Date: May 23, 2018
Triton Minerals is looking to fast track studies of the vanadium resource that could substantially increase the value of its Nicanda Hill project in Mozambique.
While Triton (ASX:TON) is typically known as an emerging graphite producer, it also has one of the world’s largest defined resources of vanadium.
Given the appreciation in the vanadium price and strong pricing outlook, Triton is investigating the opportunity to produce a vanadium concentrate or product from its Nicanda Hill project, the world’s largest combined graphite and vanadium deposit.
The tier-one resource of 1.44 billion tonnes at 0.29 per cent vanadium pentoxide ranks second only to King River Copper’s (ASX:KRC) Speewah titanium and vanadium project.
The advantage of Triton’s vanadium is that it is found in the tailings leftover from the processing of graphite.
“You don’t have to pay any additional mining costs, so the vanadium would be a free mined tailings which could either be processed straight away or stockpiled for later processing,” managing director Peter Canterbury told Stockhead.
This means potentially higher future revenues and lower costs for Triton’s Nicanda Hill project.
A study done by CSA Global has confirmed the potential of the shallow, upper zone of the deposit.
This has prompted Triton to step up its efforts at Nicanda Hill, including accelerating studies and undertaking test work to identify processing options for vanadium concentrate.
