Tivan Limited has upgraded its Speewah Fluorite Project resource, confirming it as one of the world’s largest high-grade fluorite deposits with significant growth potential. The update supports imminent feasibility study milestones and further drilling plans.
- 16% increase in resource tonnage to 43.2 million tonnes
- 6% uplift in contained CaF2 to 3.6 million tonnes
- High-grade component of 9.6 million tonnes at 20.6% CaF2
- Extensive 2025 drilling program underpinning resource upgrade
- Planned 2026 drilling to further expand and upgrade resource
Speewah’s Resource Upgrade, A World-Class Fluorite Asset
Tivan Limited (ASX, TVN) has announced a significant upgrade to the Mineral Resource Estimate (MRE) for its Speewah Fluorite Project in Western Australia's Kimberley region. The updated MRE, prepared by SRK Consulting following a comprehensive 23-kilometre drilling campaign in 2025, confirms Speewah as one of the largest high-grade fluorite resources globally. The resource now stands at 43.2 million tonnes at 8.3% calcium fluoride (CaF2), representing a 16% increase in tonnage and a 6% increase in contained CaF2 compared to the 2024 estimate.
This upgrade includes a substantial high-grade component of 9.6 million tonnes at 20.6% CaF2, underscoring the project's potential to supply premium acidgrade fluorspar (>97% CaF2) for export markets. The resource lies within granted mining leases, enhancing the project's development prospects.
Drilling Success and Geological Confidence
The 2025 drilling program, comprising infill, extension, metallurgical, hydrological, and geotechnical drilling, has been pivotal in refining the resource model. Notable assay results include intercepts such as 45 metres at 26.9% CaF2 and 98 metres at 14.9% CaF2, demonstrating both thickness and grade continuity. Extension drilling at targets like G-Vein Link and A-Vein North has confirmed new mineralisation zones, significantly expanding the resource footprint.
Importantly, the infill drilling has upgraded a significant portion of the resource from Inferred to Indicated status, increasing geological confidence and supporting future mine planning and Ore Reserve estimation. The project's geological model benefits from detailed structural and lithological interpretations, with veins and stockwork mineralisation well characterised down to depths of 200 metres and beyond.
Advancing Feasibility and Strategic Partnerships
The resource upgrade directly supports the completion of the Feasibility Study (FS), scheduled for February 2026, which focuses on developing a mining and processing operation to produce acidgrade fluorspar for global markets. Metallurgical testwork is underway, leveraging samples from the 2025 drilling to optimise processing flowsheets and product quality.
Tivan's Executive Chairman, Grant Wilson, highlighted the project's strategic importance in establishing a critical export sector for Australia and enhancing supply chain resilience in Asia. The company has also secured strategic partnerships with Sumitomo Corporation, JOGMEC, and ETFS Capital Limited, reflecting strong investor and industry confidence.
Looking Ahead, Drilling and Resource Expansion
Building on the 2025 success, Tivan plans a second stage drilling program in 2026 aimed at further infill drilling to upgrade Inferred resources and exploration drilling to test new targets such as the Southern Veins and Dingo Vein. These efforts aim to extend the resource base and potentially lengthen the mine life, with a further MRE update anticipated post-drilling.
The project’s location, mineralogy, and proximity to port position Speewah as a rare and valuable fluorite asset in the western hemisphere, with transparent reporting standards aligned with the JORC Code enhancing investor confidence.
Bottom Line?
With a robust resource upgrade and strategic momentum, Tivan is poised to redefine Australia’s role in the global fluorite market, yet key metallurgical results and deeper drilling outcomes remain to be seen.
Questions in the middle?
- How will the upcoming metallurgical testwork influence processing design and project economics?
- What are the implications of the observed abrupt termination of high-grade mineralisation at depth?
- To what extent can the 2026 drilling program expand the resource and extend the mine life?