Triton Minerals Ltd. (ASX:TON) announced the maiden mineral resource estimate for the Cobra Plains graphite deposit, located at its Mozambique-based Balama North project.
As quoted in the press release:
The Inferred Mineral Resource Estimate comprises 103 Million Tonnes (Mt) at an average grade of 5.52% graphitic carbon, containing 5.7 Mt of graphitic carbon. This resource is classified as Inferred in accordance with the guidelines of The Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2012).
Brad Boyle, Triton’s managing director, said:
This is a tremendous result for the Company as Triton has managed to define in a secondary target the 4th largest graphite deposit in the world, based on resource tonnes in just over 6 months from the commencement of drilling at the project. This result comes on the back of an initial exploration drill program at Cobra Plains that was intended as a proof of concept that graphite mineralisation continued southwest from the high priority, high grade target of the Nicanda Hill prospect.
The true potential of the high grade Nicanda Hill prospect and the rest of the Balama North project is yet to be fully tested. These results support the Company’s belief that the Balama North project can host multiple, very substantial world class graphite deposits.