Tivan (ASX:TVN) said a mineral resource estimate update showed an increase of 16% in total resource tonnage and an increase of 6% in total contained calcium fluoride, compared to the MRE conducted in April 2024, at the Speewah fluorite project, according to a Wednesday filing with the Australian bourse.

The upgrade also shows further potential for extension of mineralized zones and new areas of mineralization outside the resource, the filing said.

The project now has an indicated and inferred resource of 43.2 million tonnes at a grade of 8.3% calcium fluorite, containing 3.6 million tonnes of calcium fluorite, the filing added.

The company expects to complete a feasibility study on the project later this month.

Shares of the company rose 2% in recent Wednesday trade.