It will now expand the current exploration program, which has previously been focused on drill testing the 5 kilometres long graphite and vanadium mineralisation zone at the Cobra Plains Prospect in Licence 5365.
"The granting of Exploration License 5966 now provides the Company the ability to start exploring the highly prospective graphite area of Nicanda Hill Prospect," managing director Brad Boyle said.
"Reconnaissance geological mapping has identified a number of graphitic exposures over a zone roughly 3.75 kilometres long."
He added the company hoped to build on the graphite and vanadium mineralisation identified to date at Cobra Plains with the exploration program, bringing it closer to investigating the potential of the Balama North project to host multiple very large graphite deposits.
The company is now redefining its exploration program to obtain a better understanding of substructures and to test continuity of graphite mineralisation between the Cobra Plains Prospect on License 5365 and Nicanda Hill Prospect on License 5966, which now spans over 10 kilometres in length.
Triton has recently intersected up to 105 metres of graphite mineralisation on Drill Section 1.5 at Cobra Plains.
Reverse circulation drilling has confirmed the graphitic mineralisation between the previous Drill Sections and has managed to substantially widen the known mineralisation zone between Drill Sections 1 and 3.
This is a strong indicated of what the company might find at Nicanda Hill given that graphitic mineralisation exposures identified in both prospects show a number of physical similarities.
Additional exploration is expected to show the continuity of graphite mineralisation between the two prospects.
The company will also expand the exploration program to include and investigate the additional graphitic zones recently mapped east of graphite mineralisaton zone at the Cobra Plains Prospect, which has been the focus of drilling to date.
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