Australia’s Triton Minerals announces new graphite discoveries in Mozambique

24 June 2014

Australian mining company Triton Minerals has found new high quality graphite deposits in Nicanda, Cabo Delgado province, northern Mozambique, the company said in a statement sent to Macauhub in Maputo.

Triton Minerals’ latest prospecting work according to the company’s director, Brad Boyle, provided “surprising results,” as the first test drilling carried out discovered 313 metres of high quality graphite, which consolidates the “world class potential” of the Balama Norte project.

At this project so far the Australian company has drilled in 24 locations in order to determine the size of the graphite deposit. Analyses have shown that there is a substantial graphite concentration, the press release said.

“The latest tests show that, at Monte Nicanda, there are several areas of high quality graphite, with an average concentration of 11 percent,” said Boyle in the statement.

According to the company the work carried out in Nicanda pointed to graphite over a distance of 1.75 kilometres.

Triton Mineral has two projects in Cabo Delgado province Triton Minerals  – Ancuabe and Balama Norte, and at the latter holds six surveying licenses.

Of the 20 investors that make up the company’s shareholder structure, Citicorp Nominees PTY Limited, of financial group Citigroup, has the biggest stake (23.8 percent), followed by JP Morgan Nominees Australia Limited (3.11 percent), of the JP Morgan group. (macauhub/MZ)