Talon Metals Intercepts High-Grade Nickel- Copper Mineralization in 14 New Holes Located Outside of the Tamarack Nickel Project Resource
Talon Metals Intercepts High-Grade Nickel-
Copper Mineralization in 14 New Holes
Located Outside of the Tamarack Nickel
Project Resource
Tamarack, Minnesota--(Newsfile Corp. - November 16, 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, today reports new holes
drilled at the Tamarack Nickel Project, with numerous massive sulphide intercepts outside the Tamarack
Nickel Project's resource.
Figure 1: Drill core from drill hole 22TK0424 showing 10.49 meters of massive sulphide
assaying 6.22% Ni located outside the Tamarack Nickel Project resource (near the CGO West
area).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/187549_2b7651ed446a6889_001full.jpg
Highlights
Talon is releasing results from 116 new drill holes at the Tamarack Nickel Project, of which 20 are
exploration holes drilled with the goal of expanding the resource at the Tamarack Nickel Project,
while 96 are geotechnical holes that were drilled to support engineering work for a future mine and
rail access at the Tamarack Nickel Project.
14 of the 20 exploration drill holes intersected high-grade nickel-copper mineralization outside of
the Tamarack Nickel Project's resource (13 holes with assays released today and 7 holes with
assays still pending) (see Table 3, Table 4 and Figure 2).
The Tamarack Nickel Project continues to show significant high-grade nickel-copper growth
potential with multiple areas still open to expansion.
Some notable drill holes:
Proximate to the CGO East area, two drill holes (22TK0431 and 22TK0435) intersected
4.54 meters of 4.63% NiEq and 3.25 meters of 3.56% NiEq, respectively, of high-grade
massive sulphides approximately 75 meters down strike from the Tamarack Nickel Project
resource (see CGO East mineralized envelope in Figure 3).
Of note, the 4.54 meter intercept of high-grade massive sulphides contained in drill
hole 22TK0431 ties the Tamarack Nickel Project's record for the longest high-grade
massive sulphide interval in the CGO East area to date.
In the CGO West area, drill holes 22TK0421 and 22TK0424 intersected 8.5 meters of 8.05%
NiEq and 10.49 meters of 7.97% NiEq, respectively, of high-grade massive sulphides
outside of the Tamarack Nickel Project's resource (see Figure 2 below). CGO West remains
open at depth and represents a high priority exploration target for the Company.
In the Upper Semi-Massive Sulphide Unit, a number of drill holes have intersected thick
sequences of mineralization, such as drill hole 22TK0425, which intersected 48.68 meters of
1.16% NiEq and resides outside of the Tamarack Nickel Project's resource (see Figure 2
below).
Table 1: Highlighted Assay Results (see Table 3 for further technical information)
Drill Hole
From
To
Length
Assay
NiEq (%)
(#)
(m)
(m)
(m)
Ni (%)
Cu (%)
Co (%)
Pd (g/t)
Pt (g/t)
Au (g/t)
22TK0421
221.50
230.00
8.50
6.86
2.07
0.18
0.22
0.26
0.11
8.05
22TK0424
255.29
265.78
10.49
6.22
3.26
0.13
0.57
0.53
0.55
7.97
22TK0425
310.29
358.97
48.68
0.84
0.48
0.03
0.10
0.17
0.10
1.16
22TK0427
476.65
477.30
0.65
4.45
5.47
0.06
0.63
0.50
1.54
7.28
22TK0428
225.20
249.09
23.89
0.53
0.29
0.02
0.05
0.12
0.10
0.76
22TK0431
226.06
256.60
30.54
0.55
0.31
0.02
0.06
0.14
0.11
0.79
And
286.96
294.11
7.15
2.55
0.98
0.09
0.26
0.25
0.18
3.23
Including
289.57
294.11
4.54
3.72
1.37
0.14
0.30
0.20
0.20
4.63
22TK0435
290.86
294.11
3.25
2.28
1.15
0.25
1.38
0.23
0.62
3.56
22TK0437
325.50
351.50
26.00
0.60
0.35
0.02
0.23
0.42
0.18
0.94
22TK0442
256.56
271.52
14.96
0.64
0.42
0.02
0.06
0.09
0.06
0.91
22TK0443
280.00
308.20
28.20
0.62
0.39
0.02
0.06
0.13
0.08
0.88
"Fourteen of the twenty new exploration drill holes contained in today's news release have produced
new high-grade nickel-copper intercepts outside of the Tamarack Nickel Project's resource. Today's
results yet again highlight the prospectivity for significant resource growth throughout the Tamarack
Intrusive Complex,"
said Brian Goldner, Talon's Chief Exploration Officer.
"In addition to today's excellent drill results, Talon's drill crews have reached an incredible milestone,
as they have successfully completed three years without a recordable incident or injury,"
said George
Zugel, Talon's Head of Health and Safety.
"When our in-house drilling program began three years ago,
it was built around a group of five experienced drillers who trained incoming helpers to execute their
tasks safely and efficiently.
We have since grown to over 35 drill staff from the original five and have
been able to maintain our health and safety focus throughout that growth. This group inspires
excellence in all of us."
Figure 2: Plan view geologic map of the Tamarack Nickel Project Resource Area with the
locations of new nickel-copper mineralization intervals
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/187549_2b7651ed446a6889_002full.jpg
Figure 3: Cross-section looking north in the Tamarack Nickel Project Resource Area (within
the CGO East area), with the locations of new nickel-copper mineralization intervals showing
potential extension of 75 meters of nickel-copper mineralization from the CGO East mineralized
envelope (for further technical information in respect of historical drill holes in grey boxes,
please see the Company's press releases dated May 4, 2021 and October 5, 2021)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/187549_2b7651ed446a6889_003full.jpg
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 Project. Copies are available on the Company's website
(
www.talonmetals.com
) or on SEDAR+ at (
www.sedarplus.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.
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
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 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 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
.
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, and the results thereof, including potential expansion and resource growth. 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 2: Collar Locations of New Exploration Drill Holes
Drill Hole
Easting
(m)
Northing
(m)
Elevation
(masl)
Azm
Dip
End Depth
(m)
22TK0420
490769.9
5168675.0
390.0
24.0
-73.0
461.8
22TK0421
490910.3
5169083.7
388.2
31.6
-78.4
287.0
22TK0422
490909.6
5169083.3
388.4
1.7
-79.3
285.9
22TK0424
490909.5
5169083.2
388.3
53.9
-80.1
334.7
22TK0425
490910.3
5169082.5
388.0
207.5
-79.2
417.3
22TK0427
490696.7
5168537.8
388.6
150.8
-67.3
601.7
22TK0428
490911.5
5169024.8
388.6
119.8
-79.6
355.7
22TK0431
490911.4
5169024.3
388.6
151.9
-81.0
328.3
22TK0434
490911.8
5169024.6
388.8
131.3
-75.3
328.6
22TK0435
490911.9
5169023.3
388.6
178.6
-80.4
435.3
22TK0437
490911.4
5169022.4
388.6
203.0
-76.1
477.6
22TK0442
490911.8
5169024.1
388.6
52.0
-69.0
406.0
22TK0443
490910.7
5169022.8
388.5
28.2
-78.9
457.2
23TK0447
490600.3
5168732.8
390.1
93.3
-70.9
493.2
23TK0471
490836.3
5168860.2
388.0
73.3
-78.5
364.9
23TK0473
490722.7
5168791.3
388.0
104.5
-84.8
519.4
23TK0474
490836.3
5168860.2
388.0
144.2
-80.0
350.8
23TK0475
490836.3
5168860.3
388.0
126.5
-71.1
355.7
23TK0477
490836.3
5168860.3
388.0
42.3
-76.2
410.6
23TK0478
490836.3
5168860.3
388.0
56.2
-45.8
446.5
Collar coordinates are UTM Zone 15N, NAD83
Azimuths and dips are taken from survey record at collar unless otherwise noted.
Table 3: Assay Results of New Exploration Drill Holes
Drill Hole
From
To
Length
Assay
NiEq (%)
(#)
(m)
(m)
(m)
Ni
(%)
Cu
(%)
Co
(%)
Pd
(g/t)
Pt
(g/t)
Au
(g/t)
22TK0431
226.06
256.60
30.54
0.55
0.31
0.02
0.06
0.14
0.11
0.79
and
286.96
294.11
7.15
2.55
0.98
0.09
0.26
0.25
0.18
3.23
including
289.57
294.11
4.54
3.72
1.37
0.14
0.30
0.20
0.20
4.63
22TK0435
249.50
265.27
15.77
0.51
0.27
0.02
0.08
0.18
0.11
0.74
and
290.86
294.11
3.25
2.28
1.15
0.25
1.38
0.23
0.62
3.56
22TK0420
345.64
354.18
8.54
0.93
0.50
0.03
0.30
0.44
0.23
1.34
22TK0421
221.50
230.00
8.50
6.86
2.07
0.18
0.22
0.26
0.11
8.05
22TK0422
204.40
205.92
1.52
1.10
1.05
0.03
0.09
0.15
0.09
1.65
22TK0424
255.29
265.78
10.49
6.22
3.26
0.13
0.57
0.53
0.55
7.97
22TK0425
289.10
297.00
7.90
0.56
0.39
0.02
0.04
0.06
0.08
0.82
and
310.29
358.97
48.68
0.84
0.48
0.03
0.10
0.17
0.10
1.16
22TK0427
476.65
477.30
0.65
4.45
5.47
0.06
0.63
0.50
1.54
7.28
22TK0428
225.20
249.09
23.89
0.53
0.29
0.02
0.05
0.12
0.10
0.76
and
266.00
267.20
1.20
1.13
0.71
0.03
0.09
0.16
0.09
1.53
22TK0434
286.67
287.22
0.55
0.86
0.67
0.05
0.14
0.39
0.09
0.86
22TK0437
325.50
351.50
26.00
0.60
0.35
0.02
0.23
0.42
0.18
0.94
22TK0442
256.56
271.52
14.96
0.64
0.42
0.02
0.06
0.09
0.06
0.91
22TK0443
280.00
308.20
28.20
0.62
0.39
0.02
0.06
0.13
0.08
0.88
23TK0471
No significant mineralization (assays pending)
23TK0473
23TK0474
23TK0475
23TK0477
23TK0478
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 $3.75/$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
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.
Table 4: Quick Lithology Log for Drill Hole 23TK0447
Drill Hole
From (m)
To (m)
Length
Quick Log
% Sulphides
23TK0447
0
44.81
OB
44.81
362.71
FGO/MZNO
Traces
362.71
363.32
0.61
MMS
40%
363.36
380.02
SED
380.02
389.78
9.76
MMS/MSU
50-85%
389.78
391.18
MI
391.18
435.51
CGO
Tr-1%
435.51
453.54
18.03
CGO
4-7%
453.54
472.14
CGO
Traces
472.14
483.11
MZNO
483.11
486.46
CGO
486.46
493.17
MZNO
Quick lithology log of drill holes: Overburden (OB); Meta-sedimentary rocks (SED); Coarse-grained Orthocumulate (CGO); Gabbro (GAB); Mixed and
Massive sulphide (MMS/MSU); Fine-grained Orthocumulate/Mixed Zone (FGO/MZNO); Mafic Intrusive (MI).
Table 5: Collar Locations of Geotechnical Drill Holes
(Note: no significant mineralization has been encountered in the following drill holes)
Drill Hole
Easting
(m)
Northing
(m)
Elevation
(masl)
Azm
Dip
End Depth
(m)
22TKCP001
490401.7
5169006.7
388.8
0
-90
19.8
22TKCP002
490437.6
5168912.5
388.8
0
-90
13.1
22TKCP003
490646.2
5168757.0
389.5
0
-90
9.8
22TKCP004
490550.9
5168770.1
389.0
0
-90
17.7
22TKCP005
490548.5
5168701.0
389.7
0
-90
19.8
22TKCP006
490338.6
5169010.4
387.9
0
-90
6.6
22TKCP007
490357.9
5168904.2
389.0
0
-90
17.5
22TKCP012
490711.1
5168670.1
390.2
0
-90
12.5
22TKCP013
490623.0
5168773.5
389.1
0
-90
10.7
22TKSP001
490371.8
5169097.1
387.8
0
-90
25.0
22TKSP002
490540.2
5168947.1
388.5
0
-90
9.4
22TKSP003
490356.8
5168883.4
389.1
0
-90
9.4
22TKSP004
490558.8
5168855.3
388.4
0
-90
9.4
22TKSP005
490525.0
5168814.4
388.5
0
-90
9.4
22TKSP006
490466.8
5168841.0
388.8
0
-90
9.4
22TKSP007
490728.3
5168795.6
389.1
0
-90
9.4
22TKSP008
490491.9
5168614.9
389.4
0
-90
9.4
22TKSP009
490747.0
5168773.2
389.4
0
-90
9.4
22TKSP010
490545.2
5168710.7
389.6
0
-90
9.4
22TKSP011
490535.8
5168662.1
389.6
0
-90
9.4
22TKSP012
490567.6
5168615.0
389.6
0
-90
9.4
22TKSP013
490749.4
5168636.8
389.5
0
-90
9.4
22TKSP014
490439.9
5168790.8
388.7
0
-90
4.4
22TKSP015
490433.9
5168687.2
389.4
0
-90
4.4
22TKSP016
490435.8
5168515.1
390.2
0
-90
4.4
22TKSP017
490442.9
5168368.2
392.9
0
-90
4.4
22TKSP018
490750.4
5168685.3
389.5
0
-90
24.7
22TKSP019
490339.9
5169008.4
388.2
0
-90
26.8
22TKSP020
490652.7
5168806.7
389.7
0
-90
24.4
22TKSP021
490356.6
5168833.4
388.6
0
-90
9.4
22TKSP022
490521.1
5168928.1
388.4
0
-90
9.4
22TKSP023
490495.5
5168861.4
388.4
0
-90
9.4
23TKCP102
491094.5
5166456.8
387.7
0
-90
4.6
23TKCP106
491020.0
5166634.5
391.3
0
-90
4.6
23TKCP108
491023.4
5166803.0
387.0
0
-90
10.7
23TKCP111
491026.4
5166961.6
386.6
0
-90
9.1
23TKCP113
491027.7
5167053.2
386.6
0
-90
25.9
23TKCP115
491028.5
5167133.5
386.7
0
-90
25.9
23TKCP117
491027.5
5167215.9
386.8
0
-90
25.9
23TKCP119
491030.1
5167283.7
387.1
0
-90
9.1
23TKCP121
491030.3
5167392.4
387.8
0
-90
9.1
23TKCP123
491032.1
5167565.6
387.9
0
-90
6.1
23TKCP125
491035.0
5167752.7
388.7
0
-90
6.1
23TKCP127
491022.0
5167878.1
388.4
0
-90
9.1
23TKCP129
490980.5
5167962.4
390.2
0
-90
9.1
23TKCP131
490886.7
5168042.7
388.1
0
-90
6.1
23TKCP134
490706.5
5168155.6
388.0
0
-90
9.1
23TKCP136
490626.8
5168211.1
387.9
0
-90
9.1
23TKCP138
490547.9
5168261.4
387.9
0
-90
9.1
23TKCP140
490485.0
5168312.8
392.9
0
-90
6.1
23TKSP101
491224.0
5166406.6
388.9
0
-90
4.4
23TKSP103
490868.2
5166274.4
386.9
0
-90
4.4
23TKSP104
490959.6
5166354.8
386.7
0
-90
4.4
23TKSP105
491029.4
5166513.5
388.8
0
-90
4.4
23TKSP107
491023.1
5166720.2
388.9
0
-90
6.4
23TKSP109
491025.6
5166874.1
386.4
0
-90
30.4
23TKSP110
491023.5
5166915.9
386.3
0
-90
32.3
23TKSP112
491027.7
5167010.7
386.8
0
-90
9.6
23TKSP114
491025.0
5167097.1
386.6
0
-90
24.3
23TKSP116
491023.5
5167185.1
386.6
0
-90
25.6
23TKSP118
491029.2
5167257.8
387.0
0
-90
12.5
23TKSP120
491028.8
5167330.0
387.4
0
-90
9.4
23TKSP122
491032.0
5167465.8
387.9
0
-90
4.4
23TKSP124
491035.4
5167658.1
388.1
0
-90
6.4
23TKSP126
491036.4
5167814.2
388.4
0
-90
6.4
23TKSP128
491004.1
5167928.9
388.3
0
-90
18.6
23TKSP130
490940.2
5168001.5
390.9
0
-90
9.4
23TKSP132
490798.8
5168092.8
387.8
0
-90
28.8
23TKSP133
490742.6
5168134.4
388.0
0
-90
31.9
23TKSP135
490663.7
5168190.2
387.9
0
-90
18.6
23TKSP137
490570.2
5168248.4
387.9
0
-90
9.4
23TKSP139
490517.0
5168283.7
389.0
0
-90
6.4
23TKSP141
490652.8
5168807.4
389.3
0
-90
24.3
23TKSP142
490661.9
5168867.9
388.6
0
-90
25.1
23TKSP143
490666.6
5168929.3
388.3
0
-90
22.7
23TKSP144
490769.6
5168677.5
389.9
0
-90
26.8
23TKSP145
490827.2
5168691.6
389.2
0
-90
25.0
Drill Hole
Easting
(m)
Northing
(m)
Elevation
(masl)
Azm
Dip
End Depth
(m)