largest junior silver portfolios in all of Mexico. Here’s a breakdown of the company’s four main projects:
- The Columba project yielded a 2025 resource estimate of 54.1 million ounces of silver inferred, representing more than US$2.7 billion in the ground at the current spot price. A funded 50,000-m drilling program is ongoing across multiple mineralized veins.
- The La Cigarra property hosts an estimated 51.57 million ounces measured and indicated and 11 million ounces inferred. The resource remains open in all directions.
- Kootenay’s adjacent Promontorio and La Negra properties collectively add more than 85 million ounces in resources of their own, rounding off the company’s quartet of projects primed for development.
Despite providing investors with value-accretive developments over the past year, including high-grade drilling from Columbia in January and February, the project’s resource estimate in June, and numerous intercepts of significant width in November, highlighted by 101 m of 10 g/t silver, including anomalous gold of 0.18 g/t gold, Kootenay Silver stock (TSX:KTN) has trailed silver with a mere 26.67 per cent return year-over-year.
However, a founder-led leadership team with considerable precious metals experience – from exploration to financing to marketing to mine building – plus C$20 million in the bank as of June 2025, supports the thesis that a re-rating is becoming increasingly in play, as each new prospective intercept brings Kootenay’s billions in the ground closer to progressing across the mining lifecycle.
James McDonald, president and chief executive officer of Kootenay Silver, sat down with Ricki Lee to chat about the company’s drilling at Columba and what it suggests about future developments. Watch the interview here.
Thanks for reading! I’ll see you next week for a new edition of Weekly Market Movers, where I delve into companies that sat down with Stockhouse for an interview over the past week. Here’s last week’s article, in case you missed it.
Join the discussion: Find out what investors are saying about these silver stocks on the Silver North Resources Ltd. and Kootenay Silver Inc. Bullboards, and make sure to explore the rest of Stockhouse’s stock forums and message boards.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein.
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