Tivan Gains Approval for Drilling at Speewah Fluorite Project
TVN (TVN) Share Update September 2024 Tuesday 17th
Tivan Secures Approval to Begin Drilling at Speewah Fluorite Project
Tivan Limited (ASX: TVN) has announced a significant milestone with the approval of its Programme of Work (PoW) for the Speewah Fluorite Project in Western Australia. This approval marks the beginning of a comprehensive drilling campaign aimed at advancing the project towards its development goals.
Instant Summary:
- Tivan secures Programme of Work approval for the Speewah Fluorite Project.
- Approval covers exploration, resource extension, metallurgical testwork, geotechnical, and hydrogeological drilling.
- The PoW is valid for four years and includes environmental and heritage considerations.
- Contracts for drilling and civil works to be awarded imminently.
- The project spans 226km² in the Kimberley region of Western Australia.
Programme of Work Approval
The Programme of Work (PoW) approval is a critical regulatory milestone for Tivan, enabling the commencement of ground-disturbing activities at the Speewah Fluorite Project. This approval is essential for advancing the project through its next phases of development planning, including exploration, resource extension, and various drilling activities.
The approval covers Tivan’s comprehensive phased drill planning across both Exploration Licences and Mining Leases at Speewah. This includes exploration drilling, resource extension, metallurgical testwork, geotechnical and hydrogeological drilling. The PoW is valid for four years, ensuring a structured and systematic approach to the project’s development.
Comprehensive Drill Program
Tivan has outlined a detailed drill program that includes several key components:
- Exploration Drilling: Aimed at expanding and developing the existing fluorite Mineral Resource, this phase will target areas defined in the Exploration Target.
- Metallurgical Testwork Drilling: Focused on obtaining core samples for metallurgical testwork to ensure the project’s operational efficiency and product quality.
- Hydrogeological Drilling: Includes the installation of monitoring and production bores to understand groundwater systems and ensure compliance with environmental regulations.
- Geotechnical Drilling: Provides data on the physical properties and stability of the ground, essential for designing safe and efficient mining infrastructure.
Heritage and Environmental Considerations
Tivan’s ground-disturbing works are subject to Heritage Protection Agreements previously agreed with the Kimberley Land Council. The company has facilitated cultural heritage surveys over the past six months, ensuring compliance with heritage workflows. Additionally, the PoW includes a thorough environmental impact assessment, outlining potential effects on the environment and proposing mitigation strategies.
Next Steps
Tivan expects to award contracts for drilling and supporting civil works imminently. This will support the mobilisation and completion of critical works before the arrival of the wet season. The engagement of contractors through a formal tender process is well advanced, ensuring that all exploration and development activities are executed efficiently and in compliance with cultural heritage clearances.
The approval of the PoW is a significant positive development for Tivan, as it allows the company to move forward with its drilling and exploration activities. This progress is expected to enhance the project's value and could positively impact Tivan's stock price. The comprehensive scope of the approval ensures that Tivan can advance the Speewah Fluorite Project with confidence, potentially attracting more investor interest.
Investor Reaction:
Analysts are likely to view this approval as a positive step for Tivan, as it demonstrates regulatory compliance and the potential for project advancement. The structured approach to drilling and exploration, combined with environmental and heritage considerations, may boost investor confidence in the company's ability to manage the project responsibly and sustainably.
Conclusion:
Investors should keep an eye on Tivan's progress as the company moves forward with its drilling and exploration activities at the Speewah Fluorite Project. The approval of the PoW is a major milestone that paves the way for significant project advancements. Staying informed about Tivan's developments will be crucial for making informed investment decisions.