Tivan (ASX:TVN) Commences Maiden Drilling Program at Aileron
Commencement of Drilling
Tivan has initiated its maiden diamond drilling program at the high-grade lead-silver target at Aileron (EL33099), part of the Sandover AI Project in the Northern Territory. The initial phase of the drill campaign is expected to be completed within two months, with a geophysics program scheduled for April.
Land Access Agreement
The drilling program follows the execution of a Land Access & Compensation Agreement with Aileron Station. The agreement outlines the conduct of exploration activities, cooperation with the station manager regarding site access and water usage, and measures to minimise impacts on the land.
Exploration Highlights
Surface sampling at Aileron confirmed high-grade lead mineralisation of up to 23.8% Pb and silver mineralisation of up to 469 g/t Ag. This defined a 1.75km x 750m lead-enriched zone and a 2km x 300m silver-enriched zone. The drill program, undertaken by EARTH AI, aims to assess the potential for a polymetallic mineral deposit.
Government Grants
The drill program is partially funded by the NT Government’s Geophysics and Drilling Collaborations program, with Tivan receiving an $80,000 grant for a diamond drilling hole and a $49,000 grant for a geophysics program. These grants support the exploration activities at the Aileron Prospect.
Regional Logistics Hub
Tivan is collaborating with the NT Government on developing a Regional Logistics Hub near the Sandover and Plenty Highways intersection. Supported by $440 million in Federal funding, the hub aims to enhance operational efficiencies and reduce haulage costs for the Sandover AI and Sandover Fluorite Projects.
Executive Comments
Mr Grant Wilson, Executive Chairman, stated, “On behalf of Tivan, I extend sincere thanks to the local managers of Aileron Station for their strong support in concluding our land access agreement in a timely manner. We are pleased to commence Tivan’s first maiden drilling campaign with the unified support of all stakeholders. Our thanks are due to EARTH AI as well, for their dedication and perseverance, in reaching this point. We wish them all the best as our campaign at Aileron commences. Tivan is determined to build the first successful mining project near Alice Springs in over a century. Stay tuned.”
Motley Fool contributor Abbie Stokes 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.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.