The Tivan Ltd (ASX: TVN) share price is in focus today after the company announced it has commenced a large-scale drone magnetic survey at its Turiscai and Baucau Projects in Timor-Leste. The survey covers 57 square kilometres and aims to sharpen priority drilling targets for copper and gold, building on previously reported high-grade copper and gold mineralisation from rock chip and stream sediment sampling.
Image source: Getty Images
What did Tivan report?
- Launched a large-scale drone magnetic survey over ~57 km2 at Turiscai and Baucau Projects.
- The survey includes high-definition magnetic, LiDAR and photogrammetric data collection.
- Previous assays at Turiscai returned up to 23.1% Cu and 7.19g/t Au, and at Baucau up to 0.76% Cu and 9.3g/t Au.
- Survey work managed by PT Geologi Eksplorasi Indonesia with local Timor-Leste partners to encourage local participation.
- The survey will help refine targets for planned drilling campaigns.
What else do investors need to know?
Tivan's use of drone-based technology marks a step up from previous exploration by delivering improved spatial resolution in magnetic data. This will help better define geological structures and mineralisation zones under cover, particularly where regional datasets could not provide enough detail for drill targeting.
The company has also entered a joint venture for the Baucau Project with state-owned Murak Rai Timor E.P., reinforcing local collaboration and laying the groundwork for longer-term development of Timor-Leste's mineral sector.
Following completion of the current magnetic survey, advanced data processing and geological modelling will focus on pinpointing high-priority targets for the next phase of on-ground exploration and eventual drilling.
What did Tivan management say?
Mr Grant Wilson, Executive Chairman, said:
Today's announcement marks a new phase of Tivan's journey in Timor-Leste, moving beyond surface sampling and stream sediments, to the deployment of cutting-edge drone technology in this emerging and very special country.
In taking this step, we aim to refine and specify multiple drilling targets, enabling Tivan to secure the relevant regulatory approvals in good time, so that we may commence maiden drilling at Baucau and Turiscai this year.
This is an ambitious agenda.
With the trust we have established locally, including with our joint venture partner, Murak Rai Timor EP, along with the dedication of our world-class team, we will deliver.
What's next for Tivan?
Tivan aims to use the new high-resolution survey data to upgrade its geological models and better target high-grade mineralisation at Turiscai and Baucau. Once the data is processed and interpreted, the company plans to advance priority exploration sites to drill-ready status, pending regulatory approvals.
The partnership with local and international geoscience teams demonstrates Tivan's commitment to innovation and responsible resource development, with eyes set on maiden drilling within the current year.
Tivan share price snapshot
Over the past 12 months, Tivan shares have risen 130%, outperforming the All Ordinaries Index (ASX: XAO).
