Triton Minerals Ltd (ASX:TON) has entered into a binding Memorandum of Understanding (MOU) to acquire up to 80% of the Aucu gold and copper project in Mozambique’s central-west Tete province.
Spanning 588 square kilometers, the project is strategically located near existing infrastructure and active gold and coal mining operations.
It lies approximately 45 kilometers from Tete, the provincial capital, and just 200 kilometers south of Africa Lion Gold’s Chifunde Gold project.
The area’s well-established mining infrastructure, including Vulcan International’s Moatize Coal Mine and the Benga Mine, further enhances the project’s potential.
Additionally, the Aucu project hosts numerous artisanal copper and gold workings, but it has seen minimal modern exploration, creating a significant opportunity for Triton.
Subject to approvals, Triton plans to launch an exploration program that includes field mapping, rock chip and soil sampling, an aeromagnetic survey, and first-pass drilling in the coming months.
Triton’s Executive Director and COO, Adrian Costello, expressed enthusiasm for the acquisition: “We are excited to be acquiring the Aucu Project, located in a highly prospective part of Tete province.
The size of the project area, its favorable geology, historical copper and gold occurrences, and lack of modern exploration make it a unique opportunity for us.”
He added, “We look forward to finalizing the acquisition, starting fieldwork, and generating drilling targets soon.”
Triton shares remained steady at 1.1 cents.
