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  • Triton Minerals Intersects High Grade Graphite At Nicanda Hill 0 comments
    Jun 23, 2014 8:34 PM

    Triton Minerals (ASX:TON) continues to underscore the world class potential of its Balama North graphite project in Mozambique with drilling intersecting multiple high grade zones at the Nicanda Hill prospect.

    Impressively, the high grade graphite zones of substantial widths were encountered along the entire length of all drillholes completed to date.

    The continuity and consistency of graphite mineralisation over down-dip and surface extents of 500 metres and 850 metres is significant.

    This also returned a further 313 metre zone of graphitic mineralisation from surface to end of hole at hole GBND0005.

    Assay results to date show an overall higher graphite grade at Nicanda Hill than at Cobra Plains with the high grade graphite zone returning an average grade of 17% graphite carbon (GrC).

    Graphite has also been liberated during the drilling process, which is a very encouraging sign of the presence of high grade graphite zones.

    This dramatically expands the known mineralisation zone and demonstrates good continuity and consistency in the graphite mineralisation over a considerable distance.

    In addition, the drilled graphite mineralisation intersections correlate well with the zone of high electrical conductivity defined by the VTEM survey data.

    The inversion modelling of the VTEM data interpreted the graphite mineralisation to extend well beyond 150 metres depth below surface.

    "To intercept a further 313 metres cumulative width of graphite mineralisation in a single hole and still open at depth, some 500 metres south east from the last major interception is an astounding result," managing director Brad Boyle said.

    "Further, the latest assay results are demonstrating that the Nicanda Hill prospect mineralisation contains multiple high grade graphite zones averaging 11% graphite carbon.

    "These are very exciting results for Triton and continue to show the world class potential of the Balama North project."

    Drilling Details

    Triton has completed 19 reverse circulation and five diamond drill holes in the current drilling program on the Nicanda Hill prospect to test the width and potential continuity of the interpreted graphitic zone as suggested by the conductive zones identified in VTEM data.

    Initial assays have been received from reverse circulation drill hole GBNC0003 of:

    - 10 metres at 13.9% GrC from 13 metres;
    - 14 metres at 13.1% GrC from 87 metres;
    - 20 metres at 17.1% GrC from 107 metres; and
    - 8 metres at 14.4% GrC from 135 metres.

    These are contained within a broader zone of 78 metres grading 11.4% GrC at a 5% GrC cut-off.

    The geological unit from which returned the intercept of 20 metres at 17.1% GrC has been designated as the HG1 zone.

    Geologically, the HG1 zone is defined by a graphitic schist that comprises a quartz-graphite-carbonate mineral assemblage.

    HG1 was first intersected by diamond drill holes TMBD0005 and TMBD0006 that were completed in November 2013.

    These holes reported 30 metres at 17.6%GrC and 22.7 metres at 16.9% GrC respectively.

    Notably, these are located 200 metres along strike from GBNC0003.

    Diamond drill hole GBND0001, on section N2, has intersected the identical rock type that defines HG1 at a point that is 145 metres down dip from TMBD0006.

    The HG1 zone in GBND0001 is developed over a downhole interval of 34 metres from 181 metres. Assay results are pending.

    HG1 has also been intersected in diamond drillhole GBND0003 from 33 metres to 77 metres downhole.

    This intersection confirms the geological continuity of HG1 is over a strike length of 540 metres.

    In addition, the oriented diamond core from drill holes TMBD0005, TMBD0006 and GBND0001 to GBND0005 shows the graphite schist generally dips to the northwest with local folding evident.

    Triton believes this indicates the graphite mineralisation potential continued down dip to the northwest to considerably greater depths than already intersected in GBND0005.

    GBND0005, which ended at a depth of 428m, contains a cumulative thickness of 313m of graphitic schist, the remainder comprising narrow intervals of non-graphitic tonalite gneiss.

    The hole was terminated in graphite schist leaving it open at depth.

    Assays from GBND0005 as well as GBNC0002 and GBNC0009 that also intersected the identical rocks that define the target HG1 zone, are pending.

    Ongoing Exploration

    Presently the drilling has demonstrated a width of over 850 metres of graphite mineralisation at surface (extended with GBNC0016) and over 400 metres vertically.

    Additional holes are planned to the northwest of hole GBNC0007, to close off the zone of graphite mineralisation on drill line N2.

    The deep intersections of graphite mineralisation in GBND0001 and GBND0005 lends further support to this interpretation.

    Triton noted the graphite mineralisation to these depths exceed its original expectations and that it is excited that the zone remains open to the northwest.

    Drilling is yet to begin on the ridge of Nicanda Hill, which recent survey data confirms has an elevation of more than 90 metres above the collars of the drilled holes.

    To date, the trenching and drilling at Nicanda Hill Prospect has demonstrated graphite mineralization over 1.75 kilometres between drill line S1 and Trench 2.

    The company is looking to extend the known extents of the graphite mineralisation on the Nicanda Hill Prospect with further drill testing of the 5 kilometre long high electrical conductivity zone defined by the VTEM survey data.

    These drilling results have again dramatically expand the depths and width of the defined graphite mineralisation zone on the Nicanda Hill Prospect, with the zone remaining open to the north, south and west.

    Balama North

    Triton added that drilling at Nicanda Hill continues to support its view that the graphite liberates readily from the graphitic material.

    It had previously noted that graphite was liberated by proven methods of crushing, grinding, rougher and cleaner flotation, to obtain high grade graphite concentrate of up to 97.1%.

    This is similar to the graphite liberation seen with the diamond drill holes at Nicanda Hill.

    The company believes that the graphite at Nicanda Hill would be readily liberated using the same methods as Cobra Plains, increasing the likelihood of obtaining high grade graphite concentrate in the future.

    Analysis

    Balama North looks to be a "monster graphite project" in the making for Triton Minerals.

    Drilling at the Nicanda Hill prospect has returned high grade graphite zones of substantial widths along the entire length of all drillholes completed to date.

    These have also displayed continuity and consistency of graphite mineralisation over down-dip and surface extents of 500 metres and 850 metres.

    Together with the Inferred Resource of 103 million tonnes at 5.52% graphitic carbon, the fourth largest deposit by gross tonnage globally, at the Cobra Plains prospect, Triton has every reason to be confident of continued exploration success.

    Proactive Investors expects shares in Triton to trade higher today.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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