Tivan Limited (ASX: $TVN) announces maiden exploration target for Speewah Fluorite Project

Tivan Limited (ASX: $TVN) has reported a maiden Exploration Target prepared by SRK Consulting (Australasia) Pty Ltd for the Speewah Fluorite Project, located in the Kimberley region of north-east Western Australia. The Exploration Target has a conceptual range of 8.4 to 17 million tonnes grading between 6% CaF2 and 10% CaF2, inclusive of a high-grade component of 1.9 to 3.9 million tonnes grading between 16% CaF2 and 26% CaF2. The potential quantity and grade of the Exploration Target is conceptual in nature and has been prepared and reported in accordance with the 2012 edition of the JORC Code.

Executive Commentary on Exploration Target

At the direction of the Board of Tivan, the Exploration Target for the Speewah Fluorite Project has been developed independently and rigorously by SRK. It represents a conservative indication of the resource potential at Speewah, capturing only areas that contain high-grade intersections and excluding more than 30 kilometres of greenfield strike length. Tivan is well advanced in planning the associated drill program, within the framework of heritage protection agreed with the Kimberley Land Council. The results will be integrated into project studies as we proceed, with scope retained for further resource expansion in the years ahead. This approach will maximize the economic potential of the project for shareholders. A fortnight ago Tivan meaningfully upgraded the Mineral Resource Estimate for the Speewah Fluorite Project. Today's announcement, with robust Tonnage and Grade Ranges, underscores Speewah's rapid emergence as a world-class Fluorite resource.

Summary of Exploration Target and Outlook

Tivan Limited (ASX: $TVN) has announced a maiden Exploration Target for the Speewah Fluorite Project, indicating a conceptual range of 8.4 to 17 million tonnes grading between 6% CaF2 and 10% CaF2, inclusive of a high-grade component of 1.9 to 3.9 million tonnes grading between 16% CaF2 and 26% CaF2. The Exploration Target is exclusive of the Mineral Resource estimate recently prepared by SRK. Tivan is planning a staged approach to drill test the prospective areas, with an initial drill program indicatively scheduled to be undertaken in Q3 2024, conditional on heritage and works approvals being received. The results of the drill program will be integrated into project studies, with scope retained for further resource expansion in the years ahead, maximizing the economic potential of the project for shareholders.