Tivan and Sumitomo agree to third project collaboration

Tivan and Sumitomo have signed a memorandum of understanding (MoU) for the Molyhil tungsten-molybdenum project in the Northern Territory.

The companies will collaborate on exploration, development planning, funding, construction, marketing and distribution and operation of the Molyhil project.

Tivan executive chairman Grant Wilson comments on the agreement.

“With our firmwide capabilities rapidly expanding, and with our strong relationships with local stakeholders, Tivan is ideally positioned to develop a high-value critical minerals precinct in central Australia in the years ahead,” he said.

“In taking this step Tivan is also mindful of the increasing involvement of governments in the global critical minerals complex.

“The Board of Tivan remains committed to advancing our mission of building a strategically important company and to further strengthening the important bilateral relationship between Australia and Japan.”

This represents the third strategic project collaboration between the two companies, following the establishment of a joint venture and a MoU for the Sandover fluorite project both in July.

Tivan acquired the Molyhil project in September, providing the company with 100% ownership of the project which has unique development synergies with the adjoining Sandover fluorite project.

New discovery at Sandover

Tivan has discovered a manganese-barite gossan at the newly named Walshy’s Wall within the Sandover fluorite project.

Results from 32 rock chip samples collected along the gossan returned assays of up to 44.8% manganese, defining the gossan over more than 1km in strike length.

Assays also confirmed elevated levels of copper, tungsten and beryllium at the gossan. Tivan says this is an encouraging signature that highlights the potential for a new polymetallic system.

Ultra high-grade fluorite of up to 98.4% calcium fluoride was also identified in the same outcrop as the gossan.

Tivan plans to undertake further field mapping and sampling to fully define the strike extent of the gossan. Geophysical surveys will then be undertaken to define targets for initial drill testing.