Morning Briefing: Scorpio Gold Drills 2.05g/t Au over 97.99m at Manhattan

Good morning and welcome back to the Mining Stock Daily morning briefing. I am Trevor Hall.

It's Tuesday, July 14.

Metals are firming up this morning after Monday's pullback. Gold is up two-thirds of a percent to $4,028 an ounce. Silver is up 0.67% to $58.01. And copper is leading the complex, up 1.5% to $6.33 a pound. A recovery day across the board.

The big story in broader markets overnight is oil. Brent crude has pushed back through $80 a barrel and is up another 2% this morning. That's a level the market has been watching carefully — oil has poked above $80 a couple of times recently, but this move is looking increasingly durable.

And a notable equity story worth flagging for context: IBM shares are down more than 20% in pre-market trading after the company released preliminary second-quarter revenue of $17.2 billion — up 1% year-over-year but well short of analyst expectations of $17.86 billion. IBM's explanation tells a bigger story. It appears corporate budgets shifted from IBM software toward AI hardware — servers, storage, and memory — to lock in supply ahead of expected price increases. For metals investors, that's a relevant signal. AI data centers are among the most metals-intensive infrastructure buildouts happening anywhere in the global economy right now. The software miss is a hardware win — and hardware runs on metals.

We'll get to the news from the miners and explorers in just a moment, but first a word about today's sponsor.

This episode of Mining Stock Daily is brought to you by…Vizsla Silver.

Vizsla Silver is advancing the Panuco Silver-Gold Project in Sinaloa, Mexico — one of the largest and highest-grade undeveloped silver-gold systems in the Americas, in a district with a centuries-long history of high-grade precious metals production. The company has built a multi-million ounce resource through one of the most aggressive exploration programs in the silver sector and is advancing Panuco toward a development decision. Learn more at vizslasilver.ca.

Here's what you need to know today.

Mining Americas has reported preliminary Q2 2026 gold production of 8,137 ounces from its 100%-owned Pan mine in White Pine County, Nevada — on budget for the 2026 mine plan, bringing year-to-date production to 16,871 ounces. The key operational development in the quarter was the ramp-up of the new mining contractor to over 80,000 tonnes per day, up sharply from approximately 55,000 tonnes per day previously. With higher mining rates now established and additional waste stripping completed in Q2, the company is expecting production in the second half to be materially higher than the first half — full-year guidance unchanged at 32,000 to 38,000 ounces — while cash came in at $44 million as of June 30 (TSX: MAI, OTCQX: MAIFF).
News Release

Scorpio Gold has delivered the standout drill hole of the morning from its Phase Two program at Manhattan in Nevada's Walker Lane. Hole 26MN-110 returned 2.05 grams per tonne gold over 97.99 metres from 64.16 metres at the Goldwedge target — including 18.19 g/t Au over 3.17 metres, 11.41 g/t Au over 4.57 metres, and 8.98 g/t Au over 7.32 metres within that interval. With 102 holes and 28,939 metres now drilled in Phase Two and results in on 99 of them, the program continues to extend mineralization beyond the boundaries of the maiden inferred resource in multiple directions, with silver values from the historic district also now being captured for potential future inclusion in resource estimates (TSXV: SGN, OTCQB: SRCRF).
News Release

Mogotes Metals has landed a US$15 million strategic investment from Rio Tinto, with the mining major taking an initial approximately 5% interest in the company through a private placement priced at C$0.70 per unit. Alongside the investment comes a Strategic and Technical Alliance focused on Mogotes' Filo Sur project in the Vicuña district of Argentina and Chile, which gives the company access to Rio Tinto's proprietary geoscience tools, porphyry discovery expertise, and joint exploration efforts in one of the hottest copper-gold-silver belts on the planet. (TSXV: MOG, OTCQB: MOGMF).
News Release

Intrepid Metals has identified a new porphyry target — named the Curly Target — at its Corral Copper Project in Cochise County, Arizona. The target was developed through an integrated program of geological mapping, drill core review, and portable XRF analysis of hydrothermal fracture-fill material, revealing porphyry-proximal alteration, stockwork veining, QSP overprinting, and quartz B-veins hosting chalcopyrite and molybdenite — the kind of geochemical and structural fingerprint consistent with a porphyry copper-gold center at depth. An IP survey is scheduled for August and a dedicated 5,000-metre porphyry drill program follows in September. (TSXV: INTR, OTCQB: IMTCF).
News Release

Sierra Madre Gold and Silver has received its SEMARNAT permit — Mexico's federal environmental approval — to begin drilling in the East District of the Guitarra mine complex in Mexico State. The approval covers 22 drill pads, setting up the first phase of a fully budgeted 30,000-metre program that will test up to 30 mapped vein systems. A contractor selection is underway and drilling is expected to commence within 60 days (TSXV: SM, OTCQX: SMDRF).
News Release

Montage Gold is out with an exploration update on its Didievi project in central Côte d'Ivoire — positioning it as the company's next development asset after the flagship Koné mine, which remains on track for first gold pour through its oxide circuit in late Q4-2026. At Didievi, nearly 40,000 metres of drilling completed since the June 2025 inferred resource of 989,000 ounces at 2.5 g/t gold have delivered some high-grade extensions. A new 60,000-metre program with five rigs has been launched at a cost of US$13.5 million, targeting resource expansion and conversion toward indicated status, with ESIA permitting studies already underway (TSX: MAU, OTCQX: MAUTF).
News Release

And Auro Metals is out with a second batch of assay results from its Santa Barbara Gold-Copper Project in Ecuador. Following the company's earlier headline of 705.7 metres at 0.61 grams per tonne gold including 235 metres at 0.97 g/t gold starting from surface, this second batch adds another wide intercept: 625.12 metres at 0.64 grams per tonne gold and 0.10% copper. The consistent grade across broad widths continues to outline a large-scale, bulk-tonnage gold-copper. (TSXV: AURO, OTC Pink: AURFF).
News Release

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