Triton Minerals to accelerate Ancuabe premium flake graphite project

2016-03-02

March. 2, 2016 - Triton Minerals has signalled it will accelerate development of its Ancuabe graphite asset in Mozambique in 2016, to fast track graphite concentrate production.

This is part of an evaluation of its large graphite and vanadium project portfolio and new course set by new Triton CEO and managing director, Garth Higgo to position the Ancuabe Project toward early stage, low cost mining.

Central to the review, Ancuabe is located less than 50 kilometres to the natural deep water port at the city of Pemba, with an operating container shipping facility that provides for strong infrastructure and low operating costs for a mining operation.

Only 10% of the Ancuabe tenements have been explored to date and with initial positive drilling results and metallurgical test work results, Triton is looking at test work and drilling options before committing to a Definitive Feasibility Study (DFS).

First up is more resource definition work, then Triton will define an initial JORC resource as soon as possible and then into a Scoping Study to fast track the development of a scalable mining operation.

Based on exploration to date, Ancuabe could provide a long term source of premium flake graphite with higher basket price operating margins and low capital expenditure.

Hence, Higgo's belief is that Ancuabe is better placed for a more rapid development progression than the Balama North project.