www.tritongold.com.au
Triton Gold (ASX: TON) is a mineral explorer and resource management company headquartered in Perth, Australia. The Company applies exploration techniques to geologically fertile areas in Australia and elsewhere in the world that enable quick and precise detection of the next generation of economic mineral resources.
They hold the rights to explore for gold on Poseidon Nickel’s Windarra project tenements (Laverton WA), which have historically had a nickel focus.
Triton Gold aims for maiden resource and near-term production
Triton Gold (ASX: TON, Triton Gold) has announced positive results from a 2089m drilling program on the Windarra Tailings Dams, located in the world class Laverton gold district in Western Australia.
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.
