Foster Stockbroking Research Report
Perth, June 6, 2014 AEST (ABN Newswire) - Triton Minerals Ltd (
ASX:TON), ("Triton", "the Company") is please to advise a equity research report prepared by Foster Stockbroking has now been uploaded to the Triton Minerals Ltd website and is available for reading. The was not commissioned by the Company.
The equity research report can be access under the Investor/Broker Reports tab on the company website at:
http://www.tritonmineralsltd.com.au
Below are some of the highlights from the equity research report.
INVESTMENT HIGHLIGHTS
- Triton Minerals (ASX:TON) is a graphite explorer/developer with projects in Mozambique. Its flagship asset is its 60% interest (earning up to 80%) in Balama North. This project is only 3km from Syrah's world class Balama resource.
- Earlier this year TON announced a maiden JORC inferred resource of 103Mt for Cobra Plains deposit in Balama North, with grade 5.52% for 5.72Mt contained graphitic carbon. In terms of amount of contained graphitic carbon, we estimate the deposit ranks 5th in size globally. The resource envelope is ca. 5km long, 400m wide, and 150m depth with only 0-3m overburden. This points to a low strip ratio should it be mined.
- However significant upside exists. Drill results outside the resource - on the adjacent Nicanda Hill deposit - have been exciting (316m intersection and 750m width), and indicate the Balama North strike to be at least 7km , with TON estimating 10km. TON have also identified graphite in an 8km zone (Charmers and Black Hills) nearby Cobra Plains and Nicanda Hill.
- Using the drill results outside the resource, as well as results from trenching, mapping, and sampling, TON and consultant Optiro have identified a cumulative exploration target of 760Mt to 1,290Mt at Balama North in addition to the JORC. If TON were to eventually measure a resource at the upper end of the target, it would be comparable in scale to Syrah's Balama.
- The company is aiming for a resource update in 1QCY2015. Further work this year comprises more drilling and metallurgical work. A scoping study is aimed to be concluded in July which should put some approximate economics around the current resource.
- Metallurgy is in early stages and preliminary results only on Cobra Plains suggest a crush, grind, and flotation circuit can be effective with total carbon (TC) recovery of 96%, and total graphitic carbon (TGC) of concentrate 94.5%. 30% of mass recovered is fine-to-coarse flake size (>75micron). However TON has noted that from sampling at Nicanda Hill that flake size seems coarser than Cobra Plains, with very coarse size (>500 microns) recorded. Further work is required to clarify flake distribution at Balama North.
- Infrastructure is supportive. Balama North is adjacent to a main highway (which also runs past Syrah's deposit) that runs 230km to the deep water port at Pemba.
To view the full equity research report, please visit:
http://media.abnnewswire.net/media/en/docs/77333-TON140606.pdf
About Triton Minerals Ltd
Triton Minerals Limited (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.
| ||
|
