Talga Resources review confirms Swedish copper

THE DRILL SERGEANT: Talga Resources (ASX: TLG) has completed a review of historic drill data from one of the company’s Swedish mineral projects.

Talga claims the review has confirmed the existence of a new copper-gold play in close proximity to Europe’s largest operating copper-gold mine, the 2,760 million tonnes at 0.17 per cent copper, 0.1 grams per tonne gold Aitik mine of Sweden-based Boliden.

This is the first review Talga has undertaken of its 100 per cent-owned copper-gold assets in the Kiruna mining district since acquiring the Swedish assets of Teck Resources 18 months ago.

The review digitised then analysed historic drill records and assay data that was previously only in hard copy.

 

Kiskama drillhole location map with selected significant
intercepts over greyscale aeromagnetic (TMI) image. Source: Company
announcement

 

Talga said it had revealed copper-gold grades over substantial widths at its Kiskama project in northern Sweden.

Shallow, wide intercepts of copper-gold were revealed including:

Hole 80004: from 20 metres depth 42m at 0.49 per cent copper, 0.07 grams per tonne gold, including 10m at 1.23 per cent copper, 0.16g/t gold from 45m;

Hole 77001: from 16m depth 21m at 1.02 per cent copper, 0.25g/t gold including 6m at 1.98 per cent copper, 0.54g/t gold from 16m;

Hole 77007: from 34m depth 66m at 0.41 per cent copper, including 7m at 1.24 per cent copper from 92m;

Hole 72004: from 66m depth 40m at 0.68 per cent copper, including 5m at 1.07 per cent copper from 70m and 11m at 1.51 per cent copper from 94m;

Hole 78016: from 8m depth 16m at 0.36 per cent copper, 0.45g/t gold including 6m at 0.75 per cent copper, 1.14g/t gold from 16m; and

Hole 77006: from 31m depth 39m at 0.62 per cent copper, 0.22g/t gold.

“As a company our primary development focus is our Swedish graphite deposits, however we were aware of the district’s high IOCG prospectivity and are pleased that these new findings confirm a substantial copper-gold system at our wholly owned Kiskama project,” Talga Resources managing director Mark Thompson said in the company’s announcement to the Australian Securities Exchange.

“Additionally, Talga’s work has revealed high potential for a much larger copper-gold deposit than previously recognised.

“The proximity of the deposit to road and rail links to nearby mines offers potential synergies for development and we note recent moves by other companies to take land positions adjacent to Talga’s Kiskama tenement.

“We believe these results will open up myriad potential opportunities to commercialise value from this IOCG deposit and Talga’s entire north Sweden portfolio.

“Talga is now better informed to accurately pursue divestment or joint venture opportunities for the Kiskama project.”

Email: admin@talgaresources.com

Website: www.talgaresources.com