Triton Minerals Limited (ASX:TON) Solid Drilling Results Continue at Nicanda Hill

Perth, Australia (ABN Newswire) - Triton Minerals Ltd. (ASX:TON) (Triton, Company) is pleased to confirm receipt of further drill assay results on the world's largest graphite and vanadium deposit at Nicanda Hill, in the Balama North project in Mozambique.

Triton Minerals Managing Director Brad Boyle said "These latest RC and diamond drilling results just provide additional strength and understanding to the current Mineral Resource estimate at the Nicanda Hill deposit.

The interception of 150m of high grade material averaging above 10% TGC, from surface, in two separate holes which are located more than 400m apart is again a very encouraging result for the Company.

These latest drill results have now confirmed and further defined another two high grade graphite zones, namely the Macico and Grande zones, in addition to the Mutola zone. Combined, these three zones alone, contain approximately 52% of the Nicanda Hill deposit which is a very exciting discovery for Triton.

With the bulk high grade graphite material contained within the Mutola, Macico and Grande zones, Triton is now well positioned to undertake selective and targeted mining operations going forward. This will help Triton to becoming a market-leading low-cost graphite and potential vanadium producer."

SIGNIFICANT ASSAY RESULTS

As previously advised on 21 October 2014, Triton has now completed the 2014 initial exploratory drilling program on the Nicanda Hill deposit, with sixty one (61) RC drill holes and thirty six (36) diamond drill holes finished, for a total 16,348m drilled.

The Company confirms that nearly all of the RC and diamond drill holes have finished in strong graphitic mineralisation and are open at depth. Triton confirms during this drilling program the average hole depth for the RC drill holes are 150m and 200m for the diamond drill holes. In most cases mineralisation extends from either surface or shallow depths to the end of hole.

The significant drill results for the RC and diamond drill holes that have been received post the completion of the Mineral Resource estimation by Triton are shown in more detail in Table 1 below.

Using a 5% TGC cut off, RC drill hole GBNC0039, located on drill section N7 returned high grade mineralisation from surface of 150m at 10.3% TGC, which included 76m at 12.4% TGC and 32m at 15.1% TGC. It should be noted that the entire hole, irrespective of what cut off is used, and inclusive of any mineralised waste, averages more than 10%TGC.

Also of note is diamond drill hole GBND0013, located on drill section N1, that returned high grade mineralisation from 97m at 11.8% TGC, which included 29.9m at 14.4% TGC. Whilst, RC drill hole GBNC0033, located on drill section N12, returned high grade mineralisation 50m at 12.2% TGC, which included 22m at 16.5% TGC.

Finally, diamond drill hole GBND0019, located on drill section N6, some 400m to the south of RC drill hole GBNC0039, also returned high grade mineralisation from close to surface 152.5m at 10.3% TGC, which included 105.9m at 11.7% TGC, 24.8m at 14.6% TGC and 15.8m at 13.9% TGC (Figure 1 in link below).

Triton confirms these latest RC and diamond drill holes continue to show substantial visible flake graphite and roscoellite from surface to the end of hole with many holes over 200m deep and open at depth.

These strong drill results strengthen and build on the maiden JORC 2012 Mineral Resource estimate for the Nicanda Hill deposit. These diamond drill hole drill results continue to confirm Triton's initial interpretation that the graphite mineralisation intensifies and strengthens towards the north of the Nicanda Hill deposit and with less internal dilution from a reduced number of gneiss (non-graphitic) bands.

The assay and visual drilling results continue to confirm strong graphite and vanadium occurrences over substantial thicknesses, across the entire mineralisation footprint. The thickness of the mineralisation zones have again been demonstrated by RC drill hole GBNC0039 and diamond drill hole GBND0019, which both show 150m of continuous graphite mineralisation from or close to surface.

Based on these results Triton is confident of further high grade intercepts on the Nicanda Hill prospect during future drilling campaigns.

NEW HIGH GRADE ZONES

Triton is pleased to confirm the latest drilling assays have confirmed and extended the Macico and Grande high grade graphite zones.

These two graphite zones are located adjacent and are developed on the western flank of the Mutola zone. The average global graphite grade for the Macico and Grande zones is 11% TGC.

The Company confirms using a 5% TGC reporting cut off, approximately 52% of the Nicanda Hill deposit is contained within the combined, Mutola, Macico and Grande zones, which is approximately 756 Mt of graphitic material at an average grade of 11.5% TGC.

Triton verifies using a 12.5% TGC reporting cut off, these three high grade zones contain 213.6 Mt of graphitic material at an average grade of 13.7% TGC.

Finally, Triton notes at a 15% TGC cut off, 100% of the very high grade mineral resource, namely 28.1 Mt of graphitic material at an average grade of 15.8% TGC is completely contained within these three high grade zones.

The Company believes the high grade graphite material confined within these three specific zones, provides Triton with the opportunity to selectively target areas for mining the highest grade material within the deposit, reducing the need to mine waste material. This will optimise the overall efficiency of the mining process and lead to substantially lower the costs of production.

NICANDA HILL DEPOSIT IS UNIQUE

On 21 October 2014, Triton announced the maiden JORC 2012 Mineral Resource estimate for the Nicanda Hill graphite deposit at the Balama North project in Mozambique.

The total Mineral Resource estimate comprises 1,457 Million Tonnes (Mt) at an average grade of 10.7% Total Graphitic Carbon (TGC) and 0.27% Vanadium Pentoxide (V2O5) classified as either Inferred Mineral Resources or Indicated Mineral Resources in accordance with the guidelines of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition).

Triton confirms that early exploration drill results and drill sections at the Nicanda Hill deposit confirm the presence of substantial graphitic schist over horizontal widths of nearly 1km.

As further information was received by the Company, it became apparent that the mineralisation footprint contained multiple, higher grade zones which were developed within the overall graphitic sequence.

Significantly, these multiple higher grade graphite domains form the dominant mineralisation thicknesses within the overall graphitic sequence, including the recently identified Macico, Grande and Mutola high grade graphite zones (Figures 1 & 2).

Continued drilling has confirmed the continuous character of these high grade graphite zones that are interpreted to mirror original very fine grained (pelitic) sedimentary formations containing a higher proportion of carbon. These formations, which are identifiable within a background of lower grade graphitic schist, form the basis of the resource domains.

Triton confirms that a single zone, the Mutola zone, is characterised by an enriching hydrothermal overprint which is interpreted as forming along the dominant foliation plane. The hydrothermal zone itself is relative narrow (1-3m thickness) but with pervasive graphite enrichment within and adjacent. The mineralogical constituents comprise graphite, together with a gangue assemblage of quartz and carbonate.

The gangue minerals are expected to separate easily during proposed flotation treatment of the material thus producing a final product of high-purity graphite concentrates of up to 97.3%. This gangue mineral assemblage has not been identified elsewhere in the resource.

In addition to the Mutola zone these latest drilling results have provided the Company more information and confirmed the extension of the Macico and Grande zones, which are located in the immediate hang wall (i.e., west and above) of the Mutola zone.

Triton verifies the results from diamond hole GBND0019 show that the Grande zone forms true thicknesses of up to 50m with average grades of up to 13.3%TGC with internal zones grading up to 15%TGC over thicknesses of 25m.

The Grande zone is characterised by consistent thicknesses and a massive graphitic composition and does not appear to be related to any hydrothermal activity. The drill results from diamond hole GBND0019 has also identified that the mineralised waste is still grading up to 8.3%TGC, which is a significant factor which could potentially be beneficial in the future mining of the deposit.

To view the complete release, including resources figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TON-697607.pdf

About Triton Minerals Limited:

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.

Source:

Triton Minerals Ltd.

Contact:

Triton Minerals Ltd.
Brad Boyle
T: +61-8-6489-2555
F: +61-8-9388-1252
WWW: www.tritonmineralsltd.com.au