Multiple High-Grade Graphite Zones Confirmed at Nicanda Hill
Perth, July 7, 2014 AEST (ABN Newswire) - Triton Minerals Ltd (
ASX:TON) ("Triton", "the Company") is extremely pleased to confirm additional assay results from the RC drilling program, has now verified newly identified high grade zones of the graphite mineralisation at Nicanda Hill.
Triton Minerals Managing Director Brad Boyle said "The identification of even more high grade zones to the west of the orginal HG1 zone, whilst maintaining an overall average of 11% graphite carbon, is a very encouraging result for the Company.
Further, the drilling has also expanded the horizontal width of the graphite mineralization zone to an exceptional 1,000m. These are very exciting results for Triton and they continue to show the world class potential of the Balama North project."
SIGNIFICANT ASSAY RESULTS
Triton has completed twenty six (26) RC drill holes and eight (8) diamond holes in the current drilling program on the Nicanda Hill prospect that has been designed to test the width and potential continuity of the interpreted graphitic zone as suggested by the conductive zones identified in VTEM data (Figure 5 in link below).
The additional assay results for RC drill holes GBNC0004 to GBNC0009 have been received and are shown in Figures 1 and 2 and Table 1 in link below.
Significantly, at a 5%GrC cut off, GBNC0006 has returned 80m at 10.3%GrC. Within this 80m intersection are three high grade intervals at a 10%GrC cut off, which include 24m at 12.2%GrC. The geological unit from which returned the intercept of 24m at 12.2%GrC has been designated as the HG2 zone (Figure 1 in link below).
POTENTIAL OF THE HG2 ZONE
HG1 was intersected by diamond drill holes TMBD0005 and TMBD0006 that were completed in November 2013. At a 10%GrC cut off, these holes reported 30m at 17.6%GrC and 22.7m at 16.9%GrC respectively (Figure 1 in link below). With the additional drilling information from the 2014 drilling campaign, the continuity of the zone became apparent.
The latest assay results have now confirmed the presence of HG2 which is located about 400m across strike to the north west from HG1. HG2 has an interpreted true thickness of 80m with grades, to date, averaging approximately 10%GrC.
As preveiously announced, diamond drill hole GBND0001 on section N2, has intersected the identical rock type that defines HG1 at a point that is 145m down dip from TMBD0006. The HG1 zone in GBND0001 is developed over a downhole interval of 34m from 181m. Assay results are pending.
As previously announced HG1 has also been intersected in diamond drillhole GBND0003 (S1.5) from 33m to 77m downhole (Figure 4 in link below). Assays are pending. This intersection confirms the geological continuity of HG1 is over a strike length of 540m. Based on the drilling to date Triton expects that HG2 will show a similar continuity.
The modeled section of Nicanda Hill is shown in Figure 3 in link below. Additional footwall and hangingwall lodes are likely to be included but this will be subject to obtaining additional drilling results.
As previously announced HG1 has also been intersected in diamond drillhole GBND0003 (S1.5) from 33m to 77m downhole (Figure 4 in link below). Assays are pending. This intersection confirms the geological continuity of HG1 is over a strike length of 540m. Based on the drilling to date Triton expects that HG2 will show a similar continuity.
The modeled section of Nicanda Hill is shown in Figure 3 in link below. Additional footwall and hangingwall lodes are likely to be included but this will be subject to obtaining additional drilling results.
To date the trenching and drilling at Nicanda Hill Prospect has demonstrated graphite mineralization over 2.5km between drill line S5 and Trench 2 (Figure 5 in link below). The Company is looking to extend the known extents of the graphite mineralisation on the Nicanda Hill prospect with further drill testing of the 5km long high electrical conductivity zone, defined by the VTEM survey data.
These drilling results continue to expand the depths and width of the defined graphite mineralization zone on the Nicanda Hill prospect, with the zone still remaining open to the north, south and west.
With the identification of the multiple high grade graphite zones, the drilling program has now been refined to focus on the interception and delination of these zones.
A systematic multi-element assaying program will also commence in order to assess the potential for economic concentrations of vanadium as is suggested by the multiple occurrences of vanadium hosting roscoelite (K(V3+, Al, Mg)2AlSi3O10(OH)2) mineralization in the drill samples returned to date.
The Company confirms that the second diamond drill rig has arrived at site and is engaged to provide additional drilling support in the current drilling program at Nicanda Hill, to ensure that the key exploration objectives are achieved in a timely fashion.
SCOPING STUDY
Due to strong drilling results currently being obtained, Triton confirms that the refined scoping study, which was initially focused on the Cobra Plains deposit alone, has now been extended by the Company to include the Nicanda Hill prospect.
Further, Triton verifies that the Balama North scoping study will now be escalated to be based on, if not entirely, on a high proportion of an indicated resource as classified by the JORC 2012 guidleines.
IMPLICATIONS
These drilling results continue to demonstrate that the Balama North project can potentially host a market leading and world class high grade graphite deposit and could become one of the largest high-grade graphite projects in the world.
The strategy of testing the full stratigraphic width and downdip extensions enables the Company to assess the scale of the deposit in order to better plan for resource-conversion drill spacing and the targeting of higher quality mineralization that may amenable to open pit extraction. As such, the drilling program will be modified to accelerate the conversion from the expected future inferred JORC resource to indicated JORC resource, in the areas that would most likely support mining activities.
Triton is extremely confident of continued exploration success and is looking forward to providing further exploration updates to the market, as the information becomes available.
To view all figures and tables, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TON-683158.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.
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