Selkirk Copper Reports Additional Results from the Phase 2 Drill Program Including High-Grade Mineralization at Minto North and Area 118
Selkirk reports high-grade Minto infill and Area 118 step-out results, with the positive pre-feasibility study remaining a key catalyst for the project.
Selkirk Copper Mines Inc. has released additional Phase 2 drill results from the Minto copper-gold-silver mine in Yukon. The company’s Phase 2 program has completed 45,299m of the planned 50,000m, representing approximately 90% of the total, and remains ahead of schedule.
Key intervals from the 21 holes covered in the release include:
- Minto North, hole 26SCM190: 33.2m @ 1.49% CuEq from 213.8m, including 9.0m @ 3.40% CuEq; the release separately highlights a narrow 1.93m @ 13.12% CuEq with 6.01% Cu, 8.77 g/t Au, and 36.6 g/t Ag.
- Minto North, hole 26SCM205: 13.3m @ 2.25% CuEq from 168.8m, including 3.7m @ 3.87% CuEq; also 4.7m @ 2.50% CuEq. The upper zone is interpreted as a possible offset continuation of the 202 Lens across a reverse fault.
- Area 118, hole 26SCM188: 23.0m @ 1.66% CuEq from 301.0m, including 6.0m @ 3.73% CuEq with 3.39% Cu, 0.61 g/t Au, and 16.5 g/t Ag. This is reported as a 50m step-out beyond previous drilling.
- Minto Main, hole 26SCM179: 12.7m @ 1.25% CuEq, a 30m western step-out on the 117 Lens.
- Minto Main infill: 26SCM184 returned 29.8m @ 1.05% CuEq; 26SCM189 returned 16.6m @ 0.86% CuEq; 26SCM195 returned 5.8m @ 1.05% CuEq.
- Copper Keel: seven of eight holes hit mineralization but grades were variable and lower than expected; best was 26SCM187 with 8.0m @ 1.67% CuEq, while 26SCM197 had no significant intercept.
The company states the Preliminary Economic Assessment (PEA) is now targeted for completion in Q3 2026.
Selkirk Copper Mines Inc. (SCMI) released additional Phase 2 infill and step-out drilling results from its already well-defined mine site, rather than providing a resource update, new discovery, or economic study. The company’s stock had previously risen from approximately C$0.18 in October 2025 to a high of C$2.10 in May 2026, trading at C$1.61 at the time of the release.
A major catalyst occurred on July 30, 2026, when the company updated its mineral resource estimate (MRE) to include 47.8 million tonnes in measured and indicated resources containing 940 million pounds of copper and 530,000 ounces of gold. Today’s drill results support the existing resource and indicate some expansion potential, but they do not materially change the size, grade, or restart thesis.
For the advanced development story, which trades at a market capitalization of roughly C$253 million with no current revenue, the prefeasibility study (PEA) in Q3 2026 remains the dominant value catalyst.
Selkirk Copper Mines Inc. owns the former Minto copper-gold-silver mine in central Yukon, Canada. The company controls approximately 26,850 hectares in the Minto-Carmacks copper belt and possesses a 4,100 t/d processing plant, a 400-person camp, water treatment facilities, and existing underground and open-pit infrastructure.
The project is a past-producing mine, with historical production from 2007 to 2023 totaling about 16.6 million tonnes at 1.74% Cu, 0.71 g/t Au, and 6.38 g/t Ag.
A mineral resource estimate dated June 10, 2026, reports the following: - Measured + Indicated: 47.8Mt at 0.89% Cu, 0.34 g/t Au, and 3.2 g/t Ag. - Inferred: 16.9Mt at 0.76% Cu, 0.26 g/t Au, and 2.7 g/t Ag.
The company completed 52,288m of Phase 1 drilling and is currently executing a 50,000m Phase 2 program. A Preliminary Economic Assessment (PEA) is targeted for Q3 2026, with a restart decision targeted for mid-2027.