Talga Gold announces drilling program on Sweden

June 13, 2012 (Source: SteelGuru) — Talga Gold Limited is to commence the Company’s maiden drilling program on its 100% owned graphite and iron deposits in northern Sweden on June 25th 2012.

The drill start will occur only weeks after the acquisition by Talga of the Swedish portfolio of Teck Resources Limited an acquisition brought forward nearly a month ahead of schedule because of the Company’s satisfaction with their mineralized potential and project development upside.

Talga has mobilized its exploration team to Sweden for the initial program comprising 5,000 meters of diamond drilling across four graphite and one iron ore projects. Drill results are expected to allow preliminary economic studies to commence on several deposits.

The schedule involves at least one drill rig working full time for the next three to four months. The objectives are:
1. Nunasvaara and Raitajärvi graphite projects: Expansion of respective current JORC code compliant Inferred Resources of 3.6 MT 23%C and 0.5 MT 10.8%C and an in part upgrading to Indicated Resource category. Drill samples will supply fresh material for detailed metallurgy and the commencement of economic studies. It is envisaged that the resource upgrades can be completed in Q4 2012 and scoping studies commenced in Q1 2013.

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Jalkunen and Pajala graphite projects: The projects currently contain five JORCcode compliant Exploration Targets1 with a respective combined total of 10-35.2 MT 3.4%-30.6%C and 1.3 MT to 2.3 MT 3.9% to 40.9%C. Objectives include:
1. Extending the graphite intercepted in historic drilling;
2. Upgrading at least part of these Exploration Targets1 into JORC-code compliant Inferred Resource category and
3. Providing fresh material for graphite specification and metallurgy testwork.

2. Masugnbysn iron ore project: Expand the size of the current JORC code Inferred Resource of 44.1 MT 30.9% Fe at the Junosuando deposit and at least in part upgrade this to Indicated Resource category. The initial drilling focus will be on shallow and higher grade zones identified from the historical database review. Drillcore will provide material for metallurgical testing, concentrate specification and ore type appraisal by strategic partners and off take customers.

Talga wholly owns a portfolio of advanced and high grade graphite projects in the Kiruna Mineral District of northern Sweden, all within a 110km radius of the central Jalkunen project.

The immediate focus is to advance multiple graphite projects towards fast tracking of development, possible due to the advantage of established quality infrastructure including power, road, rail and ports. Initially this will entail the expansion in size and upgrading of the categorization of the existing resources published for Nunasvaara and Raitajärvi. Additionally, it is also the Company’s objective to complete drilling on a number of other projects, including the multiple JORC code compliant exploration targets associated with the Jalkunen project.

Within 6 to 9 months the objective is for the Company to be in a position to commence an economic study with respect to mining and processing graphite in northern Sweden. Several projects could potentially be included in a single economic study. Considering the diverse range of carbon content and particle size forming different segments of the graphite market, it is possible that the best outcome will involve the development of more than one graphite mine, serviced by a centrally located concentration facility. Based on historical investigations Talga’s graphite projects contain a range of sizes and grades from microcrystalline through coarse flake deposits.

Source – Talga Gold Limited


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