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Triton Minerals Starts Drilling At Balama North Graphite Project In Mozambique

Jul. 23, 2013 2:04 AM ET
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Triton Minerals (ASX: TON) has kicked off its maiden drilling program at the Balama North graphite project in Mozambique targeting the highly prospective area around the most recent graphite mineralisation discovery.

Target 1 is the same area where the original graphitic mineralisation outcropping, with a strike length of around 3.75 kilometres was located.

Balama North project has the potential to host large scale graphite deposits that have similar characteristics to those found at the Syrah Resources (ASX:SYR) Balama graphite deposits, which are located to the southwest of this mineralisation zone.

The initial drilling program in the southern portio of the target will provide the company with greater understanding of the graphite mineralisation and potential by-products associated with the graphite.

"Given the recent results of graphite mineralisation in the Balama North project, we look forward to providing further updates to the market as the drilling and exploration programs progress in the coming weeks," managing director Brad Boyle said.

Further mapping and other work continues on both Balama North and Ancuabe project areas to better define and understand the known graphitic mineralisation areas.

Triton had earlier this month received the official approval from the Mining Minster granting two more Ancuabe exploration licenses, namely licenses 5336 and 5305, which allows the company to expand the current exploration program currently underway on the Ancuabe project.

These ensure that the company holds acreage that completely surrounds the original Ancuabe Mine.

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