Tivan secures major expansion of Baucau Project in Timor-Leste over large-scale magnetic anomaly

• Tivan has secured approval from the Government of Timor-Leste for the enlargement of existing granted Exploration and Evaluation License MEL2023-CA-ZB004 at the Baucau Project, adding approximately 50km² of highly prospective ground immediately east of the existing concession.
• The enlarged concession captures a large-scale regional magnetic anomaly extending approximately 2.5km by 1km, displaying comparable geometry and magnetic response to prospective targets within the existing Baucau concession and representing a priority target for follow-up exploration.
• Tivan is exploring for copper and gold mineralisation at the Baucau Project, including porphyry and volcanogenic massive sulphide (VMS) style deposits.
• Tivan will prioritise exploration activities across the newly incorporated area, with a focus on further defining and evaluating the large-scale magnetic anomaly.
• Tivan has further strengthened its Timor-Leste exploration capability with the promotion of Mr George Manton to Principal Geologist – Timor-Leste, providing dedicated senior geological leadership and significantly increasing Tivan’s on-ground technical presence in-country.

Comment from Executive Chairman of Tivan Limited

Mr Grant Wilson commented:

“An exciting development for Tivan. Beyond the large-scale magnetic anomaly shown, the decision by Timor-Leste’s government to grant the concession extension via Article 18 of the Mining Code illustrates the trust and respect that we have earned over the past eighteen months.

Today’s announcement complements outcomes achieved over the past month: we acquired an option to extend the Baucau Project to the west and we succeeded in the competitive award of a concession to the north of the Turiscai Project. These are important consolidative steps, ensuring that Tivan’s head start in Timor-Leste is retained.

Today is also a reminder of the significant responsibility we have in Timor-Leste to help build the nation. This is, at the same time, an unbounded opportunity to build our company.”

The full ASX Announcement is available here.