Update almost triples contained metal at Selkirk Copper’s Minto mine

AI desk brief

Selkirk Copper’s Minto resource update materially lifts contained precious metals alongside copper, with measured and indicated inventory now at 530,000 oz gold and about 4.8 million oz silver, versus a 181% rise in contained copper to 940 million lb. The company says the larger M&I base should underpin a feasibility study due in Q3 and reduce reliance on inferred material as it works toward a possible 2028 restart of the Yukon mine.

The update came from stage-one drilling plus historical work across 428,388 metres and 1,956 holes. While the broader resource is more robust, grades fell as lower-grade tonnes were added: copper grade slipped to 0.89%, while inferred copper dropped 48% to 281 million lb. Management says the upgrade improves the quality of mineable lenses and could support better mine plans in the feasibility study.

For precious metals, the note is more supply-side than price-sensitive: it highlights incremental future gold and silver output potential from a Canadian polymetallic restart, but no near-term bullion market impact. Selkirk shares rose almost 7% on the day, reflecting equity re-rating more than any immediate shift in XAU/XAG fundamentals.