24 Nov

Exceptional Graphite Results from First 2021 Drilling

Page 1 ASX:TLG ASX Release 24 November 2021 Talga Group Ltd ABN 32 138 405 419 ASX: TLG Germany: TGX USA: TLGRF 1st Floor, 2 Richardson St, West Perth 6005 Australia E: info@talgagroup.com T: +61 8 9481 6667 W: www.talgagroup.com • First drill holes of the 2021 program at Talga's Vittangi Graphite Project return exceptional graphite grades, with downhole intercepts including : • NUN21001: 50m @ 29.2% Cg (from 4m) incl. 21m @ 41.9% Cg (from 26m ) • NUS21002: 34m @ 27.7% Cg (from 26m) • NUS21003: 24m @ 27.0% Cg (from 33m) • NUS21004: 33m @ 21.0% Cg (from 24m) • NUS21005: 40m @ 26.0% Cg (from 19m) • NUS21006: 38m @ 25.1% Cg (from 21m) • Positive drill results to underpin revision of resources and optimisation of mine plans, with balance of results expected over Dec 2021 and early 2022 Battery anode and advanced materials company Talga Group Ltd (“ Talga ” or “ the Company ”) is pleased to report the ? rst assay results received from recently completed drilling ( ASX:TLG 26 October 2021 ) at the Company's 100% owned Vittangi Graphite Project in Sweden ("Vittangi" or "the Project") . The 2021 Vittangi drill program tested multiple targets of natural graphite; an EU de ? ned 'critical mineral' and Talga’s source of raw material for its integrated Li-ion battery anode production facility under development in Sweden . The initial 56 diamond drillholes for 6,790 meters was completed across strategically important development and growth targets (see Table 1) of what is already Europe's largest and highest grade JORC graphite resource . Exceptional Graphite Results from First Holes of 2021 Vittangi Drilling Figure 1 2021 Drilling at Talga's Vittangi Graphite Project in Norrbotten, Sweden. The Company has now received assay results from the initial six drill holes of this program, which were drilled at the Nunasvaara South deposit. These holes were designed to in?ll and upgrade the status of ore blocks in the starter pit (Pit 4) of the DFS mine plan ( ASX:TLG 1 July 2021 ). All holes successfully intersected the targeted graphite unit over approximately 100m of strike and returned signi?cant high-grade graphite ("Cg") results from near surface (see Table 2 and Figure 2). Drillhole location details are in Figure 3 and Table 3, with assay result details provided in Appendix Table 7. Deposit Target No. of Holes Drill Meters Assay Status Nunasvaara South Pit 4 Resource 6 431 Received Nunasvaara South Pit 4 Geotech 5 396 Pending Nunasvaara South Pit 5 Resource 3 720 Pending Nunasvaara South Depth Extension 6 1,235 Pending Nunasvaara North Depth & Strike Extension 5 895 Pending Niska South Depth & Strike Extension 11 1,261 Pending Nunasvaara East Discovery 18 1,648 Pending Nunasvaara North Strike Extension 2 205 Pending Table 1 2021 Vittangi Diamond Drilling Targets and Assay Result Status. Hole Intercept (Downhole) Mineralisation Sampling Drill hole From (m) To (m) Intercept (m) Cg (%) Max Internal Dilution (m) NUS21001 4.00 54.35 50.35 29.18 4.80 including 26.00 47.00 21.00 41.87 none NUS21002 26.00 60.30 34.30 27.69 1.85 including 38.85 54.00 15.15 35.49 none NUS21003 33.00 57.40 24.40 27.11 0.85 including 47.00 55.55 8.55 30.88 none NUS21004 23.85 57.00 33.15 21.22 3.00 including 26.00 43.00 17.00 27.66 none NUS21005 19.00 59.00 40.00 26 . 00 1.1 including 31.00 46.00 15.00 32.18 none NUS21006 21.00 58.60 37.60 25.13 none including 27.00 47.00 20.00 31.13 none Table 2 Vittangi Graphite Project 'Pit 4 Resource' drilling significant intercept details (lower cut off 10% Cg). Note all intercepts are downhole widths and are not necessarily indicative of true width. All samples submitted to ALS Global (Malå) for C-IR07, S-IR08, C-IR18 and ME-ICP06 analysis. Talga Managing Director, Mark Thompson, commented : “We are very pleased with the graphite results starting to come in from the 2021 drilling at Vittangi. The grades include some of the highest ever from the project, improving the potential to optimise the mine plan and upwardly revise ore reserves. This supports our goal of green anode production by further minimising the footprint of the project and is an exciting development in this time of rising graphite material prices. We look forward to further results from the balance of drilling and subsequent development of this strategically important resource for battery manufacturers in Europe.” Talga expects assay results from the remaining 50 drill holes to be received over December 2021 and early 2022. Authorised for release by the Board of Directors of Talga Group Ltd. For further information please contact: Mark Thompson Nikki Löf Managing Director Group Communications Manager Talga Group Ltd Talga Group Ltd T: +61 (0) 8 9481 6667 T: +61 (0) 8 9481 6667 Figure 2 Cross-section of drillhole NUS21001, including historic Trench 6 (ASX:TLG 5 July 2012) at Nunasvaara South deposit, Vittangi Graphite Project. Figure 3 Vittangi Graphite Project drillhole and deposit locations. Borehole ID Deposit SWEREFF 99TM Azimuth Dip EOH Depth (m) Easting Northing NUS21001 Nunasvaara South 769862 7524624 94 -55 67.4 NUS21002 769871 7524592 93 -58 71.3 NUS21003 769891 7524542 88 -52 68.0 NUS21004 769921 7524500 87 -58 77.4 NUS21005 769940 7524473 87 -64 70.1 NUS21006 769951 7524451 89 -56 76.5 NUS21007 Nunasvaara South 769986 7524792 269 -39 211.5 NUS21008 769981 7524775 269 -40 257.6 NUS21010 769963 7524816 268 -39 250.3 NUS21011 Nunasvaara South 770155 7524159 51 -82 159.1 NUS21012 770008 7524290 55 -81 197.4 NUS21013 769898 7524456 53 -66 155.6 NUS21014 769834 7524621 51 -74 188.7 NUS21015 769974 7524755 265 -45 251.5 NUS21016 769965 7524821 322 -77 282.3 NUSGT21001 Nunasvaara South 769849 7524630 359 -61 85.6 NUSGT21002 769857 7524551 221 -71 66.1 NUSGT21003 769832 7524592 283 -70 70.8 NUSGT21004 769867 7524614 119 -45 92.7 NUSGT21005 769890 7524505 1 -60 80.3 NUN21001 Nunasvaara North 770493 7525827 122 -66 174.3 NUN21002 770550 7525927 129 -65 182.1 NUN21003 770677 7526091 139 -64 161.8 NUN21004 770607 7525996 128 -73 170.0 NUN21005 770763 7526139 141 -70 207.1 NUN21006 Nunasvaara North 770860 7526184 143 -50 94.5 NUN21007A 770826 7526221 138 -51 110.5 NIS21001 Niska South 771688 7526723 118 -45 67.85 NIS21002 771687 7526723 118 -65 104.5 NIS21003 771659 7526740 117 -59 140.7 NIS21004 771628 7526682 116 -64 137.4 NIS21005 771604 7526621 118 -70 122.3 NIS21006 771572 7526594 119 -45 82.4 NIS21007 771555 7526605 124 -55 103.6 NIS21008 771538 7526614 119 -62 151.8 NIS21009 771714 7526766 122 -45 80.1 Table 3 Diamond drillhole details for 2021 programme completed at the Vittangi Graphite Project. All coordinates are in Swedish Grid SWEREF(TM99) and have been located with a RTK GPS. Drill dimension for all holes excluding Niska South is NQ2, Niska South drill dimension is WL76. All drillholes have been downhole surveyed. Borehole ID Deposit SWEREFF 99TM Azimuth Dip EOH Depth (m) Easting Northing NIS21010 Niska South 771713 7526766 120 -64 106.3 NIS21011 771683 7526783 119 -65 164.3 NUN21012 Nunasvaara East 771132 7525459 92 -50 80.1 NUN21013 771079 7525459 89 -51 125.7 NUN21014 771131 7525358 88 -50 98.4 NUN21015 771082 7525359 92 -49 145.6 NUN21016 771134 7525258 92 -50 85.1 NUN21017 771073 7525259 89 -50 130.7 NUN21018 770986 7525462 31 -49 161.8 NUN21019 771012 7525504 28 -51 110.8 NUN21020 771033 7525540 32 -50 67.0 NUN21021 771163 7525309 88 -50 53.3 NUN21022 771152 7525409 87 -50 59.3 NUN21023 771112 7525504 52 -50 50.7 NUN21024 770972 7525525 29 -50 101.5 NUN21026 770924 7525546 31 -49 86.3 NUN21028 770457 7524994 122 -49 71.5 NUN21029 770442 7524947 119 -49 74.7 NUN21030 770514 7524960 300 -50 77.2 NUN21032 771093 7525488 48 -50 68.5 2021 Exploration Target Vittangi Graphite Project Tonnage Range (low-high) 170Mt 200Mt Grade Range (low-high) 20% Cg 30% Cg Table 6 Vittangi Anode Project Exploration Target. Deposit Resource Category Tonnage (t) Graphite (% Cg) Contained Graphite (t) Nunasvaara South Indicated 8,600,000 24.8 2,132,800 Inferred 1,900,000 22.5 427,700 Nunasvaara North Indicated 1,800,000 29.4 529,200 Inferred 2,600,000 14.8 385,000 Niska North Indicated 4,160,000 25.8 1,074,528 Niska South Indicated 480,000 25.8 123,696 Total Indicated & Inferred 19,500,000 24.0 4,672,700 Table 4 Total Vittangi Project Graphite Mineral Resources. Note: 1. Due to rounding totals may not reconcile exactly. 2. Ore tonnes rounded to nearest hundred thousand tonnes. 3. Nunasvaara and Niska Resources at 10%Cg cut-off, as at 17 September 2020. 4. The Nunasvaara graphite MRE was disclosed on 17 September 2020 in accordance with the 2012 JORC Code (ASX:TLG 17 September 2020). The Niska graphite MRE was disclosed in October 2019 in accordance with the 2012 JORC Code (ASX:TLG 15 October 2019). Deposit Reserve Category Tonnage (t) Graphite (% Cg) Contained Graphite (t) Nunasvaara South Probable 2,260,140 24.1 544,693 Total 2,260,140 24.1 544,693 Table 5 Vittangi Project Nunasvaara Ore Reserve Statement. Note: 1. Due to rounding totals may not reconcile exactly. 2. The Nunasvaara Ore Reserve was disclosed in July 2021 in accordance with the 2012 JORC Code (ASX:TLG 1 July 2021). Note that the potential quantity and grade of the Exploration Target is conceptual in nature, there has been insuf ? cient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Competent Persons Statement The information in this document that relates to the exploration results and the exploration target is based on information compiled by Albert Thamm. Mr Thamm is a consultant to the Company and a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy (Membership No.203217). Mr Thamm has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Thamm consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Mr Thamm does not hold securities (directly or indirectly) in the Company. The Niska Mineral Resource was first reported in the Company’s announcement dated 15 October 2019 titled ‘Talga Substantially Increases Flagship Graphite Resource Size, Grade and Status’. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement and that all material assumptions and technical parameters underpinning the Resource estimate in the previous market announcement continue to apply and have not materially changed. The Nunasvaara Mineral Resource was reported in the Company’s announcement dated 20 September 2020. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement and that all material assumptions and technical parameters underpinning the Resource estimate in the previous market announcement continue to apply and have not materially changed. The Nunasvaara Ore Reserve statement was first reported in the Company’s announcement dated 1 July 2021 titled ‘Robust Vittangi Anode Project DFS’. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous market announcement and that all material assumptions and technical parameters underpinning the Reserve estimate in the previous market announcement continue to apply and have not materially changed. The Company first reported the production targets and forecast financial information referred to in this announcement in accordance with Listing Rules 5.16 and 5.17 in its announcement titled 'Robust Vittangi Anode Project DFS' dated 1 July 2021. The Company confirms that all material assumptions underpinning those production targets and forecast financial information derived from those production targets continue to apply and have not materially changed. The Information in this announcement that relates to prior exploration results for the Vittangi graphite project is extracted from ASX announcements available to view on the Company’s website at www.talgagroup.com. The Company confirms that it is not aware of any new information or data that materially affects the exploration results included in the relevant original market announcements. The Company confirms that the form and context in which the Competent Person and Qualified Person’s findings are presented have not been materially modified from the relevant original market announcements. About Talga Talga Group Ltd (ASX:TLG) is building a European battery anode and graphene additives supply chain, to offer advanced materials critical to its customers’ innovation and the shift towards a more sustainable world. Vertical integration, including ownership of several high-grade Swedish graphite projects, provides security of supply and creates long-lasting value for stakeholders. Company website: www.talgagroup.com Forward-Looking Statements & Disclaimer Statements in this document regarding the Company's business or proposed business, which are not historical facts, are forward-looking statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements. This announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. This document does not constitute investment advice and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this representation are not intended to represent recommendations of particular investments to particular investments to particular persons. APPENDIX Borehole ID Intersection Mineralisation Sample Type From (m) To (m) Intercept down hole (m) Cg% NUS21001 4.00 5.00 1.00 10.75 Half Core NUS21001 5.00 6.00 1.00 30.40 Half Core NUS21001 6.00 7.00 1.00 34.20 Quarter Core NUS21001 7.00 8.00 1.00 23.70 Half Core NUS21001 8.00 9.00 1.00 23.10 Half Core NUS21001 9.00 10.00 1.00 23.20 Half Core NUS21001 10.00 11.00 1.00 27.20 Half Core NUS21001 11.00 12.00 1.00 30.80 Half Core NUS21001 12.00 13.00 1.00 22.50 Half Core NUS21001 13.00 14.00 1.00 23.80 Half Core NUS21001 14.00 15.00 1.00 30.20 Half Core NUS21001 15.00 16.00 1.00 30.00 Half Core NUS21001 16.00 17.00 1.00 17.75 Half Core NUS21001 17.00 18.00 1.00 18.25 Half Core NUS21001 18.00 18.65 0.65 4.74 Half Core NUS21001 18.65 19.70 1.05 0.08 Half Core NUS21001 19.70 20.00 0.30 18.65 Half Core NUS21001 20.00 21.00 1.00 35.60 Half Core NUS21001 21.00 21.55 0.55 21.00 Half Core NUS21001 21.55 22.45 0.90 2.17 Half Core NUS21001 22.45 23.00 0.55 35.00 Half Core NUS21001 23.00 23.80 0.80 24.50 Half Core NUS21001 23.80 24.20 0.40 0.06 Half Core NUS21001 24.20 25.00 0.80 1.72 Half Core NUS21001 25.00 26.00 1.00 8.91 Half Core NUS21001 26.00 27.00 1.00 46.70 Half Core NUS21001 27.00 28.00 1.00 45.70 Half Core NUS21001 28.00 29.00 1.00 47.00 Half Core NUS21001 29.00 30.00 1.00 45.70 Half Core NUS21001 30.00 31.00 1.00 44.70 Half Core NUS21001 31.00 32.00 1.00 42.30 Half Core NUS21001 32.00 33.00 1.00 44.80 Half Core NUS21001 33.00 34.00 1.00 40.90 Half Core NUS21001 34.00 35.00 1.00 45.30 Half Core NUS21001 35.00 36.00 1.00 46.90 Half Core NUS21001 36.00 37.00 1.00 48.30 Quarter Core Table 7 Detailed graphite assay results for significant intersections of drillholes NUS21001-6 (10% graphitic carbon lower cut-off grade). All samples submitted to ALS Global (Malå) for C-IR07, S-IR08, C-IR18 and ME-ICP06 analysis. Borehole ID Intersection Mineralisation Sample Type From (m) To (m) Intercept down hole (m) Cg% NUS21001 37.00 38.00 1.00 47.80 Half Core NUS21001 38.00 39.00 1.00 44.20 Half Core NUS21001 39.00 40.00 1.00 44.70 Half Core NUS21001 40.00 41.00 1.00 44.60 Half Core NUS21001 41.00 42.00 1.00 40.00 Half Core NUS21001 42.00 43.00 1.00 37.90 Half Core NUS21001 43.00 44.00 1.00 29.20 Half Core NUS21001 44.00 45.00 1.00 30.10 Half Core NUS21001 45.00 46.00 1.00 32.10 Half Core NUS21001 46.00 47.00 1.00 30.40 Half Core NUS21001 47.00 48.00 1.00 22.40 Half Core NUS21001 48.00 49.00 1.00 24.70 Half Core NUS21001 49.00 50.00 1.00 22.70 Half Core NUS21001 50.00 51.00 1.00 12.05 Half Core NUS21001 51.00 52.00 1.00 10.40 Half Core NUS21001 52.00 53.00 1.00 18.50 Half Core NUS21001 53.00 54.00 1.00 20.30 Half Core NUS21001 54.00 54.35 0.35 17.10 Half Core NUS21002 26.00 27.00 1.00 10.80 Half Core NUS21002 27.00 28.00 1.00 16.30 Half Core NUS21002 28.00 29.00 1.00 18.40 Half Core NUS21002 29.00 30.00 1.00 21.70 Half Core NUS21002 30.00 31.00 1.00 20.80 Half Core NUS21002 31.00 32.00 1.00 27.30 Half Core NUS21002 32.00 33.00 1.00 26.50 Half Core NUS21002 33.00 34.00 1.00 34.60 Half Core NUS21002 34.00 35.00 1.00 29.70 Half Core NUS21002 35.00 36.00 1.00 27.50 Half Core NUS21002 36.00 37.00 1.00 24.30 Half Core NUS21002 37.00 38.00 1.00 5.53 Half Core NUS21002 38.00 38.30 0.30 4.77 Half Core NUS21002 38.30 38.85 0.55 2.87 Half Core NUS21002 38.85 40.00 1.15 25.30 Half Core NUS21002 40.00 41.00 1.00 20.40 Quarter Core NUS21002 41.00 42.00 1.00 37.20 Half Core NUS21002 42.00 43.00 1.00 36.50 Half Core NUS21002 43.00 44.00 1.00 36.70 Half Core NUS21002 44.00 45.00 1.00 44.30 Half Core NUS21002 45.00 46.00 1.00 44.50 Half Core NUS21002 46.00 47.00 1.00 41.60 Half Core Borehole ID Intersection Mineralisation Sample Type From (m) To (m) Intercept down hole (m) Cg% NUS21002 47.00 48.00 1.00 34.00 Half Core NUS21002 48.00 49.00 1.00 39.40 Half Core NUS21002 49.00 50.00 1.00 36.40 Half Core NUS21002 50.00 51.00 1.00 37.90 Half Core NUS21002 51.00 52.00 1.00 35.00 Half Core NUS21002 52.00 53.00 1.00 35.70 Half Core NUS21002 53.00 54.00 1.00 32.80 Half Core NUS21002 54.00 55.00 1.00 21.30 Half Core NUS21002 55.00 56.00 1.00 23.60 Half Core NUS21002 56.00 57.00 1.00 13.95 Half Core NUS21002 57.00 58.00 1.00 25.10 Half Core NUS21002 58.00 59.00 1.00 23.70 Half Core NUS21002 59.00 60.00 1.00 26.20 Half Core NUS21002 60.00 60.30 0.30 26.20 Half Core NUS21003 33.00 34.00 1.00 19.15 Half Core NUS21003 34.00 35.00 1.00 28.00 Half Core NUS21003 35.00 36.00 1.00 27.50 Half Core NUS21003 36.00 37.00 1.00 31.50 Half Core NUS21003 37.00 38.00 1.00 28.40 Half Core NUS21003 38.00 39.00 1.00 15.10 Half Core NUS21003 39.00 40.00 1.00 24.10 Half Core NUS21003 40.00 41.00 1.00 29.10 Half Core NUS21003 41.00 42.00 1.00 35.30 Half Core NUS21003 42.00 43.00 1.00 32.80 Half Core NUS21003 43.00 44.00 1.00 25.80 Half Core NUS21003 44.00 45.00 1.00 21.30 Half Core NUS21003 45.00 46.15 1.15 22.20 Half Core NUS21003 46.15 46.45 0.30 0.49 Half Core NUS21003 46.45 47.00 0.55 21.40 Half Core NUS21003 47.00 48.00 1.00 28.90 Half Core NUS21003 48.00 49.00 1.00 29.70 Half Core NUS21003 49.00 50.00 1.00 27.90 Half Core NUS21003 50.00 51.00 1.00 32.00 Quarter Core NUS21003 51.00 52.00 1.00 19.70 Half Core NUS21003 52.00 53.00 1.00 25.80 Half Core NUS21003 53.00 54.00 1.00 33.80 Half Core NUS21003 54.00 55.00 1.00 34.10 Half Core NUS21003 55.00 55.55 0.55 32.10 Half Core NUS21003 55.55 56.10 0.55 6.10 Half Core NUS21003 56.10 57.00 0.90 17.15 Half Core Borehole ID Intersection Mineralisation Sample Type From (m) To (m) Intercept down hole (m) Cg% NUS21003 57.00 57.40 0.40 12.15 Half Core NUS21004 23.85 25.00 1.15 14.15 Half Core NUS21004 25.00 26.00 1.00 15.55 Half Core NUS21004 26.00 27.00 1.00 20.30 Half Core NUS21004 27.00 28.00 1.00 23.70 Half Core NUS21004 28.00 29.00 1.00 22.10 Half Core NUS21004 29.00 30.00 1.00 31.70 Half Core NUS21004 30.00 31.00 1.00 27.70 Half Core NUS21004 31.00 32.00 1.00 32.50 Half Core NUS21004 32.00 33.00 1.00 31.60 Quarter Core NUS21004 33.00 34.00 1.00 28.60 Half Core NUS21004 34.00 35.00 1.00 26.60 Half Core NUS21004 35.00 36.00 1.00 16.85 Half Core NUS21004 36.00 37.00 1.00 20.80 Half Core NUS21004 37.00 38.00 1.00 20.40 Half Core NUS21004 38.00 39.00 1.00 37.00 Half Core NUS21004 39.00 40.00 1.00 41.00 Half Core NUS21004 40.00 41.00 1.00 34.40 Half Core NUS21004 41.00 42.00 1.00 32.80 Half Core NUS21004 42.00 43.00 1.00 22.20 Half Core NUS21004 43.00 43.40 0.40 17.85 Half Core NUS21004 43.40 44.00 0.60 12.65 Half Core NUS21004 44.00 45.00 1.00 14.15 Half Core NUS21004 45.00 46.00 1.00 7.76 Half Core NUS21004 46.00 47.00 1.00 18.75 Half Core NUS21004 47.00 48.00 1.00 12.40 Half Core NUS21004 48.00 49.00 1.00 10.30 Half Core NUS21004 49.00 50.00 1.00 12.85 Half Core NUS21004 50.00 51.00 1.00 7.07 Half Core NUS21004 51.00 52.00 1.00 10.30 Half Core NUS21004 52.00 53.00 1.00 19.10 Half Core NUS21004 53.00 54.00 1.00 11.95 Half Core NUS21004 54.00 55.00 1.00 7.26 Half Core NUS21004 55.00 56.00 1.00 26.60 Half Core NUS21004 56.00 57.00 1.00 14.35 Half Core NUS21004 57.00 58.00 1.00 7.35 Half Core NUS21004 58.00 59.00 1.00 5.53 Quarter Core NUS21004 59.00 60.00 1.00 6.18 Half Core NUS21004 60.00 61.05 1.05 23.50 Half Core NUS21004 62.10 62.30 0.20 8.57 Half Core Borehole ID Intersection Mineralisation Sample Type From (m) To (m) Intercept down hole (m) Cg% NUS21005 19.00 20.00 1.00 12.05 Half Core NUS21005 20.00 21.00 1.00 14.55 Half Core NUS21005 21.00 22.00 1.00 16.20 Half Core NUS21005 22.00 23.00 1.00 19.55 Half Core NUS21005 23.00 24.00 1.00 26.20 Half Core NUS21005 24.00 25.00 1.00 27.20 Half Core NUS21005 25.00 26.00 1.00 21.50 Half Core NUS21005 26.00 27.00 1.00 30.40 Half Core NUS21005 27.00 28.00 1.00 33.70 Half Core NUS21005 28.00 28.35 0.35 26.30 Half Core NUS21005 28.35 29.00 0.65 0.00 Half Core NUS21005 29.00 29.45 0.45 5.14 Half Core NUS21005 29.45 30.00 0.55 35.00 Half Core NUS21005 30.00 31.00 1.00 22.60 Half Core NUS21005 31.00 32.00 1.00 29.80 Half Core NUS21005 32.00 33.00 1.00 29.60 Quarter Core NUS21005 33.00 34.00 1.00 33.80 Half Core NUS21005 34.00 35.00 1.00 28.60 Half Core NUS21005 35.00 36.00 1.00 25.40 Half Core NUS21005 36.00 37.00 1.00 28.70 Half Core NUS21005 37.00 38.00 1.00 34.70 Half Core NUS21005 38.00 39.00 1.00 34.30 Half Core NUS21005 39.00 40.00 1.00 38.20 Half Core NUS21005 40.00 41.00 1.00 35.10 Half Core NUS21005 41.00 42.00 1.00 39.00 Half Core NUS21005 42.00 43.00 1.00 32.20 Half Core NUS21005 43.00 44.00 1.00 35.00 Half Core NUS21005 44.00 45.00 1.00 29.50 Half Core NUS21005 45.00 46.00 1.00 28.80 Half Core NUS21005 46.00 47.00 1.00 19.95 Half Core NUS21005 47.00 48.00 1.00 23.20 Half Core NUS21005 48.00 49.00 1.00 21.10 Half Core NUS21005 49.00 50.00 1.00 17.00 Half Core NUS21005 50.00 51.00 1.00 16.25 Half Core NUS21005 51.00 52.00 1.00 25.20 Half Core NUS21005 52.00 53.00 1.00 33.10 Half Core NUS21005 53.00 54.00 1.00 18.05 Half Core NUS21005 54.00 55.00 1.00 18.85 Half Core NUS21005 55.00 56.00 1.00 17.70 Half Core NUS21005 56.00 57.00 1.00 23.00 Quarter Core Borehole ID Intersection Mineralisation Sample Type From (m) To (m) Intercept down hole (m) Cg% NUS21005 57.00 58.00 1.00 21.70 Half Core NUS21005 58.00 59.00 1.00 11.75 Half Core NUS21006 21.00 22.00 1.00 10.40 Half Core NUS21006 22.00 23.00 1.00 14.60 Half Core NUS21006 23.00 24.00 1.00 17.95 Half Core NUS21006 24.00 25.00 1.00 24.20 Half Core NUS21006 25.00 26.00 1.00 25.50 Half Core NUS21006 26.00 27.00 1.00 19.80 Half Core NUS21006 27.00 28.00 1.00 33.30 Half Core NUS21006 28.00 29.00 1.00 36.00 Half Core NUS21006 29.00 30.00 1.00 29.60 Half Core NUS21006 30.00 31.00 1.00 32.20 Half Core NUS21006 31.00 32.00 1.00 30.90 Quarter Core NUS21006 32.00 33.00 1.00 31.00 Half Core NUS21006 33.00 34.00 1.00 30.70 Half Core NUS21006 34.00 35.00 1.00 29.60 Half Core NUS21006 35.00 36.00 1.00 33.20 Half Core NUS21006 36.00 37.00 1.00 32.30 Half Core NUS21006 37.00 38.00 1.00 29.40 Half Core NUS21006 38.00 39.00 1.00 31.20 Half Core NUS21006 39.00 40.00 1.00 31.70 Half Core NUS21006 40.00 41.00 1.00 26.30 Half Core NUS21006 41.00 42.00 1.00 33.90 Half Core NUS21006 42.00 43.00 1.00 30.70 Half Core NUS21006 43.00 44.00 1.00 32.90 Half Core NUS21006 44.00 45.00 1.00 28.80 Half Core NUS21006 45.00 46.00 1.00 31.00 Half Core NUS21006 46.00 47.00 1.00 27.80 Half Core NUS21006 47.00 48.00 1.00 22.80 Half Core NUS21006 48.00 49.00 1.00 24.60 Half Core NUS21006 49.00 50.00 1.00 22.30 Half Core NUS21006 50.00 51.00 1.00 19.15 Half Core NUS21006 51.00 52.00 1.00 18.60 Half Core NUS21006 52.00 53.00 1.00 19.70 Half Core NUS21006 53.00 54.00 1.00 14.50 Half Core NUS21006 54.00 55.00 1.00 13.00 Half Core NUS21006 55.00 56.00 1.00 14.20 Half Core NUS21006 56.00 57.00 1.00 12.90 Half Core NUS21006 57.00 58.00 1.00 21.50 Half Core NUS21006 58.00 58.60 0.60 11.30 Half Core The following t ables are provided in compliance with the JORC code (2012) requirements for the reporting of exploration results. Section 1 Sampling Techniques and Data Criteria JORC Code explanation Commentary Sampling techniques • Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representi vity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampli ng problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. • Sampling method is half - core sampling of NQ2 and WL76 diamond drill core. Quarter - core sampling utilised where a duplicate sam ple has been taken. • Sampling was carried out using Talga’s sampling protocols and QAQC procedures as per industry best practice. • Diamond drilling completed using NQ2 and WL76 coring equipment. Drillholes have been sampled on geological intervals or nomina l 1m intervals where appropriate (approx. 3kg/sample). All samples have been crushed, dried and pulverised (total prep) to produce a sub sample for multi - element analysis by four acid digest with ICPMS, total carbon, graphitic carbon and sulphur by Leco, a nd lithium metaborate fusion with ICP - AES for major oxides. Drilling techniques • Drill type (e.g. core, reverse circulation, open - hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face - sampling bit or other type, whether core is oriented and if so, by what method, etc.). • Diamond drilling completed by Northdrill Oy from Finland. • NQ2 and WL76 conventional diamond drilling with core diameter of 50.7mm and 57.5mm respectively. • All drillholes have been orientated. • Downhole surveying completed using a Devico DeviFlex and DeviGyro downhole survey instrument. Drill sample recovery • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse mat erial. • Core recoveries are measured by the drillers for every drill run. The core length recovered is physically measured for each run, recorded and used to calculate the core recovery as a percentage of core recovered. Any core loss is recorded on a core block by the drillers. • Careful drilling techniques in areas of broken ground are employed with communication between the geologist and drillers to maximise core recovery. • A sampling bias has not been determined. Criteria JORC Code explanation Commentary Logging • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged. • All drillcore has been transported from the drill sites to Scott Geological AB located in Malå for cleaning, reconnection of core lengths and measurement of meter marks where required, over the entire hole. • Geological logging has been completed on the entire length of all holes by Mr David Pollard and Mr Nils Reinhardt, Talga geologists under supervision of Mr Tom Kearney, Talga’s Project Geologist, who has si gnificant experience in this style of exploration and mineralisation. • The lithological, mineralogical, alteration and structural characteristic of the core has been logged in digital format and following established procedures. • All drillholes have been p hotographed in both wet and dry states. Sub - sampling techniques and sample preparation • If core, whether cut or sawn and whether quarter, half or all core taken. • If non - core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub - sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is repr esentative of the in situ material collected, including for instance results for field duplicate/second - half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. • All samples delivered to ALS Global in Malå where t he core was cut and sampled. • All samples are half - core except for duplicate samples in which case quarter - core samples have been taken. • The sample preparation follows industry best practice sample preparation; the samples are finely crushed with 70% pass ing <2mm then reduced in a splitter whereby a reject sample and a 250g sample is produced. The 250g sample is then pulverised with 85% passing <75 microns which completely homogenises the sample. A sub - sample of pulp is taken for digestion in a four - acid d igest (multi - element), total carbon, graphitic carbon and sulphur by Leco, and lithium metaborate fusion for major oxides. • Duplicate sampling has been completed at a rate of 1:40 where practicable; duplicate results for all holes are satisfactory. • Certifi ed reference material standards and blanks have been inserted at a rate of 1:20 where practicable; standard and blank results for all holes are within accepted limits. • The sample sizes are considered appropriate for the type of mineralisation under consid eration. Criteria JORC Code explanation Commentary Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. • Selected samples are assayed using a four - acid digest multi - element suite (48 elements) with ICPMS finish. The acids used are hydrofluoric, nitric, hydrochloric and perchloric with the method approaching near total digest for most elements. • Selected sampl es are assayed for total carbon, graphitic carbon and total sulphur via induction furnace / IR. Graphitic carbon is determined by digesting the sample in 50% HCl to evolve carbonate as CO2. Residue is filtered, washed, dried and then roasted at 425°C. The roasted residue is analysed for C, Cg and S by high temperature Leco furnace with infrared detection. • Selected samples are assayed for major oxides using a lithium metaborate fusion with ICP - AES finish. A prepared sample (0.100 g) is added to lithium metab orate/lithium tetraborate flux, mixed well and fused in a furnace at 1000°C. The resulting melt is then cooled and dissolved in 100 mL of 4% nitric acid / 2% hydrochloric acid. This solution is then analysed by ICP - AES and the results are corrected for spe ctral inter - element interferences. Oxide concentration is calculated from the determined elemental concentration and the result is reported in that format. • The analytical methods are considered appropriate for this style of mineralisation. • No geophysical t ools or handheld instruments were utilised in the preparation of this announcement. • Duplicate sampling has been completed at a rate of 1:40 where practicable; duplicate results for all holes are satisfactory. • Certified reference material standards and b lanks have been inserted at a rate of 1:20 where practicable; standard and blank results for all holes are within accepted limits. • Laboratory QAQC methods include the insertion of certified reference material standards, blanks, and duplicates. Criteria JORC Code explanation Commentary Verification of sampling and assaying • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (phy sical and electronic) protocols. • Discuss any adjustment to assay data. • Determination of the reported downhole intervals of mineralisation have been verified by alternative company personnel both in person and via electronic photographic data. • No twin - hole drilling completed to date although several scissor holes have been completed and showed excellent correlation. • All geological and location data is stored in Excel spreadsheets prior to being uploaded to the Company’s database. Data entry has been by manua l input and validation of the data has been done by checking input on - screen prior to saving. • No adjustments or calibrations were made to any assay data used in this report. Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and down - hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. • Drillhole locations were planned using a combin ation of GIS software packages. • Drillhole locations were determined using a Trimble R10 RTK GPS unit with an accuracy of +/ - 0.05m. Drill azimuths were determined with a Trimble R10 RTK GPS that has a precision of +/ - 2 degrees. • Downhole surveys were compl eted using a Devico Deviflex and a DeviGyro downhole survey instrument at regular intervals. • Grid system is Swedish Coordinate system SWEREF99 TM. • Topographic control has been established by a Trimble R10 RTK GPS that has a precision of 0.05m and is adequa te for the exploration completed. Criteria JORC Code explanation Commentary Data spacing and distribution • Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. • Drill hole profile spacing varies depending on the target and varies between 12.5m and 100m. See attached location plans, cro ss sections and tables. • Previous drilling (Talga and historical) combined with trial mining, trenching, rock chip sampling of outcropping ore and detailed electromagnetic (EM) geophysical data show and confirm excellent continuity of the stratiform graph ite unit. The current drillhole spacing across the Vittangi Graphite Project is considered appropriate to allow for a JORC - compliant Mineral Resource Estimate (MRE) to be completed. • No sample compositing has been applied. Orientation of data in relation to geological structure • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. • The drillhole orientation is considered appropriate with the drill holes being drilled perpendicular to the interp reted strike of the mineralisation and lithology. • No sample bias as a consequence of orientation - based sampling has been identified Sample security • The measures taken to ensure sample security. • Sample chain of custody is manage d by the Company with drill core transported by courier from the project to Scott Geological AB’s secure facility in Malå. Audits or reviews • The results of any audits or reviews of sampling techniques and data. • No external audits or reviews of the samplin g techniques and data have been completed to date. Results have been reviewed internally by the company’s consulting geologist Mr Albert Thamm , F.Aus.IMM and no issues have been identified. Section 2 Reporting of Exploration Results Criteria JORC Code explanation Commentary Mineral tenement and land tenure status • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. • The Vittangi Project is loca ted on licences Nunasvaara nr 2 and Vittangi nr 2 owned 100% by the Company’s Swedish subsidiary, Talga Graphene AB. The diamond drilling during 2021 is located across both licences. • The licences are wholly owned by the Company and are located in forested areas used for logging and seasonal grazing by local indigenous Sami reindeer herders. The Natura 2000 registered Vittangi River is located approximately 2km to the east of Niska. • The licence is in good standing with no known impediments. Exploration don e by other parties • Acknowledgment and appraisal of exploration by other parties. • Graphite was first identified at Nunasvaara in the early 1900’s and has been extensively explored since that time. In the early 1980’s LKAB completed diamond drilling and test mining at Nunasvaara. More recently the area has been explored by Anglo American and Teck Cominco for copper and base metals prospectivity. Geology • Deposit type, geological setting and style of mineralisation. • The graphite mineralisation at the Vittangi Graphite Project is a sub - vertical, ~15 - 100m wide lithologically continuous unit of very fine grained, dark - grey to black graphite containing 10 - 50% graphitic carbon. The hangingwall is comprised of mafic volcano clastics and tuffacous units and the footwall to the mineralisation is a mafic intrusive (dolerite - gabbro). The graphite units are regionally extensive over many kilometres and are interpreted to have developed in a shallow fresh - water basin in the early P roterozoic (Circa 2.0 billion years). Subsequent deformation, possibly related to domal intrusive bodies have metamorphosed and tilted the units to the sub - vertical orientations present today. • The graphite at the Vittangi Project is very fine grained, h ighly crystalline and very high grade. Metallurgical testwork completed by the Company shows a range of commercial battery anode and graphene products can be produced. Criteria JORC Code explanation Commentary Drill hole Information • A summary of all information material to the understanding of t he exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and az imuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. • Drillhole information pertaining to the drilling at the Vittangi Graphite Project is summarised in the figures and tables in the text of this announcement. Data aggregation methods • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut - off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values sho uld be clearly stated. • The significant graphite intercepts in this announcement are based on = 10% Cg and include varying amounts of internal dilution as specified in the applicable tables. • No top cut - off grade has been applied. • Length - weighted averaging has been used to calculate all intercepts in this announcement. Length - weighted averaging has been used given that sampling intervals were determined geologically and not always nominally. • No metal equivalents have been used in this report. Criteria JORC Code explanation Commentary Relationship between mineralisation widths and intercept lengths • These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). • The reported mineralisation intercepts are downhole widths and not true widths, w hich are unknown at this time. • The geometry of the graphite mineralisation at the Vittangi Graphite Project is quite well understood and all drilling has been completed perpendicular to the strike of the mineralisation. The main hangingwall graphite unit is sub - vertical and appears to have a variable dip (~80 - 90°). Drillholes have been drilled at varying azimuths depending on the target strike and accessibility of the drill rig; as the dip is so close to vertical the Company does not believe a significant bias has been introduced by drilling in either direction. Further drilling is required to determine the exact dip of the graphite units but the drillhole information received to date does appear to support a variable dip. Diagrams • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. • Appropriate maps an d cross - sections have been included in the text of this announcement. Balanced reporting • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. • All significant intercepts above the nominal cut - off grade of 10% Cg have been reported. • This announcement provides the total information available to date and is considered to represent a balanced report. Other substantive exploration data • Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk sa mples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. • A substantial amount of work has been completed at the Vittangi Graphite Project by both historic explorers and more recently by Talga. Work has included geophysical surveys, rock chip sampling, MMI soil sampling, trenching, diamond drilling, metallurgical testwork and trial mining. A DFS for the Nunasvaara South deposit was co mpleted by the Company ( ASX:TLG 1 July 2021 ). Criteria JORC Code explanation Commentary Further work • The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large - scale step - out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. • A JORC - compliant MRE has been scheduled to be completed at the conclusion of the diamond drilling programme at the Vittangi Graphite Project. Metallurgical and process testwork on drillcore from the 2021 drill program will be completed by Core Resources Pty Ltd at the conclusion of the drilling programme.

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