- Talga Group (TLG) confirms high-grade graphite mineralisation through drilling at its Vittangi graphite project in Sweden
- The company recently completed a 36-hole drilling program to test the Niska Link area which extends for about two kilometres
- Results include high grades of up to 29.6 per cent graphite over a 37-metre interval and the remaining assays are expected next month
- Following that, Talga will update Vittangi’s current mineral resource to further develop what is considered to be one of Europe’s significant graphite projects
- TLG shares are up 4.555 per cent to trade at $1.15 at 12:32 pm AEST
Talga Group (TLG) has announced initial drill results from a recently completed program at its Vittangi graphite project in Sweden.
The drilling program included 36 holes to test the ‘Niska Link’ which is a two-kilometre target between the Niska South and Niska North deposits.
Talga received assays for the first 13 holes which have reportedly confirmed high-grade graphite mineralisation over substantial downhole widths.
Results include 84 metres at 20.2 per cent graphite from 15 metres including 37 metres at 29.6 per cent graphite, 103 metres at 17.9 per cent graphite from 55 metres including 43 metres at 20.2 per cent graphite, and 29 metres at 29.1 per cent graphite from 58 metres.
The company expects the remaining results in August with a resource update expected to follow for what is reportedly Europe’s largest and highest-grade defined graphite mineral resource.
The Vittangi Project has an indicated and inferred mineral resource of 30 million tonnes at 24.1 per cent graphite for 7.2 million tonnes of graphite.
The resource update is expected to be delivered before the end of the year and is aimed at supporting and optimising a future anode production expansion.
Talga is in the process of discussing offtake and financing agreements with battery manufacturers and automotive customers ahead of commercial production which is targeted to begin in 2024.
TLG shares were up 4.55 per cent to trade at $1.15 at 12:32 pm AEST.