Triton Minerals Ltd. said May 23 that it will fast-track studies on the vanadium mineralization within the Nicanda Hill graphite project in Mozambique.
The decision followed the results of an independent review, commissioned in the wake of the increasing vanadium pentoxide price and strong pricing outlook, which confirmed the potential of the vanadium deposit and the possible processing options.
In 2015, the total resource for the project was 1.4 billion tonnes containing 160.3 million tonnes of graphite and 4.2 million tonnes of vanadium pentoxide, or V2O5, grading 11.11% total graphitic content and 0.29% V2O5 in the measured, indicated and inferred categories.
A forecast shortage of vanadium in the coming years, as well as a significant proportion of Nicanda Hill's vanadium resource in the higher measured and indicated categories, provides Triton an opportunity to capitalize on the potential of the project's vanadium resource.
Further targeted testwork and metallurgical studies will be used as the basis to target the most prospective areas in the deposit, with results available in the third quarter.
