Talon Metals Reports 12.7 Meter Intercept Outside of the Resource Area Assaying 7.5% Nickel Equivalent
Talon Metals Reports 12.7 Meter Intercept
Outside of the Resource Area Assaying 7.5%
Nickel Equivalent
Tamarack, Minnesota--(Newsfile Corp. - March 20, 2024) - 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, provides assay results from drillhole
23TK0447 located outside of the Tamarack Resource Area of the Tamarack Nickel Project.
Figure 1: 12.72m assaying 7.5% NiEq intersected in drill hole 23TK0447 at a depth of 380
meters.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/202387_c39bc4d4f4444abf_001full.jpg
Today's results include a
12.72 meter (41.7 feet)
intercept of high-grade massive nickel and copper
mineralization assaying
6.04% Ni and 2.68% Cu (7.5% NiEq)
at a depth of 380.7 meters. In addition,
drill hole 23TK0447 intercepted and an additional 25.26 meters (82.87 feet) of disseminated sulphides
at a depth of 435.6 meters.
Talon currently has 4 rigs at the Tamarack Nickel Project, with 2 rigs drilling in the Raptor Zone, and 2
rigs drilling outside of the Tamarack Resource Area with the goal of further increasing the mineable
resource tonnage.
Talon plans to provide an update on ongoing positive drilling results in the Raptor Zone and elsewhere
along the Tamarack Intrusive Complex in the coming weeks.
Summary
12.72 meters (41.7 feet) of high-grade massive nickel and copper mineralization assaying 6.04%
Ni and 2.68% Cu (7.5% NiEq) located 10 meters outside of the Tamarack Resource Area at a
depth of 380.7 meters.
An additional 25.26 meters (82.87 feet) of disseminated sulphides assaying at 0.695% Ni and
0.493% Cu (1.13% NiEq) starting at a depth of 435.6 meters.
The intercept from drill hole 23TK0447 was targeting an off-hole borehole electromagnetic
anomaly (geophysics) that extended beyond the internally modeled resource area. There are more
geophysical anomalies that extend beyond the Tamarack Resource Area that Talon has yet to
explore.
An additional objective of drill hole 23TK0447 was to conduct in-situ stress testing in this hole. The
purpose of these tests was for advanced geotechnical modeling to refine and optimize the mine
design and extraction sequence.
On the drill hole results announced today, Brian Goldner, Talon's Chief Exploration Officer
said:
"Our in-house geophysics continues to show its ability to consistently generate reliable targets,
which has been invaluable in hitting fantastic intercepts outside of the Tamarack Resource Area, such
as drill hole 23TK0447
.
Today's results continue to demonstrate that the high-grade nickel resource
continues to expand. From an economic standpoint, this is the low hanging fruit that will ultimately
increase project economics early in the mine life."
Sean Werger, President of Talon also made some comments on the Tamarack Nickel Project
amidst the current nickel market:
"The recent decline in nickel prices, attributed to the rapid
increase in Indonesian production from predominantly Chinese funded and owned facilities,
highlights the importance of investing in projects that will be high-grade, and consequently low-cost
quartile producers, such as the Tamarack Nickel Project"
said Sean Werger, President of Talon.
"Talon nickel is uniquely positioned to provide Electric Vehicle (EV) customers peace of mind,
knowing that nickel in their EV battery is produced at the world's highest environmental standards
while at the same time qualifying for the Inflation Reduction Act tax credit. Nickel from the US is the
smart move - cost competitive and removes reputational risks."
Figure 2: Plan view map of the Tamarack Nickel Project Resource Area with the location of
hole 23TK0447, outside of the resource.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/202387_c39bc4d4f4444abf_002full.jpg
Figure 3: Cross-section of the Tamarack Nickel Project Resource Area with the location of drill
hole 23TK0447, outside of the resource. View looking North. Please see the November 2022
Technical Report for further technical information on the other drill holes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/202387_c39bc4d4f4444abf_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.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.
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 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; and the potential for the Tamarack Nickel Project to be a low
cost producer. 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 Hole 23TK0447
Drill Hole
Easting
(m)
Northing
(m)
Elevation
(masl)
Azm
Dip
End
Depth (m)
23TK0447
490600.3
5168732.8
390.1
93.3
-70.9
493.2
Collar coordinates are UTM Zone 15N, NAD83
Azimuths and dips are taken from survey record at collar unless otherwise noted
Table 2: Assay Results from Drill Hole 23TK0447
Drill Hole
From
To
Length
Assay
NiEq (%)
(#)
(m)
(m)
(m)
Ni (%)
Cu (%)
Co (%)
Pd (g/t)
Pt (g/t)
Au (g/t)
23TK0447
380.07
392.79
12.72
6.04
2.68
0.13
0.47
0.59
0.20
7.50
including
387.5
392.79
5.29
7.15
2.93
0.16
0.58
0.66
0.19
8.75
and
435.6
460.86
25.26
0.70
0.49
0.02
0.27
0.52
0.27
1.13
Lengt
h refers to d
rill 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.
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