IVR investigator resources ltd

Ann: Cash sale of NT fluorite interest, page-2

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    Highlights:
    • Sale of ~30% of Mount Sainthill EL and non-core Oorabra MLs for total consideration of
    $1.075M to fluorite explorer/developer Tivan Limited (ASX:TVN, Tivan)
    • Subdivided Northeast portion of tenement not considered prospective for tungsten
    • Investigator to receive $400k cash on signing of binding term sheet
    • Further cash payments on tenement transfer, announcement of fluorite mineral resource
    estimate and production milestones
    • Part of the consideration will be paid to Molyhil JV partner Thor Energy Plc (AIM, ASX:
    THR, OTCQB: THORF, Thor) recognising residual ownership
    • Agreement allows reciprocal rights for Investigator to continue to explore for all other min-
    erals on Tivan’s acquired ground and Tivan to explore for fluorite within a designated area
    of the remaining Mount Sainthill EL
    Investigator Resources Limited (ASX: IVR, “Investigator” or the “Company” is pleased to report
    that it has entered into a binding agreement with ASX listed Tivan Limited (ASX:TVN) to sell a to
    be subdivided area of the Mount Sainthill Exploration License.
    Commenting on the sale agreement, Investigator’s Managing Director, Andrew McIlwain said:
    “During a conversation with Tivan’s Head of Northern Australia at the NT Resources Conference
    that I recently attended in Darwin, the fluorite potential on the Mt Sainthill EL that surrounds the
    Molyhil project was discussed.
    “Tivan are advancing the Speewah fluorite project, Australia’s only JORC fluorite resource and
    hold tenements north of the Mt Sainthill EL, which they refer to as their Sandover Project, with
    fluorite identified close to the northern boundary of the Mt Sainthill EL.
    “Fluorite mineralisation, first discovered in 1970, occurs on the Mt Sainthill EL, and a number of
    the Mining Leases associated with historic production remain.
 
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