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[Video Enhanced] Selkirk Copper has Four Drill Rigs Turning to Advance the Minto Mine Restart Plan

Selkirk Copper Rigs Up for Mid-Year PEA as CEO Doubles Down on Minto Restart

By The Northwire Desk — AI Analysis Mar 30, 2026 · 09:15 SCMI · 1.17 Selkirk Copper Mines Inc.
Executive Summary
  • Selkirk Copper announced on March 30, 2026, that four diamond drill rigs are active on the Minto Mine property, nearing completion of the 50,000-metre Phase 1 drill program.
  • Assay results confirm high-grade copper-gold-silver mineralization across four zones: Minto North (underground), Minto East (underground), Ridgetop (open-pit), and Area 118 (open-pit).
  • The company is integrating new assay data into updated NI 43-101 resource models and an integrated mine plan targeting a 12-15 year operational life.
  • A Preliminary Economic Assessment (PEA) is scheduled for release in mid-2026.
  • President & CEO Colin Joudrie disclosed a personal $1.5 million cash investment and the purchase of 1.7 million shares at $0.95-$0.98 per share in March 2026.
  • Management highlighted that a 2025 bankruptcy extinguished a historic gold-silver stream, freeing approximately 35% of ore value to the company, with current metal prices (Au $4,400/oz, Ag $70/oz) significantly boosting projected by-product revenue.
  • Low-cost operational upgrades (mill motors, power circuits, crushing circuit) are underway to target 4,100 t/d throughput.
  • Permit amendments are progressing with the Yukon government and the Selkirk First Nation, which holds a 22% equity stake.
Material Impact
  • The March 30 update is largely incremental and aligns with previously communicated timelines. The 50,000-metre drill program was already 97% complete as of March 25, and the mid-2026 PEA target has been reiterated since late 2025.
  • The CEO's $1.5 million investment and open-market purchases at $0.95-$0.98 provide a strong alignment signal, but insider buying at this stage is expected given his leadership role and the company's pre-production status.
  • The stream extinction benefit and operational upgrades are positive but were previously disclosed or represent standard pre-restart optimization. No new resource estimates, capex figures, or definitive metallurgical recovery rates were provided.
  • The market has already priced in significant restart optimism, with the stock advancing from $0.18 in October 2025 to $1.21. This release lacks a surprise catalyst to drive immediate multiple expansion.
  • Risk remains elevated due to the absence of a finalized PEA, unquantified restart capex, and ongoing cash burn. The news supports the existing thesis but does not materially alter the risk-reward profile.
SCMI · Price
Company Overview
  • Selkirk Copper Mines Inc. is a junior mining company focused exclusively on the restart and expansion of the Minto copper-gold-silver mine in the Yukon, Canada.
  • The flagship project encompasses 26,850 hectares of mineral claims within the Minto-Carmacks copper belt, including a former producing mine placed on care and maintenance in May 2023.
  • Existing infrastructure includes a 4,100 t/d processing plant, a 400-person camp, water treatment facilities, and extensive surface/underground development.
  • The company is pursuing a blended open-pit and underground mining strategy, targeting a 12-15 year mine life post-restart, with a formal restart decision targeted for early 2027.
Read the original news release →

More from Selkirk Copper Mines Inc.

Jul 30, 2026 · 07:01

Selkirk’s Minto mine-in-place resource jumps 182% in copper following Phase 1 results, with a preliminary economic assessment likely next.

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Selkirk infill drilling confirms high-grade continuity at the project, with PEA and resource updates serving as the primary catalysts.

Drill Results Jun 10, 2026 · 08:30

Selkirk Copper concludes Phase 1 drilling with high-grade hits ahead of the upcoming preliminary economic assessment for its project.

Drill Results Jun 04, 2026 · 06:05

Selkirk confirms high-grade continuity in its Phase 1 drill finale, while Phase 2 execution and the PEA timeline will test valuation.

Drill Results Jun 03, 2026 · 07:01

Selkirk’s Minto Project drilled high-grade intercepts, supporting mid-2027 restart ambitions and a phase two expansion.

Drill Results May 25, 2026 · 07:00

Selkirk Copper Closes First Nation Investment as Minto Restart Drilling Advances

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