This was from work programs completed in late 2013. In terms of highlights of this phase of exploration, there were many.
Notably, ALL of these programs have returned high grade graphite mineralisation.
Now while the results to date have been strong, today's results in totality given multiple zones and high grades paint a picture of significant global scale graphite deposits.
The results continue to reinforce and build on previous results which had already demonstrated multiple zones of high grade graphitic zones with significant widths, including intersections of up to 28.6% graphite carbon near surface.
In terms of highlights of this phase of exploration, there were many.
While as an overview, the infill drilling results confirmed the continuity of high grade graphite mineralisation throughout the Cobra Plains prospect.
Trenching has also confirmed high grade graphite mineralisation extends over the Nicanda Hill prospect north of previously announced drilling with length-weighted average graphite carbon grades including:
- 120 metres at 11.38% Graphite carbon (GrC)
- 101.5m at 10.9% GrC
- 42m at 13.35% GrC
- 30m at 13.55% GrC
While numerous significant weighted average graphite carbon intersections returned from the drilling program at Nicanda Hill prospect which included:
- 14.7m at 18.7% from 3.3m (TMBD0005)
- 9.2m at 12.3% from 19.3m (TMBD0005)
- 15.5m at 11.2% from 33.8m (TMBD0005)
- 9.2m at 12.3% from 19.3m (TMBD0005)
- 15.5m at 11.2% from 33.8m (TMBD0005)
- 32.5m at 8.19% from 2.3m (TMBD0006)
- 38.5m at 13.95% from 88m (TMBD0006) including 25.2m at 18.45%
Still further, multiple high grade graphite assays were reported from rock chips were collected from Charmers (up to 18%) and Black Hills (up to 17.6%) prospects.
Triton Minerals managing director, Brad Boyle
As Triton managing director Brad Boyle said "Once again the Balama North project continues to deliver strong exploration results.
"The results from the rock chip and trenching sampling programs over the Black Hills prospect, Charmers prospect and the northern continuation of the Nicanda Hill prospect have confirmed the presence of quality graphite exploration targets beyond the known zones at Cobra Plains and the southern part of Nicanda Hill.
"These results further demonstrate the exception potential of the Nicanda Hill, Charmers and Black Hills prospects to possibly host significant world class high grade graphite deposits.
"Additionally, the infill drilling program at Cobra Plains prospect demonstrates the continuity of the high grade graphitic mineralisation over a 5km strike length.
"These recent results also increase the possibility of the graphite mineralisation extending further north into the Nicanda Hill prospect."
Nicanda Hill Prospect
Highlights of this channel sampling program on the two trenches included 10.89% weighted average graphite carbon over a distance of 101.5m (Trench NH_T1B from 0m) and 11.38% weighted average graphite carbon over a distance of 120m.
These channel samples provide further support that the graphite mineralisation zone in this primary target area has a substantial depth, width and length within the prospect.
It is the continuity of the graphite mineralisation zones at the Nicanda Hill prospect (e.g. 156m cumulative down hole thickness of graphitic schist in TMBD0006 and the zone remains open to the north) and high graphite grades which are highly encouraging.
Yet, exploration on the Nicanda Hill prospect was restricted to a short period between grant of the Licence 5966 and the onset of the seasonal rains.
So it would be with some confidence that Triton is confident of delineating a significant resource with further exploration over the known 3.75km strike length of graphite schist specifically at the Nicanda Hill prospect and within the potential 2.4km strike continuation south into the Cobra Plains prospect.
Samples from the diamond drilling for petrographic analysis to further investigate the graphite flake and gauge mineralogy at Cobra Plains and Nicanda Hill.
The company said it is hopeful of confirming additional large-flake graphite zones at the Cobra Plains and Nicanda Hill prospects, similar to the large-flake graphite reported on 4 November 2013, for rock chips taken at the Nicanda Hill prospect.
Thus, these latest results provide Triton further confidence in the potential of the Nicanda Hill prospect to host a world class high grade graphite deposit.
Charmers and Black Hill Prospects
The results from the reconnaissance rock chip sampling over parts of the Charmers and Black Hills prospects have demonstrated the high prospectivity of these two new exploration targets.
Significant graphite carbon assay results from the rock chip program include 18%, 18.9%, 17.6%, 15.9% and 15.1%,
Again Triton said it is encouraged by these initial rock chip results from the Charmers and Black Hills prospects, as they have shown a number similar physical characteristics and graphite grades to those initially discovered in the rock chip samples from the Nicanda Hill prospect, where drilling on this prospect has shown very high grades of graphite mineralisation up to 28.6%.
Cobra Plains Prospect
Assay results from the infill RC and Diamond drilling program completed at the Cobra Plains prospect in November 2013 have been received.
Some of the stand out weighted average graphite carbon intersections from the RC and diamond drill holes at the Cobra Plains prospect include:
- 13 metres at 8.1% from 73m (TMBC0005)
- 17m at 9.8% from 2m (TMBC0017)
- 4m at 12.4% from 16m (TMBC0018)
- 8m at 9.3% from 36m (TMBC0018)
- 8m at 11.6% from 51m (TMBC0038)
- 7.7m @ 11.0% from 31.7m (TMBD0001) including 1.1m at 17.6%
Again there are highly encouraging results from the second phase of drilling. Three diamond holes that twinned three phase 1 RC drill holes confirm the high grade graphite mineralisation zones within the Cobra Plains prospect.
With an eye to the scale of graphite zones that are building at its project and prospects, this program confirmed the presence of quality graphite exploration targets beyond the known zones at Cobra Plains and the southern part of Nicanda Hill.
It opens the probability, not possibility that Nicanda Hill, Charmers and Black Hills prospects could possibly host significant world class high grade graphite deposits.
The continuity of the graphite mineralisation zones at the Nicanda Hill, including 156m cumulative down hole thickness of graphitic schist and high graphite grades at 28.6% graphite carbon are exceptional.
Now Black Hills and Charmers prospects are also looking highly prospective for graphite mineralisation after early exploration.
Looking forward, Triton looks to have enough data to complete a maiden JORC Resource estimate for the Cobra Plains prospect.
A sampling program has begun to undertake a metallurgical test work program, to look at processing options and form the basis for an initial scoping study.
Triton will continue with the current systematic exploration and drilling program at the Balama North project, with a focus on the Nicanda Hill prospect and the new identified targets of Charmers and Black Hills prospects.
The drilling program for the Nicanda Hill prospect will seek to further test the continuity of the high grade zones along the length of the prospect and beyond.
Then there is on-ground exploration at its Ancaube and Balama South projects, which in 2013 were relegated to "second priority targets only" due to the successes achieved at the Balama North project.
So while the Triton share price has been strong since December, Proactive Investors considers this to be a drop in the bucket given the value accretion at Balama North in terms of scale of graphite.
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