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 encouraged by extension of gold anomaly at Nimpkish
Western Australia based Triton Gold's (ASX:TON) latest drilling results have confirmed and extended the soil gold anomaly and verified modest gold values in altered host rocks at Nimpkish within the Fraser Range North Gold Project.
Fraser Range North (FRN) is one of three projects located in the Albany Fraser Province of Western Australia where Triton has focussed its exploration for a major gold deposit similar to the +5 Moz Tropicana resource discovered by AngloGold Ashanti / Independence Group.
The Nimpkish soil gold anomaly expands over the major fault zone target and the anomaly now extends over 4.5km by 3km with gold up to 0.4 gram/tonne.
Initial wide spaced drilling has intersected modest gold values with alteration and deformation. The results are consistent with the company’s exploration criteria for “Tropicana” style gold mineralisation.
Salmon Gums to the south west has been the subject of intensive drilling, while commencement of work at Cundeelee to the north east and closer to Tropicana awaits clearance for access by the traditional owners.
Three prospects, Similkameen, Kicking Horse and Nimpkish are subject to ongoing investigation at FRN. Each is located over major fault zones interpreted from syntheses of regional geology and detailed aeromagnetics.
Infill and extension soil sampling at nominal 250m by 250m spacing was completed most recently at Nimpkish (362 samples), and air-core and reverse circulation (RC) drilling was undertaken at both Nimpkish and Kicking Horse.
At Nimpkish subtle soil gold anomalies extend over an area of 5km by 5 km along the interpreted location of the Cundeelee Fault, with a more coherent anomaly now defined over an area of 4.5km by 3km.
Broad spaced air core drilling (83 holes for 2,700 metres) was undertaken on one kilometre spaced north-south lines at both Nimpkish, and to the east at Kicking Horse where previous soil sampling had shown weakly anomalous gold.
Four RC holes (566 metres) were completed to test for major structures at Nimpkish and Kicking Horse, deeper within basement rocks, in the vicinity of the air-core drilling.
Sixteen one metre re-samples from the three holes returned a maximum of 376 ppb Au (0.37 ppm) from within the 28-32 metre interval in hole FRA 533. All others assayed less than 100 ppb Au.
Lance Govey, managing director, said none of the RC holes returned significant gold assays and further work is in progress, including analysis of multi-element assays to be integrated with a compilation of hyperspectral alteration patterns derived from the drill cuttings.
Completion of the RC and diamond drilling at Salmon Gums will trigger a decision by Teck Australia Pty Ltd, a wholly-owned subsidiary of major Canadian mining group Teck Resources Limited (TSX: TCK, NYSE: TCK), to give notification if it intends to exercise an option to farm-in to the project.
Under the key terms of the farm-in Teck will be required to manage and fund exploration on the two key tenements at Salmon Gums, and may ultimately earn 70% in the tenements upon completion of a pre-feasibility study.
A strategic alliance formed between the companies in 2007 covers the Salmon Gums, Fraser Range North and Cundeelee tenements, and any other tenure acquired within a pre-defined area of influence.
Triton Gold is contemplating additional drilling.
