Battery metals explorer Talga Group (ASX:TLG) is gearing up for a maiden drilling campaign at its Aero Lithium Project in Sweden as it awaits lab results from sampling work and mineralogical studies conducted in the area.
With these results expected in November, the $423.88 million market capitalisation company is expecting to launch its first Aero drilling in either late 2023 or early 2024, following required site clearances.
This initial program will comprise scout diamond drilling in several ‘strategic’ locations across the Aero tenure to help the company better understand the zonation, thickness, stratigraphy, and structure of the main pegmatites in the area.
This is all designed to pave the way for a ‘major’ drilling program currently slated for around the second or third quarter of 2024 during the Swedish summer season.
Talga says it’s engaged in early discussions with potential ‘strategic partners’ to advance the Aero Project, even as the Talga management team remains focused on executing work across its Vittangi Anode Project, also in Sweden.
All these plans come following the completion of a September exploration campaign across lithium-bearing pegmatites at the Aero project.
Talga completed mapping and outcrop sampling to define the distribution of lithium mineralisation in key sites of the main pegmatite. The company says its geologists visually noted lithium mineralisation as spodumene in several samples using UV light prospecting techniques, though it stressed that definitive assay and X-ray diffraction (XRD) analyses are required to confirm this visual interpretation.
Meanwhile, the company used remote sensing surveys to identify new lithium targets across the ‘largely unexplored’ 134km-square area.
Talga Group had $38.597 million cash and cash equivalents at hand as of 30 June 2023, according to its latest quarterly report.
Write to Joshua Smith at Mining.com.au
Images: Talga Group