The Tivan Ltd (ASX: TVN) share price is in focus after the company received final approvals to commence its maiden drilling program at Walshy's Wall within the Sandover Fluorite Project. High-grade manganese samples up to 44.8% and fluorite at 98.4% CaF₂ were previously identified.
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What did Tivan report?
- Regulatory approval secured from the Northern Territory Government for drilling at Walshy's Wall
- Sacred Site Clearance Certificate received from the Central Land Council
- Maiden staged program planned: 31 reverse circulation drill holes, with nine priority holes commencing October
- Rock chip sampling returned manganese grades up to 44.8% Mn and fluorite up to 98.4% CaF₂
- Elevated copper (up to 0.5%), beryllium (up to 50ppm) and tungsten (up to 0.12%) levels identified
What else do investors need to know?
Tivan's drilling program at Walshy's Wall represents the company's first systematic test of this recently discovered manganese-barite gossan. The approvals bring the drill program within the environmental and cultural heritage requirements of the Sandover project and reflect the support of both the Northern Territory Government and Traditional Owners.
The drill campaign is set to target the strongest geochemical anomalies identified during recent field work. Stage One drilling will focus on the most prospective sections, while Stage Two may expand based on initial results.
What did Tivan management say?
Executive Chairman Grant Wilson said:
We are very pleased to have secured these approvals on a timely basis, that will enable Tivan's geology team to complete a maiden drilling program at Walshy's Wall before the summer heat arrives. We extend sincere thanks to the Northern Territory Government and the Central Land Council.
What's next for Tivan?
Tivan's team is preparing to mobilise for the Stage One drilling, which will commence in October. This first stage will help the company determine if the strong surface mineralisation is mirrored at depth.
The results from the initial drilling will guide the potential rollout of Stage Two, testing the broader scale and continuity of the mineralised system. Tivan aims to unlock further value at the Sandover project and progress exploration efficiently within approved guidelines.
Tivan share price snapshot
Over the past 12 months, Tivan shares have risen 140%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
