The significance of the new drilling is that if Triton discovers graphite and vanadium at Nicanda Hill, it will build on the high grade graphite and vanadium drilling results already obtained at the Cobra Plains prospect within the identified 5 kilometre mineralisation zone.
This could see multiple large flake graphite deposits defined at Balama North.
Reconnaissance geological mapping at Nicanda Hill has already identified a number of graphitic exposures over a zone roughly 3.75 kilometres long.
Triton is now aiming to demonstrate further substantial graphitic and vanadium mineralisation over an additional strike length of about 5 kilometres.
Therefore the new drilling has the potential to show a continuity of graphitic mineralisation between the Cobra Plains and Nicanda Hill prospects - which would significantly expand the identified mineralisation zone up to a total length of about 10 kilometres.
Diamond drill program to commence this week
Brad Boyle, managing director, commented: "With the granting of License 5966, Triton has now commenced an exploration program on the Nicanda Hill prospect and will be in a position later this week to commence a limited diamond drilling program.
"Further, graphitic outcropping has also been located east of the Nicanda Hill prospect, significantly expanding the new graphitic mineralisation zone which was recently identified near the Cobra Plains prospect.
"These results give Triton further confidence in the graphite prospectivity of both the Nicanda Hill and Cobra Plains prospects and is increasing the overall potential of the Balama North project to host multiple very large flake graphite deposits."
Triton said that the diamond drilling program at the Cobra Plains prospect has now been completed, with drill samples for all intersected graphite zones to be sent to the South African laboratory for analysis.
Initial results will be from around mid-December.
Triton will have some highly anticipated news flow over coming months starting with assays from the Cobra Plains prospect later in the year, to be followed by results from the new drilling program at the Nicanda Hill prospect.
The news flow will provide the next key share price catalysts for the company, which is targeting an expanded mineralisation zone up to a total length of about 10 kilometres. This could see multiple large flake grahite deposits defined.
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