Northwire Canada EditionFriday, July 10, 2026
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TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
Drill Results Routine +

Rigs Are Turning on a 5,000-Metre Expedition for Yukon Copper-Gold

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

By The Northwire Desk — AI Analysis Jun 04, 2026 · 06:05 SCMI · 1.88 Selkirk Copper Mines Inc.
Executive Summary
  • Selkirk Copper Mines released the final assay results from its Phase 1 drill program (August 2025–April 2026), confirming high-grade copper-gold-silver intersections across five primary target areas at the Minto Mine.
  • The company has commenced its Phase 2 drill program, targeting 50,000 metres, with 14,000 metres completed by June 1, 2026.
  • Drill productivity averaged 120 metres per day per rig, exceeding Phase 1 performance, with four rigs actively operating.
  • Results are being integrated into an updated Mineral Resource Estimate and a Preliminary Economic Assessment (PEA) targeted for mid-2026.
  • The release reiterates the strategic removal of the historic gold-silver stream, which now allows ~35% of ore value to flow directly to the company.
  • Peer activity in the Yukon (e.g., Yukon Metals, Gold Strike, White Gold) highlights a broader regional exploration cycle, but Selkirk's focus remains on the Minto restart.
Material Impact
  • The Phase 1 results were largely anticipated given the program's scope and prior interim releases. The news confirms continuity and high-grade lenses but does not introduce a paradigm-shifting discovery.
  • The commencement of Phase 2 is a routine operational follow-up, aligning with previously communicated timelines.
  • The market has already priced in the stream extinction and the high-grade nature of the deposit based on prior drill releases and the C$35 million financing in April 2026.
  • No material surprise or deviation from expectations. The news reinforces the restart thesis but lacks the catalyst intensity required for a material re-rating at this stage.
SCMI · Price
Company Overview
  • Selkirk Copper Mines controls the Minto copper-gold-silver mine in central Yukon, acquired via a reverse takeover in October 2025.
  • The project features existing infrastructure valued at over C$330 million, including a 4,100 tpd processing plant, a 400-person camp, power lines, and road/barge access.
  • The company aims for a 12–15 year mine life restart, targeting a blended open-pit and underground mining operation.
  • Mineral resources total 12.6 million tonnes indicated and 23.7 million tonnes inferred, averaging 1.20% Cu, 0.46 g/t Au, and 4.3 g/t Ag.
  • The strategic removal of a legacy US$250 million gold-silver stream significantly improves future project economics by freeing ~35% of ore value.
Read the original news release →

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New lens discovery and immediate 50,000 m Phase 2 drill program keep Minto’s restart story advancing, but the real catalyst remains the PEA due mid‑year.

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