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- Key pathfinder elements associated with porphyry style deposits also identified.
- Grades of up to 434 ppm copper and 0.801 ppm gold obtained; grades returned were considered significant for stream sediment sampling.
- Stage two work now underway focused on prospect scale exploration.
Tivan (ASX:TVN) has received strong initial assay results from its regional-scale stream sediment sampling program across the Turiscai project in Timor-Leste. The assays have returned grades of up to 434 parts per million copper and 0.801 ppm gold.
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In addition, anomalous grades of up to 0.20 ppm silver, 0.62 ppm bismuth (Bi), and 2.60 ppm selenium (Se) were also returned from stream sediment sampling, which are considered key pathfinder elements associated with porphyry-style mineral deposits.
Executive chairman, Grant Wilson, said the new results build on the previously reported high-grade copper-gold mineralisation from rock chip sampling, which included grades of up to 9.65% copper and 7.19 g/t gold.
“Tivan is greatly encouraged, particularly with the consistency of the early findings of copper and gold, and the presence of pathfinder elements at anomalous grades,” Mr Wilson said.
“We will continue with our systematic approach at Turiscai, whilst pursuing a fast-track for maiden drilling at the Ossu project in Q4.
“Make no mistake, these are foundational and historic steps in building the mineral resources sector in Timor-Leste, advancing with the strong support of the local community and the government of Timor-Leste.
“Tivan is fully committed and proud to be leading the way.”
Stage two work has commenced, focused on prospect scale exploration at priority target areas identified during stage one. Stage two works will include detailed mapping, infill sampling and geophysical surveys, with the aim of defining copper-gold drill targets for a maiden drilling campaign at the project.
Initial rock chip assays have been received for stage two sampling, returning grades of up to 23.1% copper, further supporting the company’s exploration targeting model and advancement of definition of priority target areas.
Turiscai is located ~40km south of Timor-Leste’s capital of Dili and is considered prospective for copper-gold mineralisation, exhibiting geological characteristics analogous in setting to large copper-gold deposits in the region, including Grasberg (Central Papua, Indonesia), Ok Tedi (Papua New Guinea), Wafi-Golpu (PNG), and Panguna (formerly referred to as Bougainville, PNG).
TVN closed up +3.33%, at 31¢. Mkt cap $680.6M.
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