Critical minerals explorer Tivan (ASX:TVN) and EARTH AI are progressing an exploration hypothesis to be tested by maiden drilling in Q2 2024 at Tivan’s Aileron Station, as part of its wholly owned Sandover Project in the Northern Territory.
Tivan, which has a $80.43 million market capitalisation, says its exploration hypothesis will be fueled by results generated by geological mapping spearheaded by EARTH AI.
Results thus far have identified silver in close proximity to previously identified lead, which returned grades up to 12.2%.
Both the silver and lead discoveries sit on a north-south extruding ridge line, within an outcropping area of 1km by 500m that displays prominent signs of hydrothermal activity.
Sandover sits 100km north of Alice Springs and covers an area of 8,000km2 across two contiguous blocks of exploration licences in the Northern Arunta Pegmatite Province. Tivan recently upgraded the project to a strategic priority.
Tivan Executive Chairman Grant Wilson says silver is a welcome addition to Aileron given its importance in the energy transition and high degree of financialisation.
“While it remains early on at Sandover, we reiterate our support for EARTH AI’s highly systematic and path-breaking approach to exploration,” he says.
“This was an important consideration for the board in its recent decision to upgrade the project to a strategic priority at Tivan. Above all, there is now a genuine prospect of discovering a shallow, high-grade, large polymetallic deposit this year. If we are looking at a historic discovery, it will durably alter the trajectory ahead for Tivan, along with the socio-economic contours of central Australia.”
Tivan is prioritising planning and approvals for a maiden drilling program designed to test for lead and silver at Sandover.
Tivan is a minerals explorer focused on the global renewable energy transition, with assets in Northern Australia.
EARTH AI is an explorer for clean energy metals which works with mineral resource companies to help them improve their odds of success while keeping costs low.
As of 31 December 2023, the company had $2.86 million in cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Tivan
