Talon Drilling Update: Talon Intercepts Massive and Disseminated Sulphides at Shallow Depths More than 300 Meters (985 Feet) Away from Its Current Resource Area
Talon Drilling Update: Talon Intercepts
Massive and Disseminated Sulphides at
Shallow Depths More than 300 Meters (985
Feet) Away from Its Current Resource Area
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - September 16, 2020) - Talon Metals Corp.
(TSX: TLO) ("
Talon
" or the "
Company
") is pleased to provide an update on the Tamarack Nickel-
Copper-Cobalt Project ("
Tamarack Project
"), located in Minnesota, USA.
The Tamarack Project
comprises the Tamarack North Project and the Tamarack South Project.
Talon is presently drilling the first of 6 high priority exploration targets with the objective of
significantly expanding the Company's present resource (for further detail regarding the targets,
please see
https://talonmetals.com/near-resource-upside/
).
The first area being drilled is referred
to as the "CGO East" area (see Figure 1 below).
Rationale for drilling the CGO East area:
Geophysics, including borehole electromagnetic
("
BHEM
") and surface electromagnetic ("
EM
"), and historical drilling suggest that shallow, wide
sheets of massive, high-grade mineralization may stretch over an area of 500 meters (east-west)
by 900 meters (north-south).
This massive sheet-like sulphide mineralization, which is overlain by a
thick sequence of disseminated sulphide mineralization, is expected to be much wider than the
long, tube-like Massive Sulphide Unit (
"MSU"
) found within the Company's current resource area.
Drilling is presently focussed on a trend of approximately 675 meters that parallels the Coarse-
Grained Orthocumulate ("
CGO
") mineralization, which extends to the north-east beyond the
Company's current resource area.
This trend has been defined by new BHEM, surface EM and the
following historical drill holes (please refer to Figure 1 below for an approximate location of these
historical drill holes):
In the North of the CGO East Area:
Drill hole 16TK238:
Intersected massive and mixed massive sulphides of 2.2 meters at 1.75%
Ni, 0.89% Cu, 0.06% Co, 0.31 g/t PGE's + 0.12g/t Au, starting at 117.72 meters (2.26% NiEq
[1]
or 6.02% CuEq
[2]
).
These massive and mixed massive sulphides are below a sequence of
disseminated sulphides.
Drill hole 13TK187:
Intersected massive and mixed massive sulphides of 2.83 meters at
3.82% Ni, 1.62% Cu, 0.12% Co, 0.63g/t PGE's + 0.36 g/t Au, starting at 138.94 meters (4.80%
NiEq or 12.81% CuEq). These massive and mixed massive sulphides are also below a
sequence of disseminated sulphides.
In the South of the CGO East Area:
Drill hole 07L036:
Intersected massive and mixed massive sulphides of 0.5 meters at 2.28%
Ni, 1.54%Cu, 0.09% Co, 0.71g/t PGE's + 0.43 g/t Au, starting at 264.75 meters (3.21% NiEq or
8.57% CuEq). These massive and mixed massive sulphides are below a sequence of
disseminated sulphides.
The Company is pleased to announce that so far, it has completed two drill holes and consistent
with the Company's geophysical analysis and historical drilling to date,
both drill holes successfully
intersected massive and mixed massive sulphides with a sequence of disseminated sulphides
above
:
Drill hole 20TK0266:
Intersected sulphide mineralization from 203 meters to 247.75 meters
(total of 44.75 meters of mineralization), including 2.15 meters of mixed and massive sulphides
starting at 245.6 meters;
Drill hole 20TK0267:
Intersected sulphide mineralization
from 224.33 meters to 249.02 meters
(total of 24.69 meters of mineralization),
including 1.94 meters of mixed and massive sulphides
starting at 247.08 meters.
These two drill holes are located approximately 300 meters and 360 meters, respectively, from the
closest massive sulphides previously intersected in the Company's resource area, and 160 meters
and 220 meters north-west of drill hole 07L036 (referenced above).
Please refer to Figure 1 for an
approximate location of these two new drill holes.
Drill core has been logged and will be sent for assays, which are expected to take 4-6 weeks to
complete.
A third drill hole (drill hole 20TK0268) has now commenced and is targeting south-west of drill hole
20TK0266 towards the Company's resource area, which is a 150 meter step-out from recent drill
hole 20TK0266.
The objective of this drill hole is to determine if the shallow, sheet-like massive
sulphides (within the CGO East area) extend to the south-east of drill hole 20TK0266.
Figure 1: Plan view map of the CGO East mineralization. The solid blue line shows the potential
extent of the sulphide mineralization in the area. The dashed red line represents the
approximate trend of the basal massive sulphides in the area.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2443/63946_0bb93badd489d9ab_002full.jpg
"Following on from successfully drilling the tube-like, high-grade massive and mixed massive
sulphides in the Company's resource area, we are now moving outside of the resource area and have
started with exploring an exciting trend of wider, sheet-like, massive and mixed massive sulphide
mineralization.
Not only is this expected to increase the amount of high-grade tonnage at the
Tamarack Project, it could do so at the front end of the mine life, resulting in early cash-flows.
It is
therefore expected to reduce the timeline to production,"
said Henri van Rooyen, CEO of Talon.
"The fact that we expect to bring in early cash flows while reducing the timeline to production is good
news for the electric vehicle industry in the USA and Europe. We are looking to supply Green-
Nickel
TM
when it will be needed the most,"
said Sean Werger, President of Talon.
"The Company's
current drill program is expected to run for the remainder of this year and into next year. The
Company has enough cash on hand to complete this drill program."
Geological Discussion
The CGO East area's geology consists of the Fine-Grained Orthocumulate ("
FGO
") intruding the country
rock, meta-sedimentary sequence. The CGO itself hosts coarse-grained disseminated sulphide
mineralization that extends north-east beyond the Company's current resource area.
The CGO East area
is adjacent to the CGO.
The CGO East mineralization is hosted in the FGO with a sequence of disseminated sulphides followed
by basal massive sulphides that pool to form massive sulphides. The lateral extent of the basal massive
sulphides transition into mixed massive sulphides around these pools.
To date, the disseminated sulphide thickness varies from 2 meters to 38 meters at grades varying from
0.5% to 0.8% NiEq. The basal massive sulphide and mixed massive sulphide thickness to date vary
from 0.5 meters to 2.2 meters with grades up to 5% NiEq.
Talon has identified a possible trend of basal mixed and massive sulphide mineralization, where
sulphides pool into a channel that may have thicker intervals of basal massive sulphides (please see
Figure 1 above).
The Company therefore expects to substantially increase tonnage and reduce the timeline to production
(thereby further improving the economics of the Tamarack Project) by blending this shallow, high-grade
massive sulphide mineralization with the adjacent, bulk tonnage disseminated mineralization hosted in
the CGO.
Quality Assurance, Quality Control and Qualified Persons
Please see the technical report entitled "NI 43-101 Technical Report Updated Preliminary Economic
Assessment (PEA) of the Tamarack North Project - Tamarack, Minnesota" with an effective date of
March 12, 2020 prepared by independent "Qualified Persons" (as that term is defined in National
Instrument 43-101 (
"NI 43-101"
) Leslie Correia (Pr. Eng),
Andre-Francois Gravel (P. Eng.), Tim Fletcher
(P. Eng.), Daniel Gagnon (P. Eng.), David Ritchie (P. Eng.), Oliver Peters (P. Eng.), Christine Pint (P.G.)
and Brian Thomas (P. Geo.) for information on the QA/QC, analytical and testing procedures at the
Tamarack Project. Copies are available on the Company's website (
www.talonmetals.com
) or on
SEDAR at (
www.sedar.com
). The laboratory used is ALS Minerals who is independent of the Company.
Lengths are drill intersections and not necessarily true widths. True widths cannot be consistently
calculated for comparison purposes between holes because of the irregular shapes of the mineralized
zones. Drill intersections have been independently selected by Talon. Drill composites have been
independently calculated by Talon. The geological interpretations in this news release are solely those of
the Company.
The locations and distances highlighted on all maps in this news release are approximate.
Dr. Etienne Dinel, Vice President, Geology of Talon, is a Qualified Person within the meaning of NI 43-
101. Dr. Dinel is satisfied that the analytical and testing procedures used are standard industry operating
procedures and methodologies, and he has reviewed, approved and verified the technical information
disclosed in this news release, including sampling, analytical and test data underlying the technical
information.
About Talon
Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack
Nickel-Copper-Cobalt Project located in Minnesota, USA, comprised of the Tamarack North Project and
the Tamarack South Project. Talon has an earn-in to acquire up to 60% of the Tamarack Project. The
Tamarack Project comprises a large land position (18km of strike length) with numerous high-grade
intercepts outside the current resource area. Talon is focused on expanding its current high-grade nickel
mineralization resource prepared in accordance with NI 43-101; identifying additional high-grade nickel
mineralization; and developing a process to potentially produce nickel sulphates responsibly for
batteries for the electric vehicles industry. Talon has a well-qualified exploration and mine management
team with extensive experience in project management.
For additional information on Talon, please visit the Company's website at
www.talonmetals.com
or
contact:
Sean Werger
President
Talon Metals Corp.
Tel: (416) 361-9636 x102
Email:
Forward-Looking Statements
This news release contains certain "forward-looking statements". All statements, other than statements
of historical fact that address activities, events or developments that the Company believes, expects or
anticipates will or may occur in the future are forward-looking statements. These forward-looking
statements reflect the current expectations or beliefs of the Company based on information currently
available to the Company. Such forward-looking statements include statements relating to the timing and
results of the exploration program, including assay results,
the potential for new massive sheet-like
sulphide mineralization which is expected to be much wider than the long, tube-like MSU found within the
Company's current resource area, an increase the amount of high-grade tonnage at the Tamarack
Project, the mining methods, the timing thereof and the impact on early cash-flows, and a reduction in the
timeline to production. Forward-looking statements are subject to significant risks and uncertainties and
other factors that could cause the actual results to differ materially from those discussed in the forward-
looking statements, and even if such actual results are realized or substantially realized, there can be no
assurance that they will have the expected consequences to, or effects on the Company.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be
required by applicable securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty therein.
Table 1: New Drill Hole Quick Lithology Logs
Hole ID
From (m)
To (m)
Length (m)
Lithology
% Sulphides
20TK0266
0
33.59
33.59
Overburden
33
203.3
170.3
FGO/MZNO
Traces to patchy
sulphides
203.3
245.06
41.76
FGO/MZNO
5 to 15% sulphides,
blebby sulphide to net-
textured
245.06
247.75
2.69
MMS
35% sulphides, mixed
massive sulphides-
blebby
247.5
283
35.5
SED
Seta-sedimentary rock
0
30.78
30.78
Overburden
30.78
224.33
193.55
FGO/MZNO
Traces sulphides
20TK0267
224.33
247.08
22.75
FGO/MZNO
10% to 15% sulphides
247.08
247.95
0.87
MMS
35% sulphides, mixed
massive sulphides,
blebby sulphides
247.95
249.02
1.07
MSU
>80% sulphidesm
massive sulphides
249.02
295.5
46.48
SED
Meta-sedimentary rock
Table 1: Quick lithology log of drill holes 20TK0266 and 20TK0267 (Fine-grained orthocumulate/Mixed
Zone (FGO/MZNO); Mixed massive sulphides (MMS); Massive sulphides (MSU); Meta-sedimentary
rocks (SEDS)
Table 2: Collar Locations of Historical Drill Holes in CGO East Area
CGO EAST
HOLEID
Easting (m)
Northing (m)
Elevation (masl)
Azm
Dip
End Depth (m)
20TK0266
491022.0
5168949.1
388
110.0
-82.5
283.5
20TK0267
491021.2
5168949.1
388
78.7
-70.1
295.5
02L001
491082.5
5169031.0
388.3
110.0
-75.7
275.5
03L007
491180.1
5168997.0
388.4
223.2
-88.6
228.3
03L010
491177.5
5168998.4
388.4
107.1
-61.8
237.4
03L011
491289.2
5169183.2
389.0
110.0
-60.0
194.5
03L013
491107.1
5168909.9
388.4
0.0
-90.0
252.4
03L014
491330.1
5169065.0
388.6
0.0
-90.0
196.9
07L032
490912.8
5168940.3
388.4
0.0
-90.0
342.6
07L035
491342.9
5168813.3
388.4
0.0
-90.0
165.2
07L036
490968.7
5168801.0
388.5
0.0
-90.0
293.8
09TK0097
491255.1
5168876.1
388.9
350.3
-85.9
251.5
13TK0168
491392.9
5168895.1
388.6
191.8
-89.8
160.9
13TK0186
491301.1
5169450.2
388.4
0.0
-90.0
119.5
13TK0187
491280.1
5169254.1
388.6
51.2
-89.7
177.0
13TK0190
491392.3
5169253.5
388.9
73.5
-89.6
177.0
13TK0193
491299.3
5169148.8
389.5
55.1
-89.6
205.5
13TK0197
491022.4
5168949.2
388.5
303.7
-87.0
428.0
13TK0198
491081.5
5168784.1
388.5
260.4
-84.6
401.7
13TK0200
491221.3
5168778.9
388.5
261.8
-84.5
249.3
16TK0238
491291.7
5169361.9
388.7
161.2
-84.2
1224.0
Collar coordinates are UTM Zone 15N, NAD83.
Azimuths and dips are taken from survey record at collar unless otherwise noted
* No record of collar azimuth and dip. First record of downhole survey used.
Collar coordinates are UTM Zone 15N, NAD83.
Azimuth and Dip are downhole survey averages for the hole.
For daughter holes; collar coordinates and elevations are same as mother hole; approximate wedge
depth given; azimuth and dip are the survey averages below the wedge.
Table 3: Assay Results from Historical Drill Holes in CGO East Area
CGO EAST
HOLEID
From
To
Length (m)
Cu %
Ni %
Co %
Pd g/t
Pt G/t
Au G/t
NiEq %
CuEq %
02L001
143
162.5
19.50
0.23
0.42
0.02
0.01
0.01
0.02
0.54
1.45
03L007
185.8
214.7
28.90
0.47
0.69
0.02
0.12
0.21
0.15
0.99
2.63
including
213.5
214.7
1.20
1.55
3.19
0.12
0.30
0.21
0.29
4.09
10.92
03L010
199.5
213.8
14.30
0.45
0.58
0.02
0.04
0.10
0.11
0.82
2.20
including
213.2
213.8
0.60
0.85
2.33
0.09
0.05
0.01
0.08
2.81
7.49
03L011
129
145.5
16.50
0.34
0.54
0.02
0.08
0.12
0.07
0.74
1.98
03L013
221
223.9
2.90
0.53
1.05
0.02
0.14
0.27
0.21
1.41
3.77
including
223.6
223.9
0.30
0.63
3.64
0.12
0.25
0.31
0.30
4.23
11.27
03L014
167
168
1.00
2.91
1.37
0.04
0.09
0.21
0.52
2.70
7.19
07L032
290
300.8
10.80
0.30
0.60
0.02
0.15
0.20
0.10
0.83
2.23
07L035
110
117.5
7.50
0.46
0.69
0.02
0.03
0.03
0.04
0.92
2.45
including
116.9
117.5
0.60
1.11
2.12
0.07
0.04
0.02
0.03
2.66
7.08
07L036
264.75
265.25
0.50
1.54
2.28
0.09
0.30
0.41
0.43
3.21
8.57
09TK0097
170.5
175.2
4.70
0.59
0.85
0.02
0.08
0.24
0.19
1.22
3.25
including
174.66
175.2
0.54
0.61
1.49
0.07
0.04
0.04
0.07
1.84
4.92
13TK0168
112.5
117.82
5.32
0.64
0.85
0.03
0.05
0.05
0.06
1.16
3.09
including
117.52
117.82
0.30
0.89
1.61
0.08
0.03
0.01
0.05
2.07
5.52
13TK0186
59.44
86
26.56
0.26
0.41
0.02
0.08
0.14
0.06
0.59
1.58
13TK0187
115.5
141.77
26.27
0.41
0.79
0.03
0.10
0.16
0.12
1.07
2.85
including
138.94
141.77
2.83
1.62
3.82
0.12
0.28
0.35
0.36
4.80
12.81
13TK0190
60.5
99.5
39.00
0.26
0.46
0.02
0.05
0.09
0.04
0.62
1.67
13TK0193
139.5
164.38
24.88
0.37
0.62
0.02
0.09
0.15
0.10
0.85
2.28
13TK0197
245
254
9.00
0.29
0.45
0.02
0.07
0.14
0.10
0.65
1.74
13TK0198
205.1
210
4.90
0.37
0.55
0.02
0.02
0.04
0.05
0.74
1.97
13TK0200
140.02
156.5
16.48
0.44
0.75
0.03
0.04
0.03
0.03
0.98
2.61
16TK0238
80
119.92
39.92
0.38
0.59
0.02
0.06
0.11
0.07
0.81
2.17
including
117.72
119.92
2.20
0.89
1.75
0.06
0.15
0.16
0.12
2.26
6.02
Length refers to drill hole length and not True Width.
True Width is unknown at the time of publication.
All samples were analysed by ALS Minerals.
Nickel, copper, and cobalt grades were first analysed by a
4-acid digestion and ICP AES (ME-MS61). Grades reporting greater than 0.25% Ni and/or 0.1% Cu,
using ME-MS61, trigger a sodium peroxide fusion with ICP-AES finish (ICP81).
Platinum, palladium and
gold are initially analyzed by a 50g fire assay with an ICP-MS finish (PGM-MS24).
Any samples
reporting >1g/t Pt or Pd trigger an over-limit analysis by ICP-AES finish (PGM-ICP27) and any samples
reporting >1g/t Au trigger an over-limit analysis by AAS (Au-AA26).
NiEq% = Ni%+ Cu% x $3.00/$8.00 + Co% x $12.00/$8.00 + Pt [g/t]/31.103 x $1,300/$8.00/22.04 + Pd
[g/t]/31.103 x $700/$8.00/22.04 + Au [g/t]/31.103 x $1,200/$8.00/22.04
CuEq% = Cu%+ Ni% x $8.00/$3.00 + Co% x $12.00/$3.00 + Pt [g/t]/31.103 x $1,300/$3.00/22.04 + Pd
[g/t]/31.103 x $700/$3.00/22.04 + Au [g/t]/31.103 x $1,200/$3.00/22.04
[1]
NiEq% = Ni%+ Cu% x $3.00/$8.00 + Co% x $12.00/$8.00 + Pt [g/t]/31.103 x $1,300/$8.00/22.04 +
Pd [g/t]/31.103 x $700/$8.00/22.04 + Au [g/t]/31.103 x $1,200/$8.00/22.04
[2]
CuEq% = Cu%+ Ni% x $8.00/$3.00 + Co% x $12.00/$3.00 + Pt [g/t]/31.103 x $1,300/$3.00/22.04 +
Pd [g/t]/31.103 x $700/$3.00/22.04 + Au [g/t]/31.103 x $1,200/$3.00/22.04
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