Multiple Graphite Zones Expanded at Nicanda Hill
Perth, July 28, 2014 AEST (ABN Newswire) - Triton Minerals Limited (
ASX:TON) ("Triton", "the Company") is pleased to confirm the next batch of assay results from the RC drilling program, has helped to better define and expand multiple high grade zones of the graphite mineralisation at Nicanda Hill.
Triton Minerals Managing Director Brad Boyle said "With the completion of the Phase 1 drilling program which was focused on drill sections N1, N2 and S1, the Company now has better understanding of the overall composition and structure of the very large, 1km wide, graphite mineralisation zone.
The results of the Phase 1 drilling program have helped Triton to refine the drilling program which is now structured to concentrate on intersecting the various high grade zones along the entire length of the strike zone at Nicanda Hill.
Further, the closed spaced drilling of the Phase 1 program continues to support the strategy of testing the full stratigraphic width and downdip extensions. In addition, this phase of drilling program is expected to provide the basis for an indicated component within an overall larger inferred JORC resource at Nicanda Hill to be estimated later this year.
These are very exciting results for Triton and they continue to show the world class potential of the Balama North project."
SIGNIFICANT ASSAY RESULTS
As of 25 July 2014, Triton has completed thirty six (36) RC drill holes and thirteen (13) 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 4 below).
The additional assay results for RC drill holes, including the remainder of GBNC0004, GBNC0010 to GBNC0016 have been received and are shown in Figures 1, 2 and 3 and Tables 1 and 2.
Significantly, at a 5%GrC cut off, GBNC0004 has returned 90m at 9.34%GrC. Within this 90m intersection is a high grade interval at a 10%GrC cut off, which include 24m at 13.18%GrC.
At a 5%GrC cut off, GBNC0011 has returned 70m at 10.1% GrC. Within this 70m intersection are high intervals at 10%GrC cut off, which includes 12m at 12.9% and 18m at 13.5%.
Hole Id From To Interval %GrC Cut Off (m) (m) (m) (%GrC)--------------------------------------------GBNC0004 3 93 90 9.34 5GBNC0010 64 148 84 9.62 5GBNC0011 8 78 70 10.11 5GBNC0014 17 36 19 9.57 5GBNC0015 65 141 76 9.10 5GBNC0016 57 93 36 9.85 5GBNC0004 9 33 24 13.18 10GBNC0011 16 34 18 13.50 10GBNC0011 66 78 12 12.90 10GBNC0016 63 81 18 11.00 10--------------------------------------------
Table 1. Significant Intersections
Phase 1 of the drilling program was focused on drill sections N1, N2 & S1, which has now clearly delineated the overall size of graphite mineralisation area, whilst identifying the multiple high grade zones including HG1.
The completion of the Phase 1 drilling program, has provided Triton a more thorough understanding of the composition and structure of the graphite mineralisation zone.
This knowledge has allowed the Company to better refine Phase 2 of the drilling program, to focus on the continuity and intersection the various high grade zones along the entire length of the graphite mineralisation strike zone at the Nicanda Hill prospect, which is up to 5kms in length.
The drilling has now confirmed and extended the known graphite minerlisation strike length to 3.2kms between drill sections N12 and S5 (Figure 4 in link below). This is supported by the encouraging graphitic returns being logged in RC holes GBNC0024 to GBNC0036 (Appendix 3 in link below) and extensive graphitic outcropping sighted near drill section N12.
Once again the drilling to date has continued to demonstrate the continuity and consistency of graphite mineralisation and the strong correlation with the VTEM survey data.
KEY POINTS
- The reported results reaffirm the multiple high grade graphite zones of substantial widths along the entire length of all drill holes completed to date.
- Further, these results continue to verify the continuity and consistency of previously identified high grade zones.
- These latest observations demonstrates good continuity and consistency in the graphite mineralisation over a considerable distance of 3.2km.
- Several individual zones form true widths of up to 95m.
- Phase 2 drilling now focused on intersecting the high grade zones.
- The drilled graphite mineralization intersections correlate strongly with the zone of high electrical conductivity defined by the VTEM survey data.
ONGOING EXPLORATION
Presently the drilling has demonstrated a width of over 1,000m of graphite mineralisation at surface (extended with GBNC0016) and over 400m vertically. Additional holes are planned to the northwest of hole GBNC0016, to close off the zone of graphite mineralisation on drill line N2.
The Company is yet to drill on of the peaks of the western slopes of Nicanda Hill, which appears to give rise to an intense VTEM response. Recent survey data confirms that the peaks of the Nicanda Hill has an elevation of more than 90m above the height of collars of the current drilled holes.
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.
A systematic multi-element assaying program is now underway 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.
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.
To view all figures and tables, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TON-685137.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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