EDITOR: | October 28th, 2013

Balama North Project “Nicanda Hill” Drilling to Commence

| October 28, 2013 | No Comments
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October 28, 2013 (Source : Triton Minerals Limited) — HIGHLIGHTS:

  • Exploration continues at Balama North project
  • Diamond drilling to commence this week on the Nicanda Hill prospect
  • Additional graphitic outcropping identified east of Nicanda Hill mineralisaton zone
  • Diamond drilling completed at Cobra Plains prospect

Triton Minerals Limited (ASX: TON, “Triton”, “the Company”) is very pleased to confirm that the final preparations are almost complete in order to start the diamond drilling program at Nicanda Hill prospect in the Balama North project.

Triton Managing Director Brad Boyle said “With the granting of License 5966, Triton has now commenced an exploration program on the Nicanda Hill prospect and will be in a position later this week to commence a limited diamond drilling program.

The Company is hoping to build on the high grade Graphite and Vanadium drilling results already obtained at the Cobra Plains prospect within identified 5km mineralisation zone .

This exploration program will be focused on the Nicanda Hill prospect where reconnaissance geological mapping has already identified a number of graphitic exposures over a zone roughly 3.75km long. The aim of this current program is to demonstrate further substaintial Graphitic and Vanadium mineralisation over an additional strike length of about 5kms.

Thus, this program has the potential to show a continuity of graphitic mineralisation between the Cobra Plains and Nicanda Hill prospects, which would significantly expand the identified mineralisation zone up to a total length of about 10kms.

Further,  graphitic  outcropping  has  also  been  located  east  of  the  Nicanda  Hill prospect, significantly expanding the new graphitic mineralisation zone which was recently identified near the Cobra Plains prospect.

These results give Triton further confidence in the graphite prospectivity of both the Nicanda Hill and Cobra Plains prospects and is increasing the overall potential of the Balama North project to host multiple very large flake graphite deposits.”

Figure 1

Figure 1. Interpreted geology of the Balama North Project showing the interpreted position of the graphite schist confirmed by drilling or outcrop. Geological domains defined on the basis of geophysical characteristics and in relation to Syrah Resources’ Balama Deposit (approximate extent shown in red). Map datum – WGS84 Zone 37 South.

The Company confirms the diamond drilling program now now been completed at the Cobra Plains prospect. Drill samples for all intersected graphite zones have been collected and are soon to be delivered to the South African laboratory for analysis.

The Company is optimistic of obtaining some initial laboratory results on these drill samples by mid December 2013.

The diamond drilling in conjunction with the RC drilling results from the Cobra Plains prospect will provide Triton a better understanding of the orientation and structural composition of the graphitic mineralisation zone and will be used in preparation for resource definition.

With the completion of drilling activities at Cobro Plains the Company’s focus is now centred on exploring as much of the Nicanda Hill prospect before the wet season begins in late November 2013.

The Company is optimistic of showing continuity of graphite mineralisation between the two prospects and is confident of duplicating some of the high grade Graphite and Vanadium intersections which were previously obtained at the Cobra Plains prospect.

This exploration program will be focused around the previously identified graphitic exposures located at Nicanda Hill and with the aim of delinating further substaintial Graphitic and Vanadium mineralisation, over an additional strike length of about 5kms, to increase the identified mineralisation zone up to 10kms long.

Figure 2

Figure 2. Image of Graphitic outcropping located east of the Nicanda Hill prospect on License 5966 in the Balama North project.

The Company is also pleased to advise further graphitic outcropping, which is showing a number of physical simarilities to the graphitic material located at both the Cobra Plains and Nicanda Hill prospects, has been identified to the east of the Nicanda Hill prospect.

Initial reconnaissance geological mapping is showing that the new graphitic outcropping zone is extending south into License 5365, making the new zone about 3kms long. To the north additional outcropping of about 1km in length has been idenfitied, giving Triton further confidence in the potential to demonstrate the continuity of graphitic mineralisation between the two licenses.

These results give Triton further confidence in the graphite prospectivity of both the Nicanda Hill and Cobra Plains prospects and continues to increase the overall potential of the Balama North project to host multiple very large flake graphite deposits.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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