Summary

Mine Type	Open Pit
Study Completed	Feasibility
Status	Inactive / Suspended
Commodities	Vanadium Titanium Iron Ore
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	Mount Peake Vanadium-Titanium-Iron Project was expected to be a top-10 global producer. On 30 September, 2024, Tivan advised that all tenure supporting the former development strategy at Mount Peake (Mining Leases and Access Authorities) has been surrendered; supporting Exploration Licences have also been surrendered (excluding EL31850). Associated with this, Tivan provided notice of termination of the Indigenous Land Use Agreement (ILUA) related to Mount Peake to the Central Land Council in Q3 2024. The material decline in the vanadium price over the last six months has reinforced Tivan’s view that an updated development strategy for Mount Peake is no longer justifiable.

Deposit type

• Magmatic

Summary:

The licence areas are generally flat with some broad low ridges of silcrete or ferruginous rock formations. Broad flood plains associated with the Murray Creek which runs through the licence area are also a feature.

The project area lies within the north-central portion of the Paleoproterozoic Arunta Province. The stratigraphy of the Arunta province comprises relics of 2500 Ma Archaean basement overlain by >1800 Ma Palaeoproterozoic, turbiditic sequences of greywacke, quartz, sandstone, siltstone and shale along with mafic rocks and their highgrade metamorphic equivalents. The Arunta also has minor calc-silicates and meta-felsic volcanic units. During the Barramundi Orogeny, the sedimentary units were intruded by mafic rocks which have been deformed and in places metamorphosed to amphibolite facies. During the closing stages of the Barramundi Orogeny (~1830 Ma) granite plutons intruded rocks of the Arunta Province.

In the tenement area, rocks of the Palaeoproterozoic Lower Hatches Group/ Reynolds Range Group occur, comprising undifferentiated granite/granite gneiss and gabbro-dolerite. Neoproterozoic to Palaeozoic rocks of the Georgina Basin cover the Palaeoprotoeozoic rocks in the south to southeast. Cainozoic sediments also cover parts of the tenements. Quaternary and Tertiary cover sequences of variable depth (ranging from a few metres to in excess of 100m) conceal the basement rocks. Mafic/ ultramafic units have been recorded from previous drilling within and adjacent to the tenement, enhancing the prospectivity for Ni-Sulphide and other mineralisation.

The Mount Peake gabbro body is located within outliers of Neoproterozoic sediments of the Georgina Basin. The Neoproterozoic sediments rest unconformably on metasediments and granites of the Aileron Province within the Lower Proterozoic Arunta Region. Bedrocks comprise metasediments, granites and metamorphosed basic rocks. The mineralised Mount Peake gabbros are part of a 10x20km NW trending sill or sill complex -interconnected sills at different stratigraphic levels- that will be called Murray Creek Sill. Judging from the magnetic images at least two more sills/ sill complexes are present in the eastern part of the Mount Peake sheet/ western part of Barrow Creek. The Murray Creek Sill comprises gabbros, olivine gabbros, and leucogabbros with magnetite rich olivine gabbros near the top of the sill. Where the basal contact to the sill has been intersected in the stratigraphic holes SDDH1 and SDDH2 the thickness of the sill is around 250-300 m, and the mineralised zone must be very close to the top of the sill. Most of the rocks in the sill are only moderately magnetic outside the mineralised zone near the top.

Based on summary logging of the deep diamond drill holes SDDH1 and SDDH2 the Mount Peake Ti-V-Fe ore body is hosted by a differentiated basic sill with minor ultrabasic layers. The predominant rock type is olivine gabbro with layering defined by variations in plagioclase / olivine+clinopyroxene ratios. Most of the gabbros are massive- typical of many layered intrusions-without discernible layering.

The mineralisation is hosted within a flat-lying magnetite-bearing gabbro-norite sill, believed to be of Neoproterozoic to Cambrian age that has intruded the older units - drilling has indicated large thicknesses of mineralisation (up to 170m), and exhibits good lateral continuity between drillholes.

The gabbro hosting the mineralisation is part of a 20km long x 10km wide NW trending sill or sill complex, with the mineralisation in the uppermost parts of the sill - the identified JORC- resources are confined to one part of the complex, with other areas yet to be defined, and which provide upside potential.

Mining Methods

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Comminution

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Processing

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Commodity Production

Operational metrics

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Dec 19, 2024
.......................	.......................		Dec 19, 2024

Total Workforce	Year
......	2019