The Talga Group Ltd [ASX:TLG] share price is up over 3% after releasing exploration results.
Talga Group is an ASX-listed company based in Perth. Talga’s focus is to build a vertically integrated facility in Europe to supply lithium-ion battery anode products for the region.
Talga identifies new zones for more drilling
Talga recently finished over 1,000 line kilometres of high-resolution airborne SkyTEM geophysical surveys at their fully-owned Vittangi Graphite and Aitik East Copper projects in north Sweden.
Talga said that results from the greater Vittangi graphite-bearing units indicate these are more continuous than previously thought. Talga has now pinpointed new targets for drilling, with a ‘significant’ target found around 500m southeast of the Nunasvaara North resource.
The new area, named Nunasvaaran East, is a priority target and Talga has already started drilling.
At Aitik East, Talga said the project is prospective for large-scale copper-gold mineralisation and that it’s similar to the 36 metric tonnes per year Aitik mine, located 25 km west.
The SkyTEM survey found ‘a weak and discrete conductive anomaly’ located about 1.7 km north from an area that’s already yielded rock chip sample result grades up to 4.8% copper, 1.2 grams per tonne gold, and 66 grams per tonne silver in outcrop.
Talga’s Managing Director Mark Thompson said:
‘With rising European demand for EVs and therefore graphite anode products, it is exciting to see the Vittangi Graphite Project — our battery raw material source — continue to grow. Successful exploration allows us to better plan future scale-ups and fully realise the deposit’s potential for clean battery manufacturing. The new target at our Aitik East copper project is another positive development. Our Swedish battery metal projects provide additional avenues for Talga to deliver value across the European battery supply chain.’
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What happens next to the TLG Share Price?
Talga expects to receive results from the initial stages of the Vittangi drilling program by November 2021 and results from Nunasvaara East in December.
At time of writing, Talga shares are trading at $1.58, about 3.27% higher than yesterday’s close.
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Best,
Selva Freigedo,
For Money Morning
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