NMG looks to bring Lydia online

Tivan upgrades Speewah estimate  Tivan (ASX: TVN) has updated the mineral resource estimate (MRE) for its Speewah fluorite project, with an increase of 16% in tonnage and 6% in contained calcium fluoride. This follows completion of the stage one drilling program at the project completed in Q4 that delivered about 23km of drilling.  The drilling supports the feasibility study (FS) for the project scheduled for completion later this month. Tivan says the MRE update has reaffirmed Speewah as one of the largest high-grade fluorite resources globally, enhancing the integrity of the resource and supporting updated mine planning and production scheduling that will be undertaken as part of the definitive feasibility study (DFS) that will commence following completion of the FS. Tivan executive chairman Grant Wilson says the upgraded MRE will strongly support the progression of Speewah, as Tivan builds a new, critical export sector for Australia and strengthens the resilience of vital supply chains in Asia. “Speewah is now confirmed as a world-class Fluorite resource, rare in the western hemisphere, in terms of size, grade, depth, mineralogy and proximity to port,” he said. “Beyond the significant uplift in tonnage, we have achieved a step-change in data integrity, that will strongly support the definition of ore reserves later this year.  “Our improved knowledge base materially increases our conviction in further resource expansion, that will support life of mine extension at the DFS stage and beyond. “Speewah is also now the most transparently reported fluorite deposit in the world. Transparency is a hallmark of Tivan and the JORC code is a bedrock attribute of Australia as a Tier 1 mining jurisdiction.  “We will maintain these same standards of excellence as we define the Sandover fluorite resource, enabling our strategic partners in Japan to proceed with confidence over a long-term horizon.” Speewah now hosts a JORC (2012) compliant Indicated and Inferred Resource of 43.2mt at 8.3% calcium fluoride (2% calcium fluoride cut-off grade) containing 3.6mt calcium fluoride.  The MRE update includes a high-grade component of 9.6mt at 20.6% calcium fluoride (10% calcium fluoride cut-off grade) containing 2mt calcium fluoride. 

Rox Resources (ASX: RXL) has received commitments for $350m in debt facilities to fund the development of its 100%-owned Youanmi gold project in WA.The company has entered into a binding credit-approved commitment letter and term sheet with Societe Generale, Sydney Branch, Sumitomo Mitsui Banking Corporation, The Hongkong and Shanghai Banking and Westpac Banking Corporation to provide the $300m senior secured project term loan facility, $20m cost overrun facility and $30m bank guarantee facility.Rox Resources managing director and chief executive Phill Wilding comments on the funding.“The commitment of debt funding from an impressive selection of Australian and International banks is yet another major milestone for Rox as we accelerate our pathway to production for the Youanmi gold project,” he said.“The debt funding process included a thorough due diligence process by the banks’ independent technical expert, which provides further validation of the robustness of Youanmi and our expectation that it will be a high-margin operation.“The project is now fully funded through to production, and we look forward to making a final investment decision later in this quarter, before commencing construction activities.”Rox and the syndicate banks are now working towards satisfying conditions precedent. Financial close and first debt draw down is expected in the September quarter of 2026.

Recent drilling and surface sampling activities at Sky Metals’ (ASX: SKY) Tallebung tin project have identified significant extensions of the known mineralisation, outlining new mineralised positions east and south?east of the current footprint.

Terra confirms second PGM discovery Terra Metals (ASX: TM1) has confirmed a second new platinum group metal (PGM) copper-nickel sulphide discovery at the Southwest Prospect within the Dante project.The first shallow RC drillhole reported from SW5 intersects multiple broad zones of high grade PGM mineralisation, with consistent associated copper and nickel.SW5 is located more than 800m from the recently reported SW6 PGM discovery, confirming that high-tenor PGM sulphide mineralisation occurs across multiple, spatially distinct centres within the Southwest area.Terra Metals managing director and chief executive Thomas Line says the confirmation highlights the scale and complexity of the mineral system developing within the Dante project.“The fact that SW5 has intersected a broad, stratigraphically controlled sulphide horizon about 800m from the potential feeder-proximal SW6 discovery demonstrates that mineralisation is not confined to a single point source, but is developing across multiple positions within the same magmatic system,” he said.“Importantly, these Southwest discoveries sit outside our current Dante mineral resource estimate (MRE) and represent potential new, incremental upside to an already substantial polymetallic resource base.“At the same time, our primary focus remains on the systematic growth and de-risking of the existing Dante MRE at Reef 1 and Reef 2, where a large resource upgrade and expansion program is well advanced and extensive metallurgical optimization work is ongoing.“We are deliberately advancing both streams in parallel — continuing to invest in and grow the core Dante resource while methodically assessing new high-impact targets such as Southwest that have the potential to add further scale, optionality and long-term value to the project.”Extensive metallurgical optimisation testwork continues across the Dante MRE in preparation for an upcoming resource update.