Talga Resources has reported the results of new iron ore resource estimates across its Vittangi project magnetite deposits in northern Sweden. As foreshadowed in the Talga announcement dated July 5, the opportunity to review historical data at Vittangi had not arisen until now and the positive outcomes achieved will allow Talga to package a material resource inventory across two projects ready for divestment. Highlights include a maiden JORC Inferred resource estimate of 124 Mt grading 33%Femag across the Vittangi project magnetite iron deposits. This doubles Talga’s Swedish iron resources – from 112 Mt to 236 Mt. Other highlights include:
- Vittangi located just 45 km east of Kiruna – one of the world’s largest, most modern underground iron mines
- Major potential to extend Vittangi iron deposits along strike and at depth
- 100% owned by Talga
- Additional Exploration Targets1 of 50-83 Mt grading 30 – 34% Femag defined at Vittangi project.
Managing Director’s comment: “The [newly calculated] Vittangi resources are higher grade than Talga’s Masugnsbyn iron ore project and lie 40 km closer to rail infrastructure. The new combined resource across both projects delivers an attractive opportunity for development, joint venturing or sale. Both iron projects are contained within the Kiruna mineral district, a mining province hosting the largest iron mines in Europe and are supported by established bulk commodity infrastructure including magnetite concentrators, iron pellet plants, grid power, public access rail and port infrastructure. Talga’s priority in Sweden remains development of our high grade graphite deposits, but these new iron results deliver another development or asset realisation opportunity.”
The next actions are to review Vittangi’s high grade sections for any ore suitable for transport to a toll treatment facility (Vathanvaara drillhole Vath_71_202 returned 64 m @ 50.1% Femag including 5 m @ 71.6% Femag). Talga will also maintain ongoing negotiations to attract a partner to develop or buy both iron ore projects.