Talga Resources (ASX:TLG) - Managing Director, Mark Thompson
Managing Director, Mark Thompson
Source: Talga Group
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  • Talga Group (TLG) describes more “world-class” results from a major drilling program at its Vittangi Graphite Project in Sweden
  • The company says it has received assays for another six holes from a 56-hole drilling program at the project, with all six holes returning high-grade graphite results
  • One of the best results from the latest round of assays includes a 90-metre hit grading 30.8 per cent graphite from 155 metres
  • Talga says it expects to receive the remaining assay results from the program over the rest of the month and through to early 2022
  • Shares in Talga Resources last traded for $1.38

Graphite explorer Talga Group (TLG) has struck more “world-class” results from a major drilling program at its Vittangi Graphite Project in Sweden.

The company this morning said in an ASX announcement it had received the assay results for another six holes from a 56-hole drilling program at the project.

According to Talga, all holes successfully intersected the targeted graphite units at the Nunasvaara South deposit in the project area, with “very high grades” of graphite found in the holes.

One of the best results from the latest round of assays includes a 90-metre hit grading 30.8 per cent graphite from 155 metres. This result included a 25-metre zone at 40 per cent graphite from 156 metres.

All other holes from today’s round of results struck zones of graphite with grades ranging between 25.3 per cent and 37.6 per cent and mineralisation beginning less than 160 metres deep.

Talga Managing Director Mark Thompson said the grade and scale of the company’s Vittangi graphite deposits were “truly world-class” and provided a unique opportunity to make massive amounts of anode for batteries from “minimal” volumes of ore.

“Across the length of the Nunasvaara South deposit, just one metre depth of extracted ore can feed one year of planned 19,500tpa (tonne-per-annum) anode production,” Mr Thompson said.

“This makes Vittangi a strategically important resource for global battery manufacturing and decarbonisation efforts.”

The drill holes on which Talga reported this morning were designed to infill and upgrade the Pit 5 area of the Vittangi project, which is currently not included in the ore reserve or detailed feasibility study (DFS) mining schedule released by Talga in early July.

The holes were also designed to test depth extensions of the Nunasvaara South resource.

Talga said it expected to receive the remaining assay results from the 56-hole program over the rest of the month and through to early 2022.

Shares in Talga Resources last traded for $1.38. The company has a $420.5 million market cap.

TLG by the numbers
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