Key points
- Tivan secures approval for Baucau Project expansion
- Adds 50km² of highly prospective ground
- Large-scale magnetic anomaly identified as priority target
- Strengthened geological team with new Principal Geologist
Full summary
Tivan Ltd has secured approval from the Government of Timor-Leste for the enlargement of its existing Exploration and Evaluation License at the Baucau Project, adding approximately 50km² of highly prospective ground immediately east of the existing concession. The enlarged concession captures a large-scale regional magnetic anomaly extending approximately 2.5km by 1km, which displays comparable geometry and magnetic response to prospective targets within the existing Baucau concession. Tivan will prioritize exploration activities across the newly incorporated area, focusing on further defining and evaluating the large-scale magnetic anomaly. Additionally, Tivan has strengthened its Timor-Leste exploration capability with the promotion of Mr George Manton to Principal Geologist - Timor-Leste, providing dedicated senior geological leadership and significantly increasing Tivan's on-ground technical presence in-country.