Tivan (ASX: TVN) has upgraded the mineral resource estimate for its Speewah fluorite project in Western Australia, affirming it as a world-class deposit with highly amenable mineralogy for acidspar production.
The indicated and inferred total now sits at 43.2 million tonnes grading 8.3% calcium fluoride (at a 2% cut-off) for 3.6Mt calcium fluoride.
This includes a high-grade component of 9.6Mt at 20.6% calcium fluoride (10% cut-off) for 2Mt calcium fluoride.
The upgrade represents an increase of 16% in tonnage and 6% in contained calcium fluoride, with further potential for extension of mineralised zones that have not been closed off along strike or at depth, as well as in new areas of mineralisation outside of the resource including the Southern and Dingo veins.
Multi-Faceted Drilling Program
The resource update follows completion of 23 kilometres of drilling as part of a multi-faceted program last year in support of a Speewah feasibility study focused on a mining and processing operation producing acid-grade fluorspar (>97% calcium fluoride) for export to global markets.
The Stage 1 infill, metallurgical, and extensional campaign returned significant intercepts and confirmed new mineralisation between the G-Vein Link and A-Vein North.
Best infill and metallurgical assays were 45 metres at 26.9% calcium fluoride from 1m including 24m at 41.9% from 22m, and 98m at 14.9% calcium fluoride from 72m including 35m at 27.6% from 87m.
Highlights from extensional work were 43m at 19.4% calcium fluoride from 62m including 30m at 25.0% from 70m, and 48m at 9.1% calcium fluoride from 74m including 8m at 16.9% from 88m.
Tivan’s geology team is currently planning a Stage 2 campaign focused on further infill drilling of the resource and exploration drilling of multiple targets that offer resource expansion potential.
‘World-Class Flourite Resource’
Tivan executive chair Grant Wilson said the resource update would strongly support Speewah’s progression.
“Our project is now confirmed as a world-class fluorite resource, rare in the western hemisphere in terms of its 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 to support life-of-mine extension at the definitive feasibility study stage.”
The company expects to provide a second update to the mineral resource estimate on completion of the Stage 2 work.
