Perth, Australia (ABN Newswire) -
Triton Minerals Ltd. (ASX:TON) (Triton or Company) is pleased to provide an update on exploration and drilling activities at the Ancuabe project in Mozambique.
HIGHLIGHTS
- Initial exploratory diamond drilling intersects significant visual graphitic mineralisation
- Initial drilling confirms mineralisation is continuous over a strike length of over 550m within a 2.5km target strike length
- Multiple mineable zones of large and jumbo flake graphite intersected
- Reverse circulation (RC) rig activated on infill resource definition program
- Environment Impact Assessment (EIA) continues on schedule
- DUAT applications on schedule
- Initial feasibility study commenced
- Early works commenced with a 15km all-weather access road to sealed highway completed to T12 site
- Triton confident of establishing a world class and world leading graphite project
Triton's Managing Director & CEO Brad Boyle said: "The intersection of this large graphitic mineralisation zone at Ancuabe is a very exciting development for Triton, as it creates more development opportunities.
The identification of multiple visual zones of large and jumbo flake graphite over considerable distances is once again verifying the world class nature of the Ancuabe location and the accuracy of the VTEM data. Triton is now aiming to define a JORC complaint resource at T12 by the end of 2015.
This most recent discovery of high quality graphitic mineralisation puts Triton in the unique position to customise TMG products to suit a very diverse market end users, by providing the best range flake graphite sizes."
Triton's Technical Director Alfred Gillman stated: "Given the great reverence with which "Ancuabe graphite" has within the global graphite industry, the T12 greenfields discovery is a truly exciting development and is the culmination of Triton's carefully considered exploration efforts and development strategy combined with the Company's demonstrated expertise in the graphite business. Achieving the world's best flake graphite results from initial metallurgical scouting test work earlier this year was the trigger for committing to the Ancuabe program. The visual observations from our first round of drilling are well beyond even our own expectations and we anticipate further positive outcomes as exploration and project development continues"
T12 Mineralisation
Based on initial visual inspections of the drill core from first five diamond drill holes and three RC drill holes from the T12 target, initial visual estimates indicate the mineralisation zone to be approximately 100 metres wide at surface and up to 50m in true thickness down hole comprising of a number of high, medium and low grade graphite zones. Assay results for the drill core are pending.
Continuous graphitic exposures were discovered by ground validation of the associated VTEM anomaly. True intersections of graphite mineralisation have subsequently been confirmed by five diamond drill holes.
To date, the target zone has been confirmed by drilling to be continuous over a 550m strike length and remains open to the north east, north west and at depth. Based on the interpretation of the T12 VTEM anomaly, Triton estimates the mineralisation zone has a potential strike length of over 2.5kms. The target zone projects from the drill intersections to surface exposure as there is either little or no overburden (Figure 1 in link below).
Triton is rapidly advancing the development of the T12 target area with the aim of defining a JORC compliant resource by the end of 2015 which is within the 6-12 month time frame originally anticipated.
Further extensional exploration, likely to commence in 2016 as originally anticipated, will continue over several additional large targets located further to the east. Road access is currently being established to these sites.
Triton confirms that the EIA continues to progress well and is on track for completion by June 2016. DUAT applications (land use license) have commenced together with the initial feasibility study.
In order to streamline and minimise the development timeline and associated costs Triton is planning to utilise the established infrastructure and strategic alliances. However, a 15km all-weather access road connecting the T12 site to the sealed highway has been completed and will provide a more direct access route to nearby Pemba.
CONCLUSIONS
The identification of significant graphite mineralisation provides Triton greater confidence in being able to demonstrate economic quantities of large and jumbo flake graphite at the Ancuabe project in the near term.
In addition to the recently discovered P66 zone at Nicanda Hill, the T12 graphite discovery could complement the Triton Minerals Graphite (TMG) products range and provide the Company with the potential to produce large volumes of high grade (high value) graphite in the full range of flake sizes, thereby accommodating a wider range of end-user requirements.
Triton continues working towards establishing TMG as a new global graphite-industry benchmark, by aiming to offer the world's lowest cost and most diversified graphite product range together with the longevity of a reliable supply of high quality flake graphite.
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TON-734017.pdf
About Triton Minerals Ltd:
Triton Minerals Ltd. (ASX:TON) is an ASX listed, responsible mineral explorer and resource management company headquartered in Perth, Australia.
Led by a highly experienced management team, Triton Minerals' vision is to grow shareholder's value through discovery or development of base metal, gold and other precious metal deposits.
Triton has made excellent progress with its three Graphite projects located in the Cabo Delgado Province in Mozambique, with the program successfully identifying a number of graphitic exposures.
It is the Company's belief that the Mozambique, Balama North Project could host multiple and very substantial world class graphite deposits.
Contact:
Triton Minerals Ltd.
Brad Boyle
T: +61-8-6489-2555
F: +61-8-9388-1252
E: info@tritonmineralsltd.com.au
www.tritonmineralsltd.com.au
