Tivan (ASX:TVN) has reported the discovery of ‘high-grade’ copper-gold mineralisation at its Baucau and Ossu projects in Timor-Leste and notes plans to commence regional-scale exploration in Q2 2026.
Surface sampling has returned grades of up to 17.4% copper and 38.1 grams per tonne gold from 12 rock chip samples collected across multiple sites. ‘High-grade’ cobalt of up to 0.45% was also returned from the assays.
The results align with historic exploration data from previous concession holders, providing additional confidence in the projects’ prospectivity. Previously unreported results from prior work include up to 37.80g/t gold, up to 14.59% copper, and up to 1.12% cobalt.
Tivan completed the acquisition of these projects in February 2026 from Beacon Minerals (ASX:BCN) following execution of a binding term sheet in November 2025.
The Baucau Project comprises three principal prospect areas: Scorpion, Vermasse, and Virac. Geology is dominated by serpentine, basaltic volcanic units, and magnetite-bearing shear zones, consistent with a convergent margin tectonic setting.
The Ossu Project contains the Ossu Bridge prospect, with regional geology comprising serpentine, gabbroic intrusive units, limestone and mudstone sequences, and volcanic cover.
The company says the identification of high-grade cobalt mineralisation of up to 1.12% is considered significant relative to typical cobalt grades globally and highlights the strong prospectivity of the project to host ‘high-grade’ polymetallic mineralisation.
The geological setting of these projects hosts some of the world’s most significant copper-gold deposits, including Grasberg in Central Papua, Indonesia, Ok Tedi in Papua New Guinea, Wafi-Golpu in Papua New Guinea, and Pangora in Papua New Guinea.
Tivan is working with Autoridade Nacional dos Minerais Timor-Leste to host ceremonies within the relevant municipal regions to formally engage with local communities, veterans, stakeholders, and government representatives.
The company is also progressing a formal joint venture for each of the Ossu and Baucau projects with state-owned mining company Murak Rai Timor as required under the Timor-Leste Mining Code.
Further work programs are currently being designed to progressively build the geological dataset and refine priority targets at the projects. Current planned activities include stream sediment sampling and additional surface and rock chip programs, with results expected in the coming months.
Executive Chairman Grant Wilson says the company is pleased to share the results that will resonate deeply in Timor-Leste, particularly the discovery of ‘high-grade’ gold.
“Tivan will be working closely with community and stakeholders in the Ossu and Baucau regions in the months ahead to consolidate our social licence to operate and plan forward works,” Wilson says.
“Our local team remains at the forefront of these endeavours, working in close collaboration with ANM, Murak Rai, and Instituto de Geociências de Timor-Leste. Tivan is proud to be playing a leading role in the development of the mineral resources sector in Timor-Leste.”
Tivan is focused on building strategically important projects in northern Australia.
Write to Amy Rotman at Mining.com.au
Images: Tivan
