- According to a new mineral resource estimate, graphite reserves at Talga Resources’ (TLG) Vittangi Project in Sweden have been boosted by 15 per cent
- The mineral resource estimate now stands at 19.5 million tonnes grading 24 per cent graphite, compared to a previous estimate of 16.9 million tonnes grading 25.6 per cent graphite
- Albert Thamm, an independent geological consultant, completed the review using diamond drilling data from 2012, 2014, 2016 and 2019
- A number of additional exploration targets have also been identified as electric vehicle-driven demand for graphite continues to grow
- Talga Resources closed five per cent in the green for $0.63 per share
According to a new mineral resource estimate, graphite reserves at Talga Resources’ (TLG) Vittangi Project in Sweden have been boosted by 15 per cent.
The wholly-owned project hosts a number of natural graphite deposits, including Nunasvaara South, Nunasvaara North, Niska South and Niska North. It’s considered the world’s highest-grade graphite mineral resource, and the largest defined reserve in Europe.
Talga’s mineral resource review was carried out by Albert Thamm, an independent geological consultant, who used diamond drilling data collected from Nunasvaara in 2012, 2014 and 2016, as well as results from a 2019 program at Niska.
Based on a revised 10 per cent graphite cut-off grade, the updated resource estimate stands at 19.5 million tonnes grading 24 per cent graphite, representing 4.7 million tonnes of contained graphite.
This compares favourably to the project’s previous estimate, which stood at 16.9 million tonnes grading 25.6 per cent graphite.
Taking into account the approximate 15 per cent increase, along with existing reserves at Talga’s Jalkunen and Raitajärvi projects, the company’s total graphite resource inventory in Sweden comes to 55.3 million tonnes grading 17.5 per cent graphite, representing 9.7 million tonnes of contained graphite.
Mark Thompson, Managing Director of Talga Resources, said he is pleased to continue defining and growing the strategically important deposits.
“With projected anode demand set to reach 3.2 million tonnes by 2030 the potential of Talga’s Swedish integrated natural graphite anode production facility is significant for the European electric vehicle supply chain and the ‘green’ economy,” he added.
In light of the increasing demand, Talga has identified a number of additional exploration targets at the Vittangi Project, both along strike between the four known graphite deposits and at depth immediately below them.
The company’s objective now is to convert these targets into confirmed resources using surface diamond drilling, which is expected to begin following statutory authorisation.
Talga Resources closed five per cent in the green for $0.63 per share.