re: Ann: 110% Increase in Nunasvaara Graphite... Now this what...

re: Ann: 110% Increase in Nunasvaara Graphite...

Now this what you call a resource, there for all to see.

TALGA GOLD LTD ASX AND MEDIA RELEASE PAGE 1
• Nunasvaara mineral resource increased 110% to 7.6Mt @ 24.4%
graphitic carbon (“Cg”).
• 5.6Mt @ 24.6% Cg classified Indicated.
• Contained total graphite increased 123% to 1.8Mt.
• Preliminary economic studies to commence in December.
Talga Gold Limited (ASX: TLG; “Talga” or “the Company”) is pleased to announce the
updated JORC Mineral Resource estimate for the 100% owned Nunasvaara graphite
deposit in northern Sweden.
The Indicated and Inferred estimate for Nunasvaara now totals 7.6 million tonnes at
24.4% Cg when applying a 10% Cg cut-off, a 110% increase in size (tonnage) over
the previous estimate, with 5.6 million tonnes at 24.6% Cg in the Indicated
category. Details of the Mineral Resource are shown in Table 1 and parameters relevant
to the estimation are provided in Appendix 1.
This estimate has been calculated by qualified independent consultant CoxsRocks Pty
Ltd and is reported in accordance with the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves (2004), the “JORC” Code.
The growth in the resource and upgrading of the majority of the tonnes to Indicated
status follows Talga's successful maiden drilling campaign of July, and reflects additional
mineralisation defined along strike and down-dip of historic drilling (Fig 1). Total
contained graphite has increased 123% to 1.85 million tonnes, more than double the
size of the previously reported estimate (3.6Mt @ 23% Cg containing 828,000 tonnes
reported ASX:TLG 28 Feb 2012).
Graphite mineralisation remains open along strike and at depth, with geophysical data
and mapping suggesting potential for further expansion. In addition the assay results of
a recent rock geochemical program are pending and will be reviewed with the aim of
drilling extension targets in conjunction with geotechnical drilling for mining studies.
Managing Director, Mark Thompson said “Our targeted upgrade in size and status of this
major graphite resource to support a 20 year open-cut mine life has been exceeded by a
considerable margin. The deposit represents a significant new source of graphite not
only for Europe, which in 2011 had to import approximately 170,000 tonnes natural
graphite*, but is one of the largest amounts of contained graphite defined by JORC or
NI43-101 codes anywhere in the world (Fig 2). The increased status and size of the
resource will be utilised in preliminary economic studies due to commence in
December.”
*source; “Natural & Synthetic Graphite:Global Industry Markets & Outlook, 8th Edition 2012, Roskill.
8 NOVEMBER 2012 ASX: TLG
110% increase in Nunasvaara graphite JORC
mineral resource to 7.6Mt @ 24.4% graphite
ASX Code: TLG
Talga Gold Ltd
ABN 32 138 405 419
1st Floor, 2 Richardson St,
West Perth, WA 6005
T: +61 8 9481 6667
F: +61 8 9322 1935
www.talgagold.com
Corporate Information
ASX Code TLG
Shares on issue 53.30m
Options (unlisted) 4.85m
52 week high A$0.77
52 week low A$0.12
Cash (at 31 Oct) A$2.6m
Company Directors
Sean Neary
Non-Executive Director &
Chairman
Mark Thompson
Managing Director
Piers Lewis
Non-Executive Director &
Company Secretary
Classification Tonnes
(Mt)
Graphite
(%Cg)
Contained Graphite
(tonnes)
Indicated 5.6 24.6 1,377,600
Inferred 2.0 24.0 480,000
Total 7.6 24.4 1,857,600
Table 1. Nunasvaara November 2012 Mineral Resource Estimate (10% Cg cut-off grade).
TALGA GOLD LTD ASX AND MEDIA RELEASE PAGE 2
Location
The Nunasvaara graphite deposit is located in northern
Sweden approximately 50km east of the city of Kiruna
(Fig 3). Nunasvaara is one of several graphite deposits
that occur over 15km of strike within Talga's 100%
owned Vittangi project. Additional graphite has been
identified on Talga’s adjacent Mörttjärn and Maltosrova
prospects, located 15km from the Nunasvaara deposit.
Talga also has a further three graphite projects in north
Sweden that host multiple prospects and deposits that
may offer operational synergies with Nunasvaara.
Geology
At Nunasvaara graphite is hosted by meta-argillite that
occurs between dolerite and mafic volcaniclastics of the
Proterozoic Vittangi Greenstone Group. The graphite
unit outcrops and dips approximately 70° to the west
and north with an average 20m true width over at least
1300m strike. Locally the graphite unit attains grades up
to 44% Cg. Preliminary petrography indicates graphite
mineralisation is microcrystalline to crystalline with a
size range of <10-300 microns. Quantitative data on size
distribution will be determined as part of metallurgical
testwork to be undertaken in the preliminary economic
study. Graphite has been identified over 15km of strike
with approximately 8% of this strike length drill tested to
date.
For further information, please contact:
8 NOVEMBER 2012 ASX: TLG
Talga Gold Ltd.
Mark Thompson
Managing Director
+61 (08) 9481 6667
[email protected]
Media:
Warrick Hazeldine/Greg Galton
Cannings Purple +61 (08) 6314 6300
[email protected]
[email protected]
Note: Source TMR Advanced Graphite Projects Index of JORC &
NI43-101 mineral resources Oct 2012 and Company Reports.
Deposits > 0.2Mt plotted.
Fig 1. Nunasvaara Indicated resource block model Nov 2012
Fig 2. Contained Graphite vs Resource Grade Peer Comparison.
TALGA GOLD LTD ASX AND MEDIA RELEASE PAGE 3
8 NOVEMBER 2012 ASX: TLG
Fig 4. Talga’s graphite and iron deposits in the Vittangi area.
Fig 3. Talga tenement locations, graphite projects and established transport infrastructure, Sweden.
TALGA GOLD LTD ASX AND MEDIA RELEASE PAGE 4
8 NOVEMBER 2012 ASX: TLG
Appendix One
Resource Estimation Methodology - Nunasvaara Graphite Deposit: Indicated & Inferred
Data used in the Nunasvaara Graphite Resource Estimate comprised 39 approximately NQ diameter diamond holes
(3646 total metres) and 12 costeans (415 metres total length) along the entire strike length of the deposit (1300
metres). Drill hole spacing was on nominal 50 metre sections. The Indicated resource is estimated to a maximum
vertical depth of 125 metres and the Inferred resource is estimated to a maximum vertical depth of 165 metres.
Talga drilled 19 holes for 1697 metres to infill and confirm historical drilling. Results of recent drilling compared
favourably to historic drilling, with Talga’s new drilling extending the resource along strike and down dip and
resulting in an increase in the confidence level.
Analysis of all mineralised intervals from recent drilling was undertaken at the ALS-Chemex laboratory in Piteå,
Sweden. Individual samples were typically taken over two metre sections of core. Certified reference materials
were inserted every 23rd (Carbon CRM), 24th (Gold CRM) and 25th sample (Blank CRM) with satisfactory results
obtained. Total S and total C were determined using a LECO analyser, with organic (graphitic) carbon determined
by first digesting the sample in dilute hydrochloric acid prior to determination with the LECO analyser. Au, Pt and
Pd were determined using a 30g lead fire assay with ICP-AES finish. A further suite of 48 elements were analysed
using a four acid digest with an ICP-MS finish.
The Swedish RT90 coordinate system was utilised for the drilling, with new and historic drill collars surveyed using
an RTK-GPS. Talga completed systematic bulk density determinations on drill core from the recent program
(n=147) with the average bulk density of the mineralised unit being 2.65 g/cm3. A bulk density of 2.60g/cm3 was
used for the resource estimate.
Interpretation on section was completed with the outlines wireframed together to form coherent validated shapes.
The grade estimation method was ID2 of values lying within validated wireframes (solids) with only the assays from
the individual wireframes/solids used for the interpolation.
Parent block sizes were set at 5m (x), 10m (y) and 5m (z), with the sub-cell size down to half of the parent cell size.
The resource estimate has been classified based on data density, data quality, confidence in the geological
interpretation and confidence in the estimation.
TALGA GOLD LTD ASX AND MEDIA RELEASE PAGE 5
8 NOVEMBER 2012 ASX: TLG
ABOUT TALGA GOLD
Talga Gold (Talga) (ASX: “TLG”) is a diversified mineral explorer with a portfolio of graphite, iron, copper and gold
projects in Sweden and Western Australia.
Since listing in July 2010, Talga has been actively exploring its portfolio of gold projects in the Yilgarn and Pilbara
regions of Western Australia. In 2011, Talga identified and subsequently acquired a number of graphite, iron and IOCG
projects in Sweden.
GRAPHITE
Talga wholly owns a portfolio of advanced and high grade graphite projects in the Kiruna Mineral District of northern
Sweden, all within a 110km radius of the central Jalkunen project.
The immediate focus is to advance multiple graphite projects towards development, with fast-tracking available due to
the advantage of established quality infrastructure including power, road, rail and ports. Initially this will entail the
expansion in size and upgrading of the categorisation of the existing high grade graphite resources published for
Nunasvaara and Raitajärvi.
Additionally, it is also the Company’s objective to complete drilling on a number of other projects, including the
multiple JORC-code compliant exploration targets associated with the Jalkunen project.
IRON
Talga owns 100% of six exploration permits in the Kiruna mineral district recognised as containing significant iron ore
deposits with considerable growth upside based on historic drilling and JORC compliant resources and exploration
targets. Talga’s strategy is to advance the iron ore projects within the area and at an appropriate stage consider options
to commercialise these assets either in their own right or in conjunction with other parties.
GOLD
Talga is actively exploring high grade gold projects in the Yilgarn and Pilbara regions of Western Australia. Additionally
the Company owns several copper-gold projects within it’s Sweden portfolio.
Competent Person’s Statement
The information in this report that relates to Exploration Results is based on information compiled and reviewed by Mr Darren Griggs and Mr
Mark Thompson, who are members of the Australian Institute of Geoscientists. Mr Griggs and Mr Thompson are employees of the Company
and have sufficient experience which is relevant to the activity to which is being undertaken to qualify as a "Competent Person" as de#ned in
the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (“JORC Code”). Mr
Griggs and Mr Thompson consent to the inclusion in the report of the matters based on this information in the form and context in which it
appears.
The information in this report that relates to Resource Estimation is based on information compiled and reviewed by Mr Simon Coxhell. Mr
Coxhell is a consultant to the Company and a member of the Australian Institute of Mining and Metallurgy. Mr Coxhell has sufficient
experience relevant to the styles of mineralisation and types of deposits which are covered in this document and to the activity which he is
undertaking to qualify as a Competent Person as de#ned in the 2004 edition of the “Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves” (“JORC Code”). Mr Coxhell consents to the inclusion in this report of the matters based on this
information in the form and context in which it appears.

Cheers.
Simmo.