Tivan Validates Copper-Gold Prospects with High-Grade Assays Ahead of Q4 Drilling
Key Takeaways
- Tivan's 574-sample rock chip program across Baucau, Ossu and Turiscai has returned headline grades of up to 6.87% Cu and 24.70 g/t Au, with anomalous nickel, cobalt and silver also recorded across the portfolio.
- Two priority copper-gold prospects — Vemasse and Scorpion — have been formally elevated at the Baucau Project, each with distinct mineralisation styles: a potential VMS-style Cu-Ag-Zn system and a mafic-ultramafic-associated polymetallic system respectively.
- Scorpion's polymetallic anomaly spans approximately 1,000m by 800m, with geochemical associations for Ni, Cu, Co, Cr, Au, Ag, Te, Se and S supported by the presence of serpentinite — a scale that establishes it as a genuine priority target.
- Maiden drilling at Baucau and Ossu is targeted for Q4 2026, with Turiscai drilling planned for Q2 2027 following the monsoonal season — the near-term UAV magnetic survey currently underway across 57km² will directly inform drill collar placement.
- Tivan has executed a Binding Term Sheet with state-owned Murak Rai Timor E.P. for a joint venture over Baucau and Ossu, providing local government alignment ahead of the drilling program.
Tivan’s Timor-Leste assay program delivers high-grade copper-gold across three projects
Tivan Limited has returned assay results from 574 rock chip samples across its Baucau, Ossu and Turiscai Projects in the Democratic Republic of Timor-Leste, delivering grades of up to 6.87% Cu and 24.7 g/t Au at the headline Baucau Project. Anomalous multi-metal returns including up to 2.23% Ni, 0.26% Co and 15.1 g/t Ag were also recorded across the portfolio. The results have validated two priority copper-gold prospects — Vemasse and Scorpion — which will anchor Tivan’s maiden drilling campaign, targeted for Q4 2026.
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Two priority prospects emerge from the Baucau Project
The Baucau Project is the standout performer from this sampling round. A total of 331 rock chip samples were collected there, returning assay results of up to 6.87% Cu, 24.70 g/t Au and 2.68% Co. These results have reinforced prior findings and provided further evidence of widespread high-grade copper-gold mineralisation across the project area.
Two copper-gold prospects have now been validated at Baucau and elevated to priority status: Vemasse and Scorpion. Each exhibits a distinct geochemical signature and geological setting, which the company says demonstrates the broader polymetallic prospectivity of the project.
Vemasse — a coherent sulphide trend takes shape
Rock chip sampling at Vemasse has identified a coherent Cu-Ag-Zn-S ± Se ± Bi geochemical trend, with 13 anomalous samples collected over a 300m strike length across a 3km x 3km sampling area. The coincident copper, zinc, silver and sulphur geochemical response is considered indicative of a sulphide-bearing hydrothermal system, with the accompanying selenium and bismuth providing additional support for a potentially magmatic hydrothermal or volcanic-hosted mineral system.
The Vemasse Prospect sits within the Maubisse Formation, a geological sequence comprising volcanic, volcaniclastic, carbonaceous shale and carbonate rocks. This setting is considered favourable for hydrothermal mineralisation. Follow-up geological mapping, rock chip sampling and ridge and spur sampling is planned to further define the geometry and controls of mineralisation and assess the potential for volcanic-hosted massive sulphide (VMS)-style or structurally controlled Cu-Ag-Zn mineralisation.
Scorpion — a polymetallic anomaly spanning 1,000m x 800m
At the Scorpion Prospect, sampling across 70 rock chip samples has identified a significant polymetallic geochemical anomaly extending over an area of approximately 1,000m by 800m. The geochemical associations are strongly anomalous for Ni, Cu, Co, Cr and Mg, supported by the presence of serpentinite, which indicates a strong ultramafic component. The additional association of Au, Ag, Te, Se and S points to a significant sulphide and hydrothermal overprint, consistent with a potential mafic-ultramafic-associated Ni-Cu-Co system.
Scorpion is hosted within the Bobonaro Scaly Clay, a regionally extensive tectonic mélange — a highly deformed geological unit containing exotic blocks of sedimentary, volcanic, metamorphic and ultramafic rocks. The scale and multi-element nature of the results have established Scorpion as a priority prospect, with work now focused on advancing and prioritising drill targets for first-pass drilling.
| Prospect | Project | Key Grades | Anomaly Scale |
|---|---|---|---|
| Vemasse | Baucau | Up to 6.87% Cu, 24.70 g/t Au | 300m strike trend across 3km x 3km area |
| Scorpion | Baucau | High-grade Cu, Au, Ni, Co; anomalous Te, Se, S | ~1,000m x 800m |
| Ossu Bridge | Ossu | Up to 2.5% Cu, 7.26 g/t Au | Anomalous clusters under further definition |
| Turiscai | Turiscai | Up to 0.58% Cu, 0.02 g/t Au | UAV survey underway across project area |
What is rock chip sampling — and why do these results matter?
Rock chip sampling is a first-pass exploration technique where geologists collect fragments of exposed rock at the surface and test them for metal content. It identifies which areas of a project are worth drilling. It does not define a mineable resource, but it is the essential first step toward one.
The results in this announcement are reported under the JORC Code, 2012 Edition — the Australasian standard for disclosure of exploration results. JORC compliance means the sampling methodology, laboratory procedures and quality controls have been documented and reviewed by a qualified Competent Person, giving investors confidence that the grades reported are real and reproducible.
One important operational improvement in this program is worth noting. Tivan has transitioned its assay workflow from Australian laboratories to Intertek Laboratories in Jakarta, Indonesia. Previously, samples had to be exported to Australia, a process involving international freight, import requirements, irradiation and extended lab turnaround times. The new pathway has significantly improved assay turnaround times, enabling analytical data to be returned to Tivan’s geology team more quickly and incorporated into the evolving exploration model in a more timely manner. Faster data flow means faster drill target definition — and that means nearer-term catalysts for shareholders watching this program.
Drilling campaign and next steps across the portfolio
Tivan’s maiden drilling program is targeted for Q4 2026 at the Baucau and Ossu Projects, with Turiscai drilling planned for Q2 2027 following the monsoonal season. To get there, the company has outlined a clear near-term workflow:
- Integrate latest sampling results with geological mapping and UAV magnetic, LiDAR and photogrammetric data as they become available — a high-resolution UAV survey covering approximately 57km² is currently underway across Turiscai and Baucau.
- At Vemasse: further geological mapping and geochemical sampling to define the geometry and controls of mineralisation.
- At Scorpion: follow-up work to define the extent and continuity of the anomaly and its geological and structural controls.
- At Ossu Bridge: geological mapping and geochemical sampling to refine areas of interest. Tivan notes the geochemical response at Ossu is more discontinuous than at Scorpion, with anomalous samples occurring as isolated clusters separated by areas of unmineralised limestone — further work is required to understand the controls on mineralisation.
- At Turiscai: integrate existing and ongoing exploration results with UAV survey data to refine geological and structural interpretations and identify priority targets.
The regional setting adds meaningful context. Timor-Leste sits within the same geological province as some of the world’s most significant copper-gold deposits, including Grasberg (Central Papua, Indonesia), Ok Tedi and Wafi-Golpu (Papua New Guinea). That geological address does not guarantee discovery, but it frames the prospectivity argument Tivan is building toward.
On the tenure front, Tivan has executed a Binding Term Sheet with state-owned mining company Murak Rai Timor E.P. for the establishment of a joint venture over both the Baucau and Ossu Projects — a signal of local government alignment with the program. The company has also executed a Binding Term Sheet with Iron Fortune Pty Ltd granting Tivan an option to acquire an additional Exploration and Evaluation Licence located immediately west of the existing Baucau concessions.
Tivan’s joint venture with Murak Rai Timor E.P. formalises the in-country partnership structure underpinning the Baucau and Ossu exploration programs, providing the local government alignment that supports Tivan’s path toward maiden drilling.
Executive Chairman Grant Wilson
“Our report today illustrates the material progress Tivan is making in Timor-Leste and the steep knowledge curve we are ascending, transforming world-class prospectivity into actionable drilling targets, all with the strong support of local stakeholders and the Government of Timor-Leste.”
That in-country commitment is backed by regular on-the-ground presence. Wilson himself visits the projects regularly, accompanied by Special Advisor Major Michael Stone (Ret’d), reflecting the senior-level engagement Tivan has built into its Timor-Leste program.
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Investment case — building toward a maiden drill program
This announcement meaningfully advances Tivan’s investment thesis. The 574-sample program has significantly expanded the company’s geochemical dataset and sharpened the targeting framework across three project areas.
Two priority prospects have now been defined with distinct mineralisation styles: a potentially VMS-style Cu-Ag-Zn system at Vemasse, and a mafic-ultramafic-associated polymetallic system at Scorpion. Each brings a different risk-reward profile, and together they represent the breadth of opportunity the Baucau Project is beginning to express.
Timor-Leste remains significantly underexplored with very limited historical exploration. That positions Tivan as an early mover in a geologically prospective jurisdiction where the exploration data curve is still steep. The near-term data catalyst to watch is the UAV magnetic survey currently underway — that dataset will inform where drill collars are ultimately placed. The Q4 2026 maiden drilling program remains the primary milestone for investors tracking this story.
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