Investors have reacted positively to this news, with Triton’s shares last trading 11% higher intra-day, at $0.07.
Standout results from the reverse circulation drilling include:
- 45 metres at 9.7% TGC (total graphitic carbon) from 12 metres downhole including 22 metres at 11.4 TGC % from 35 metres;
- 19 metres at 8.1% TGC from 78 metres downhole; and
- 17 metres at 7.5% TGC from 25 metres downhole.
The first drilling results at T16 are significant given the high-grade mineralisation is near surface, which indicates the prospectivity of the deposit and the potential for low cost extraction.
The visual inspection of the ore at surface indicates very large in situ flake size, which will be subject to metallurgical test work in the current quarter.
Triton is confident that T16 could be developed alongside the T12 deposit into a high quality, low cost graphite project suitable for both the battery and expandable graphite markets.
These high-grade results at T16 follow positive metallurgical testwork results from T12, positioning Ancuabe very favourably in both grade and metallurgical recovery.
The company is aiming to release an updated mineral resource for Ancuabe in Q1 2017.