Talon Metals Drills Significant Nickel-Copper Mineralization Intercept at Tamarack During Feasibility Study Drilling Intercept is outside of the Tamarack Resource Area at shallow depths in the CGO East Zone
Talon Metals Drills Significant Nickel-Copper
Mineralization Intercept at Tamarack During
Feasibility Study Drilling
Intercept is outside of the Tamarack Resource Area at shallow
depths in the CGO East Zone
Tamarack, Minnesota--(Newsfile Corp. - April 15, 2025) - Talon Metals Corp. (TSX: TLO) (OTC Pink:
TLOFF) (together with its subsidiaries, "
Talon
" or the "
Company
"), the majority owner and operator of
the Tamarack Nickel-Copper-Cobalt Project ("
Tamarack Nickel Copper Project
") in central
Minnesota, is pleased to announce a mixed massive sulphide intercept in the CGO East Zone at the
Tamarack Nickel Copper Project measuring 16.09 meters.
Figure 1: Photo of drill core from drill hole 25TK0561 at 359.16 meters depth showing 16.09
meters of mixed massive sulphide.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/248464_talonfigure1.jpg
Highlights
Talon's in-house exploration team has been 'Infilling' and 'Outfilling' the Tamarack Resource Area
for purposes of completing a feasibility study at the Tamarack Nickel Copper Project.
Once again, this exploration work has resulted in new success with
drill hole 25TK0561
, that was
targeting a Borehole Electromagnetic ("
BHEM
") model below the Tamarack Resource Area,
encountering significant mineralization at a depth of 359.16 meters, drilling
16.09 meters
(See
Figure 1) logged as 10% to 80% sulphide content (the higher the percentage of sulphide, the
higher the grade of nickel at the Tamarack Nickel Copper Project).
Its position below the existing shallow part of the Tamarack Resource Area is important as it may
represent a waterfall draining the CGO East Zone mineralization, similar to the waterfall in the
CGO West Zone, where the mineralization orientation changes from near horizontal to near vertical
(See Figure 2 (plan view of cross section A-A') and Figure 3 (cross section showing the potential
CGO East Zone waterfall)).
As is the case with CGO West Zone waterfall, a CGO East Zone waterfall of mineralization has the
potential to add tonnage early in the Tamarack mine life, with minimal additional cost.
Brian Goldner, COO and Chief Exploration Officer of Talon, commented on the recent results, stating:
"
Not to sound like a broken record, but once again, borehole EM pointed to another great intercept,
this time in CGO East. The really exciting part of this intercept is that the Massive Sulphide Unit
appears to be plunging down below the CGO intrusion which begs the question, if it is draining where
does it pool. Both the CGO East Zone and CGO West Zone, and the results from last month's
intercept in the 138 Zone, show strong evidence that the Tamarack mineralization is draining to depth
into areas with limited drilling.
"
"The timing of this record CGO East Zone intercept at shallow depth could not be more aligned with
the Administration's Executive Order: "Immediate Measures to Increase American Mineral
Production" from March 20, 2025," said Henri van Rooyen, CEO of Talon. "Together with last month's
exceptional 8.25-meter intercept in drill hole 16TK0250, the Tamarack Nickel Copper Project is
clearly demonstrating the potential for additional high-grade nickel and copper mineralization beyond
the current known resource footprint."
Figure 2: Plan view of the Tamarack Resource Area, showing the location of the new mixed
massive sulphide intercept in drill hole 25TK0561.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/248464_91714438b4e9f9d2_003full.jpg
Figure 3: Cross section looking North-Northeast showing location of drill hole 25TK0561 in
relation to other drill holes with high-grade nickel-copper mineralization along with the
interpreted down dip extension of the CGO East mineralization.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/248464_91714438b4e9f9d2_004full.jpg
Geophysical Innovation
:
Drill hole 25TK0561 targeted a BHEM model that was developed using
Provus, a unique 3-D BHEM software package developed by Novaminex, in partnership with Talon (see
Figure 4).
A follow-up BHEM survey has been conducted, and Talon is reviewing the area to determine if
any other historical holes should be extended to look for additional mineralization at depth.
Brian Bengert, VP of Geophysics, stated:
"The Novaminex Provus EM modelling software is changing
our understanding of complex conductivity structures that are the focus of major nickel massive
sulphide deposits. While industry standard EM modelling should only be applied to a single borehole
at a time, Provus can model entire conductive systems from multiple holes simultaneously.
In this
case, we were able to model a complicated electromagnetic conductor that was winding its way
between our boreholes beneath the CGO East mineralization. This was not apparent in the individual
plate models of traditional modelling and the target yielded some great results."
Figure 4: View of the Provus BHEM model that combines surveys from multiple drill holes into
a single ribbon model, better fitting the BHEM response with a conductive system rather than
the industry standard of modelling plates to individual drill holes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/248464_91714438b4e9f9d2_005full.jpg
Lundin Earn-in Agreement Update
Talon and Lundin Mining Corporation ("
Lundin Mining
") have extended the exclusivity period until April
30, 2025, as the parties continue to work on the earn-in and related agreements pursuant to which
Lundin Mining may acquire up to a 70% ownership interest in the Boulderdash and Roland exploration
targets, which are in close proximity to Lundin Mining's Eagle Mine and encompass approximately
33,000 acres of minerals rights out of Talon's over 400,000 acre mineral package in Michigan (see the
Company's press release from
March 5, 2025
for further information).
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
("
November 2022 Technical Report
") 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 Copper Project. Copies are available on the Company's
website (
www.talonmetals.com
) or on SEDAR+ at (
www.sedarplus.ca
). 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.
Where used in this news release:
NiEq% = Ni% + Cu% x $3.75/$9.50 x Cu Recovery/Ni Recovery + Co% x $25.00/$9.50 x Co
Recovery/Ni Recovery + Pt [g/t]/31.103 x $1,000/$9.50/22.04 x Pt Recovery/Ni Recovery + Pd
[g/t]/31.103 x $1,000/$9.50/22.04 x Pd Recovery/Ni Recovery + Au [g/t]/31.103 x $1,400/$9.50/22.04 x
Au Recovery/Ni Recovery
CuEq% = Cu%+ Ni% x $9.50/$3.75 + Co% x $25.00/$3. + Pt [g/t]/31.103 x $1,000/$3.75/22.04 + Pd
[g/t]/31.103 x $1,000/$3.75/22.04 + Au [g/t]/31.103 x $1,400/$3.75/22.04
For Ni and Cu recoveries, please refer to the formulae in the November 2022 Technical Report.
Recovery of Ni to the Cu concentrate was excluded from the NiEq calculation. The following recoveries
were used for the other metals: 64.1% for Co, 82.5% for Pt, 69.3% for Pd and 72.6% for Au.
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 additional 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 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 US$114.8 million funding grant from the Bipartisan Infrastructure Law and the
US
Department of Defense awarded Talon a grant of US$20.6 million
to support and accelerate Talon's
exploration efforts in both Minnesota and Michigan. 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
or
contact:
Media Contact:
Jessica Johnson
1 (218) 460-9345
Investor Contact:
Mike Kicis
1 (647) 968-0060
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 work, including future drill results and assays, geologic and geophysical interpretations,
potential tonnage for a future potential mine, and whether Talon will enter into the earn-in and related
agreements with Lundin Mining. 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 Drill Holes not Previously Disclosed
Drill Hole (#)
Easting (m)
Northing (m)
Elevation (masl)
Azm
Dip
End Depth (m)
24TK0507
490677.7
5169020.1
388.0
84.1
-61.4
619.5
24TK0536
491111.4
5169076.7
388.0
235.6
-54.2
374.0
24TK0539
491112.0
5169077.1
388.0
227.2
-58.1
370.9
25TK0561
490842.9
5168859.1
388.0
23.0
-64.0
389.2
Collar coordinates are UTM Zone 15N, NAD83.
Azimuths and dips are taken from the survey record at collar unless otherwise noted.
Table 2: Quick Lithology Log
Drill Hole (#)
From (m)
To (m)
Length
Quick Log
% Sulphides
24TK0536
0
53.64
OB
53.64
343.35
FGO/MZNO
Traces-4%
343.35
344.17
0.82
MMS/MSU
80%
344.17
349.3
SED
349.3
351.35
2.05
MMS/MSU
20-80%
351.35
373.99
SED
24TK0539
0
48.16
OB
48.16
307.32
FGO/MZNO
Traces-10%
307.32
309.19
1.87
MMS/MSU
70%
309.19
370.94
SED
25TK0561
0
42.67
OB
42.67
290
FGO/MZNO
Traces-4%
290
353.1
CGO
1-5%
353.1
354.4
SED
354.4
359.16
CGO
Traces
359.16
367.63
8.47
MMS/MSU
15-80%
367.63
371.33
3.7
GAB
10%
371.33
375.25
3.92
MMS/MSU
65%
375.25
389.23
SED
Quick lithology log of drill holes: Overburden (OB) Meta-sedimentary rocks (SED); Coarse-grained Orthocumulate (CGO); Fine-grained Orthocumulate/
Mixed Zone (FGO/MZNO); Gabbro (GAB); Massive and mixed sulphide (MMS/MSU).
Table 3: Assay Table for Drill Hole 24TK0507
Drill Hole
(#)
From (m)
To (m)
Length (m)
Assay
NiEq (%)
CuEq (%)
Ni (%)
Cu (%)
Co (%)
Pd (g/t)
Pt (g/t)
Au (g/t)
24TK0507
274.95
292.00
17.05
0.47
0.26
0.02
0.17
0.28
0.13
0.74
1.82
and
382.50
422.59
40.09
0.72
0.51
0.02
0.27
0.48
0.22
1.15
2.90
including
402.00
418.00
16.00
0.96
0.67
0.02
0.41
0.69
0.28
1.50
3.84
and
456.95
457.88
0.93
7.57
4.30
0.06
8.41
22.00
7.10
14.42
39.63
and
485.45
487.40
1.91
1.15
0.87
0.02
0.95
1.53
0.61
2.01
5.20
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).
For Ni and Cu recoveries, please refer to the formulae in the November 2022 Technical Report. Recovery of Ni to the Cu concentrate was excluded
from the NiEq calculation.
The following recoveries were used for the other metals: 64.1% for Co, 82.5% for Pt, 69.3% for Pd and 72.6% for Au.
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