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Triton Minerals identifies potential satellite deposit at Ancuabe Graphite

Triton Minerals (ASX:TON) has received the first positive signs of a potential satellite deposit at its flagship Ancuabe Graphite Project in Mozambique.
Triton Minerals identifies potential satellite deposit at Ancuabe Graphite
Triton Minerals identifies potential satellite deposit at Ancuabe Graphite

The latest drilling indicates the T16 deposit as a potential satellite deposit to the T12 deposit.

Triton’s T12 deposit comprises a JORC 2012 resource of 14.9 million tonnes grading 5.4% total graphitic carbon, for 798,000 tonnes of contained graphite.

The company has been undertaking a comprehensive drilling program aimed at further testing of the T12 deposit and also evaluating several surrounding prospective areas.

Visual logging from T16, which was targeted due to the occurrence of coarse flake graphite in outcrops, has confirmed its prospectivity.

Under the current drilling program, a total of 59 bore holes have been drilled for a total of 4,510 metres.

Importantly, visual logging of the core from 13 holes have indicated coarse-grained flake graphite. Triton is awaiting formal assay results.

The graphite was observed from surface and extends to at least 90 metres vertical depth below surface.

Triton is currently focussing on the evaluation and rapid development of Ancuabe, targeting its large flake size characteristics to supply into the high value end of the graphite market.

The company had a cash balanced of about $2.2 million as at 30 September 2016.

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