Talga Resources Ltd (ASX:TLG) has confirmed broad zones of high-grade cobalt and copper from re-assaying historic diamond drill cores at its Ahmavuoma base metal project in northern Sweden.
An intercept of 73.1 metres at 0.16% cobalt and 0.24% copper from 33.75 metres was confirmed for one of the drill holes, significantly extending the cobalt-copper mineralised zone at Ahmavuoma.
The project area at Ahmavuoma consists of three exploration licences covering 40 square kilometres pegged by Talga in Q2 2017 over a historic site of copper-cobalt-gold-molybdenum mineralisation.
Talga re-logged and re-sampled the drillcores at Ahmavuoma to include previously un-assayed zones to more accurately identify the copper-cobalt-gold mineralisation.
Analysis of the new results also shows a high cobalt to copper mineralisation ratio, which increases the prospectivity for specific cobalt-rich zones to occur within Ahmavuoma.
Interestingly, this is at a time of significant interest in battery material supply chains globally.
The battery industry uses circa 42% percent of global cobalt production, a critical metal for lithium-ion cells.
Talga will now undertake petrographical and mineralogical analysis on core samples from Ahmavuoma to accurately determine the mineralogy.
The company’s share price has almost doubled in the past one year, closing at $0.545 on Thursday.