Talga Resources has announced a maiden mineral resource estimate for its Kiskama copper-cobalt deposit, and is now looking for partners.
According to the company, the Sweden-based deposit is in a low-risk cobalt jurisdiction near emerging battery supply chains in Europe.
The entire resource is classified as inferred. Highlights include 7.7 million tonnes at 0.25 percent copper, 0.04 percent cobalt and 0.36 percent copper equivalent, predominantly based on historical drilling.
Additionally, the deposit’s open-pit shell returned results of 4.2 million tonnes at 0.3 percent copper, 0.05 cobalt and 0.45 percent copper equivalent. The deposit is touted by Talga as being Sweden’s largest cobalt deposit.
“The maiden JORC-compliant mineral resource estimate for Kiskama has achieved a solid base from which to lift the project above exploration level,” Talga Managing Director Mark Thompson said in a statement on Wednesday (August 21).
“In addition, the timing of its potential further development is right to match the growing need for conflict-free sources of critical minerals, such as cobalt, to make lithium-ion batteries in Europe.”
Thompson added that there is potential to build “larger scale” on the estimate via growth-targeted exploration along strike and down dip. This would include a newly identified geophysical conductor, dubbed K2, which is 600 meters east of Kiskama.
In the meantime, the company remains focused on its flagship Vittangi graphite project, whose resource of 12.3 million tonnes at 25.5 percent graphite marks the highest resource grade of the mineral globally.
All the same, Talga is now seeking development partners to help bring Kiskama to life.
By the end of ASX trading on Wednesday, Talga’s share price was up 1.19 percent to close at AU$0.43.
On the London Metal Exchange (LME), copper was trading at US$5,697.50 per tonne as of Tuesday (August 20). Meanwhile, cobalt rested at US$30,500 per tonne on the LME.
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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.