These opportunities are focussed on obtaining a key project with a strong chance of success.

The board said that the new strategy to consider various opportunities for new projects will facilitate a strengthening of the company’s current portfolio and will ultimately assist in securing the company’s financial position and future growth potential.

Triton currently has some strategically well placed projects, as the company has one of the largest land positions in the highly prospective Albany Fraser province behind AngloGold Ashanti Ltd (NYSE: AU, JNB: ANG) and Independence Group (ASX: IGO), with the province emerging as a significant gold province over the last decade.

Other current projects of Triton include the Windarra Project - which the company said has the potential to host significant gold mineralisation that may have gone undetected due to the previous operators focus on nickel.

Triton has the right to explore for gold in the Windarra district, under a Gold Rights Transfer Agreement with Poseidon Nickel (ASX: POS).

At another project, in a joint venture with Tushtena Resources and Panoramic Resources (ASX: PAN), Triton is exploring the Tushtena Project within the Tintina Gold Belt of southeast Alaska.

The Tintina Gold Belt hosts world-class gold deposits such as the 5.6 million gold ounce Pogo owned by Sumitomo Metal Mining (TYO: 5713), and the Kinross Gold Corporation (NYSE: KGC) Fort Knox 3.6 million gold ounce mine.

In other Triton news, Allen Govey, managing director, has resigned and will complete a three month notice period.

Triton has $2.2 million in cash in April 2011.

Poseidon Nickel is the major shareholder of Triton with 8.6%, with directors and founders 7.9% and Subiaco Capital 6.9%.

Preliminary gold assays were returned from a four metre composite sample from 40 metres downhole.

The intersection lies immediately west of an exploratory hole drilled in 2010 that intersected 3.94g/t gold in a narrow vein at 0.5 metres wide.

The target area includes two IP anomalies over approximately a one kilometre strike length.

Triton has three follow-up drill targets at Lady Penrhyn with results expected by late next month.

Triton has also started exploratory drilling at two untested prospects.

The Borrowdale and Guardian soil prospects have drilled 69 holes with 52 holes remaining to be drilled. Triton expects completion of drilling by April with assays by May.

The objectives of the survey were to map the sub-surface geology and controls on the anomalous gold intersected in the 2010 drilling. 

In addition, the aim was to locate zones of potential sulphides that may be associated with gold mineralisation.

Triton has found Target 1 in the north east of the grid area as the highest priority for reverse circulation drill testing.

This target is next to a historical diamond hole which identified 3.94 g/t in a narrow vein, highlighting the prospectivity for gold in the area.

The target area includes two anomalies over a one kilometre strike length, immediately south of an east-west dolerite dyke interpreted from aeromagnetics.

The next priority target is extensive at 1.8 kilometres long, which strikes north-south and broadly coincides with a basement magnetic horizon.

A third target overlies another east west dolerite dyke.

Zonge Engineering and Research Organization conducted the 28.6 line kilometres of Induced Polarisation and 28.9 line kilometres of Controlled Source Audio-Frequency Magneto Tellurics, with lines 200 metres apart.

Reconnaissance drilling at the previously untested Titanic surface gold anomaly has been completed with initial drill results pending.

First pass drilling at Borrowdale and Guardian is near completion. The rig will move to Target 1 at Lady Penrhyn in the next few days.

The Titanic and Guardian prospects lie within tenements subject to the Tropicana Gold Belt Alliance, an agreement between Teck Australia Pty Ltd. and Triton Gold Limited signed in 2007.

In a much awaited 2011 drill campaign at Salmon Gums, Triton is slowly but methodically gaining greater intelligence of the prospectivity of the area.

The objectives of the survey were to map the sub-surface geology and controls on the anomalous gold intersected in the 2010 drilling. 

In addition, the aim was to locate zones of potential sulphides that may be associated with gold mineralisation.

Triton has found Target 1 in the north east of the grid area as the highest priority for reverse circulation drill testing.

This target is next to a historical diamond hole which identified 3.94 g/t in a narrow vein, highlighting the prospectivity for gold in the area.

The target area includes two anomalies over a one kilometre strike length, immediately south of an east-west dolerite dyke interpreted from aeromagnetics.

The next priority target is extensive at 1.8 kilometres long, which strikes north-south and broadly coincides with a basement magnetic horizon.

A third target overlies another east west dolerite dyke.

Zonge Engineering and Research Organization conducted the 28.6 line kilometres of Induced Polarisation and 28.9 line kilometres of Controlled Source Audio-Frequency Magneto Tellurics, with lines 200 metres apart.

Reconnaissance drilling at the previously untested Titanic surface gold anomaly has been completed with initial drill results pending.

First pass drilling at Borrowdale and Guardian is near completion. The rig will move to Target 1 at Lady Penrhyn in the next few days.

The Titanic and Guardian prospects lie within tenements subject to the Tropicana Gold Belt Alliance, an agreement between Teck Australia Pty Ltd. and Triton Gold Limited signed in 2007.

In a much awaited 2011 drill campaign at Salmon Gums, Triton is slowly but methodically gaining greater intelligence of the prospectivity of the area.

The placement comprised 10 million shares at $0.13 to raise $1.3 million.

The SPP will be offered at the same price, to raise a maximum of $1.7 million, equivalent to around 13 million new shares.

Triton's Salmon Gums exploration target has strong potential to identify gold, due to the location within the Albany Fraser Province, which hosts the AngloGold Ashanti-Independence Tropicana deposits which hold over 5 million gold ounces, with development imminent after the $690 million development was given the go-ahead recently.

Also, Triton has one of largest land positions in the Albany Fraser Province behind AngloGold Ashanti & Independence Group.

The next phase of work by Triton at Salmon Gums will include geophysics and continued drilling.

BGF Equities is the lead manager of the capital raising.

Work to date by Triton has identified large scale gold in soil anomalies, with gold values similar to or greater than those at the Tropicana deposit.

Triton's main objective is to discover mineralisation similar to Tropicana in the Salmon Gums, Fraser Range North, Cundeelee and Neale gold projects.

Salmon Gums initial deep drilling completed had indications of primary gold mineralisation, intersecting up to 5.4 g/t gold at Lady Penrhyn. Interestingly, this drilling only covered a small part of the aircore and soil gold anomalies.

Triton has one of largest land positions in the Albany Fraser Province behind AngloGold Ashanti & Independence Group.

Triton will kick off an exploration programme in January 2011 including electrical geophysics and spectral mapping to target the next round of drilling. Electrical geophysics can be used to define areas of deeper weathering, which are often associated with alteration zones.

Triton will will trial electrical geophysical methods over a 12skm area at the Lady Penrhyn and Sirius prospects that was the focus of widely spaced air core drilling, and a limited reverse circulation and diamond drilling program earlier in the year.

If the trial surveys are successful, Triton said the area will be covered with a more detailed infill survey to define targets for follow-up reverse circulation drilling, which potentially could commence in mid-February 2011, followed by confirmatory diamond drilling if required.

Concurrently, rotary air blast drilling will be undertaken on a previously untested calcrete gold soil anomaly, Titanic, located 45km north of Lady Penrhyn near the northern limit of the Salmon Gums project area.

An infill soil sampling program at Titanic will also commence shortly, with results expected before year.

Neale Project

A new project north east of Tropicana, the 186skm Neal project has been added to the portfolio managed by Triton under the Tropicana Gold Belt Alliance, an agreement between Teck Australia and Triton Gold, signed in 2007. Neale is strategically located just 65 kilometres north east of Tropicana.

Neale was last explored by Iluka Resources Limited for mineral sands in Tertiary age sediments overlying Proterozoic basement.

Triton believes that the tenement is located in broadly the same structural domain that hosts the Tropicana deposits. The tenement is also transected by a significant cross structure that is considered to enhance the prospectivity of the area.

The program included a four hole diamond drilling campaign for 1,600 metres, within the Tintina Gold Belt of Eastern Alaska, host to many famous multi-million ounce gold deposits including Fort Knox (7 Moz), Pogo (5 Moz) and Livengood (>7 Moz).

This is the first area drilled by the current partners with the holes located at the southern end of the Discovery Zone, one of two prospects within a three kilometre long by one kilometre wide target with strong soil gold geochemistry and high gold grades in surface rock chips.

This drilling, ranging from 194m to 610m depth, was focussed on structural targets, with the northern Discovery Zone and a separate prospect, the RS Zone, remain to be tested at depth.

Triton expects first results from this drilling program to be received within a week, after the programme was completed within budget and seasonal time constraints.

Triton manages the joint venture on behalf of property owner Tushtena Resources Inc, an Alaskan subsidiary of unlisted, Vancouver based Tushtena Resources Limited, and Panoramic Resources (ASX: PAN) that is funding the current work.

Should Panoramic spend US$2.6 million prior to June 2013 it will earn a 51% interest in the project, with Triton 29% and the balance of 20% with Tushtena Resources.

Panoramic is required to fund the first phase of exploration, up to US$1.0 million, before it can withdraw from the joint venture. If Panoramic withdrew Triton will retain a right to earn 80% of the project from Tushtena.

Teck Australia Pty Ltd declined its option to farm-in to two key exploration licences at Salmon Gums, which effectively presents an opportunity for Triton.

The two key licences contain most of the surface gold anomalies defined by Triton including the Lady Penrhyn and Sirius prospects, where primary gold mineralisation has been intersected in the preliminary reverse circulation and diamond drilling programs, completed earlier this year.

Triton's manging director Lance Govey stated that the Board is pleased to have full control and the flexibility to continue exploration, with planning for future programmes currently in progress, with funding options under consideration.

The two exploration licences subject to the Teck farm-in option, E63/1093 and E63/1095, are now excluded from the 2007 Tropicana Gold Belt Alliance Agreement.

The Tropicana Agreement still governs the three remaining tenements at the Salmon Gums project and the tenements at Fraser Range North and Cundeelee projects, until its expiry at the end of 2011.

A number of soil anomalies remain untested, or have been investigated with wide-spaced shallow drilling only.

Triton opened higher on the news.

The attraction for Triton (and now Panoramic) is clearly evident as Tushtena covers an area of 41.4 square kilometres in the 1,200 km long Tintina Gold Belt, a metallogenic province stretching from Northern British Columbia to SW Alaska and adjacent to the region of the famous Klondike Gold Rush. The province is host to world class gold deposits such as Pogo (5 Moz), Fort Knox (7 Moz), and Livengood (6.8 Moz) and remains a prime area for gold exploration.

Under the deal between Panoramic Resources’ wholly owned subsidiary Pindan (USA) Inc., Triton and Tushtena allows Panoramic the right to farm in to a 51% interest by funding the balance of approximately US$2.6 million to satisfy a total of US$3.0 million in exploration expenditure required before June 2013.

Triton had spent US$400,000 on the project and will manage exploration during the earn in phase by Panoramic. Thereafter the parties would contribute to a Joint Venture in proportion to their respective interests of Panoramic Resources 51% (as manager), Triton Gold 29% and Tushtena Resources 20%, subject to normal dilution provisions and minimum holding levels.

Triton has commenced diamond drilling at the Discovery Zone prospect targeting potentially high grade gold mineralization below extensive surface showings of gold in veins and soils.

The first of four holes has been completed with the 1,600 metre program scheduled for completion in August, weather permitting. The initial core appears to contain significant sulphide mineralization and has been sent for assaying.

Triton expects to release results in the next few weeks.

Prior to ASX listing in 2009 Triton had completed two field seasons at Tushtena including geological mapping, surface sampling, multi-spectral alteration mapping and resampling of shallow historic drill holes.

High-grade rock chips with peak value of 1,450g/t Au (Discovery Zone), 163 g/t Au (RS Zone) and coherent areas of greater than 1g/t gold in soils occur within a target zone extending for over three kilometres. Historic drilling intersected up to 2.9m @ 24.6 g/t Au and 1.8m @ 49.6 g/t Au.

The targets at Tushtena in the current program were modelled in 3D from structural and lithological mapping. While the primary objective is to discover high grade lodes at depth it is possible that bulk tonnage low grade mineralisation could occur at shallow depth. Drilling activity at site is limited to a relatively short three month northern summer.

Gold exploration company Triton Gold (ASX: TON) has announced the delivery of its Scoping Study to Poseidon Nickel (ASX: POS) on the Windarra North Tailings Storage Facility, located in the Laverton District of Western Australia.

The report fulfilled Triton’s obligation to deliver a Scoping Study within six months of listing on the ASX as required by the Gold Rights Transfer Agreement, executed with Poseidon in 2009.

Triton retains 100% of the rights to gold contained in the Windarra TSF. The study was conducted by West Coast Projects and delivered to Poseidon on 9 February 2010. Triton Gold has a further 18 months to deliver a Pre-feasibility Study to Poseidon.

Triton Gold Managing Director Greg Hall, said a key objective of the Company was to perform preliminary analysis on the viability of moving this asset into production.

"Consistent with our corporate objectives, we have completed a Scoping Study to better define this asset and assess its ability to deliver early production," Mr Hall said.

“Our focus was to take a closer look at the viability of recovering gold specifically from the Windarra North TSF.

“Also important to us was increasing potential recoveries using existing technologies, which we believe is the best way to achieve favourable economics.”

In December 2009, Triton announced an Indicated Mineral Resource estimate of 113,300 ounces of contained gold with an average grade of 0.78 g/t gold at the Windarra Tails Dam Project, in accordance with Joint Ore Reserve Committee.

The Tailings asset is divided into three tailings cells, which were used for the deposition of gold and nickel tailings. The northern cell has received substantial gold assessment work by various companies, including WMC Ltd and Niagra Mining Ltd (prior to becoming Poseidon) and there is potential for further addition from the southern gold tailings cell, and the middle cell remains untested.

The Windarra North TSF has an Indicated Mineral Resource of 3.76mt at 0.81gm/tAu for 98,200 contained ounces.

This Scoping Study shows 50% of the gold can be recovered by conventional carbon-in-leach technology and a further 12% to 36% is available in the sulphide fraction (gold-in-sulphide) for total recovery of 64% to 85%. The sulphide content has been measured in composite samples and further test work is required to determine the TSF residue variability.

Mr Hall said a positive economic evaluation of the tailings project required gold recovery from both free gold and gold-in-sulphide sources.”

Test work to determine the sulphide content of composite samples derived from sonic drill cores has been commissioned to better define the average sulphide content of the Windarra North TSF and the overall combined sulphide and non sulphide gold ultimate extraction.

These results should be available next quarter.

The resource consists of an Indicated Mineral Resource estimate of 113,300 ounces of contained gold with an average gold grade of 0.78 g/t gold, reported in accordance with the Joint Ore Reserve Committee code.

Triton Gold Managing Director Greg Hall said the Windarra Tails Dam was a core focus for the Company.

“The project represents a potential for near-term cash flow, which may contribute funds to exploration programs being conducted elsewhere in the Yilgarn and Albany-Fraser Belt,” Mr Hall said.

“As a result, achieving this maiden resource today is an important stepping stone and builds confidence in the team’s ability to deliver.”

This Mineral Resource estimate is in broad agreement with the metallurgical reconciliation records of the discharged tailings containing 130,000 ounces with an average gold grade of 0.8 g/t.

Metallurgical test work is currently in progress to investigate the character of the tailings material and potential retreatment options.

The work is evaluating the recovery of other metals as well as gold.

The results of this test work will form the basis of preliminary operational and economic modelling to be reported in the Scoping Study, which is on-track for completion in February.

"Should the outcomes of the Scoping Study be positive, Triton Gold will look to commence a pre-feasibility study that will include further infill drilling to define a Measured Mineral Resource and Ore Reserve for the Windarra Tails Dam," Mr Hall said.

A 10,000m aircore drill program is underway at the Company’s Salmon Gums project, located in the prospective Albany-Fraser Province. The program will test a number of large-scale coherent soil gold anomalies on the project.

Triton Gold recognises the potential of the Albany-Fraser Province to host further Tropicana or similar styles of gold mineralisation and has secured a strategic position within this emerging gold province.

The Company will also undertake a reverse circulation and diamond drill program at Salmon Gums in Q1 2010 to test for depth continuity of defined gold anomalism and interpreted structural positions.

At the Sunday project, Triton Gold commenced a 600m diamond drill program to test the structural and alteration characteristics of the zone from which the high grade intersection of 1m @ 78.97g/t gold was returned. Sunday is located near the currently productive Leonora area of the Eastern Goldfields, which allows for the potential toll treatment or sale of any resource that may be defined within the project. Triton Gold has the right to earn approximately 70% equity in any gold prospects from Hannans Reward Ltd by meeting minimum statutory expenditure over three years.

The results of both of these drilling programs are expected in February 2010.

During September, Triton Gold completed 4,350m of aircore drilling on three prospects and 200m of RC drilling on a single prospect on the Company’s Fraser Range North Project.

Specifically, 51 aircore holes (2036m) were drilled at the Coquihalla and Nimpkish prospects were completed. At the Similkameen prospect, 73 aircore holes (2314m) and three RC holes (200m) drilled this year show limited gold outside the anomalous zone defined by the 2008 drilling.

Triton Gold also completed additional calcrete soil sampling, which has defined a coherent soil gold anomaly at Nimpkish.

Triton Gold Managing Director Greg Hall said he was strongly encouraged by the soil results at Nimpkish.

“We’re making strong progress at our core projects in WA and are in the process of prioritising the next stage of exploration,” Mr Hall said.

“It’s busy times ahead for Triton leading into the New Year.”

The Company will drill test Nimpkish in Q1 2010 prior to undertaking diamond drilling that will be co-funded through the Exploration Incentive Scheme grant awarded to Triton Gold by the WA government.

Triton Gold is characterised by a significant land holding in the emerging Albany-Fraser Province, where AngloGold and Independence Group’s 5Moz+ Tropicana Deposit is located.

The application of exploration techniques at the Company’s projects in the Albany Fraser culminated in an alliance with Teck Australia. The Company feels that these projects, including Salmon Gums, Fraser Range North and Cundeelee, have strong potential to host world class gold deposits.

Triton Gold managing director Greg Hall said he was highly encouraged by the initial results, with nearly one third of the metres drilled in the program returning assay values greater than 0.8g/t gold.

“Those results are in line with our expectations and position us well to publish a maiden resource for the Windarra Tailings before year-end, as promised in our prospectus,” Mr Hall said.

“The early indication from these results is that there are zones of significant grade within the tailings dam that have potential for near-term production.”

Over 29% of the metres drilled into the tailings material and basement on the northern dam (total approximately 1761m) returned fire assay values greater than 0.8g/t gold.

Triton Gold anticipates independent consultants CSA Global will complete a JORC-compliant resource estimation for the northern and southern dams by early December 2009.

In April 2009, the company acquired the gold rights to the Windarra Project held by Poseidon Nickel through the acquisition of Mining Force. This acquisition includes the gold rights to the historic Windarra Tailings Dams, on which gold bearing tailings were deposited over the period of 1981-1995

Under the terms of the agreement with Poseidon Nickel, Triton Gold must complete a Scoping Study on the Windarra Tailings Dams within six months (14 February 2010) of the date of listing on the ASX.

The drill program on the northern dam comprised 88 holes using the sonic drill method and 171 aircore drill holes (approximately 1199m). This drilling was conducted on a nominal hole spacing of 40m in the outer parts of the northern dam, and approximately 80m in the central parts of the northern dam.

Two areas of closer spaced drill holes (approximately 20m) were completed to better refine the geostatistical characteristics of the gold distribution. On the southern dam 23 aircore holes (182m) and one Sonic drill hole were completed on a nominal 60m x 40m grid.

The results are still subject to further validation and interpretation prior to the completion of resource estimates.

Metallurgical test work on bulk samples derived from the sonic drill cores is due to commence to investigate processing and treatment options.

Triton Gold Limited (ASX: TON) is a gold exploration company with a balanced portfolio of early to mid-staged projects in Western Australia (WA) and Alaska.

The company is looking to expedite further drilling on the project after the encouraging result which came from a 1m re-split of a previous 4 m composite sample returning 1m @ 78.97g/t gold from 108 m and 1 m @ 1.31 g/t gold, 100 m to the southwest.

The objective of the re-splitting process was to gain a better understanding of the significant results achieved from the latest 1029 m reverse circulation (RC) drilling program at Sunday and the Mt Stewart prospect. The drilling program was completed in August and included 4 m @ 16.68g/t gold.

Triton Gold’s managing director Marcus Willson said: “Understanding the style of mineralisation of such a significant high-grade gold intersection was important for planning future drilling programs.

“Having re-sampled on one metre now, we have further indications of the narrow, high-grade vein style of mineralisation that we have been focused on identifying at this project.

 “Coupled with the suggestion of a potentially significant strike extent, we are keen to complete further work as soon as possible.” 

The re-split of a lower grade but anomalous result at the Mt Stewart prospect (4m @ 0.3g/t gold) returned an intersection of 1m @ 1.31 g/t gold. 

Based on geology and alteration mapping, the two intersections, plus the earlier high grade result of 1m @20.8g/t drilled historically by Hannan’s Reward, occur each along strike from each other and within approximately 200m, potentially suggesting a significant strike of mineralisation.

The company is currently focused on reviewing the data towards the early completion of a further RC and/or diamond drilling program to assess potential extents and continuity of this mineralisation.