Tivan Options Timor-Leste Licence Next to Baucau Gold Project

Rock chip sampling conducted by Tivan returned assay results of up to 0.76% copper and 9.3 grams per tonne gold. Those numbers are consistent with earlier work by previous owner Beacon Minerals (ASX: BCN), which reported 4.18% copper, 37.8 grams per tonne gold and 1.12% cobalt.

Executive chair Grant Wilson said the company was pleased to complete the transaction with Iron Fortune, which has been an early mover in Timor-Leste. The option, he said, provides an opportunity to further assess the prospectivity of the licence and potentially expand the footprint of the highly prospective project.

Tivan recently leased a permanent field house at Baucau, designed to support expanding exploration activity, improve operational efficiency and reduce mobilisation costs. The lease followed rapid growth in the company's in-country presence, which now spans three concession areas: Baucau, Turiscai and Ossu.

In May, Tivan executed binding term sheets with state-owned mining company Murak Rai Timor EP to establish joint ventures at Baucau and Ossu, creating a platform for technical collaboration and local participation in Timor-Leste's mineral sector.