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 completes drilling at Tushtena, results within a week
Western Australia based Triton Gold (ASX:TON) has completed a diamond drilling program at the Tushtena Gold Project, based in Alaska.
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.
