Tivan upgrades Mineral Resource Estimate for Speewah Fluorite

The MRE update materially enhances the integrity of the resource and supports updated mine planning and production scheduling for the Definitive Feasibility Study that will follow the Feasibility Study.

Tivan’s geology team is currently planning a second stage of drilling at the Project, the Speewah 2026 drill program, focused on further infill drilling of the resource and exploration drilling at multiple targets that offer resource expansion potential.

The Feasibility Study for the Project is scheduled to complete later this month, focused on a mining and processing operation producing acidgrade fluorspar (>97% CaF₂) for export into global markets.

The Board of Tivan Limited (ASX: TVN) (“Tivan” or the “Company”) is pleased to announce that a Mineral Resource estimate (“MRE”) update has been completed for the Speewah Fluorite Project by SRK Consulting (Australasia) Pty Ltd (“SRK”), following completion of the stage one drilling program at the Project completed in Q4 that delivered ~23km of drilling. The drilling supports the Feasibility Study (“FS”) for the Project scheduled for completion later this month.

The MRE update has reaffirmed Speewah as one of the largest high-grade fluorite resources globally, enhancing the integrity of the resource and supporting updated mine planning and production scheduling that will be undertaken as part of the DFS that will commence following completion of the FS.

Speewah now hosts a JORC (2012) compliant Indicated and Inferred Resource of 43.2 million tonnes at 8.3% CaF₂ (2% CaF₂ cut-off grade) containing 3.6 million tonnes CaF₂. The MRE update has delivered an increase of 16% in total resource tonnage and an increase of 6% in total contained CaF₂ relative to the 2024 MRE also prepared by SRK (see ASX announcement of 22 April 2024). The MRE update includes a high-grade component of 9.6 million tonnes at 20.6% CaF₂ (10% CaF₂ cut-off grade) containing 2.0 million tonnes CaF₂.

See Mineral Resource Estimate Update in the full ASX Announcement for further details.

The stage one drilling program returned significant assays from both infill and metallurgical drilling, and from extensional drilling that targeted and has now confirmed new mineralisation between G-Vein Link and A-Vein North. The results have been included in the MRE update.

Further potential exists for extension of mineralised zones which have not been closed off along strike or at depth, and for new areas of mineralisation outside of the MRE including at the “Southern Veins” and “Dingo Vein” (formerly referred to as “Blue Vein”). Tivan will shortly commence a second stage of drilling at the Project focused on further infill drilling of the resource and exploration drilling at multiple targets that offer resource expansion potential.

A further MRE update is planned to be undertaken following completion of Stage Two drilling.

Details of the drilling program, drilling results and MRE update are provided in the full ASX Announcement.

Mr Grant Wilson commented:

“Tivan is delighted to deliver this upgraded Mineral Resource Estimate, that will strongly support the progression of Speewah Fluorite Project, as we build a new, critical export sector for Australia and strengthen the resilience of vital supply chains in Asia.

Congratulations are due to our geology team for their epic feats in the field last year, ably supported throughout by our engineering and corporate teams in Darwin and Perth. We extend sincere thanks to the many contractors who worked tirelessly to support the 2025 drilling program, particularly DDH1 and MDM Mining & Civil. We also extend our respects to the Speewah cultural monitors for their dedicated support in assisting Tivan discharge our cultural heritage obligations on country.

Speewah is now confirmed as a world-class Fluorite resource, rare in the western hemisphere, in terms of size, grade, depth, mineralogy and proximity to port. 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, that will support Life of Mine extension at the Definitive Feasibility Study stage and beyond.

Speewah is also now the most transparently reported Fluorite deposit in the world. Transparency is a hallmark of Tivan, and the JORC code is a bedrock attribute of Australia as a Tier 1 mining jurisdiction. We will maintain these same standards of excellence as we define the Sandover Fluorite Resource, enabling our strategic partners in Japan to proceed with confidence over a long-term horizon”.