Annual and Final Technical Report Exploration Licence 32369 13 August 2023 - 22 July 2024

Abstract

This is the Final Surrender Report for EL 32369. It presents a summary of previously reported exploration over the life of the title since grant on 13 August 2020, and includes a description of work conducted during the reporting period from 13 August 2023 to cessation of title on 22 July 2024. EL 32369 was located approximately 300 km southwest of Alice Springs. It covered an area of aeolian desert dune sand containing a large but low-grade ilmenite and magnetite heavy mineral sand (HMS) accumulation, likely derived from a magnetite-bearing gabbro within the Musgrave Province rocks to the south, which was brought to Inferred Resource status by Globe Mineral Resources International. Tivan Limited acquired the title with the intention of assessing the magnitude of the HMS prospect, and whether concentrate material would be amenable to treatment via the Company's TIVAN process. No on-ground exploration was conducted on EL 32369 over the life of the title. In 2023 the Company announced that it was now recognising its Speewah (WA) Project as Tivan's flagship project, and was prioritising its development planning as the core mission of the Company. Given the priority focus on Speewah, the Company made the decision to relinquish EL 32369. Enigma Mining Limited surrendered all rights and interest in EL 32369; cessation of the title occurred on 22 July 2024.