Tivan Discovers High-Grade Silver At Sandover Project

Tivan Ltd (ASX: TVN) has identified high-grade silver grading up to 469 g/t from surface rock sampling at the Sandover Project in the Northern Territory.

The discovery is on Aileron Station, ~250 metres south of the high-grade lead target previously identified by Tivan’s exploration alliance partner EARTH AI.

This highlights the potential for a polymetallic mineral deposit in the area.

Both finds are situated on a ridge line within an outcropping area of 1 kilometre by 500 metres that displays prominent signs of hydrothermal activity.

Sample locations and notable certified assay results from surface rock chip sampling at Sandover.

Drill testing to follow

Further assays are expected from Aileron in the weeks ahead.

The results will continue to inform EARTH AI’s systematic geological mapping of the area.

This is expected to translate into an exploration hypothesis to be tested by a maiden drill campaign, scheduled to start in late Q2.

Capital raising

Last month, Tivan agreed to a capital raising of up to A$12.4 million comprising a convertible note facility and a placement of new ordinary shares.

This is expected to provide a strategic funding pathway to progress Tivan’s project and corporate plans in 2024.

Proceeds from the capital raising are intended to fund:

  • Development works for the Speewah Fluorite and Vanadium Projects in the Kimberley region of Western Australia;
  • further payment to King River Resources Ltd (ASX:KRR) for the Speewah Project acquisition;
  • development work for the company’s technology projects (TIVAN+ and vanadium electrolyte facility); and
  • exploration at the Sandover Project (including at the high-grade lead prospect).

 

 

 

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