Triton Gold studies acquisition of further eight graphite prospecting licenses in Mozambique

7 August 2013

Australian company Triton Minerals has announced potential exploration of eight further graphite deposits in Mozambique, the prospecting license for which currently belong to Mozambican company Mineral Stream, according to a statement sent to Macauhub in Maputo.

Triton signed an “exclusive option” agreement with Mineral Stream, which owns eight licences for graphite prospecting in Mozambique, “three of which located in the prolific region of Cabo Delgado,” where the Australian company already ahs two exploration projects, in Balama Norte and Ancuaba.

“We feel that it is a great opportunity for the company to review, analyse and potentially acquire more land in this highly prospective flake graphite region,” said the managing director of Triton Minerals, Brad Boyle.

According to Boyle identifying “new graphite expositions at license 5577” owned by Mineral Stream, in the Balama area, bolsters the “original interpretation” the company had of the region’s potential.

Triton Minerals said it had paid US$50,000 for “exclusive rights” for a five-month period on Mineral Stream’s licenses.

During that time technical and legal due diligence procedures will be carried out and at the end of this process Triton will consider “acquiring one or more prospecting licenses,” from the Mozambican company. (macauhub)