Talga ups resource estimate by 500%
PERTH (miningweekly.com) – Diversified minerals explorer Talga Resources has increased the resource estimate at its Raitajarvi graphite project, in Sweden, by some 500%.
The new resource estimate has lifted the project’s contained resource to 307 000 t of total contained graphite, compared with the previous estimate of 54 000 t.
This was based on an indicated and inferred resource estimate of 4.3-million tonnes, grading 7.1% graphite, with some 3.4-million tonnes classified in the indicated category.
“The new resource estimate at Raitajarvi exceeded our expectations and supports Talga’s goal for a deposit potentially capable of producing 25 000 t/y of coarse flake graphite concentrate over at least ten years,” said Talga MD Mark Thompson.
He noted that being proximal to established bulk commodity transport infrastructure and to the European market, which currently imported around 95% of the 200 000 t of natural graphite it consumes each year, was a major advantage.
“Furthermore, the option to direct rail to European end-users may offer a significant price advantage in bringing our graphite to market sooner, and will assist with what we believe will be attractive operating margins.”
Thompson added that to date Talga has drill tested only 25% of the known electromagnetic conductor/graphitic unit, and with the other prospects occurring within the 17 km2 project area, there was significant scope for further growth.
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