Gold exploration company Triton Gold (ASX: TON) is remaining active in Western Australia, announcing the company has kicked off a drilling program on the Salmon Gums and Sunday projects.
A 10,000m aircore drill program is underway at the Company’s Salmon Gums project, located in the prospective Albany-Fraser Province. The program will test a number of large-scale coherent soil gold anomalies on the project.
Triton Gold recognises the potential of the Albany-Fraser Province to host further Tropicana or similar styles of gold mineralisation and has secured a strategic position within this emerging gold province.
The Company will also undertake a reverse circulation and diamond drill program at Salmon Gums in Q1 2010 to test for depth continuity of defined gold anomalism and interpreted structural positions.
At the Sunday project, Triton Gold commenced a 600m diamond drill program to test the structural and alteration characteristics of the zone from which the high grade intersection of 1m @ 78.97g/t gold was returned. Sunday is located near the currently productive Leonora area of the Eastern Goldfields, which allows for the potential toll treatment or sale of any resource that may be defined within the project. Triton Gold has the right to earn approximately 70% equity in any gold prospects from Hannans Reward Ltd by meeting minimum statutory expenditure over three years.
The results of both of these drilling programs are expected in February 2010.
During September, Triton Gold completed 4,350m of aircore drilling on three prospects and 200m of RC drilling on a single prospect on the Company’s Fraser Range North Project.
Specifically, 51 aircore holes (2036m) were drilled at the Coquihalla and Nimpkish prospects were completed. At the Similkameen prospect, 73 aircore holes (2314m) and three RC holes (200m) drilled this year show limited gold outside the anomalous zone defined by the 2008 drilling.
Triton Gold also completed additional calcrete soil sampling, which has defined a coherent soil gold anomaly at Nimpkish.
Triton Gold Managing Director Greg Hall said he was strongly encouraged by the soil results at Nimpkish.
“We’re making strong progress at our core projects in WA and are in the process of prioritising the next stage of exploration,” Mr Hall said.
“It’s busy times ahead for Triton leading into the New Year.”
The Company will drill test Nimpkish in Q1 2010 prior to undertaking diamond drilling that will be co-funded through the Exploration Incentive Scheme grant awarded to Triton Gold by the WA government.
Triton Gold is characterised by a significant land holding in the emerging Albany-Fraser Province, where AngloGold and Independence Group’s 5Moz+ Tropicana Deposit is located.
The application of exploration techniques at the Company’s projects in the Albany Fraser culminated in an alliance with Teck Australia. The Company feels that these projects, including Salmon Gums, Fraser Range North and Cundeelee, have strong potential to host world class gold deposits.
