Shenzhen Extends Due Diligence Period on Triton’s Nicanda Hill Project

Triton Minerals Ltd. (ASX:TON) announced that Shenzhen Qianhai Zhongjin Group Co. Ltd. would now like to include Triton’s Ancuabe graphite project in the scope of its due diligence program. The program is being conducted as part of a funding agreement between the companies.

As quoted in the press release:

SQZG has subsequently received inquiries from the Ministry of Commerce (MOC) & Ministry of Land and Resources (MLR) of the People’s Republic of China about Triton’s graphite projects and as such SQZG considers TMG to potentially be of strategic importance to China.

As a result of the queries from the MOC and MLR, SQZG consider the Ancuabe graphite project could also hold additional significant strategic value and wishes to include the Ancuabe project in the scope of their due diligence program. A positive outcome from this expanded due diligence process may allow Triton to access additional capital from SQZG to develop the Ancuabe graphite project.

SQZG has noted that, with the continued encouraging metallurgical results being obtained from the Ancuabe and Nicanda graphite projects and the potential strategic value of the projects, SQZG have now sought an extension to the due diligence period of the LOI, for up to six months to incorporate a formal review of the Ancuabe graphite project.

Click here to read the full Triton Minerals Ltd. (ASX:TON) press release.