Baucau is currently 100%-owned and comprises three granted Exploration and Evaluation Licences, with ANM's approved approximately 50-square-kilometre enlargement incorporated into MEL2023-CA-ZB004. The added area contains a 2.5-by-1-kilometre priority magnetic anomaly planned for field verification, targeted surface sampling and extended high-resolution geophysical coverage. Bulk rock-chip results have established Vemasse and Scorpion as priority prospects: Vemasse shows a coherent geochemical trend consistent with a possible sulphide-bearing hydrothermal system, while Scorpion has a polymetallic anomaly with characteristics consistent with a potential mafic–ultramafic-associated nickel-copper-cobalt system and a sulphide and hydrothermal overprint. Follow-up work integrates mapping and sampling with UAV magnetic, LiDAR and photogrammetric data to refine mineralisation controls and drill targets. Tivan has signed a Binding Term Sheet with Murak Rai Timor E.P. for establishment of a joint venture and holds an option under a Binding Term Sheet with Iron Fortune Pty Ltd to acquire an additional licence immediately west of Baucau.
- Country
- Timor-Leste
- Commodity
- Cu
- Stage
- Exploration