Selkirk Copper Mines announced the discovery of a new mineralized zone, the 117 Lens, beneath a previously mined open pit.
Canada, 14th May 2026 – Global Stocks News – Sponsored content disseminated on behalf of Selkirk Copper Mines. On May 11, 2026 Selkirk Copper Mines (TSXV: SCMI) (FSE: IO20) (OTCQB: SKRKF) announced the discovery of a new mineralized zone, the 117 Lens, beneath a previously mined open pit.
In June 2025, Selkirk First Nation (SFN) purchased the former Minto Mine out of bankruptcy, then partnered with the Frank Giustra-backed Fiore Group to form Selkirk Copper Mines.
SCMI is derisking the Minto Mine through exploration, resource expansion, engineering, and mine planning, with the goal of establishing a 12-15-year mine life prior to production restart.
The initial May 11, 2026 results from the 117 Lens indicate broad zones of copper-gold-silver mineralization, including 1.27% Cu, 0.89 g/t Au, and 5.91 g/t Ag (1.98% CuEq) over 12.6 m, within a broader interval of 0.41% Cu, 0.38 g/t Au, and 3.92 g/t Ag (0.58% CuEq) over 86.8 meters, from 244.2 m in 26SCM126.
“Copper is trading at an all-time high of US$6.44/lb and could go a lot higher as the effects of a supply squeeze and the Iran war are supercharged by stockpiling and mine closures,” reports Forbes on May 11, 2026.
With gold trading at about US$4,650 per ounce, the .89 g/t gold reported from the 117 Lens may positively impact Selkirk Copper’s future bottom line. Additional drilling is planned to develop a better understanding of this mineralized zone.
The green energy transformation creates copper demand. Money printing, government debt and the de-dollarization of the global economy creates gold demand.
“The 0.40 g/t gap between the average grade of currently producing gold mines and the global undeveloped deposit pipeline is one of the most consequential structural trends in the gold mining sector,” reports Discovery Alert. “It is not simply a geological observation; it is a forward-looking cost signal.”
In 2007, a gold and silver stream was sold to finance the construction of the Minto Mine, now controlled by Selkirk. The 2025 bankruptcy process extinguished that long-standing gold-and-silver stream.
The revenue from the sale of precious metals will now go directly to the operator.
“We gained some advantages from the bankruptcy,” Colin Joudrie, Selkirk President & CEO, confirmed to Guy Bennett, the CEO of Global Stocks News (GSN). “We have removed the gold and silver stream that sat astride this asset all the way back to 2007.”
“Minto is not a by-product copper, gold, silver mine,” added Joudrie. “This is a co-product mine. About 65% of the projected revenue is from copper, 35% from gold and silver. In this rising precious metal price environment, the removal of the stream is a game-changer for the asset.”
In the May 12, 2026 Crux Investor interview below, Joudrie talks about the 85 mineralized lenses at the Minto project.
“Grade is king,” confirmed Joudrie in the Crux Investor interview, “It’s a very important fundamental element of our industry. It doesn’t solve all the world’s problems, but it solves a lot of them. The primary ore bodies that make up this deposit are unique. This is a series of lenses that have been structurally disrupted.”
“They consist of chalcopyrite and bornite,” continued Joudrie. “There are no other sulphides. There’s almost no pyrite in this system. Getting 10-15 meter intervals of 6-10% copper – that is not just rare, it’s almost unique.”
“Understanding that, and how it can come out of the ground, is obviously the challenge and the opportunity. In this central zone, there are over 85 lenses that we’re advancing right now. Each one has the same basic description. The ore bodies themselves are quite straight forward. They’re mineable. The recoveries here are exceptionally high, 91% copper recovery over the life of mine.”
“Most major mining operations today are massive infrastructure undertakings, where you are building ports, roads, power lines and power plants. We don’t have to do that. When you’re thinking about how to make money, the best way to do that it is not to spend money on the stuff that doesn’t make money.”
“We don’t have to build a power line,” added Joudrie. “We don’t have to build a road. We don’t have to build an above-ground facility. Over $330 million has been spent on the above-ground infrastructure, a processing plant, and all the ancillary support buildings needed for a modern mine. That is a recipe for success.”
Drilling at Minto East continues to intersect multiple lenses of high-grade mineralization including 2.36% Cu, 0.85 g/t Au and 5.44 g/t Ag (3.04% CuEq) over 5.8 m, from 241.7 m, and a second mineralized intercept of 2.57% Cu, 0.66 g/t Au and 7.66 g/t Ag (3.13% CuEq) over 9.1 m, from 476 min 26SCM128.
Assay results have been released for approximately 78% of the Phase 1 drill program, with the remaining results expected to be released over the next month.
As of May 1, Selkirk Copper has begun its Phase 2 drill program, targeting up to an additional 50,000 metres to be completed during 2026.
“With the updated Mineral Resource Estimate and Preliminary Economic Assessment on track for completion in mid-2026, we are looking ahead towards additional requirements that will support a potential restart decision in mid-2027,” stated Joudrie in the May 11, 2026 press release. [1]
“The Phase 2 drill program will continue to focus on resource expansion while also prioritizing important geoscience and technical data collection that will support the restart decision.”
“The drilling continues to deliver positive results, including the discovery of new mineralized zones located near existing resource areas and adjacent to underground mine infrastructure and potential open pit locations.”
“These results highlight that there is still significant discovery potential in the near-mine environment and support our view that our commitment to exploration drilling will continue to deliver meaningful positive results”.
Below: Cross-section looking east, showing the recently discovered 117 Lens located beneath the Area 2 open pit and between two areas of previous underground mining.
Technical aspects of this news release have also been reviewed, verified and approved by Leif Bailey, P.Geo., Director of Geoscience & Exploration of Selkirk Copper Mines Inc., who is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
References
1 See 2025-08-06 Technical Report “NI 43-101 2025 Mineral Resource Estimate Update for the Minto Property, Yukon, Canada” effective date 2025-04-07 filed by Venerable Ventures Ltd., available on SEDAR+ (sedarplus.ca).
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