Talon Drilling Update: Talon Intersects 5.73 Meters (18.8 Feet) of Mixed Massive Sulphides Outside of Talon's Resource Area
Talon Drilling Update: Talon Intersects 5.73 Meters (18.8
Feet) of Mixed Massive Sulphides Outside of Talon's
Resource Area
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - April 2, 2020) - Talon Metals Corp. (
"Talon"
or the
"Company"
)
(TSX: TLO) is pleased to announce that 5.73 meters (18.8 feet) of Mixed Massive Sulphides (
"MMS"
) have been intersected
and logged outside of the Company's resource area at 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.
Highlights:
5.73 meters (18.8 feet) of MMS have been intersected in new drill hole 16TK0233C (starting at 500.45
meters) to the west
of the Company's resource area (see Figures 1 & 2).
FIGURE 1: DRILL CORE FROM DRILL HOLE 16TK0233C: PHOTO FROM ~498.8 METERS TO ~506.5 METERS
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FIGURE 2: PLAN VIEW OF THE SOUTHERN PORTION OF THE HIGH-GRADE MSU WITHIN THE TAMARACK ZONE
BELOW THE 138 ZONE. THE MAP SHOWS THE LOCATION OF DRILL HOLES 16TK0233C AND 16TK0233D WITH
REPSECT TO THE BHEM ANOMALY AND THE HIGH-GRADE MSU RESOURCE AREA
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"We are excited to report that we have intersected 5.73 meters (18.8 feet) of mixed massive sulphides outside of the
Company's resource area,"
said Henri van Rooyen, CEO of Talon.
"As previously discussed, one of the Company's goals is to
grow the resource at the Tamarack Project."
"Using directional drilling, we have now shown that we are able to cost-effectively target and drill more mixed massive
sulphides,"
said Brian Goldner, Head of Exploration of Talon (on secondment from Rio Tinto).
"Because of our effective use of
geological and geophysical models as well as drilling methods, we anticipate that our drill program will be completed well
under budget, leaving the Company with additional cash resources."
Drill Holes: Objectives, Design and Results
The objective of drill holes 16TK0233C and 16TK0233D was to test a potential widening of the high-grade massive sulphide
unit (
"MSU"
) evidenced by two Borehole Electromagnetic ("
BHEM
") plates that deviate from the trend of the massive sulphide
(see Figure 2).
Both drill targets lie outside of the Company's resource area. Hole 16TK0233C was targeting the center of a
BHEM anomaly identified from drill hole 09TK0095, whereas drill hole 16TK0233D was targeting the edge of the BHEM
anomaly identified in drill hole 16TK0233A.
Drill hole 16TK0233C was designed as a wedged hole from parent hole 16TK0233 and was directionally steered onto target,
which eliminated the need to drill the top 311 meters of the hole.
Drill hole 16TK0233D was drilled without the use of a wedge by
drilling straight through the directional curve from 16TK0233C, which eliminated the top 343 meters of the hole.
If drilled from
surface, these targets would have required 1141 meters of drilling, but by using directional drilling, both targets were tested with
only 485 meters of core drilled.
As a result, drill hole 16TK0233C intercepted 5.73 meters (18.8 feet) of MMS (starting at 500.45 meters) 5 meters (16 feet) to
the west, and outside the Company's resource area.
Drill hole 16TK0233D was also drilled outside of the Company's resource area.
The hole drilled the contact of the FGO/MZNO
with CGO outside the Sedimentary wedge. A BHEM survey conducted on 16TK0233D has identified a strong BHEM anomaly to
the north-east, towards 16TK0233A where the Company's resource area is located.
Drill hole 16TK0233A intercepted 9 meters
(29.5 feet) of MMS, grading 4.94% Ni, 2.08% Cu 1.00 g/t PGE's and 0.24 g/t Au (6.12% NiEq
[1]
) starting at 508 meters.
We look forward to providing results from further assays and geophysical data processing and interpretation when these
become available.
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 right 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 of the current resource area.
Talon is focussed 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 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
Email:
Telephone:
416-361-9636
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, geophysical data processing and interpretation and the ability to
extend the MSU at the Tamarack Project and the anticipation that the drill program will be completed well under budget.
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: Collar Locations for Drill Holes Mentioned in Press Release
HOLEID
Easting (m)
Northing (m)
Elevation
(masl)
Wedge depth
(m)
Azm
Dip
End Depth
09TK0095
490983
5168407
388.77
265.2
-73.6
663.86
12TK0158
490850
5168418
388.27
58.3
-89.2
594.66
16TK0233A
490914
5168369
388.40
392.0
283.6
-84.3
583.34
16TK0233B
490914
5168369
388.40
339.4
294.1
-83.2
551.08
16TK0233C
490914
5168369
388.40
309.7
300.4
-84.8
528.00
16TK0233D
490914
5168369
388.40
157.4
-89.8
578.51
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.
[1]
Where used un this press release 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
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