Credit: Selkirk Copper MinesA resource update for Selkirk Copper Mines’ (TSXV: SCMI; US-OTC: SKRKF) Minto project in Yukon more than doubles contained red metal as the First Nation-owned company prepares to release a feasibility study and eventually restart the mine. The update outlines 47.8 million measured and indicated tonnes grading 0.89% copper, 0.34 gram gold per tonne and 3.2 grams silver for 940 million lb. The resource update comes almost two years after Yukon’s Supreme Court approved Selkirk First Nation’s purchase of Minto, a rare case of Indigenous ownership of a mine in Canada. Selkirk Copper shares gained almost 7% to $1.94 apiece on Thursday morning in Toronto, valuing the company at about $259.6 million. Inferred decreaseWhile the resource update converted a large amount of resources into the measured and indicated categories, the contained copper in the inferred category fell by 48% to 281 million lb.