Tivan upgrades Speewah estimate
Tivan upgrades Speewah estimate
Tivan (ASX: TVN) has updated the mineral resource estimate (MRE) for its Speewah fluorite project, with an increase of 16% in tonnage and 6% in contained calcium fluoride. This follows completion of the stage one drilling program at the project completed in Q4 that delivered about 23km of drilling. The drilling supports the feasibility study (FS) for the project scheduled for completion later this month. Tivan says 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 definitive feasibility study (DFS) that will commence following completion of the FS. Tivan executive chairman Grant Wilson says the upgraded MRE will strongly support the progression of Speewah, as Tivan builds a new, critical export sector for Australia and strengthens the resilience of vital supply chains in Asia. “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,” he said. “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 DFS 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.” Speewah now hosts a JORC (2012) compliant Indicated and Inferred Resource of 43.2mt at 8.3% calcium fluoride (2% calcium fluoride cut-off grade) containing 3.6mt calcium fluoride. The MRE update includes a high-grade component of 9.6mt at 20.6% calcium fluoride (10% calcium fluoride cut-off grade) containing 2mt calcium fluoride.
