Tivan work to translate into Sandover exploration hypotheses

Tivan (ASX:TVN) is planning to implement further work at the Sandover Project in the Northern Territory, upon identifying a new ‘high-grade’ lead target via a surface sampling program by exploration alliance partner Earth Artificial Intelligence (AI). 

Consistent with Earth AI’s exploration process, Tivan, which has a market capitalisation of $91.22 million, is planning to conduct a detailed geological mapping and surface sampling program. 

Results from this work will translate into exploration hypotheses followed to be tested by a maiden drilling program. 

Tivan plans to kick off drilling in Q2 2024, subject to the relevant approvals and agreements. 

Executive Chairman Grant Wilson says the company is ‘delighted’ to have made a potentially historic discovery. 

“It showcases the transformative impact that we expect AI-driven exploration will have, particularly across vast areas such as Sandover. 

The prospect of building a major project near Alice was my central motivation in taking on the leadership of this company in late 2022. With this find, we may have come full circle.”

Tivan reports initial assay results from work conducted by Earth AI returned 12.2% lead. 

The ‘high-grade’ mineralisation at the surface is a ‘rare’ discovery in modern day exploration and suggests the presence of a shallow ore deposit. 

Sandover lies 100km north of Alice Springs and covers an 8,000km-square area. 

During March 2023, Tivan and Earth AI entered into an exploration alliance agreement to advance exploration work at the project under a success-based model providing access to innovative AI capability for targeting and testing. 

Tivan is a critical minerals explorer focused on exploring for vanadium, titanium, and iron. 

As of 31 December 2023, the company had $2.861 million cash and cash equivalents at hand, according to its latest quarterly report. 

Write to Aaliyah Rogan at Mining.com.au

Images: Tivan
Author Image
Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

King River preps stream of NT drilling

King River Resources (ASX:KRR) is gearing up to begin a fresh drilling program across a string of projects in the Northern Territory to follow up on some 2023 geophysics work.

The $15.5 million market capitalisation company plans to complete around 13,500m of reverse circulation (RC) drilling over 2024, focusing on targets generated from the previous geophysical work and potential extra targets to be identified as the processing and interpretation of this data progress.

King River says in 2023, it allocated a $2 million drilling budget following the geophysics program, and the drill targets span across the Tennant Creek East, Rover East, Kurundi, and Barkly Projects, which lie along-strike of geophysical and geological trends associated with known deposits of ‘high-grade’ copper and gold. 

The company’s drilling work is slated to begin next week.

The first phase of drilling will focus on Tennant Creek East, with 3 main areas to be tested. These include the Commitment area, where King River plans to drill 4 RC holes for 800m, the Langrenus area, with 10 holes planned for 1,500m, and the Providence area.

Drilling at Providence during 2023 uncovered ironstone, alteration, and structure associated with gravity and dipole-dipole induced polarisation (DDIP) anomalies, with assays from 1,700 drill samples still pending. 

The Commitment area lies 4km northwest of Tennant Minerals’ (ASX:TMS) Bluebird deposit, where recent diamond drilling results have returned intersections such as 61.8m @ 2.3% copper, including 6.85m @ 2.1% copper and 4.6 grams per tonne (g/t) gold from 153. 

Meanwhile, Langrenus lies 700m along-strike of Hopeful Start historic workings and 1km along-strike of the Mauretiania prospect, where Emmerson Resources (ASX:ERM) has struck drill results of 20m @ 28.5g/t Au. 

King River says it has identified 3 ‘priority’ target areas for drill testing at Langrenus.

According to its latest quarterly report, King River Resources had around $3.9 million cash at hand at the end of December 2023. 

Images: King River Resources
Author Image
Written By Joshua Smith
Joshua Smith has years of experience in the media sector, having worked as a markets reporter, features writer, and editor since completing a Communications and Journalism degree and a Creative Writing degree. Josh is an avid board game fan and a self-professed coffee snob.

Redcastle seeks to crown Queen Alexandra

Redcastle Resources (ASX:RC1) is planning to investigate further ‘high priority’ gold targets within its Queen Alexandra deposit, as part of its namesake gold project in Western Australia. 

An upcoming diamond drilling program will take place between Q1 to  Q2 2024 to investigate the geometry of the ‘high-grade’ shoots at depth and the possibility of additional stacked shoots. 

The company says the projected Queen Alexandra interpreted mineralisation corridor requires further investigation to uncover additional mineralisation, elsewhere within the corridor and under cover. 

Redcastle’s board says: “The objective of the planned program of diamond drilling is to confirm the current interpreted mineralisation orientations and to increase the definition, understanding, and extent of the deeper high-grade mineralisation. 

It will also determine the strategy to be adopted for exploitation of the Queen Alexandra Mineral Resource Estimate (MRE) going forward.

As a result of the improved understanding of the Redcastle Project, other targets, as identified by our geological consultants, will be followed up by further surface exploration work to be carried out over the coming months.”

The company also announced yesterday (20 February 2024) a maiden MRE was established at Queen Alexandra, with a total of 107,800 tonnes @ 3.06 grams per tonne gold containing 10,600 ounces of gold using 1 gram per tonne cut-off grade. 

Redcastle says previously conducted reverse circulation drilling had established the MRE at Queen Alexandra, while close spaced drilling into the upper 50m supports the interpretation of stacked lodes, dipping to the north and plunging to the south-east, which is open in both directors and results in ‘thicker’ than expected intersections. 

Redcastle Resources is a mineral explorer focused on its namesake project that sits 58km east-southeast of the Gwalia Gold Mine near Leonora and covers a 1,088 hectare area. 

As of 31 December 2023, the company had $1.426 million cash and cash equivalents at hand, according to its latest quarterly report. 

Write to Aaliyah Rogan at Mining.com.au     

Images: Redcastle 
Author Image
Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.

Gold Mountain prioritises Brazil lithium targets

Gold Mountain (ASX:GMN) has identified ‘high priority’ catchments for follow-up soil sampling to help define drill targets at its Custodia Project in the Borborema Province of Brazil.

The $11.47 million market capitalisation company says a series of lithium anomalies oriented predominantly along structural strike and fringing onto previously soil sampled areas have been identified. 

The Custodia Project consists of 6 tenements in an underexplored part of the Borborema Province not previously known for lithium bearing pegmatites. 

The Borborema Province also contains the productive Seridó and Solonópole lithium-caesium-tantalum (LCT) pegmatite fields. 

Gold Mountain is a mineral explorer with projects based in Brazil and Papua New Guinea considered ‘highly prospective’ for lithium, rare earths, nickel, copper, and gold. 

As of 30 September 2023, Gold Mountain had $1.812 million cash and cash equivalents at hand, according to its latest quarterly report.

Write to Adam Drought at Mining.com.au

Images: Gold Mountain
Author Image
Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.