Talga Publishes Resource Estimate for Swedish Graphite Deposits

- October 15th, 2019

The new resource brings Talga’s total JORC resource in Sweden to 52.7 million tonnes containing 9.3 million tonnes of graphite.

Perth-based Talga Resources (ASX:TLG,OTC Pink:TLGRF) has published a maiden mineral resource estimate for its Niska deposits, which are part of the Vittangi project in Sweden. 

The study shows Niska contains a total indicated resource of 4.6 million tonnes grading 25.82 percent graphitic carbon using a 10 percent cut-off grade.

The new resource brings Talga’s total JORC resource in Sweden to 52.7 million tonnes containing 9.3 million tonnes graphite.

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In May, Talga published a prefeasibility study (PFS) for its Vittangi project, estimating a mine life of about 22 years. The asset could produce 19,000 tonnes per year of Talnode-C product, a fully engineered and coated lithium-ion graphite battery anode product, through an integrated concentrator and refinery.

“Not only is (the Niska maiden resource estimate) more than double the size of the Nunasvaara ore reserve that underlies the PFS we published in May, it is higher in grade and opens up a range of potential options for development that we will scope out separately at this stage,” Talga Managing Director Mark Thompson said in a press release.

“This conversion of Niska from discovery to resources adds further strength to Talga’s plans to build a large, long term European source of anode products for the lithium-ion battery industry.”

Looking ahead, the company is aiming to start a preliminary economic assessment for Niska in November to scope development options and kick off the permitting process.

“The combination of very simple mining (quarrying) process along with the sale of a very special quality anode product could give Talga a commanding lead over many other graphite producers and lend the company a premium rating for its patented anode technology,” SP Angel said in a note to clients.

On Tuesday (October 15), shares of Talga remained unchanged in Sydney, trading at AU$0.54. The company’s share price is up 37.5 percent year-to-date.

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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