Talon Metals Drilling Intersects Entirely New Area of Nickel Mineralization New hole is a 450-meter step-out from the nearest drill hole in the "Raptor Zone"
Talon Metals Drilling Intersects Entirely New
Area of Nickel Mineralization
New hole is a 450-meter step-out from the nearest drill hole in
the "Raptor Zone"
Tamarack, Minnesota--(Newsfile Corp. - July 13, 2023) - Talon Metals Corp. (TSX: TLO) (OTC Pink:
TLOFF) (
"Talon"
or the
"Company"
), the majority owner and operator of the Tamarack Nickel-Copper-
Cobalt Project ("
Tamarack Nickel Project
") in central Minnesota, is pleased to announce that its drill
teams hit a new area of semi-massive nickel sulphide in a part of the Tamarack Intrusive Complex that
has never been explored.
The new nickel mineralization was encountered at a shallow depth of
approximately 296.3 meters in an area between the Raptor's Head Area and the Raptor's Crest Area
within the newly named "Raptor Zone" (see Figure 2 below).
Figure 1: Nickel mineralization encountered between 296.03 and 298.7 meters depth in new
drill hole 23TK0482
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/173313_1c47840ef4f76864_001full.jpg
Both the Raptor's Head and the Raptor's Crest Areas contain high-grade massive nickel mineralization
with grades up to 9.33% Ni
1
and 9.95% Ni
2
, respectively, however, the 1.5 km distance between these
zones has never been drilled.
Figure 2: Analytical signal magnetic map showing the location of the Raptor Zone (red = highly
magnetic), showing the location of new drill hole 23TK0482
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/173313_1c47840ef4f76864_002full.jpg
This maiden drill hole intersected 4.21 meters of nickel mineralization (assays pending), but of particular
interest is that the mineralization is texturally very similar to what is observed in the Tamarack Resource
Area Semi-Massive Sulphide (
"SMSU
") unit located over 2 km south of this drill hole (i.e. within the
Tamarack Resource Area). Coarse grained SMSU has never been identified outside of the Tamarack
Resource Area. This drill hole represents a 450-meter step-out from the nearest drill hole and provides
ample room for exploration.
Brian Goldner, Chief Exploration and Operations Officer of Talon said:
"This intersection reminds me of
our first discovery in the Tamarack Resource Area in 2008. At that time, we were drilling coarse
grained nickel mineralization of similar size to the current drill hole, trying to figure out where it came
from. It took 42 holes to make that first discovery back then, but today we have the benefit of our in-
house drilling team and our in-house geophysics team with industry leading technology to guide
further exploration in the Raptor Zone."
Henri van Rooyen, CEO of Talon commented, "
This is just one more signal that there is more nickel in
America. While we have started the process of permitting an underground mine in the Tamarack
Resource Area, we are committed to continuing to search for more high-grade nickel deposits in
Minnesota and Michigan. Our strategy is to become a significant supplier of US nickel for US
batteries from both the Tamarack Intrusive Complex (TIC) in Minnesota and from potential future
nickel discoveries in Michigan.
In 2021 and 2022, Talon's in-house geology, geophysics and drill
teams discovered and delineated the CGO-East and CGO-West high-grade nickel areas, which led to
a deal with Tesla.
Presently, our teams are drilling approximately 1 km to the south of the Tamarack
Resource Area in the 164 Zone, approximately 1.8 km to the north-east of the Tamarack Resource
Area in the Raptor's Head Area and approximately 2.6 km to the north-east of the Tamarack
Resource Area between the Raptor's Head and Raptor's Crest Areas, where the mineralization was
intercepted."
QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS
Please see the technical report entitled "November 2022 National Instrument 43-101 Technical Report of
the Tamarack North Project - Tamarack, Minnesota" with an effective date of November 2, 2022
prepared by independent "Qualified Persons" (as that term is defined in National Instrument 43-101 ("
NI
43-101
")) Brian Thomas (P. Geo), Roger Jackson (P. Geo), Oliver Peters (P. Eng) and Christine Pint
(P.G) for information on the QA/QC, data verification, analytical and testing procedures at the Tamarack
Nickel 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 central Minnesota. Talon's shares are also traded in the US
over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land
position (18km of strike length) with high-grade intercepts
outside the current resource area
. Talon has
an earn-in right to acquire up to 60% of the Tamarack Nickel Project, and currently owns 51%. Talon is
focused on (i) expanding and infilling its current high-grade nickel mineralization resource prepared in
accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators, and (ii)
following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex.
Talon has
an agreement with Tesla Inc.
to supply it with 75,000 metric tonnes (165 million lbs) of nickel in
concentrate (and certain by-products, including cobalt and iron) from the Tamarack Nickel Project over
an estimated six-year period once commercial production is achieved. Talon has a
neutrality and
workforce development agreement
in place with the United Steelworkers union. Talon's Battery Mineral
Processing Facility in Mercer County was
selected by the US Department of Energy
for $114m funding
grant from the Bipartisan Infrastructure Law.
Talon has well-qualified experienced exploration, mine
development, external affairs and mine permitting teams.
For additional information on Talon, please visit the Company's website at
www.talonmetals.com
.
Media Contact:
Todd Malan
1-(202)-714-8187
Investor Contact:
Sean Werger
1-(416)-500-9891
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 future
exploration, drilling, assays and the results thereof, including discovering additional nickel mineralization
at the Tamarack Nickel Project and discovering nickel in Michigan.
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 Location of Drill Hole 23TK0482
HOLE ID
Easting (m)
Northing
(m)
Elevation
(masl)
Azimuth
Dip
End
Depth (m)
23TK0482
491686.0
5170936.0
388.0
307
-73
Hole still in progress
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 Drill Hole 23TK0482
HOLE ID
From (m)
To (m)
Length
Quick Log
% Sulphides
23TK0482
0
100.58
OB
100.58
277.93
SED
277.93
293.54
CGO
trace
293.54
296.03
2.49
CGO
4-7%
296.98
298.00
1.02
CGO
15%
298
298.7
0.7
CGO
5%
298.7
299.45
SED
299.45
300.26
CGO
3%
300.26
Hole still in progress
SED
Quick lithology log of drill holes: Overburden (OB); Meta-sedimentary rocks (SED); Coarse-grained Orthocumulate (CGO).
1
Drill hole 15TK0229. See the Company's press release dated September 1, 2015 for further technical details.
2
Drill hole 18TK0264. See the Company's press release dated June 21, 2018 for further technical details.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/173313