WHITEHORSE, YUKON : April 3, 2026 : The revitalization of the Yukon’s copper corridor has reached a critical juncture. Selkirk Copper, the partnership spearheading the restart of the storied Minto Mine, announced this week that its intensive four-rig diamond drilling program is nearing the finish line. With 97% of its 50,000-meter Phase 1 exploration complete, the company is now transitioning from discovery to the technical derisking required to bring the mine back into production by 2027.
The Minto Mine, located within the Selkirk First Nation Traditional Territory, was once a cornerstone of the Yukon’s mineral economy before its previous operator entered bankruptcy. Its return is not merely an industrial restart; it is a blueprint for a new era of Indigenous-led resource development. By combining the financial and technical backing of the Fiore Group with the controlling ownership of the Selkirk First Nation, Selkirk Copper is redefining the operational and ESG (Environmental, Social, and Governance) standards for the Canadian North.
Selkirk Copper: A New Paradigm in Indigenous Ownership
The acquisition of the Minto Mine in June 2025 marked a historic shift in the Canadian mining landscape. Unlike traditional benefit agreements where local communities act as stakeholders, the Selkirk First Nation (SFN) secured controlling interest in the project. This partnership with the Fiore Group, led by mining financier Frank Giustra, ensures that the mine’s economic lifespan is directly tethered to the long-term prosperity of the community.
“This is about economic sovereignty,” noted industry observers during the initial acquisition. For the Yukon, the Minto restart represents a stabilizing force in a territory where critical minerals are increasingly central to regional development. The project aligns with broader efforts to secure domestic supply chains, as highlighted in the 2026 Critical Minerals Scoreboard, where copper remains a “winner” due to its indispensable role in the energy transition.
The operational strategy is focused on a 12-to-15-year mine life, a significant extension from previous estimates. By prioritizing resource expansion before flipping the switch on the processing plant, Selkirk Copper aims to avoid the boom-and-bust cycles that plagued the site’s former management.
The 4-Rig Drilling Program: Results and Resource Expansion
Since August 2025, four diamond drill rigs have been operating around the clock to delineate new high-grade zones and confirm the continuity of known mineralization. As of late March 2026, the company has completed 48,751 meters across 164 drill holes.
The focus has been on three primary targets: Minto North, Minto East, and the Ridgetop/Area 118 zones. The results to date have exceeded initial expectations, suggesting that the Minto system is far more extensive than previously mapped.
Minto North: Extending the High-Grade Core
Minto North continues to be the “engine room” of the project’s high-grade potential. Recent intercepts have yielded 2.26% Copper and 2.23 g/t Gold, with the mineralization remaining open to both the north and south. This area is critical for the early years of the restart plan, as high-grade feed significantly improves the initial cash flow required to recoup capital expenditures.
Minto East and Ridgetop
Step-out drilling at Minto East has confirmed the existence of multiple stacked lenses. This “layer cake” geology allows for more flexible mine planning, as underground operations can access several ore bodies from a single decline. Meanwhile, at Ridgetop and Area 118, drilling is focused on expanding the existing open-pit configurations. The goal is to maximize near-surface resources to complement the deeper, high-grade underground ore.
Engineering a Modern Restart: Infrastructure and Capacity
One of Selkirk Copper’s greatest advantages is the massive “brownfield” infrastructure already in place. The site features a 4,100 tonne-per-day (tpd) processing plant, a fully equipped 400-person camp, and established water treatment facilities.
However, “restarting” does not mean “repeating.” The engineering team is currently integrating modern automated systems to optimize the 4,100 tpd throughput. The upcoming Preliminary Economic Assessment (PEA), scheduled for release in mid-2026, will detail the blending strategy for open-pit and underground ore. This hybrid approach is designed to stabilize mill head grades and ensure consistent production even during seasonal fluctuations common in the Yukon.
The company’s ability to secure $44.5 million in recent financing underscores investor confidence in this technical strategy. In a global market where the “China chokehold” on critical minerals is a constant concern: as discussed at the 2026 Critical Minerals Ministerial: projects like Minto provide a low-risk, Tier-1 jurisdiction alternative for copper, gold, and silver.
ESG as an Operational Foundation
For Selkirk Copper, ESG is not a compliance checklist; it is an operational mandate. Because the Selkirk First Nation is the majority owner, environmental stewardship is integrated into every drill hole and engineering decision.
A primary focus is the site’s water management system. The company has invested in upgrading water treatment facilities to ensure that all discharge exceeds federal and territorial standards. Furthermore, the 4-rig drilling program itself has been conducted with a “footprint-first” mentality, utilizing existing roads and disturbed areas to minimize the impact on the surrounding wilderness.
Economic development is the other side of the ESG coin. The project is already providing employment for SFN members and local contractors. As the mine moves toward its 2027 restart date, the company expects to create hundreds of long-term jobs, providing a stable economic base for the region for the next decade and a half.
The Road to 2027: Timeline and Key Risks
While the progress is substantial, several milestones remain before the first copper concentrate is shipped.
- PEA Completion (Mid-2026): This will be the first comprehensive look at the economics of the 12-15 year mine life. Investors will be looking for low C1 cash costs and a robust Internal Rate of Return (IRR) based on current copper prices.
- Environmental Permitting: While the site has existing permits, modifications will likely be required to account for the extended mine life and updated tailings management plans.
- Restart Decision (Early 2027): Following the completion of a Feasibility Study, the board will make the final call on the construction and commissioning timeline.
The risks are typical for northern operations: logistical challenges, seasonal weather windows, and the inherent volatility of the copper market. However, with the current copper supply deficit projected to widen through 2030, the macro environment for a restart has rarely been better.
Conclusion: A Blueprint for the Future
The Selkirk Copper story is more than a mine restart; it is a signal to the global mining industry that the Yukon is open for business under a more inclusive and sustainable model. By combining First Nation leadership with world-class technical expertise, the Minto Mine is poised to become a significant contributor to the global copper supply.
As the final rigs pull out of the Phase 1 program, the data they have collected will form the foundation of a decade-plus of production. For the Selkirk First Nation and the Fiore Group, the goal is clear: build a mine that respects the land, empowers the people, and delivers the essential metals the world needs for a greener future.
For more updates on regional mining developments and the global race for critical minerals, follow our deep dives into the Africa Lobito Corridor investments and the latest gold price forecasts for 2026.
Market Snapshot: Copper & Gold (April 3, 2026)
| Commodity | Current Price (USD) | 24h Change | 2026 YTD |
|---|---|---|---|
| Copper (lb) | $4.85 | +1.2% | +8.4% |
| Gold (oz) | $2,410 | -0.3% | +5.1% |
| Silver (oz) | $28.50 | +0.5% | +3.2% |
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