Total
0
Shares
Talga Resources (ASX:TLG) - Non Executive Chairman, Terry Stinson
Non Executive Chairman, Terry Stinson
Source: Talga Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Talga Group (TLG) begins resource depth extension drilling at the Vittangi Graphite Project in Sweden
  • Drilling is exploring beneath the mineral resource areas of three deposits and testing the current exploration target
  • TLG expects to receive assays in October and will use them to inform the potential of underground mining operations and future expansion programs
  • Talga is aiming to become the largest lithium-ion battery anode producer outside China by 2025
  • Company shares are up 3.89 per cent to trade at $1.34 at 1:18 pm AEST

Talga Group (TLG) has begun resource depth extension drilling at the Vittangi Graphite Project in Sweden.

The battery anode and advanced materials company is exploring the full potential of the project which is Europe’s largest graphite resource.

This phase of drilling will test under the existing Nunasvaara South, Nunasvaara North and Niska South mineral resource areas and begin testing the JORC-compliant exploration target estimate. This currently stands at between 170 and 200 million tonnes at a grade ranging from 20 to 30 per cent graphite.

Once received, Talga will use the drill results to inform the potential of underground mining operations and future expansion programs which were initially highlighted in a scoping study at the end of last year.

The scoping study outlined a pathway for the company to become the largest lithium-ion battery anode producer outside China by 2025.

Managing Director Mark Thompson reported Talga had already attracted strong commercial interest in its battery anodes.

“With very strong commercial interest in our range of green graphite battery anodes, and progression towards production outlined in the Vittangi Anode Project Definitive Feasibility Study, Talga is in a strong position to be a key player in the European battery supply chain,” Mr Thompson said.

In addition to the latest phase of drilling, Talga has submitted exploitation concession applications for the Niska deposit to kickstart the process for
developing the Niska Scoping Study.

The company will submit Niska’s environmental permit once an environmental permit has been granted for the Nunasvaara South deposit, which is expected to be granted by mid-2022.

The extension drilling will be completed in October and further drilling is planned at the Vittangi Exploration Target over the next 12-18 months as well as at nearby regional targets.

Company shares were up 3.89 per cent to trade at $1.34 at 1:18 pm AEST.

TLG by the numbers
More From The Market Herald

" Celamin (ASX:CNL) secures commitments to raise $3.2m

Celamin Holdings (CNL) has secured binding commitments to raise $3.2 million at 7.5 cents per share. The company will issue up to 42.6...

" Kula Gold (AXS:KGD) releases RC results at Boomerang Kaolin prospect

Kula Gold (KGD) has released reverse circulation (RC) drilling results at its Boomerang Kaolin prospect in Western Australia’s Southern Cross region.

" Winchester Energy (ASX:WEL) acquires oil field in Texas

Winchester Energy (WEL) has acquired a 100 per cent working interest in the Varn oil field in Texas.
West Wits Mining (ASX:WWI) - Chairman. Michael Quinert

" West Wits Mining (ASX:WWI) increases Witwatersrand MRE by 20pc

West Wits Mining (WWI) has announced an update to the JORC mineral resource estimate (MRE) at its Witwatersrand Basin Project (WBP) in South