Tivan is set to acquire a second fluorite project as drilling continues at its flagship Speewah project in Western Australia.
The second project, to be dubbed the Sandover fluorite project, is located eight kilometres east of the company’s Sandover lead-silver project in the Northern Territory.
The area is considered to be highly prospective for high-grade fluorite, leading Tivan to front just over $1 million to take over the reins from Investigator Resources.
The new Sandover project tenements form part of the Molyhil joint venture between Investigator and explorer Thor Energy.
“We look forward to being the best of neighbours to the Molyhil project and to developing a project in central Australia,” Tivan executive chair Grant Wilson said.
“The acquisition is highly synergistic for Tivan, enabling us to leverage multiple workflows and capabilities associated with the Speewah fluorite project and the Sandover project.
“It will also further our strategic alliance with Sumitomo Corporation, in support of the partnership between Australia and Japan in critical minerals.”
The strategic alliance provides a framework Tivan and Sumitomo to negotiate a formal joint venture agreement for the development, financing and operation of Speewah.
A joint venture is expected to be formalised by the end of the year, which will see Sumitomo become the sole distributor and agent to market Speewah’s commercial grade fluorspar, with prescribed tonnage reserved for Japanese customers.
What’s next for the new Sandover?
Tivan now intends to undertake an initial mapping and surface sampling program prior to the end of 2024, with the aim of confirming historic areas of interest and identifying new areas of mineralisation.
Further infill sampling will be undertaken on prospective areas identified from the initial program, with the aim of refining potential targets for a maiden drilling program during the first half of 2025.
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