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- Battery and advanced materials company Talga (TLG) boosts the mineral resource estimate (MRE) by 54 per cent at its Vittangi graphite project in Sweden
- The updated MRE reads 30.1 million tonnes of graphite ore at 24.1 per cent graphite for 7.2 million tonnes of contained graphite
- The update confirms Vittangi remains the world’s highest-grade graphite mineral resource and the largest defined graphite mineral resource in Europe
- A further resource update is planned for late H2 2022 following the recently completed drill program
- Talga is up 7.66 per cent with shares trading at $1.41 at 11:30 am AEST
Battery and advanced materials company Talga (TLG) has boosted the mineral resource estimate (MRE) by 54 per cent at its Vittangi graphite project in Sweden.
The updated MRE reads 30.1 million tonnes of graphite ore at 24.1 per cent graphite for 7.2 million tonnes of contained graphite and is reported in JORC 2012 accordance.
This includes indicated resources of 22.6 million tonnes at 24.9 per cent graphite and inferred resources of 7.5 million tonnes at 21.8 per cent graphite.
The update represents a 54 per cent increase in total resource tonnes, a 51 per cent increase in indicated resource tonnes and a 67 per cent increase in inferred resource tonnes.
The estimate includes a maiden MRE for the Nunasvaara East deposit of 4.4 million tonnes at 23.3 per cent graphite for one million ounces of contained graphite.
This includes indicated resources of three million tonnes at 23.3 per cent graphite and inferred resources of 1.4 million tonnes at 23.3 per cent graphite.
These updates have confirmed Vittangi remains the world’s highest-grade graphite mineral resource and the largest defined graphite mineral resource in Europe.
It was completed by independent mining consultant SLR with results incorporated from 2021 diamond drilling completed at the Vittangi graphite deposits.
A further resource update is planned for late H2 2022 following the recently completed drill program.
The update is a key step in Talga’s mine-to-anode strategy and scale-up to become a significant supplier of the world’s greenest lithium-ion battery anode.
“Currently, there is more than 960GWh2 of Li-ion battery capacity using graphite anode technology planned in Europe,” Managing Director Mark Thompson said.
“In boosting our graphite mineral resource, we are also boosting our ability to supply sustainable anode products and setting Talga up to become a major supplier to the world’s fastest-growing lithium-ion battery markets.”
Talga was up 7.66 per cent with shares trading at $1.41 at 11:30 am AEST.
