Northwire Canada EditionWednesday, November 4, 2026
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Gold 3,940.40 −0.7% Silver 49.75 −2.2% Copper 6.41 −2.4% Oil 96.76 +0.3% Palladium 930.00 −4.0% MSA 8.73 +1.2% GGL 0.145 +0.0% MAU 14.45 +0.3% EMO 0.220 +0.0% EOX 0.060 +0.0% PMET 2.99 −2.3% SVM 11.14 −2.5% NUAG 6.82 +0.1% STGO 1.35 +1.5% TFPM 39.56 −2.0% REE 0.030 +0.0% PNTR 0.330 +0.0% SSRM 36.56 −2.4% NGEX 20.85 +2.9% DML 2.96 −0.3% DOS 0.020 +0.0% Gold 3,940.40 −0.7% Silver 49.75 −2.2% Copper 6.41 −2.4% Oil 96.76 +0.3% Palladium 930.00 −4.0% MSA 8.73 +1.2% GGL 0.145 +0.0% MAU 14.45 +0.3% EMO 0.220 +0.0% EOX 0.060 +0.0% PMET 2.99 −2.3% SVM 11.14 −2.5% NUAG 6.82 +0.1% STGO 1.35 +1.5% TFPM 39.56 −2.0% REE 0.030 +0.0% PNTR 0.330 +0.0% SSRM 36.56 −2.4% NGEX 20.85 +2.9% DML 2.96 −0.3% DOS 0.020 +0.0%
Drill Results Routine +

Selkirk Copper's Final Phase 1 Drill Program Results Deliver High-Grade Mineralization Intersected Across Five Target Areas, and Rapid Progress on the Phase 2 Drill Program

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

By The Northwire Desk — AI Analysis Jun 03, 2026 · 07:01 SCMI · 2.05 Selkirk Copper Mines Inc.
Executive Summary
  • Selkirk Copper Mines released the final assay results from its Phase 1 drill program (August 2025–April 2026) at the Minto Project, confirming high-grade copper-gold-silver intersections across five primary target areas.
  • Notable intercepts include 4.39% Cu, 7.60 g/t Au, 21.07 g/t Ag (10.22% CuEq) over 4.1 m in Area 118, and 3.77% Cu, 6.74 g/t Au, 23.68 g/t Ag (8.99% CuEq) over 3.8 m at Minto East (>550m depth).
  • The company has initiated a 50,000-metre Phase 2 drill program, with 14,000 metres completed in 59 holes by June 1, 2026 (28% complete).
  • Drill productivity has improved to 120 metres per day per rig, up from 94 metres in Phase 1, utilizing four active rigs.
  • Results are being integrated into an updated Mineral Resource Estimate and Preliminary Economic Assessment (PEA), targeting mid-2026 completion to support a feasibility study and mine restart planning.
  • Marketing agreements with Capital Analytica and Native Ads have been renewed/amended for ongoing investor relations and digital outreach.
Material Impact
  • The Phase 1 results are consistent with and build upon previous high-grade announcements from March, April, and May 2026. They confirm the continuity and depth of the mineralized system but do not present a fundamentally new discovery or unexpected geological shift.
  • The progress on Phase 2 drilling and improved daily productivity are operational milestones that align with management's stated timeline for resource expansion and PEA completion.
  • The news validates the company's restart thesis and supports the mid-2027 decision target, but it is an expected, incremental step in a well-publicized exploration campaign.
  • No new strategic partnerships, major capital raises, or regulatory breakthroughs are announced. The market has already priced in the removal of the legacy gold/silver stream and the acquisition of the mine.
  • Consequently, the impact is positive but routine, serving as confirmation rather than a catalyst for a re-rating.
SCMI · Price
Company Overview
  • Selkirk Copper Mines Inc. (formerly Venerable Ventures Ltd.) completed a reverse takeover in October 2025, acquiring a 100% interest in the former Minto copper-gold-silver mine in central Yukon.
  • Flagship Project: Minto Mine, located ~250 km north of Whitehorse on the Klondike Highway.
  • The project features existing infrastructure valued at over $330M, including a 4,100 tpd processing plant, roads, power lines, water treatment facilities, and a 400-person camp.
  • Strategy: Restart the mine targeting a 12-15 year mine life, utilizing a blended open-pit and underground mining plan.
  • The company successfully extinguished a historic $250M gold-silver stream and concentrate off-take agreement, allowing 100% of precious metal revenue to flow to the operator.
  • Targeted timeline: PEA mid-2026, Feasibility Study mid-2027, construction decision H2 2027, first production mid-2028.
Read the original news release →

More from Selkirk Copper Mines Inc.

Oct 21, 2026 · 08:32

Selkirk released a paid recap of previously published assay results, providing no new geological data or updated resource estimates for its projects.

Technical Study Oct 15, 2026 · 07:01

Selkirk’s infill drilling at the Selkirk deposit returned a best grade-width hole of 12.4 g/t over 1.5 metres within the known resource.

Drill Results Sep 29, 2026 · 07:01

Selkirk’s infill drilling at the Selkirk deposit revealed a high-grade 99th-percentile hole, confirming robust mineralisation without changing total tonnes.

Drill Results Sep 22, 2026 · 07:01

Selkirk’s preliminary economic assessment delivers a C$494 million net present value at planning prices for its project.

Resource Estimate Sep 14, 2026 · 23:36

Selkirk’s NI 43-101 filing confirms the July MRE with no material changes to the Minto resource.

Resource Estimate Aug 25, 2026 · 08:30

Selkirk reports 280% resource growth at Minto and advances an Alaska port study to support project development.

Drill Results