Tivan Completes 213 Drill Holes, Targets FS Completion by February 2026

Project Progress and Drilling Milestone

Tivan Limited (ASX – TVN) has reported substantial advancement in its Speewah Fluorite Project, located in the Kimberley region of north-east Western Australia. Throughout 2025, the company has focused on finalising a comprehensive Feasibility Study (FS) aimed at developing a mining and processing operation to produce acidgrade fluorspar (>97% CaF2) for export markets.

A key highlight is the completion of phase one of a major drilling program, with 213 drill holes totaling approximately 23 kilometres. This extensive drilling campaign supports multiple critical workstreams including resource extension, metallurgical testwork, geotechnical studies, and hydrological assessments. Assay results from this phase are expected by the end of November, with further metallurgical assays due in early 2026.

Engineering, Metallurgy, and Environmental Advances

The FS is well advanced, led by Tivan’s in-house team with Lycopodium as the primary engineering consultant. Significant progress has been made across process plant design, infrastructure engineering, and cost estimation. Metallurgical testwork has confirmed the potential for producing high-quality acidgrade fluorspar, with ongoing evaluation of ore sorting technology that could improve ore feed quality and reduce processing costs.

Environmental approvals are progressing in parallel, with comprehensive baseline surveys completed for terrestrial and subterranean fauna, flora, and aquatic ecosystems. These efforts underscore Tivan’s commitment to responsible development, alongside proactive engagement with Traditional Owners and Native Title Holders. Negotiations for Indigenous Land Use Agreements (ILUAs) are advancing steadily, supported by Resource Protocol Agreements and ongoing dialogue with the Kimberley Land Council.

Strategic Partnerships and Project Schedule

The Speewah Project is an incorporated joint venture between Tivan (holding 92.5%), Sumitomo Corporation, and the Japan Organization for Metals and Energy Security (JOGMEC). Recently, ETFS Capital joined as a strategic financing partner, providing additional capital support. In consultation with these partners, Tivan has adjusted the project timeline, shifting the FS completion to February 2026 and targeting a Final Investment Decision by October 2026. This modest delay allows for thorough data integration and partner review without impacting the critical path.

Executive Chairman Grant Wilson highlighted the team’s dedication and the project’s rapid development pace, noting the extensive drilling campaign as one of the largest in Australia’s critical minerals sector. He emphasized the company’s commitment to cultural heritage protection and sustainable community engagement, positioning Speewah as a pioneering greenfield project in the critical minerals landscape.

Looking Ahead

With assay results pending and further drilling planned for early 2026, Tivan is poised to update its Mineral Resource Estimate and deliver a maiden Ore Reserve. The integration of ore sorting technology remains a key focus, potentially enhancing project economics and environmental outcomes. Meanwhile, ongoing government engagement aims to secure supportive policy frameworks, including critical minerals incentives and royalty arrangements.

Overall, Tivan’s methodical approach and strong partnerships have laid a solid foundation for advancing the Speewah Fluorite Project toward development, marking a significant step in establishing Australia’s domestic fluorspar production capability.