01:17 PM EDT, 09/03/2025 (MT Newswires) -- Yukon Metals ( YMMCF ) was last seen up 23% after the company on Wednesday said exploration drilling at its 7,000-hectare Birch property in the Yukon intersected skarns it thinks may host gold and copper deposits.

The drilling is testing skarn horizons that could be linked to a 1.4-kilometer gold-copper soil anomaly. The anomaly previously returned grades up to 0.99 grams per tonne of gold and 0.24% copper, alongside surface rock samples of 14.1 g/t gold and 2.42% copper.

The company has completed 1,100 meters of diamond drilling across three pads to depths of 400 meters, with all holes cutting mineralized skarn horizons. Mineralization was observed as shallow as 25 meters, with intervals in drill core reaching widths of up to 46 meters. Management said the results point to a potentially large, multistage skarn system developed along marble-schist contacts and intrusive margins. Assays on the cores are pending.

"Multiple zones of mineralization have been encountered from near surface and substantially at depth. These early results suggest the Birch system has both scale and continuity, and we look forward to receiving assays to help guide the next steps of exploration," said chief executive Rory Quinn.

Yukon Metals ( YMMCF ) were last seen up $0.15 to $0.80 on the Canadian Securities Exchange.

Price: 0.80, Change: +0.15, Percent Change: +23.08