Triton Minerals off to encouraging start with 60 metre graphite intercept
Triton Minerals (ASX: TON) has encountered significant graphite mineralisation in the first drill line at the Balama North project in Mozambique located near the world class high grade graphite deposit held by Syrah Resources (ASX:SYR), with a 60 metre intersection.
Drill core will be formally analysed to confirm the visual estimates.
Early
visual comparisons suggest that the graphitic mineralisation located in
Target 1 Area show a number of similar characteristics to mineralistion
found at Syrah’s world class high grade graphite deposits located at
Balama.
Syrah has recently announced that their Balama deposits
have an Inferred Resource of 1.15 Billion tonnes containing 10.2% of
Total Graphitic Carbon and 0.23% of Vanadium.
Triton commenced a
reverse circulation drilling program on License 5365 in mid July 2013,
in order to test the width and continuity of a zone of graphite
identified and showing in a minor creek to the north of License 5365.
Triton managing director Brad Boyle said, “This is an exciting start to the drilling program.
These
initial results have exceeded our expectations; given this was the
secondary target on the program, behind the 3.75kms of extensive
graphitic outcropping identified in the north east portion of Target 1
Area."
Target 1 is the same area where the original graphitic
mineralisation outcropping, with a strike length of around 3.75
kilometres was located, with the area also hosting the additional
outcropping over a strike length of around 100 metres.
Triton has
now completed six drill holes on Line 3, with encouraging intersections
of graphite bearing rocks. Drill hole TMBC0005 intersected multiple
zones containing graphite for a cumulative drilled width of 61 metres.
Triton estimates the drill core has an approximate weighted average of 5% graphite based on visual graphite abundance estimations and 2% estimated graphite cut off.
The adjacent drill hole TMBC0006 intersected similar geology for a cumulative drilled width of 50 metres.
Triton estimates the drill core has an approximate weighted average of 4.9% graphite based on visual graphite abundance estimations and 2% estimated graphite cut off.
Drill core will be formally analysed.
Initial
interpretation of these drill results indicate that the graphitic
mineralisation zones appear to become thicker the further west.
Additional
drilling is required along the extension of drill line number 3, to
further test and better understand the width, depth and direction of
this graphitic mineralisation zone.
Triton said it is very is
encouraged by these preliminary results, given recent graphitic
outcropping discovered in a small creek near drill line number 1, which
is located approximately 2.2 kilometres to the north east of drill line
number 3.
It is looking to demonstrate the graphite continuity
over a 3 kilometre strike length with the use of the four planned drill
lines.
Triton also notes heading in a south west direction along
the sub-structure there is another 1.5km of land before reaching the
next license boundary, which subject to the current drilling results
could also be drilled to test the strike continuity of the graphite.
The
graphitic mineralization style in the drill holes appear to be
consistent with that found in the 3.75kms strike of graphitic
outcropping located near Narcanda and is situated approximately 4.5
kilometres to the north east on the same sub-structure as that of drill
line number 3.
Interpretation
These
initial drill results are significant given that Syrah’s Balama graphite
deposits are located a short distance to the south west of the
graphitic mineralization zones which were highlighted with drill line
number 3.
These results support the company’s original
interpretation and suggest that the graphitic mineralisation has
developed along the same sub-structure which extends in a north-east
direction from Syrah’s Balama high grade graphite deposits.
Thus,
providing Triton further confidence in the prospectivity of the Balama
North project and the potential to locate high grade graphitic
mineralisation.
Given the robust results in the last two holes on
drill line number 3, additional preparation work is now under way to
extend this drill line in a north westerly direction.
Whilst this
preparation work is being completed on drill line number 3 the RC drill
rig was moved up to and has now commenced work on drill line number 2,
located approximately 900 metres to the north east. Again, this new
drill line will be testing the strike length of this graphitic
mineralisation zone.
The current exploration and drilling program
is being carried out on the granted License 5365, which has been
approved by the Mozambique government agencies and by local
stakeholders. This program is the first known drill testing for graphite
on License 5365.
Up to 32 drill holes spaced approximately 50
metres apart on drill lines spaced between 0.9 and 1.2 kilometres are
planned to delineate the graphite zone. The holes are designed to drill
with a nominal 60 degree dip toward the southeast to intersect the
graphitic units with an interpreted northwesterly dip.
The
program is expected to be completed by mid-August and analytical results
are anticipated late September. All maps and cross sections are shown
using the WGS84 spheroid and datum in Zone 37 South and drill holes are
located using hand held GPS units.
Triton cautioned that the true
width of the graphite-bearing zones can not be accurately determined at
this initial stage of drilling and the estimates of graphite content
made during qualitative logging by geologists in the field and therefore
should be considered speculative in nature.
Drill samples are
currently being collected for all intersected graphite zone and for
geochemical analyses to quantitatively determine graphite content and
other geochemical characteristics rocks.
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