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
