Triton may have “double” the original estimation for the graphite exploration targets
Tracy Weslosky, Editor-in-Chief and Publisher of InvestorIntel speaks to Brad Boyle, Managing Director for Triton Minerals (‘Triton’, ASX: TON) about the drilling results from the Nicanda Hill prospect at the Balama North graphite project in Mozambique published on May 19. The results are described as “exceptional”. The most exciting part, says Brad, is that there are “220 meters of continuous mineralization…which demonstrated that the mineralization has substantial depth.”
The mineralization itself was found to be similar to what was uncovered by diamond drilling at Nicanda Hill. The other encouraging sign is that the drill line itself has substantial width. Brad believes that these latest drilling results suggest that “we have been quite conservative with our original estimation for the exploration targets….The targets were in the range of about 1.2 billion tons, but the BTN that we have there looks like it could almost be double the size of the original exploration targets.” In short, Triton’s potential is far greater than expected considering the already favorable results published last February and 2014 could be a very exciting year.
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Triton, as Tracy points put, has seven exploration licenses for projects in Australia and Mozambique. Triton, in fact, has gathered encouraging data from the Nicanda Hill, Black Hills and Charmers prospects, including graphitic carbon assays ranging from 15.1% to 18.9%, suggesting that Triton is sitting on a significant deposit. There is also a Balama South zone, which Triton has yet to explore properly, but which could prove equally as favorable as Balama North — which remains for now, at the Cobra Plains prospect, the main focus of the project with its maiden resource of 103 million tons, making it “the fourth largest deposit in the world.” Triton believes it has gathered sufficient data to prepare a JORC resource estimate for Cobra Plains, as it proceeds with the exploration and drilling of the other identified targets. The Nicanda Hill target — the results of which are cited above – is connected to Cobra Plains. To clarify, the four prospects of Nicanda Hill, Cobra Plains, Black Hills and Charmers make up the Balama North property.
Rather than being interspersed with hard rock material intrusions like quartz or granite, “this is a very soft composition….which means that when it comes to processing, it is a lot quicker and easier, and a lot more energy efficient.” Brad says that high energy costs and arduous processing can make projects overly expensive and inefficient “diminishing the quality”; whereas, “the low strip ratio potential and the soft composition make Balama such an exciting prospect.” Brad also adds Syrah Resources, which owns the prospect adjacent to Balama is running one of the lowest cost graphite projects in the world at some USD$ 500/ton — consider that flake graphite can cost anywhere from USD$ 1,800 to USD$ 3,000 per ton. The closeology factor with Syrah was evidently one of the most attractive features of the Balama North deposit, which will facilitate Triton’s course toward production.
Disclaimer: Triton Minerals is an advertorial member of InvestorIntel
An accomplished entrepreneur and corporate finance professional, Tracy Weslosky is the CEO for InvestorIntel Corp. and the VP of Business Development for Bellotti Capital Partners ... <Read more about Tracy Weslosky>