Triton Minerals Ltd. Nicanda West (P66) - Positive Results

Perth, Australia (ABN Newswire) - Triton Minerals Ltd. (ASX:TON) (Triton or Company) is pleased to announce further encouraging results for the Nicanda West Prospect (also known as P66) which is located within the Balama North Project in Mozambique.

Triton Minerals Managing Director Brad Boyle said:

"The positive initial drilling results together with the consistency of the high-purity large-flake graphite recovered during flotation test work represent another decisive milestone in the development of Triton's Mozambique projects and adds an important new dimension to the TMG product range. The initial assays have confirmed grades that are expected for this style of deposit and the predominance of high-value large flake graphite highlights the diversity of high quality graphite concentrates that may be produced from an integrated Nicanda mining operation.

The wide thicknesses of mineralisation and consistency of grade combined with the lack of any substantial overburden present an ideal open pit mining opportunity which is located on the very doorstep of the world's largest graphite and vanadium resource at Nicanda Hill. The proximity of Nicanda West to the main Nicanda Hill resource allows the sharing of infrastructure and processing facilities and thus improving overall project economics.

Producing Nicanda West concentrates that meets the fundamental battery grade specification of >97%TGC is another important achievement for Triton."


INTRODUCTION

Triton is pleased to announce the initial drilling results from the Nicanda West prospect at the Balama North Graphite Project are considered to be encouraging and of material importance. Nicanda West, which is located 1.2km north west from the main Nicanda Hill deposit, has been tested by a total of 11 diamond and three reverse circulation (RC) drillholes. Assay results have been received for six of these drillholes (Figure 1 in link below).

Nicanda West is distinguished by the dominance of large (>150) and jumbo (>300) flake graphite that forms the main mineral constituent of a gneissic host rock. Given the dominance of high-value flake sizes the minimum targeted average grade of this style of deposit range is 5%TGC. This is in contrast to the more typical deposits of the Balama North region, including Nicanda Hill, where the host rocks comprise graphite-amphibole schist with target average grades of 10%TGC comprising dominantly fine (<75) to fine-medium (75-150) flake sizes.

The Nicanda West graphite mineralisation is similar in style to that discovered at Triton's Ancuabe Project.


DRILLING RESULTS

Drilling results received to date indicate large thicknesses of graphite mineralisation that form true widths of up to 190m as intersected in GBND0059 which returned an average of 4.6%TGC over the entire length of the hole (including a total of 53m of internal dilution) from near-surface to 200m at the end of hole which finished in mineralisation. Selective higher grade zones, some averaging up to 12.9%TGC, are developed within the broader mineralised zone. The weighted average grade of all intersections above cut off is 6.5%TGC over four stacked units that form a cumulative true width of 92m (Figure 2 and 3 in link below).

The drill results received to date for Nicanda West indicate both uniformity and continuity of graphite grade both along strike and down dip, with increasing graphite mineralisation trending towards the north-east of the prospect. The overburden is limited to a 2m thick veneer of alluvial sediments. The initial target at Nicanda West, as suggested by the VTEM data, extends over a minimum strike length of 1,000m. To date only 400m of strike has been drill tested.

Nicanda West is located approximately 1km west from the Nicanda Hill prospect which contains the world's largest graphite and vanadium resources. Triton's Cobra Plains graphite deposit is located along strike from Nicanda Hill towards the southwest. Including Nicanda West, 232 exploration and resource delineation holes have been completed on the Balama North Project. Numerous geotechnical and hydrological holes have also been completed in support of the Nicanda Hill definitive feasibility study (DFS) which is currently underway.

The scope of the DFS has been expanded to include Nicanda West as part of a proposed integrated operation designed to produce high-purity flake graphite in the preferred size ranges from Nicanda Hill, fine (<105) and medium (105-150) and from Nicanda West large (150-300) to jumbo (>300).

Although Nicanda West will likely be optimised to produce high-value large and jumbo flake, it will also be able to supply into the <150 range as a by-product. Nicanda Hill <150?concentrate has passed suitability trials carried out in the US for the manufacture of spherical graphite and Triton expects that Nicanda West concentrate will perform to similar levels.


NICANDA WEST CONCENTRATE PRODUCTION

Following the positive outcomes from the initial standard flotation tests, as reported previously, a limited production run was carried out by SGS Lakefield OreTest (Perth) to generate a sufficient sample of battery-specification concentrate in order to ship to interested parties and to carry out, at their request, more detailed particle induced x-ray emission (PIXE) and x-ray diffraction (XRD) test work. These testing procedures are specific to the requirements for producing spherical graphite for application in lithium ion batteries.

By means of a simple four-stage flotation process a total graphitic carbon grade of 97.7% was achieved with a large proportion of large and jumbo flake preserved.

For non-battery applications a lower grade can be targeted. This would preserve an even more dominant proportion of large flake.

Triton considers these initial metallurgical results to be highly encouraging and is expecting further positive results with the completion of additional optimised metallurgical test work.


CONCLUSIONS

- Drilling results received to date indicate a significant and robust graphite deposit at Nicanda West that is characterised by in-situ large to jumbo flake graphite. There is significant exploration upside with only 40% of the targeted strike length currently drill tested.

- The style of the Nicanda West deposit is unique to the Balama North region and has similarities to the high-value Ancuabe style of mineralisation.

- Metallurgical test work completed to date has achieved very high grades of graphitic carbon with a dominant proportion of large and jumbo flake being preserved.

- Nicanda West graphite is fundamentally suited for battery application with a grade of 97.7%TGC being achieved in a concentrate production cycle using simple flotation.

- Nicanda West is ideally qualified as a both a complement to and component of a larger integrated Nicanda Hill Project that can, uniquely, provide a range of enhanced graphite products including spherical graphite.

Triton believes that the positive initial drilling results together with the consistency of the high-purity large-flake graphite recovered during flotation test work represent another decisive milestone in the development of Triton's Mozambique projects and adds an important new dimension to the TMG product range.

To view tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TON-742239.pdf


About Triton Minerals Ltd:

Triton Minerals Ltd. (ASX:TON) is an ASX listed, responsible mineral explorer and resource management company headquartered in Perth, Australia.

Led by a highly experienced management team, Triton Minerals' vision is to grow shareholder's value through discovery or development of base metal, gold and other precious metal deposits.

Triton has made excellent progress with its three Graphite projects located in the Cabo Delgado Province in Mozambique, with the program successfully identifying a number of graphitic exposures.

It is the Company's belief that the Mozambique, Balama North Project could host multiple and very substantial world class graphite deposits.



Contact:

Triton Minerals Ltd.
Brad Boyle, CEO & Managing Director
Tel: + 61 8 6489 2555
Email: bboyle@tritonmineralsltd.com.au

Alfred Gillman, Technical Director
Tel: + 61 8 6489 2555
Email: agillman@tritonmineralsltd.com.au