Battery metals innovator and developer Talga Group [ASX:TLG], today reveals an exciting and sizeable improvement to its natural graphite mineral resources in Sweden, increasing its mineral resource by 71%.
The expansion was discovered through exploration drilling along the ‘Niska Link’ in the northern part of its Vittangi Graphite Project, boosting graphite minerals to 3.9 million tonnes.
TLG’s shares were rising more than 2% by the early afternoon on Monday, worth around $1.68 each at the time of writing.
All-round, the graphite miner has enjoyed a healthy boost, rising more than 10% in the past week, 12% over the last month and is up 20% so far in 2023:
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Niska Link Extension receives 71% graphite boost
Today the graphite miner brought some exciting news to light by sharing a sizeable increase in the graphite resource at the group’s Niska Link target area, the core mineral resource in the northern part of the Vittangi Graphite Project in Sweden.
Through exploration drilling along 1km of the Niska Link, Talga found extensions that delivered a 71% increase to the total Niska graphite mineral resource and updated its total project resource with the inclusion of new drill results.
Findings include a higher cut-off grade of 11% graphite, upping the Vittangi Graphite Project Global Mineral Resource estimate by 23% (to 36.9 million tonnes) of 23.1% JORC graphite ore.
Talga says the sizeable resource boost is just what the company needs to feed production of its low-emission flagship anode product, the Talnode®-C.
The updated Vittangi Graphite Mineral Resource estimate revises Talga’s Swedish graphite resource inventory to an estimated total 72.7Mt averaging 18.6% graphitic carbon and represents a 22.5% increase in total resource tonnes and a 20.9% increase in Inferred Resource tonnes over the previous Vittangi Mineral Resource estimate.
Talga stated:
‘The growth in the Company’s graphite mineral resources, which are already the largest in Europe, will underpin potential expansion pathways to anode production beyond the 100,000 tonnes per annum (“tpa”) outlined under the Vittangi Anode Project (ASX:TLG 1 July 2021) and Niska expansion (ASX:TLG 7 December 2020).’
Independent mining consultants SLR Consulting Limited completed the Vittangi Graphite Mineral Resource update through diamond drilling at and around the Niska graphite deposits, which remain open along strike and depth.
Source: TLG
The future for Talga
Thanks to successful qualification test work, Talga is already in the advanced stages of offtake agreements to supply clients with Talnode®-C.
So far, the group has progressed offtake agreements with European battery maker, Automotive Cells, and French battery manufacturer, Verkor.
Benchmark Mineral Intelligence has forecast demand for coated graphite anode in Europe will reach over 1.3Mt per year by 2031, underscoring the group’s ambition to increase the Vittangi resource further and harness its offtake network.
Talga proudly proclaims its wholly-owned anode supply chain uses 100% renewable electricity and is vertically integrated within the EU, highlighting it as an important contributor to Europe’s growing lithium battery industry.
To bolster its business strategies, Talga is completing further exploration activities at its Niska deposit and will continue developing the project’s technical and economic feasibility studies.
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