Tivan (ASX: TVN) has reported significant high-grade fluorite results from its maiden Sandover drilling campaign, confirming vein continuity and depth extension.
These results, alongside recent Molyhil acquisition and Speewah MRE upgrades and a new strategic partnership with Sumitomo Corporation, highlight the company's advancing critical minerals portfolio.
Sandover Fluorite Hits Ultra High-Grade
Tivan's initial drilling at the Sandover Fluorite Project has revealed ultra high-grade calcium fluoride (CaF2) intersections.
Seven diamond holes, totalling 518m, tested five distinct fluorite reefs, with the most impressive result 3.4m at 71.7% CaF2 from 36.8m.
Other notable intercepts include 20.3m at 18.9% CaF2 from 24m (including 6.2m at 37.7% CaF2) and 15.5m at 22.4% CaF2 from 56.5m (including 5.4m at 32.1%).
Mineralisation was also intercepted at 8m at 25.1% CaF2 from 34m (including 4.5m at 41.6% CaF2).
All holes successfully intercepted high-grade fluorite, showing no deleterious elements.
The mineralisation appears to be wider at depth than initially indicated by surface mapping, and it remains open along strike and at depth, suggesting significant potential for footprint expansion.
Sumitomo Partnership Advances Sandover
Tivan has also established a Memorandum of Understanding (MoU) with Sumitomo Corporation to advance the Sandover project.
This collaboration is expected to support development and potential offtake pathways for acidspar production.
Metallurgical work completed to date is favourable for acidspar production, indicating low levels of arsenic, deleterious elements, and calcite.
Further metallurgical tests, including mineralogy, comminution, flotation, and ore sorting, are planned to optimise the processing pathway.
Following these promising initial results, Tivan plans to commence a Stage Two RC drilling program in April 2026. This program will consist of 58 holes for a total of 6,825m, aimed at further delineating the resource.
Speewah Resource Grows
In a separate announcement, Tivan also upgraded the Mineral Resource Estimate (MRE) for its flagship Speewah Fluorite Project.
The total resource increased by 16% to 43.2 million tonnes at 8.3% CaF2, containing 3.588 million tonnes of CaF2.
The updated MRE includes a significant high-grade component of 9.6 million tonnes at 20.6% CaF2, containing 2.0 million tonnes of CaF2.
This upgrade supports ongoing mine planning and the Definitive Feasibility Study for the project, with a maiden Ore Reserve targeted for mid-2026.
Molyhil Acquisition Complete
Tivan recently completed the 100% acquisition of the Molyhil tungsten-molybdenum project in the Northern Territory for $8.75 million.
This acquisition adds a significant resource of 4.647 million tonnes at 0.26% WO3 and 0.09% Mo, containing 12,100 tonnes of tungsten trioxide and 4,400 tonnes of molybdenum.
The company is fast-tracking the development of Molyhil, with a drilling program of 13 holes for approximately 1,950m planned to commence in March 2026 to explore for resource expansion.
Tivan is targeting a Final Investment Decision for Molyhil in Q4 2027.
Deferred payments totalling $5.25 million provide funding flexibility for the acquisition on top of the Sumitomo collaboration.
Funding and Partnership Support
Tivan's strategic growth is underpinned by strong partnerships and funding initiatives across its portfolio.
The Speewah Joint Venture with Sumitomo Corporation and JOGMEC is progressing, with an initial equity investment made by Japan Fluorite Corporation into the project vehicle to fund feasibility study work.
The company has also secured government grants, including an IPCM grant of $7.4 million to partially fund feasibility and DFS studies for Speewah. Engagement with Export Finance Australia and the Northern Australia Infrastructure Facility for potential debt funding is also ongoing.
The Molyhil acquisition further strengthens Tivan's critical minerals portfolio, supported by flexible deferred payment terms and the potential for the collaborative development and funding pathway with Sumitomo.
