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Triton Minerals intersects 64 cumulative metres of graphite at Balama North
Triton Minerals‘ (ASX: TON) reverse circulation drilling campaign is continuing to exceed the company’s expectations at the Balama North project in Mozambique.
Another 64 cumulative metres has been intersected on Drill Section 4 on the Cobra Plains prospect in License 5365, which extends the potential strike of graphitic mineralisation up to 2 kilometres.
Triton said that the graphitic mineralisation intersected appears to be on the same rock succession extending north-east from Syrah Resources’ (ASX: SYR) world-class graphite deposits.
The latest drill results are located on Drill Section 4 around two kilometres south west from the previously reported intersection in Drill Section 2 and provides Triton a greater understanding of the graphitic mineralisation zone in the Cobra Plains prospect.
The reverse circulation drilling program at Balama North is to cover up to 32 holes 50 metres apart on drill lines spaced around 1 kilometre, and will test the width and continuity graphite mineralisation zone.
Earlier in the month Triton raised over A$1 million through a placement of shares to sophisticated and professional investors, which built on the $1.4 million cash balance at the end of June 2013.
Boyle says results ‘exceeding our expectations’
Brad Boyle, managing director for Triton, commented: “These drill results from the Cobra Plains prospect continue to be most encouraging.
“Again the drill results are exceeding our expectations, given we are still in the preliminary stage of the exploration program and this being the secondary target in the Balama North project.
“The new findings include a further intersection of 64 cumulative metres of graphite mineralization within a zone that has a tested down-dip extent of 90 metres.”
Drill Section 4
Triton has completed six drill holes on Drill Section 4, with TMBC0016 intersecting multiple zones containing graphite for the cumulative drilled width of 64 metres.
The graphitic zones intersected on Drill Section 4 are again visually similar to the previously announced graphite zones intersected on Drill Sections 2 and 3.
The adjacent drill hole TMBC0015 intersected similar graphitic zones for a cumulative drilled width of 52 metres. Based on the initial drilling results, the mineralised zone appears to have a down-dip extent of about 90 metres.
The initial interpretation of these drill results is that the zones of graphite mineralisation appear to thicken in a westerly direction.
Triton said that additional drilling is required along the extension of Drill Section 4, to further test this concept.
Analysis
Momentum is building for Triton at Balama North as results from the reverse circulation drilling campaign continue to exceed expectations.
The latest results have further built on the initial visual findings increasing the possibility of graphite mineralisation extending up to 2 kilometres.
Although still only early days for drilling at Balama North, the potential that the graphitic mineralisation appears to be on the same rock succession extending north-east from Syrah Resources’ world-class graphite deposits is intriguing.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/47159/triton-minerals-intersects-64-cumulative-metres-of-graphite-at-balama-north-47159.html
