Tivan (ASX:TVN): How Are Copper-Gold Drilling and Speewah Plans Progressing?

Aditi Sarkar

11 November 2026 03:37 PM AEDT

Tivan (ASX:TVN): How Are Copper-Gold Drilling and Speewah Plans Progressing?

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Highlights

Tivan (ASX:TVN) traded at AUD 0.175 on 11 November 2026, up 6.06% during the session.
Maiden diamond drilling commenced at the Scorpion prospect in November 2026.
Speewah fluorite Mineral Resource estimate was updated in early November.
September-quarter disclosures detailed copper-gold sampling and fluorite drilling progress.

Tivan Limited (ASX:TVN) develops and explores critical mineral projects in Australia, including the Speewah fluorite project, and undertakes copper-gold exploration in Timor-Leste. Its shares were trading at AUD 0.175 on 11 November 2026, up 6.06% during the session. Recent developments include an updated Speewah mineral resource estimate and the commencement of maiden drilling at the Scorpion prospect, with project appraisal continuing on several fronts.

Projects Across Fluorite, Tungsten and Copper-Gold

Tivan (ASX:TVN) is advancing Speewah in Western Australia and Sandover fluorite and Molyhil tungsten projects in the Northern Territory. It also holds exploration interests in Timor-Leste, where programs focus on assessing copper and gold indications. These activities have different commercial stages and should not be combined into a single measure of production.

Speewah is being advanced through a joint-venture framework and technical studies. Exploration observations from Timor-Leste remain distinct from a declared Mineral Resource or an operating mine. Copper-gold assay results indicate concentrations in sampled material, not recoverable metal output or project profitability.

Speewah Studies and Resource Classification

During September 2026, Tivan (ASX:TVN) reported 12,809 metres of drilling completed at Speewah during the year, across infill, metallurgical, exploration and geotechnical work. The program was intended to support updated resource classification, engineering design and planned feasibility documentation. The company subsequently announced a Mineral Resource estimate upgrade for Speewah on 3 November 2026.

The November announcement described a larger share of the fluorite resource moving to the Indicated classification. Such classification changes are relevant to confidence in geological estimation, but an Indicated Mineral Resource is not equivalent to an Ore Reserve or a final Investment decision. Project Economics and approvals must still be evaluated.

Scorpion Drilling and Timor-Leste Exploration

Tivan (ASX:TVN) announced the commencement of maiden diamond drilling at Scorpion within the Baucau project in November 2026. Earlier September-quarter disclosures described a planned program of up to six stratigraphic diamond holes and up to 1,500 metres, following work to establish a regulatory pathway. The program is intended to obtain subsurface geological information.

Surface sampling reported during 2026 identified copper and gold mineralisation at several Timor-Leste prospects. Those results are exploration observations only; drill assays, continuity, geometry and subsequent geological evaluation will be needed before wider conclusions about deposits can be drawn. Exploration activity does not establish commercial mineability.

Development Risks and Forthcoming Milestones

Tivan (ASX:TVN) also reported progress on technical and approval work for Speewah, including arrangements for infrastructure design. Future decisions depend on the feasibility assessment, engineering costs, community engagement, permitting and funding arrangements. Scheduling for a final investment decision remains a target, not a completed commitment.

At Timor-Leste prospects, drilling conditions, assay turnaround and geological interpretation create further uncertainty. Investors can monitor published drill intercepts, changes to resource classification and the timing of project studies. The reported 11 November market movement should not be treated as proof of a commercial discovery or project completion.

Key Insights

Tivan (ASX:TVN) is progressing fluorite project assessment while beginning diamond drilling in a copper-gold exploration area. The distinction between drilling, resource estimation, feasibility work and a funded construction decision remains important when assessing subsequent 2026 developments.

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