Date:May 25, 2018
Triton Minerals (ASX:TON), has announced that it will fast track studies on the vanadium mineralization at its 100 percent owned Nicanda Hill Project in Mozambique. According to the company the deposit at Nicanada is globally significant, with roughly 1.44 billion tones of tier one resource.
Triton is a mineral exploration and development company formerly incorporated in Australia as Australian Mineral Fields Limited.
As quoted from the press release:
The decision to advance Nicanda Hill follows a successful independent review by CSA Global which confirmed the potential of the vanadium deposit and potential processing options.
Nicanda Hill has a JORC Resource of 1.44 billion tonnes of vanadium at a grade of 0.29 percent V2O5. This resource is one of the world’s largest defined resources of vanadium and provides an opportunity to capitalize on the forecast shortage of vanadium in coming years evidenced by recent price increases in the price of vanadium. In addition, it is one of the few vanadium deposits with a significant proportion (28 percent) of resource in the higher confidence levels of measured and indicated.
