Talon Metals Announces Drilling to Date Intersects Nickel-Copper Mineralization in More than 60 Holes, All Located Outside of the Resource Area at the Tamarack Nickel Project
Talon Metals Announces Drilling to Date
Intersects Nickel-Copper Mineralization in
More than 60 Holes, All Located Outside of the
Resource Area at the Tamarack Nickel Project
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - June 1, 2021) - Talon Metals Corp. (TSX:
TLO) ("
Talon
" or the "
Company
") is pleased to provide an update on the Tamarack Nickel-Copper-
Cobalt Project ("
Tamarack Nickel Project
"), located in Minnesota, USA.
The Tamarack Nickel Project
comprises the Tamarack North Project and the Tamarack South Project.
Figure 1: Drill hole 21TK0311 showing 4.3 meters (14.1 feet) of mixed massive mineralization
starting at only 234 meters depth
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2443/85951_2042f63544903b77_001full.jpg
HIGHLIGHTS
Drilling is progressing extremely well at the Tamarack Nickel Project, as Talon has consistently
(now in 15 more drill holes) intersected nickel-copper mineralization at shallow depths in two areas
that both lie outside of the Tamarack Nickel Project's resource area.
The areas are referred to as
the CGO East area and the CGO Bend area (previously referred to as the SMSU Extension area).
The new drill holes demonstrate that the CGO East area has continuous nickel-copper
mineralization over a strike length of more than 500 meters, with mineralization of 50 to 85 meters
in width.
Some of the notable results in the CGO East area so far are as follows:
Drill hole 21TK0302 intersected
23.11 meters (75.8 feet) of nickel-copper mineralization
starting at only 196.6 meters, including
1.13 meters (3.7 feet) of mixed and massive
sulphide mineralization
starting at only 218.58 meters;
Drill hole 21TK0304 intersected
57.95 meters (190.1 feet) of nickel-copper
mineralization
starting at only 188.98 meters, including
1.67 meters (5.5 feet) of mixed
massive sulphide mineralization
starting at only 245.26 meters;
Drill hole 21TK0305 intersected
31.45 meters (103.2 feet) of nickel-copper
mineralization
starting at only 186.05 meters, including
0.78 meters (2.6 feet) of mixed
massive sulphide mineralization
starting at only 216.72 meters;
Drill hole 21TK0306 intersected
27.22 meters (89.3 feet) of nickel-copper mineralization
starting at only 229.45 meters, including
1.39 meters (4.6 feet) of mixed massive
sulphide mineralization
starting at only 255.28 meters;
Drill hole 21TK0309 intersected
50.1 meters (59.0 feet) of nickel-copper mineralization
starting at only 232.85 meters, including
2.66 meters (8.7 feet) of mixed massive
sulphide mineralization
starting at only 248.17 meters;
Drill hole 21TK0311 intersected
17.98 meters (164.4 feet) of nickel-copper
mineralization
starting at only 188.7 meters, including
4.3 meters (14.1 feet) of mixed
massive sulphide mineralization
starting at only 234.5 meters;
Assays remain pending for all of the above-noted drill holes.
To date,
nickel-copper mineralization has been intersected in more than 60 holes within
the CGO East, CGO West and CGO Bend areas
. The Company plans to deliver a new resource
estimate later this year or early next year.
"We are excited to now be consistently hitting nickel-copper mineralization at shallow depths in areas
that lie outside of our resource area,"
said Brian Goldner, Vice President of Exploration for Talon.
"As
has been demonstrated by our recent press releases, this year is all about growing the size of the
resource at the Tamarack Nickel Project, so we are in a much better position to assess and update the
proposed mine plan by the end of this year.
Drilling is ongoing at the Tamarack Project, with
additional results coming out shortly."
SUMMARY
CGO East
The CGO East target area is large, stretching over an area of 500 meters (east-west) by 900 meters
(north-south) outside of the Tamarack Nickel Project's resource area (see Talon's press releases dated
November 2, 2020, December 15, 2020 and March 31, 2021 for further details).
Continued drilling
coupled with Borehole Electro-Magnetic (
"BHEM"
) surveys (geophysics) confirm this area hosts
shallow, wide sheets of mineralization consistent with the previously reported drill results.
The new holes announced in this press release extend mineralization to the east and west and show
additional continuity of the mineralized sheet between drill holes in the southern portion of the CGO East
area: (all assays remain pending)
Drill hole 21TK0302 intersected 23.11 meters (75.8 feet) of nickel-copper mineralization starting at
only 196.6 meters, including 1.13 meters (3.7 feet) of mixed and massive sulphide mineralization
starting at only 218.58 meters;
Drill hole 21TK0304 intersected 57.95 meters (190.1 feet) of nickel-copper mineralization starting
at only 188.98 meters, including 1.67 meters (5.5 feet) of mixed massive sulphide mineralization
starting at only 245.26 meters;
Drill hole 21TK0305 intersected 31.45 meters (103.2 feet) of nickel-copper mineralization starting
at only 186.05 meters, including 0.78 meters (2.6 feet) of mixed massive sulphide mineralization
starting at only 216.72 meters;
Drill hole 21TK0306 intersected 27.22 meters (89.3 feet) of nickel-copper mineralization starting at
only 229.45 meters, including 1.39 meters (4.6 feet) of mixed massive sulphide mineralization
starting at only 255.28 meters;
Drill hole 21TK0307 intersected 1.82 meters (6.0 feet) of nickel-copper mineralization starting at
only 206.7 meters, including 0.40 meters (1.3 feet) of mixed massive sulphide mineralization
starting at only 208.12 meters;
Drill hole 21TK0308 intersected 27.83 meters (6.0 feet) of nickel-copper mineralization starting at
only 206.7 meters, and 0.78 meters (2.6 feet) of mixed massive sulphide mineralization starting at
only 223.18 meters;
Drill hole 21TK0309 intersected 50.1 meters (59.0 feet) of nickel-copper mineralization starting at
only 232.85 meters, including 2.66 meters (8.7 feet) of mixed massive sulphide mineralization
starting at only 248.17 meters;
Drill hole 21TK0311 intersected 17.98 meters (164.4 feet) of nickel-copper mineralization starting
at only 188.7 meters, including 4.3 meters (14.1 feet) of mixed massive sulphide mineralization
starting at only 234.5 meters; and
Drill hole 21TK0318 intersected an upper zone of 6.1 meters (20.0 feet) of nickel-copper
mineralization starting at only 230.73 meters, and a lower zone of 7.88 meters (25.9 feet) of nickel-
copper mineralization starting at only 243.84 meters, including 1.39 meters (4.6 feet) of mixed
massive sulphide mineralization starting at only 250.33 meters.
These results provide further confirmation of the continuous trend of nickel-copper mineralization
modelled by Talon using surface and BHEM data (geophysics).
This consistent mineralized zone
typically begins with large, shallow and thick disseminated sulphide mineralization above a sheet of
higher-grade massive sulphide mineralization. Previously reported assay results (see the Company's
press release dated May 4, 2021) have intervals with nickel grades up to 5.2% Ni combined with copper
grades up to 1.7% Cu in the massive and mixed massive sulphide sheet.
Talon plans to continue drilling the CGO East area with the goal of delineating a resource that could be
added to the current mine plan.
CGO Bend
The CGO Bend is a zone that lies between the CGO East and CGO West areas that is composed of low
grade mineralized coarse-grained olivine (
"CGO"
).
Historically 6 holes were drilled into this area along
the strike-length of the CGO Bend, so Talon set out to drill holes towards the edges to determine where
the contact is between the CGO East/West and the CGO Bend and to identify if it is mineralized.
The
drilling conducted showed that not only did the CGO Bend extend further east than expected, but it also
contained thicker zones of mineralization than expected with holes intersecting up to 42 meters of
disseminated mineralization as shown below.
In summary:
Drill hole 21TK0280 intersected 8.22 meters (27.0 feet) of nickel-copper mineralization starting at
only 98.23 meters and 17.43 meters (57.2 feet) of nickel-copper mineralization starting at only
125.12 meters.
Drill hole 21TK0281 intersected 42.06 meters (138.0 feet) of nickel-copper mineralization starting
at only 127.71 meters and 1.36 meters (4.5 feet) of mixed and massive nickel-copper
mineralization starting at only 195.54 meters.
Drill hole 21TK0284 intersected 27.69 meters (90.8 feet) of nickel-copper mineralization starting at
only 100.36 meters.
Drill hole 21TK0297 intersected 5.1 meters (16.7 feet) of nickel-copper mineralization starting at
only 247.45 meters.
Drill hole 21TK0300 intersected 18.29 meters (60.0 feet) of nickel-copper mineralization starting at
only 127.71 meters and 0.41 meters (1.3 feet) of mixed and massive nickel-copper mineralization
starting at only 196.28 meters.
Drill hole 21TK0310 intersected 42.52 meters (139.5 feet) of nickel-copper mineralization starting
at only 170.08 meters.
The mineralization in the CGO Bend area appears to be shallow and bulky, over a strike length of 300
meters.
Figure 2: Plan view geological map of the northern portion of the Tamarack Project showing
the new Ni-Cu mineralization intervals in green text boxes in the CGO East and CGO Bend
areas.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2443/85951_2042f63544903b77_002full.jpg
QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS
Please see the technical report entitled "NI 43-101 Technical Report Updated Preliminary Economic
Assessment (PEA) #3 of the Tamarack North Project - Tamarack, Minnesota" with an effective date of
January 8, 2021 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.), Volodymyr
Liskovych (P.Eng.), Andrea Martin (P. E.) 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 mineralization, potential, assay results and grades,
geophysical results and drilling plans; the Company's plans to deliver a new resource later this year and
update to the mine plan.
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 of New Drill Holes Referred to in this Press Release
CGO EAST
HOLE ID
Easting (m)
Northing (m)
Elevation (masl)
Azm
Dip
End Depth (m)
21TK0302
491165.7
5168989.1
388.0
50.0
-61.5
240.8
21TK0303
491165.0
5168989.0
388.0
70.0
-60.0
57.6
21TK0304
491068.6
5169033.4
388.0
84.4
-52.8
268.2
21TK0305
491168.3
5168989.8
388.0
68.1
-61.0
264.3
21TK0306
491070.0
5169034.0
388.0
184.9
-73.8
283.5
21TK0307
491171.0
5168990.0
388.0
88.1
-67.3
240.2
21TK0308
491169.0
5168990.9
388.0
42.8
-56.5
246.6
21TK0309
491067.4
5169035.6
388.0
158
-67.5
277.4
21TK0311
491067.6
5169034.1
388.0
121
-67.8
264.4
21TK0318
491009.0
5168962.0
388.0
139
-74.0
333.0
21TK0283
491303.8
5169144.8
388.0
259.2
-78.0
203.3
21TK0288
491298.5
5169148.4
388.0
311.9
-75.2
198.3
21TK0289
491178.0
5168988.0
388.0
23.6
-79.5
233.9
21TK0290
491300.3
5169144.9
388.0
214.1
-71.8
209.7
21TK0291
491178.2
5168985.8
388.0
237.5
-80.1
247.5
21TK0294
491178.0
5168985.0
388.0
222.3
-72.9
301.1
21TK0295
491294.0
5169149.9
388.0
345.3
-67.3
188.5
21TK0296
491176.0
5168998.0
388.0
49.5
-73.9
236.7
20TK0266
491022.0
5168949.1
388.0
110.0
-82.5
283.5
20TK0267
491021.2
5168949.1
388.0
78.7
-70.1
295.5
20TK0268
491021.9
5168951.8
388.0
218.1
-66.2
388.8
20TK0271
491019.0
5168955.0
388.0
111.0
-78.5
299.6
CGO BEND
21TK0280
491190.4
5169241.7
388
163
-77.04
163.4
21TK0281
491194.4
5169140.4
388
140
-73.23
221.3
21TK0284
491190.2
5169241.1
388
129
-60.74
205.7
21TK0297
491193.8
5169144.9
388
220.3
-67.8
277.1
21TK0300
491192.8
5169144.7
388
34.3
-77.64
224.9
21TK0310
491168.7
5168990.3
388
5.56
-70.38
249.3
Collar coordinates are UTM Zone 15N, NAD83.
Azimuths and dips are taken from survey record at collar unless otherwise noted.
Table 2: Quick Lithology Log for New Drill Holes in the CGO East Area
CGO EAST
Hole ID
From (m)
To (m)
Length (m)
Lithology
% Sulphides
21TK0302
0
47.85
47.85
Overburden
47.85
196.6
148.75
FGO/MZNO
Traces
196.6
218.58
21.98
FGO/MZNO
5 to 8%
218.58
219.71
1.13
MMS/MSU
10-85%
219.71
240.79
21.08
SED
Traces
21TK0303
Hole abandoned at 57.6 meters in FGO/MZNO
21TK0304
0
44.81
44.81
Overburden
44.81
188.98
144.17
FGO/MZNO
Traces
188.98
245.26
56.28
FGO/MZNO
3-7%
245.26
246.93
1.67
MMS
75%
246.93
268.22
21.29
SED
21TK0305
0
48.16
48.16
Overburden
48.16
186.05
137.89
FGO/MZNO
Traces
186.05
216.72
30.67
FGO/MZNO
2-5%
216.72
217.5
0.78
MSU
30%
217.5
264.26
46.76
SED
21TK0306
0
45.62
45.62
Overburden
45.62
229.45
183.83
FGO/MZNO
Traces - 2%
229.45
254.93
25.48
FGO/MZNO
2-3%
254.93
255.28
0.35
SED
3%
255.28
256.67
1.39
MMS/MSU
60%
256.67
264.57
7.9
SED
21TK0307
0
46.3
46.3
Overburden
46.3
206.7
160.4
FGO/MZNO
Traces
206.7
207.74
1.04
FGO/MZNO
5%
207.74
208.12
0.38
SED
7%
208.12
208.52
0.4
MMS/MSU
35%
208.52
240.18
31.66
SED
Traces
21TK0308
0
48.21
48.21
Overburden
48.21
191.02
142.81
FGO/MZNO
191.02
218.85
27.83
FGO/MZNO
5%
218.85
223.18
4.33
FGO/MZNO
2%
223.18
223.96
0.78
MMS/MSU
65%
223.96
246.58
22.62
SED
21TK0309
0
41.98
41.98
Overburden
41.98
232.85
190.87
FGO/MZNO
traces-2%
232.85
248.17
15.32
FGO/MZNO
7%
248.17
250.83
2.66
MMS/MSU
70-85%
250.83
277.37
26.54
SED
21TK0311
0
45.6
45.6
Overburden
45.6
188.7
143.1
FGO/MZNO
Traces-3%
188.7
234.5
45.8
FGO/MZNO
5-7%
234.5
238.8
4.3
MMS/MSU
40-80%
238.8
264.41
25.61
SED
21TK0318
0
35.97
35.97
Overburden
35.97
230.73
194.76
FGO/MZNO
Traces-3%
230.73
236.83
6.1
FGO/MZNO
5%
236.86
243.84
6.98
FGO/MZNO
Traces
21TK0318
243.84
250.33
6.49
FGO/MZNO
7%
250.33
251.72
1.39
MMS/MSU
40%
223.96
246.58
22.62
SED
CGO EAST
Hole ID
From (m)
To (m)
Length (m)
Lithology
% Sulphides
Quick lithology log of drill holes: Fine-grained orthocumulate/Mixed Zone (FGO/MZNO); Mixed massive sulphides (MMS); Massive sulphides (MSU);
Meta-sedimentary rocks (SED); Coarse-graned Orthocumulate (CGO)
Table 3: Quick Lithology Log for New Drill Holes in the CGO Bend Area
CGO BEND
Hole ID
From (m)
To (m)
Length (m)
Lithology
% Sulphides
21TK0297
0
48.34
48.34
Overburden
48.34
143.84
95.5
FGO/MZNO
Traces
143.84
151.49
7.65
CGO
Traces-3%
151.49
247.45
95.96
CGO
Traces -2%
247.45
252.55
5.1
CGO
5%
252.55
277.06
24.51
CGO
Traces
21TK0280
0
54.86
54.86
Overburden
54.86
98.23
43.37
FGO/MZNO
Traces
98.23
106.45
8.22
CGO
5%
106.45
125.12
18.67
CGO
Traces
125.12
142.55
17.43
CGO
2-7%
142.55
163.37
20.82
CGO
Traces
21TK0281
0
45.48
45.48
Overburden
45.48
127.71
82.23
FGO/MZNO
Traces
127.71
169.77
42.06
CGO
6%
169.77
195.54
25.77
CGO
1%
195.54
196.9
1.36
MMS
45%
196.9
221.28
24.38
SED
Traces
21TK0284
0
65.14
65.14
Overburden
65.14
100.36
35.22
FGO/MZNO
Traces
100.36
128.05
27.69
CGO
5%
128.05
180
51.95
CGO
Traces-2%
180
205.74
25.74
SED
21TK0300
0
48.82
48.82
Overburden
48.82
105.24
56.42
FGO/MZNO
Traces
105.24
136.86
31.62
CGO
Traces-3%
136.86
155.15
18.29
CGO
5-7%
155.15
190.1
34.95
CGO
1-3%
190.1
196.28
6.18
SED
196.28
196.69
0.41
MMS
35%
196.69
215.19
18.5
CGO
Traces
215.69
218.85
3.16
SED
218.85
224.94
6.09
CGO
21TK0310
0
48.29
48.29
Overburden
48.29
170.08
121.79
FGO/MZNO
Traces-2%
170.08
212.6
42.52
CGO
3-5%
212.6
232.37
19.77
CGO
Traces
232.37
232.87
0.5
SED
4%