Tivan’s Sandover Project Faces Approval Hurdles Despite Promising High-Grade Results

Project Progress and Strategic Context

Tivan Limited (ASX: TVN) has taken a significant step forward with its Sandover Fluorite Project in the Northern Territory, advancing a robust exploration and approvals program aimed at unlocking what appears to be a world-class fluorite deposit. Following the acquisition announcement in November 2024, the company has rapidly moved to develop a dual-track workstream focusing on resource definition and project facilitation, with drilling scheduled for the fourth quarter of 2025.

This timing strategically follows the completion of Tivan’s 2025 drill campaign at the Speewah Fluorite Project in the East Kimberley, where the company is also making headway. The Sandover Project’s advancement aligns with Tivan’s broader ambition to establish a critical minerals portfolio that supports the growing global demand for fluorite, a mineral essential to semiconductor manufacturing and energy transition technologies such as lithium-ion batteries.

Encouraging Assay Results and Historical Data Review

Preliminary surface sampling at Sandover has yielded ultra high-grade fluorite assays, with calcium fluoride (CaF2) content reaching up to 94%. Notably, eight samples exceeded 80% CaF2, and ten surpassed 70%, underscoring the deposit’s exceptional quality. The mineralogy is favourable for producing acid-grade fluorspar (>97% CaF2), with no detectable deleterious elements such as arsenic or phosphorus, which often complicate processing.

Complementing these recent results, Tivan’s geological team has revisited historical exploration data dating back to the early 1970s. This review identified multiple high-grade drill intercepts, including intervals with CaF2 grades ranging from approximately 33% to 59% over significant widths. While these historical results predate current JORC reporting standards and require verification through modern drilling, they provide a compelling conceptual framework for the deposit’s potential scale and grade continuity.

Comprehensive Exploration and Approvals Program

Tivan’s exploration program is methodically structured to build a detailed geological model and resource estimate. Activities include further surface sampling, infill sampling to refine drill targets, preliminary drilling, metallurgical testwork, and ore sorting trials to evaluate the viability of Direct Shipping Ore (DSO) production. The company is also actively engaging with Traditional Owners, the Central Land Council (CLC), and the Northern Territory Government to secure necessary cultural heritage clearances, environmental licenses, and mining titles.

Environmental consultancy firm EcOz has been appointed to guide the environmental and licensing pathway, reflecting Tivan’s commitment to sustainable development. The company is also collaborating with regional infrastructure stakeholders to support logistics planning, which is critical for project feasibility in this remote region.

Commercial Synergies and Future Outlook

Executive Chairman Grant Wilson highlighted the strategic importance of the Sandover Project within Tivan’s portfolio, describing it as a low-risk, high-potential opportunity that complements the company’s joint venture with Sumitomo Corporation at Speewah. This partnership is expected to enhance distribution networks in Asia, a key market for fluorite products.

With a capital raise completed to fund 2025 activities, Tivan is well-positioned to execute its exploration and approvals schedule. The anticipated Scoping Study in Q2 2026 will provide critical insights into the technical and economic parameters of developing an acid-grade fluorspar mining and processing operation, potentially unlocking significant value for shareholders.

While the project remains at an early stage, the combination of recent ultra high-grade assay results, historical data, and proactive stakeholder engagement sets a promising foundation for Tivan’s next phase of growth.