Date:May 24, 2018
ASX-listed Triton Minerals will fast-track studies on the vanadium mineralisation at the Nicanda Hill project, in Mozambique.
Triton told shareholders on Wednesday that the company was investigating the opportunity to produce a vanadium concentrate or product from Nicanda Hill, given the appreciation in the vanadium pentoxide price and the strong pricing outlook.
The decision to fast-track vanadium studies comes after a CSA Global study confirmed the potential of the vanadium deposit and potential processing options.
The project is currently estimated to host a Joint Ore Reserves Committee-compliant resource of 1.44-billion tonnes of vanadium, at grades of 0.29% vanadium oxide. The resource was considered one of the world’s largest defined resources of vanadium, and provided Triton an opportunity to capitalise on the forecast shortage of vanadium in the coming years, the company said.
“While we are aware of the size of the vanadium deposit, these studies have highlighted significant zones of vanadium within the Nicanda Hill orebody and demonstrate that valuable synergies may be achieved by producing both graphite and vanadium,” said Triton MD Peter Canterbury.
