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Terra Metals (ASX: TM1) has observed zones of massive sulphide mineralisation in its first diamond drillhole of 2026 at the Southwest prospect within the Dante project in WA.The hole, SWDD011, targeted a geophysical anomaly identified using downhole electromagnetic (DHEM) surveying, located near a previous high-grade intersection.The company reported that multiple zones of semi-massive to massive sulphides were observed within a 320m mineralised interval dominated by disseminated and net-textured sulphides.Terra managing director Thomas Line saysthe results support the company’s geological model and confirms the effectiveness of DHEM in targeting sulphide mineralisation.“The visual interception of multiple zones of massive sulphides in our first 2026 diamond hole at Southwest is a major exploration milestone and a strong validation of our geological model” he said.“The result provides compelling evidence that we are vectoring into a richer massive sulphide component within the broader Southwest magmatic PGM-Cu-Ni sulphide system.”Assays for SWDD011 are pending and expected within eight to 12 weeks.The Southwest prospect forms parts of the broader Dante project in the West Musgrave region, a large-scale multi-metal discovery of nickel, copper and platinum group elements.

Broken Hills Mines (ASX: BHM)  has continued to ramp up operations at its Rasp silver-lead-zinc mine.BHM’s preliminary production summary shows strong growth for the March quarter, with silver production up 51.7%, lead production up 48.5% and zinc production up 7.9%.This uplift reflects the company’s progressive ramp up strategy. BHM is continuing to increase production to full capacity of its 750,000tpa processing plant via the supply of two additional ore feeds to complement existing long term Western Min ore supply.Operations from the main lode have been established, with stoping ore volumes expected to materially increase through the June and September quarters. Ore from the second feed, Pinnacles, is expected to begin supplying in the June quarter.BHM has also secured a long-term renewal of its CML7 mining lease at Rasp, extending operations until 2047.Exploration licence applications under its joint venture with Kingfisher Mining Limited (ASX: KFM) have been granted and are valid until 2032.

OD6 Metals (ASX: OD6) has confirmed continuous, high-grade fluorspar mineralisation at its Mammoth prospect, part of the Quinn project located about 220km north of Las Vegas, Nevada.

Red Mountain Mining (ASX: RMX) will recommence exploration across its US antimony portfolio, with fieldwork set to begin in Montana this month. Initial work will focus on the Thompson Falls antimony project located on the Montana-Idaho border near the country’s only operating antimony smelter. Planned activities include systematic geological mapping and surface sampling. Rock chip sampling completed last year returned grades of up to 36.5% antimony and 1.12ppm gold.  Red Mountain says it has strengthened its technical capabilities by appointing experienced geologist Max Baker as an advisory board member and by engaging Montana-based KC Harvey Environmental to support field operations and assist with regulatory approvals.    Additionally, KC Harvey Environmental will assist with initial geological mapping and surface sampling at Red Mountain’s Yellow Pine and Silver Dollar projects in Central Idaho, where historical mining and sampling have indicated antimony, gold and silver mineralisation.  The company says it is continuing discussions with US-based consultants regarding potential access to government-backed funding and grant programs. The restart of exploration comes amid increasing focus on antimony as a critical mineral, with both the US and Australian governments highlighting supply constraints and the need to secure domestic sources. Recent policy support in the US, including FAST-41 status for nearby antimony projects, has contributed to renewed activity across the sector.  

Iran has agreed to allow conditional passage through the Strait of Hormuz under a two-week ceasefire with the US.The specifics of the agreement remain unclear and the extent of its influence on oil traffic through the region is yet to be determined.In a post to Truth Social, US President Donald Trump said Iran had agreed to a complete, immediate and safe reopening of the strait. However, Iran Foreign Affairs Minister Abbas Araghchi reiterated that the removal of the blockade would be conditional."For a period of two weeks, safe passage through the Strait of Hormuz will be possible via a coordination with Iran's armed forces and with due consideration of technical limitations,” he said.Shipping remained limited in the first 24 hours following the ceasefire, with only a small number of vessels transiting the Strait, according to shipping monitors.Shipping through the strait has been severely disrupted since the conflict began in late February.According to the International Maritime Organization (IMO), prior to the conflict, about 150 vessels passed through the waterway every day — that number has since dwindled to less than five a day.The IMO has estimated that there are about 2000 ships, including oil and gas tankers, currently stranded in the Persian Gulf due to the blockade.Though the reopening of the critical chokepoint will provide some much-needed relief to the global energy market, the disruption to global supply chains has already been severe. Wood Mackenzie says recovery is likely to be a months-long process even with the ceasefire in place.The 11 million barrels a day of upstream production currently shut-in across the Middle East can only be restored when export logistics normalise, which is extremely unlikely to happen overnight, according to Wood Mackenzie.Wood Mackenzie refining, chemicals and oil markets vice president Alan Gelder says a workable system of transit and shipowner confidence in the security of the transiting vessels is essential for traffic flows to resume.“There also needs to be confidence in viability of transit during and beyond the current two-week ceasefire,” he said.Wood Mackenzie says laden vessels have every incentive to transit the Strait of Hormuz as quickly as insurance and security assurances allow, but it is unclear what rate of transits can be achieved safely."Ballasting vessels are unlikely to enter via the Strait of Hormuz any sooner than a just in time logistics basis, at risk of becoming trapped if hostilities resume," Mr Gelder said."Onshore storage drawdown remains constrained by over-the-jetty load rates, onshore inventories cannot be instantaneously transferred to ballasting vessels."As export volumes ramp up, storage ullage will allow upstream production and refining operations to resume. However, the level of storage varies from less than two weeks for Iraq and Kuwait to about a month for Saudi Arabia and the UAE, according to Wood Mackenzie.Wood Mackenzie upstream analysis head Fraser McKay says the initial recovery from major fields will be more than sufficient to meet the ramp-up of export volumes, but shipping logistics will remain the constraint on upstream recovery for several weeks."Thereafter, as those constraints begin to ease, the constraints on supply will shift to the upstream production and this will expose the different challenges each country faces,” he said.“More than half of most field's previous supply levels could be restored before shipping constraints ease.”Even unconstrained, it will take countries like Iraq a long time to reach prior production levels — as long as six to nine months — given the complexities introduced by both reservoir management and resource limitations, according to Wood Mackenzie.Wood Mackenzie Europe gas and LNG analyst Tom Marzec-Manser says the ceasefire means it may be possible for the 14 trapped laden LNG cargoes in the Gulf to exit the Strait of Hormuz and provide some relief to the global gas market.“But for there to be a real structural change in supply the Ras Laffan site in Qatar would need to restart its 12 operable trains,” he said.“It is unclear if QatarEnergy would consider doing this during a ceasefire, however."Wood Mackenzie estimated that if QatarEnergy began restarting Ras Laffan at the start of May, it would take until the end of August for the 12 trains to return to full service.Though operational outlooks are uncertain, outcomes depend on whether the ceasefire holds. Representatives from the US and Iran are set to meet in Pakistan later this week to undergo peace talks.

Tivan (ASX: TVN) has mobilised equipment and personnel to central Australia to commence 2026 fieldwork, prioritising its drilling program at the Molyhil tungsten project.The drilling program, commencing next week, will target high-priority tungsten targets outside the existing mineral resource to support a potential resource expansion.The program follows the grant of an Environmental (Mining) Licence by the Northern Territory Department of Lands, Planning and Environment, enabling Tivan to undertake ground-disturbing activities.Under the licence conditions, Tivan paid a security amount of $116,729 to the Northern Territory Department of Mining and Energy, reflecting historical site disturbance from previous operators.Tivan executive chairman Grant Wilson says this progress follows an extensive period of planning and a very wet season across central Australia.“The exploration drilling for new tungsten mineralisation at Molyhil is a standout in Phase One and will commence next week,” he said.“We are grateful to the Northern Territory Government and the Central Land Council for enabling Tivan to maintain strong project momentum and look forward to sharing the scoping study for Molyhil later this month.”Tivan’s geology team expects to complete Molyhil drilling program within April before shifting Phase One resources to additional drilling at the adjacent Sandover fluorite project.Tivan’s team is also preparing for Phase Two fieldworks at Molyhil and Sandover, scheduled for H2 CY26.

Sandvik has launched its next-generation automated development drill rig, the DD423i, which offers 34.5% more drilling coverage than legacy models.Delivering 48% improved crosscut performance, the DD423i introduces new SB75i booms with double rollovers for superior reach in confined spaces, such as room and pillar applications. Automatic boom movements and integrated boom collision avoidance provide faster, safer and more precise drilling cycles.Sandvik development drills product manager Simon Morrissey says the introduction of the DD423i is an important milestone for Sandvik.“The DD422i set the benchmark for development drilling in 2015 and its success over the past decade has shaped the industry,” he said.“With the DD423i, we honour that legacy while delivering a future ready drill designed for even higher performance, automation and safety.”In field testing in Boliden, in the Skellefteå region of Sweden, the DD423i achieved over 95% machine availability, highlighting Sandvik’s commitment to robust and dependable equipment.“The Skellefteå region is known for its extremely hard and abrasive geological conditions,” Mr Morrissey said.“It is one of the toughest areas for rock drilling in Scandinavia and therefore provided the ideal testing conditions for the DD423i.”The redesigned cabin on the DD423i delivers a step forward in operator safety and comfort, offering 55% increased visibility, lower noise levels and improved dust control.Enhanced serviceability with easy access to key components supports quicker maintenance and reduces downtime while the advanced drilling control system provides fast and accurate performance with intuitive operation for all skill levels.The DD423i is fully compatible with Sandvik digital mining solutions, enabling a connected, data driven approach to development drilling.