Morning Briefing: Metals Jump, Selkirk Copper Grows MRE

Good morning and welcome back to the Mining Stock Daily morning briefing. I am Michael McCrae filling in for Trevor Hall.

It’s Thursday, July 30. 

It’s a mixed day. The S&P and Nasdaq futures are green, up 0.64% and 1.41% respectively. 

Strong earnings, notably Microsoft posting a record $90.01 billion in quarterly revenue, gave markets a boost. However, the industrial sector saw a significant drop, plunging 3.24% due to weak sector earnings, guidance cuts, and macroeconomic pressures.

Metals are having a good day. 

Gold is up 1% to $4,138. Copper is up 2.28% to $6.46 and oil is down 1.3% to 83.86. 

This episode of Mining Stock Daily is brought to you by Revival Gold. 

Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-dash-gold.com

Here’s what you need to know today. 

Selkirk Copper released an updated 2026 Mineral Resource Estimate showing a 182% increase in Measured & Indicated copper and 184% increase in M&I gold compared to the 2025 estimate. The new MRE establishes 47.8 million tonnes at 0.89% copper, 0.34 g/t gold, and 3.2 g/t silver, representing a 280% increase in M&I tonnage (TSXV: SCMI) . News Release

NGEx Minerals reported final assay results from four Phase 4 drill holes at its 100%-owned Lunahuasi copper-gold-silver project in San Juan, Argentina. Highlight intercepts include 546.30m at 1.19% CuEq and 20.50m at 17.83% CuEq, showing both exceptional width and bonanza-grade zones within the same system (TSX: NGEX). News Release

Rua Gold announced that its Auld Creek Project in the Reefton Goldfield, New Zealand has qualified for referral under the country's Fast Track Approvals Act 2024, which offers a 6-month approvals process (TSX: RUA) . News Release

1911 Gold released assay results from 30 drill holes (8,656 m) at its True North project in Manitoba, confirming extensions of gold mineralization at the SAM SE and Shore targets and identifying a new zone called the Baker target. Standout intercepts included 15.89 g/t Au over 2.70 m at SAM SE, 5.99 g/t Au over 4.90 m at Shore, and 36.44 g/t Au over 1.10 m (including 73.70 g/t over 0.50 m) at Baker, with mineralization traced over a 720 m strike length and to depths of nearly 975 m. Separately, 1911 Gold also closed a $35,650,000 bought deal financing on July 29, 2026, led by Haywood Securities with proceeds earmarked for exploration and development at True North, technical studies, and working capital (TSXV: AUMB) . News Release

Elemental Royalty Corporation, which holds an uncapped 2% NSR royalty on Capricorn Metals' Karlawinda Gold Project, noted Capricorn's report of a 32% increase in Probable Mineral Reserves to 76.4 million tonnes at 0.6 g/t gold (1.57 million ounces) and a 30% increase in Indicated Mineral Resources to 124.9 million tonnes at 0.6 g/t gold (2.38 million ounces). The reserve increase supports an extended roughly 10-year mine life at expanded processing capacity of about 6.5 million tonnes per annum, with anticipated annual production of approximately 150,000 ounces (NASDAQ: ELE) . News Release

Dryden Gold announced the discovery of two new gold-bearing structures at its Gold Rock project in Ontario: Elora 2, a high-grade zone between the Elora and Big Master systems with no surface expression, and Paymaster, a new intercept adjacent to the regional Manitou Dinorwic deformation zone. Since 2023, drilling has expanded the mineralized footprint from three structures and two high-grade zones to over fifteen structures and a dozen high-grade zones, with Paymaster extending strike length from 500m to 750m  (TSXV: DRY) . News Release

Meridian Mining announced that laboratory-scale smelting and converting tests at Kingston Process Metallurgy (Ontario) turned Cabaçal copper concentrate into high-quality blister copper grading 98.9% Cu, 95.2 g/t Au, and 387.6 g/t Ag, with impurity levels better than typical industry anode copper. The results confirm that Cabaçal's copper-gold-silver concentrates, from the project in Mato Grosso, Brazil, convert efficiently into premium blister copper under commercially representative smelting conditions. CEO Gilbert Clark said the results strengthen Meridian's negotiating position in ongoing off-take discussions as the Cabaçal DFS and project financing advance, positioning it as a highly marketable clean copper concentrate with strong precious metal credits (LSE: MNO) . News Release

Revival Gold closed the sale of its 51% interest in the non-core Diamond Mountain phosphate project to Canadian Phosphate Ltd., receiving an initial US$127,500 cash payment plus 3,081,286 Canadian Phosphate shares. The deal, alongside a similar sale of Utah Minerals Resources' 49% stake, lets Revival Gold monetize a non-core asset while it focuses on developing its Mercur Gold Project in Utah and Beartrack-Arnett Gold Project in Idaho (TSXV: RVG) . News Release

Surge Copper Corp. has filed its NI 43-101 Technical Report for the Berg Copper Project's Pre-Feasibility Study, prepared by Ausenco Engineering Canada and Moose Mountain Technical Services, providing the detailed technical basis behind the June 2026 PFS results and supporting the project's advancement toward feasibility-level engineering and environmental assessment (TSXV: SURG ) . News Release

Titiminas Silver's first modern exploration campaign at Janchiscocha, Peru confirmed high-grade molybdenum mineralization with underground and surface sampling returning up to 8.29% Mo, identifying multiple previously untested quartz-molybdenite veins across the Janchiscocha and Londres targets and a connecting ~1 km corridor. The results support the Company's interpretation of a district-scale quartz-molybdenite vein system spanning an approximately 4 km trend within Permo-Triassic granitic host rocks, rather than isolated historic occurrences (TSXV: TITI) . News Release

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That's it for today everyone. Have a great day. Stay safe.