Selkirk Copper Announces Initial Results from the Phase 2 Drill Program and Commencement of Technical Data Collection to Support Planned Feasibility Study
Selkirk infill drilling confirms high-grade continuity at the project, with PEA and resource updates serving as the primary catalysts.
Selkirk Copper Mines Inc. (SCMI) has released initial assay results from the first phase of its 50,000-metre drill program at the Minto Mine in the Yukon. The company has completed 27,300 metres across 104 holes to date.
Highlights from the drilling include:
- Minto East: Hole 26SCM178 – 4.28% CuEq / 5.9 m (incl. 2.33% Cu, 1.98 g/t Au, 22.3 g/t Ag / 4.3 m)
- Minto East: 26SCM176 – 3.53% CuEq / 1.9 m; 26SCM174 – 3.38% CuEq / 2.2 m
- Minto North: 26SCM183 – 2.59% CuEq / 4.5 m within broader 1.44% CuEq / 11.9 m
- Minto North: 26SCM186 – 0.51% CuEq / 37.5 m
- 117 Lens (Minto Main): 26SCM175 – 1.35% CuEq / 22.7 m (1.02% Cu, 0.35 g/t Au, 4.2 g/t Ag)
- Area 118: 26SCM181 – 0.69% CuEq / 29.1 m and 0.54% CuEq / 14.3 m
In addition to the drilling, Selkirk Copper Mines Inc. has commenced the collection of geotechnical, metallurgical, and structural data in support of a feasibility study targeted for mid-2027. The company reports that its updated 2026 Mineral Resource Estimate and Preliminary Economic Assessment (PEA) remain on track for release in July 2026.
Selkirk Copper Mines Inc. (SCMI) released the first batch of Phase 2 results, a development the market had already anticipated given the ongoing Phase 2 program and expectations for high grades based on Phase 1 bonanza intercepts. The release delivered solid but not transformational numbers.
The stock had previously rallied from $0.42 to $2.10 on the Phase 1 restart narrative before correcting to $1.54 pre-release, indicating heightened expectations. The current release lacks a standout discovery or a major step-out that would materially change the resource footprint.
For a junior with no revenue, these results are incrementally positive but do not alter the fundamental thesis. The real catalysts remain the upcoming resource update and PEA, which are due in July 2026.
Selkirk Copper Mines Inc. (TSX‑V: SCMI) is moving forward with plans to restart the Minto copper‑gold‑silver mine in central Yukon, a past‑producing asset acquired through a reverse takeover in 2025. The site features a 4,100 tpd mill, camp facilities, and extensive underground and open‑pit infrastructure.
As of April 2025, the company’s resource estimates include 334 Mlb Cu, 185 koz Au, and 1.7 moz Ag in the Indicated category, alongside 547 Mlb Cu, 295 koz Au, and 3.0 moz Ag in the Inferred category. Selkirk Copper Mines Inc. is targeting a Preliminary Economic Assessment for mid‑2026, with a potential restart decision slated for mid‑2027 and first production expected in mid‑2028.
Selkirk First Nation holds an approximately 18.2% stake in the company, and the legacy gold‑silver stream was extinguished during bankruptcy proceedings. The company reported approximately $28 M in cash at December 2025 and raised an additional approximately $35 M in April 2026.