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Nicanda Hill prospect in Mozambique looks set to continue growing into one of the largest graphite projects in the world with additional vanadium potential.

This follows the receipt of further reverse circulation and diamond drilling assay results that confirm substantial graphite mineralisation and extends multiple high grade zones.

Notably, the key diamond hole GBND0001 verified the HG1 zone of high grade graphite mineralisation with 37.3 metres at 11% weighted average graphite carbon (GrC) including intersections of up to 2 metres at 20.3% GrC.

Overall diluted graphite reverse circulation assay results, at 10% cutoff, stands at 12.6% GrC.

Initial analytical results also returned an average vanadium grade of 0.13% V, equivalent to 0.23% V2O5.

These include high grade intersections of up to 2 metres at 0.36% V.

Furthermore, the extended reverse circulation hole GBNC0010 intersected 237 metres of graphite mineralisation from near surface and remains open at depth.

This also confirmed the presence of the HG1 zone.

Northern holes have intersected 186 metres of graphite mineralisation from close to surface. These also remain open at depth.

“Once again these are exceptional drilling results confirming Triton’s belief in the Balama North project,” managing director Brad Boyle said.

“With the presence of both high grade graphite and vanadium, the Nicanda Hill prospect continues to deliver on every front and is currently looking to grow into one of the largest graphite projects in the world and now appears to have additional potential in light of these recent vanadium results.”

Diamond Drill Results

Key assay results over the priority 155 metre to 231 metre interval at diamond hole GBND0001 returned:

-    75.9 metres at 9% GrC from 155 metres, including;

-    37.3 metres at 11% GrC from 193.7 metres, including;

-    7.6 metres at 14.1% GrC from 195.7 metres; and

-    4.4 metres at 18.3% GrC from 210.9 metres

Importantly, the intercept of 37.3 metres at 11% GrC has verified the presence of the target HG1 high grade graphite zone.

Triton had noted on 4 June that the hole had intersected graphite schist for a cumulative drilled width of 316 metres, with narrow intervals of non-graphitic tonalite gneiss over the final drilled length of 372.7 metres.

• [Editor:Mango]