Place a stock pot over medium heat, and add vegetable broth. Allow it to come to a simmer.
Place a deep pan on the stove over medium heat. Add 2-3 tablespoons of butter and 1 tablespoon of olive oil. Allow butter to melt and froth. Add your diced shallots to the pan and saute. Add minced garlic, morels, and chanterelles. Saute for 2-3 minutes.
Add both types of rice to the pan. Stir, coating in the fat from the butter and olive oil. Allow it to sit on the heat for 2-3 minutes, toasting the rice.
Splash white wine into the pan, mixing it with the rice and mushrooms. Allow it to reduce for 2-3 minutes. Reduce heat to medium low.
Ladle hot vegetable broth into your pan, stirring frequently. By adding broth a little at a time, and stirring every few minutes, your rice will release starch, making your risotto creamy.
Continue to add broth to the rice, ladle at a time as your liquid is absorbed. The entire process should take about 30-40 minutes. Use all of your broth (and additional, if required).
Remove from the stove and garnish with fresh chopped chives. Carefully shave fresh summer black truffles over your risotto using a truffle shaver.