Triton Minerals’ further enhances Balama North with wide zones of graphite

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Triton Minerals’ further enhances Balama North with wide zones of graphite

9:57 CAT | 16 Feb 2016

Proactive Investors Australia / Triton Minerals' latest drilling results underpin the significant and robust graphite deposit at Nicanda West.

Triton Minerals’ latest drilling results underpin the significant and robust graphite deposit at Nicanda West, which is characterised by large to jumbo flake graphite.

Key drilling results include: 31 metres at 10.4% total graphitic carbon (TGC); 8 metres at 10.3% TGC; 13 metres at 9.1% TGC; and 35 metres at 8.1% TGC.

Triton’s Balama North Graphite Project in Mozambique comprises the Nicanda West and Nicanda Hill graphite prospects.

The style of the Nicanda West deposit has similarities to the Ancuabe style of mineralisation.

Metallurgical test work has achieved high grades of graphitic carbon concentrates with a dominant proportion of large and jumbo flake.

This means that Nicanda West graphite is suitable for both battery applications and expanded graphite products.

Nicanda West is located 1.2 kilometres north west from the main Nicanda Hill deposit.

Drilling program

Drilling at Nicanda West included a total of eleven diamond drill core and three reverse circulation drillholes.

Initial assay results were from a further three diamond drilling holes that were competed at the end of 2015.

Nicanda Hill and Ancuabe

Across to Nicanda Hill, geotechnical drilling for the Definitive Feasibility Study has confirmed the robustness of the resource model.

Intersections include: 37 metres at 13.1% TGC from 20 metres.

Preliminary test work at Ancuabe has returned some of the highest quality jumbo and super jumbo flake graphite in the world with over 73% of flake exceeding 300u and 43% exceeding 500u.

In addition to its superior flake size, the preliminary test work also indicates that the deposit can produce grades of >98% TGC from flotation.

Primer on Triton’s progress

– Triton has the world’s largest known combined graphite-vanadium resource at Balama North.

– Balama North is a globally significant resource: 1.44 billion tonnes at 11.1% TGC.

– A new highly credential and experienced board and management team to take the Company forward.

– Rapid development of Balama North and Ancuabe flagship projects.

– The Balama North and Ancuabe Projects are close to major enabling infrastructure.

– Strong strategic alliance in Mozambique with major German graphite manufacturer, AMG Graphit Kropfmühl (GK).

– The management team have strong networks in Africa, Australia, Europe, North America and China.

– Triton has a 20 year binding offtake agreement with a well established Chinese graphite product manufacturer.

Upcoming catalysts

– Nicanda West: Results from a further four exploration holes are pending.

– Ancuabe: Initial Resource estimate expected in Q1, 2016. Ancuabe early stage feasibility work has commenced.

– Balama North Project: Completed Definitive Feasibility Study is due for completion in mid-2016, and is focussed on scalable and staged production ranging from initial 50,000tpa up to 200,000tpa at full steadystate operation.

Source: Proactive Investors Australia