a9c78f24-537c-45f9-9e6d-d4c9b15f3f30.pdf
30 OCTOBER 2015
Triton Minerals Ltd
Holder of the world's largest known combined graphite-vanadium resource
ASX: TON
ABN: 99 126 042 215
Directors & Management
Chris Catlow - Non-Executive Chairman Brad Boyle - CEO & Managing Director Alf Gillman - Technical Director
Alan Jenks - Non-Executive Director Paula Ferreira - Non-Executive Director
Paige Exley - Chief Financial Officer & Company Secretary
Head Office:
Unit 1, 256 Stirling Highway Claremont
Western Australia 6010
Tel: +61 8 6489 2555
Fax: +61 8 9388 1252
Email: [email protected]
Web: www.tritonmineralsltd.com.au
Capital Structure at 31 March 2015
376,549,422 Shares
23,164,146 Unlisted Options
15,000,000 Unlisted Performance Rights
Cash at 30 September 2015
$3.1M
Market Cap at 30 September 2015
$90.5M
Top 20 Shareholders at 30 September 2015
Hold 40.78%
QUARTERLY ACTIVITIES REPORT
For the period ending 30 September 2015
PROJECTS OVERVIEW
Graphite Operations - Mozambique Balama North project
-
Rubicon Resources (ASX:RBR) engaged to provide key support services in Mozambique through RBR's Mozambique subsidiary, PacMoz Lda.
-
Feasibility Study activities & drilling underway, environmental and social impact assessment progressing well.
-
Jumbo flake graphite located at Nicanda Hill (P66 zone).
-
TMG suitable to produce graphene and battery grade spherical graphite.
-
DUAT application and early works program progressing.
-
Metallurgical test work program is well advanced.
-
Triton Mozambique Development strategy outlined.
-
Triton rapidly advancing Nicanda Hill towards production.
-
Triton seeking to become a market leader in low-cost-production, high grade graphite.
Ancuabe project
-
Coastal and Environmental Services complete dry season review for Environmental Impact Study at Ancuabe project.
-
Drill rig mobilised to site for initial drill program.
-
Substantial graphitic mineralisation confirmed (T12 Mineralisation).
-
Environment Impact Assessment (EIA) continues on schedule.
-
DUAT applications on schedule.
-
Initial feasibility study commenced.
-
Early works commenced with 15km all weather access road to sealed highway completed to T12 site.
Balama South project
-
Reconnaissance geological mapping & sampling program completed.
-
Metallurgical and mineralogical analysis underway.
Joint Venture Operations China
-
China JV factory site visit completed.
-
TMG product testing underway.
Mozambique
-
Mozambique JV factory site location soon to be finalised.
Australia
-
Fraser Range North project surrendered.
CORPORATE OVERVIEW
-
Paula Ferreira appointed Non-Executive Director.
-
Change of registered address and principal place of business.
-
General Meeting held 22 October 2015.
1
The quarter ending 30 September 2015 was another productive quarter for Triton Minerals Limited (ASX: TON, Triton or Company). A considerable amount of material activity was reported both at a corporate level and across Triton's operations, including:
-
Triton Mozambique Graphite (TMG) suitable to produce graphene, battery grade spherical graphite and a range of enhanced graphite products;
-
Jumbo flake graphite located at Nicanda Hill (P66 zone); and
-
Substantial Graphitic Mineralisation confirmed at Ancuabe (T12).
These highlights, together with other material activity announced during the quarter, are discussed in more detail below.
GRAPHITE OPERATIONS - MOZAMBIQUE
A. Balama North Project
Material Activity during the quarter
-
Engagement of Rubicon Resources
During the quarter, Triton announced the formation of a strategic partnership with Rubicon Resources Ltd (Rubicon or ASX: RBR) to provide key support services in Mozambique.
Triton engaged Rubicon as its preferred Mozambique service provider to assist in key aspects of the development and operational phases of its three Mozambique graphite projects (Nicanda Hill, Ancuabe and Pemba).
Rubicon, through their wholly owned Mozambique subsidiary PacMoz Lda (PacMoz), will provide Triton with a broad range of in-country support services including; permitting, licencing, business administration, human resources (including recruitment, contract management, training and immigration) and company secretarial support.
Rubicon intends developing a medical services business in Pemba, which will be able to provide further support to Triton with the provision of pre-employment medicals and periodic medical support. Rubicon is also assisting with logistical services as Triton heads rapidly towards graphite production.
-
DUAT
Triton confirmed that the DUAT applications (right to use and exploit land) in Mozambique are progressing well, as the public consultations with the surrounding villages around the Nicanda Hill graphite project have now been completed. Subsequently, the editals (reports) have been completed and submitted to the Governor of the Cabo Delgado Province for provincial approval. Following this the DUAT application will be submitted to the Council of Ministers for final approval. Triton is expecting that the DUAT will be approved by the end of 2015.
-
Environmental and social impact assessment (ESIA)
Triton confirmed that Coastal and Environmental Services (Pty) Ltd (CES) has completed both the wet season and dry season baseline studies which are key components of the ESIA process.
The Ministry of Coordination of Environmental Affairs (MICOA) has completed their site visit at the Balama
2
North project and the Environmental Pre-viability Report and Scope Definition (EPDA) and terms of reference disclosure documents will shortly be submitted to the Mozambique government.
Public consultations have been completed in the five surrounding villages with representatives from Triton, CES and the Government present.
CES are targeting to complete and submit their final ESIA report to the Mozambique Government by early December 2015. Once submitted, the report will be reviewed accordingly and is expected to be finalised and approved by early 2016.
-
Nicanda Hill Definitive Feasibility Study (DFS)
During the quarter, Triton announced that the DFS is progressing well at the Nicanda Hill resource. The DFS drilling program at Nicanda Hill has progressed well with a limited number of hydrology, sterilisation and water supply drill holes to be finished shortly.
Triton confirmed assay results from the resource infill drilling program are being received from the Genalysis laboratories. These results will be reviewed before being used to confirm the current resource interpretation and to establish the optimum grade control pattern within the limits of the Years 1 to 10 design pit.
Another key objective of the additional drilling program is to provide sufficient information to underpin an upgrade in resource classification of material significance and thus form the basis of developing a substantial quantity of proven graphite reserves to both underpin the project economics and reduce the risk profile.
Triton confirmed that the design for the ROM pad, graphite processing plant, flow sheet and site layout are almost complete and ready for the final phase of the DFS assessment. Please refer to the Triton website for an overview of the plant design and mine site layout, using the following website link (www.tritonmineralsltd.com.au/links-and-gallery/videos).
-
Jumbo flake graphite identified at Nicanda Hill
During the quarter, Triton announced that as a result of the current Definitive Feasibility Study (DFS) drilling program, the Company has identified a substantial jumbo flake graphite zone at Nicanda Hill - known as 'P66'.
The new graphitic zone is in addition to the initial JORC 2012 compliant graphite resource announced on 21 October 2014. The Company verifies that diamond drill hole, GBND0055, intersected strong graphitic mineralisation with extensive jumbo flake graphite present in the drill core.
Triton completed a number of additional drill holes both north and south of the original P66 intersection, which have confirmed the continuity of jumbo flake graphite mineralisation over a considerable distance.
3
The P66 zone is located to the north-west and outside of the previously defined graphitic mineralisation at Nicanda Hill and was discovered whilst testing a geophysical anomaly located outside the known resource footprint (refer to Figure 1).
Figure 1. Overview map of the graphite mineralisation footprint and the new P66 jumbo flake zone at the Nicanda Hill project.
Based on the previous strong correlation demonstrated between the VTEM anomalies and the associated graphite drill intersections at Nicanda Hill, Triton is confident that the correlation will continue at the P66 zone, which could amount a substantial mineral resource of jumbo flake graphite. The geometry of the new graphitic zone is yet to be fully defined and additional exploration work and
4