Why is Talga Group (ASX:TLG) grabbing the spotlight today?

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Why is Talga Group (ASX:TLG) grabbing the spotlight today?

ASX TLG, Talga drilling results
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Highlights

  • Talga shares jumped over 11% after announcing the solid drilling results of its Vittangi project.
  • The company has received graphite (Cg) assay results from six further drillholes of the previously completed 56-hole program.
  • Talga has tested multiple targets of natural graphite through its FY21 Vittangi drill program.

On Thursday, shares of Australian mining company – Talga Group Ltd (ASX:TLG) have grabbed the spotlight on the of drilling results of its Sweden based 100% owned Vittangi Graphite Project. 

On Thursday, Talga shares closed 11.23% higher at AU$1.535 on ASX.

Talga has now received graphite (Cg) assay results from a further six drillholes of the previously completed 56-hole program, which has continued to deliver solid results with all holes successfully intersecting the targeted graphite units at Nunasvaara South Deposit.

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Mark Thompson – managing director of Talga, said that the large-scale high-grade Vittangi graphite deposits are world-class, providing a unique opportunity to make massive amounts of anode for batteries from minimum ore value.

Only a 1-metre depth of extracted ore has the potential to feed one year of planned 19,500 tpa anode production, which makes the Vittangi project a strategically important resource for global battery manufacturing and decarbonisation efforts, he said.

More about the Vittangi Drill Program 

Through the FY21 Vittangi drill program, the company has tested multiple targets of natural graphite, a “critical mineral” defined by the EU and a source of raw material for the company’s integrated lithium-ion battery anode production facility in Sweden. 

The initial 56 diamond drillholes for 6,790 metres have already been completed across strategically important development and growth targets. Talga expects to receive the remaining assay results between December 2021 to early 2022. 

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