Tivan Limited (ASX: TVN) Reports Ultra High-Grade Fluorite Assays at Sandover
Sandover Project Overview
Tivan Limited (ASX: TVN) has announced the results from an extensive surface sampling program at its Sandover Fluorite Project, revealing ultra high-grade fluorite grades. The assays revealed calcium fluorite grades, with peaks reaching 94% CaF₂ and significant findings indicating no presence of harmful elements like arsenic and phosphorus.
Acquisition Details
The project was acquired in November 2024 for $1.075 million, including upfront payments and contingent commitments based on resource definitions. Closing of the acquisition is anticipated in February 2025, subject to regulatory approvals from the NT government. Tivan aims to advance its Sacred Site Clearance Certification with the Central Land Council and continue negotiations for a Mineral Exploration Deed.
Exploration Findings
The surface sampling campaign conducted in December 2024 confirmed multiple fluorite-rich reefs along a 10-kilometre strike length. The assay results from 26 samples included eight exceeding 80% CaF₂. These findings validate Tivan’s acquisition strategy and indicate the presence of a world-class fluorite deposit essential for the growing semiconductor and energy transition industries.
Future Plans
Tivan will conduct further mapping and surface sampling in the first half of 2025 to identify more mineralisation areas. There are plans for a drilling campaign later in the year to bolster the exploration outcomes and develop a comprehensive resource definition pathway.
CEO Comments
Executive Chairman Mr Grant Wilson stated, “The assay results have far exceeded the bullish expectations Tivan held during our due diligence for the acquisition last year. The extensive mineralisation and ultra-high grades indicate that we have a genuinely Tier 1 global deposit.” Wilson emphasised Tivan’s aim to leverage its project development experience and collaborate with joint venture partners to tap into offtake markets in Asia.
Tivan is poised to further inform shareholders as the resource definition pathway progresses.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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