Mining Press Roundup: Copper Explorers Deliver High-Grade Hits as Iron Ore Rallies on Strike Threat

Mogotes Metals reported 180 metres of high-grade copper-gold-silver-molybdenum mineralization at its Albor target , expanding a discovery that positions the junior explorer as a potential new supplier in Argentina's prolific Vicuña district. The announcement caps a successful first drill season for the company at its Filo Sur project, located immediately south of BHP and Lundin Mining's massive Filo del Sol deposit.

Mogotes Metals: Expanding the Albor Discovery at Filo Sur

Mogotes Metals drilled 180 metres at 0.98% copper equivalent at its Albor copper-gold-silver-molybdenum discovery at Filo Sur , according to the company's July 9 announcement. The results confirm and expand the discovery at the Albor target, first made with hole FS_DDH_016 , which is located in the Vicuña district on the Argentina-Chile border.

CEO Allen Sabet stated that in the company's first fully funded drill season at Filo Sur, Mogotes has made two significant copper-gold-silver-molybdenum discoveries, at Cruz del Sur and at the Albor target . The Albor intercept includes shallow mineralization starting at 108 metres depth, with a higher-grade zone spanning 43 metres and grading 1.1% copper, 0.82 grams per tonne gold, 4 grams per tonne silver and 281 parts per million molybdenum .

Mogotes Metals reports approximately C$42 million in cash, supporting continued exploration activity at Filo Sur , with drilling planned to resume in November 2026. The company's project sits along strike from one of the world's largest copper-gold-silver discoveries, positioning it in a district that has attracted major mining companies including BHP, Lundin Mining, and NGEx Minerals.

Osisko Development: Gold Mineralization Extends Beyond 700 Metres at Cariboo

Osisko Development announced new drilling results from eleven surface diamond drill holes completed as part of an ongoing deeps and near mine gap infill exploration program at the company's permitted, 100%-owned Cariboo Gold Project in central British Columbia . The results demonstrate the project's potential to grow well beyond its current resource footprint.

Drilling confirmed high-grade gold mineralization beyond the current resource footprint and below its approximately 350 metre average depth, including intercepts such as 13.19 grams per tonne gold over 3.60 metres at 596 metres and 28.90 grams per tonne gold over 0.50 metres at 718 metres . Approximately 65% of drilling, or 5,823 metres, transected areas outside the current Cariboo Gold Mineral Resources .

President Chris Lodder stated the company is encouraged by the initial results, noting that strong high-grade intercepts in previously untested areas and known under-tested gaps continue to demonstrate the at depth potential for resource growth beyond the current mineral inventory . Five surface rigs continue testing targets down-dip to vertical depths of up to 800 metres within the permitted project area.

Sandfire: Black Butte Copper Mine Life Extended to 12 Years

Sandfire Resources America's updated preliminary feasibility study for the Black Butte copper project in Montana adds reserves over the previous study from 2025, with the updated PFS adding the Lowry deposit to the mine plan and estimating probable reserves at 14.3 million tonnes grading 2.6% copper for 370,000 tonnes contained red metal .

Discounted at 8%, the study estimates an after-tax net present value of $126 million, with an internal rate of return of 13.3% and initial costs of $474 million . CEO Lincoln Greenidge said the new mineral reserve estimate for the Lowry deposit highlights significant growth potential beyond the initial eight-year mine life, positioning the Black Butte Copper Project as a critical domestic copper asset when secure U.S. mineral supply is paramount .

Lowry, which wasn't included in the previous study from last year, is about 2 kilometres from the main Johnny Lee deposit, which hosts 9.5 million probable tonnes at 2.9% copper for 270,000 tonnes of contained copper . The project is located approximately 90 kilometres east of Montana's capital, Helena.

NGEx Minerals: Jupiter Zone Delivers Spectacular Copper-Gold Grades

Drill results from NGEx Minerals' Lunahuasi copper-gold-silver project in northern Argentina extended the high-grade Jupiter zone, with highlight hole DPDH077 cutting 10 metres grading 0.88% copper, 3.14 grams gold per tonne and 12.2 grams silver from 89 metres depth, including 7.6 metres at 18.84% copper, 5.54 grams gold and 336.7 grams silver .

CEO Wojtek Wodzicki said hole DPDH077 is a good reminder that the Jupiter Zone, which was first intersected by the Lunahuasi discovery drillhole, is not to be overlooked, adding that while the company has drilled fewer holes into Jupiter than the Saturn and Mars targets, intersections across Jupiter in a 400-metre by 500-metre area show the potential of this major zone .

The latest assays bolster Lunahuasi's emergence as one of the world's highest-grade undeveloped copper-gold-silver discoveries . The results are from the stage 4 drill program at Lunahuasi, comprising 27,318 metres across 32 holes . The project is located approximately 1,300 kilometres northwest of Buenos Aires in Argentina's San Juan Province.

BHP: Port Hedland Strike Threat Fuels Iron Ore Rally

Iron ore was on track for the biggest weekly gain since early May as a looming strike at BHP Group's Port Hedland terminal stoked supply concerns, with the steelmaking ingredient advancing 1.6% this week, with futures clearing $99 a ton on the Singapore Exchange on Friday , according to Bloomberg.

Workers at BHP Group's Port Hedland iron ore terminal in Western Australia will stage an eight-hour strike on July 16, unions said, with the action involving operators and maintenance workers at the world's largest iron ore export port, who are represented by the Combined Ports Unions . Hundreds of workers at BHP's Port Hedland iron ore operations could walk off the job, in what would mark the biggest industrial action there in decades, potentially disrupting $80 million of daily revenue for BHP .

The proposed action could involve 160-200 employees out of approximately 450 workers responsible for port and maintenance operations . According to market data, iron ore prices have rallied this week on supply concerns, with the COPX copper miners ETF trading at $76.22, up 1.1% on Friday.

NexGold: Goldboro Drilling Expansion Boosts Nova Scotia Gold Project

NexGold Mining reported additional assay results from its ongoing Reverse Circulation infill drill program at the company's Goldboro Gold Project in Nova Scotia, and based on the success of the program to date, the company has elected to expand the RC Infill Drill Program from approximately 30,000 metres to 40,000 metres .

Hole RC-26-147 cut 6 metres grading 12.06 grams gold per tonne from 44 metres downhole, including 1 metre of 67.41 grams gold from 47 metres, while another hole, RC-26-102, intersected 18 metres of 3.84 grams gold from 44 metres depth . Results from the expanded program, which is about 62% complete, will inform a future resource update while the company puts together an updated feasibility study scheduled for release in the third quarter .

Goldboro is one of Canada's most advanced undeveloped gold projects, located about 175 kilometres northeast of Halifax, hosting two open-pit deposits, and the project is fully permitted at both the provincial and federal levels , which allows the company to focus on financing and construction planning.

Rio Tinto: Sovereign Metals Gains Full Control of Kasiya Graphite Project

Rio Tinto will not become the operator of Sovereign Metals' Kasiya rutile-graphite project in Malawi, leaving the junior with full control of one of the world's largest undeveloped natural rutile and graphite deposits, with the mining major saying its decision reflected a broader shift in corporate strategy and the strategic review of its iron and titanium business .

Sovereign will retain Rio's $60 million investment while assuming sole ownership of the project's development, and Rio's exclusive rights to market more than 40% of production, along with its consent and pre-emption rights, will also lapse . The move strengthens Kasiya's position as a potential non-Chinese supplier of rutile, graphite and rare earth products .

Sovereign said the move gives it greater flexibility to pursue financing and commercial agreements as Western governments seek secure supplies of critical minerals outside China . The decision comes after a definitive feasibility study confirmed the project's potential to become the world's largest producer of natural rutile and graphite.

What It Means

This week's announcements underscore two powerful trends reshaping the global mining landscape: the hunt for high-grade copper deposits in proven districts, and the intensifying competition to secure critical mineral supply chains outside of China.

The copper story is particularly compelling. Mogotes, NGEx, and Sandfire are all advancing projects that could add meaningful supply in a market where prices remain elevated. According to market data, copper miners tracked by the COPX ETF gained 1.1% on Friday, reflecting continued investor confidence in the red metal's fundamentals. With NGEx hitting grades of 18.84% copper at Lunahuasi and Mogotes expanding its Albor discovery to 180 metres , Argentina's Vicuña district is cementing its status as one of the world's premier copper-gold exploration frontiers.

Meanwhile, the critical minerals theme is gaining urgency. Rio Tinto's decision to hand Sovereign full control of Kasiya reflects a broader industry recalibration, with majors focusing on core commodities while juniors pursue strategic partnerships with Western governments seeking supply security. The graphite and rare earths space is heating up as battery and defense applications drive demand for non-Chinese sources.

Gold continues to shine, both in price and exploration results. With gold trading at $4,123 per ounce on Friday, up 1.2% according to market data, companies like Osisko and NexGold are finding strong investor support for drill programs that expand high-grade resources in mining-friendly jurisdictions like British Columbia and Nova Scotia.

The BHP strike threat, while limited to an eight-hour stoppage, highlights the growing power of labor in a tight commodity market. Iron ore's 1.6% weekly gain demonstrates how quickly supply concerns can move prices, even when Chinese stockpiles remain elevated.

This roundup covers press releases published on July 10, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.