Talon Metals Reports Results for the Quarter
Talon Metals Reports Results for the Quarter
Ended June 30, 2022
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - August 15, 2022) - Talon Metals Corp.
(TSX: TLO) ("
Talon
" or the "
Company
") reported a net loss for the three months ended June 30, 2022
of $0.1 million or nil per share (basic and diluted), which was primarily the result of administration
expenses and stock option compensation offset by foreign currency gains.
This compares to a net loss
for the three months ended June 30, 2021 of $2.2 million or nil per share (basic and diluted), which was
primarily the result of administration expenses and stock option compensation.
Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-Cobalt Project
for the three months ended June 30, 2022 amounted to $11.8 million.
This compares to $7.7 million for
the three months ended June 30, 2021.
The total capitalized exploration cost to the Tamarack Nickel-
Copper-Cobalt Project to June 30, 2022 amounts to $128.7 million.
Condensed Interim Consolidated Financial Statements for the three and six months ended June 30,
2022 and 2021, together with Management's Discussion and Analysis have been filed on SEDAR and
are available at
www.sedar.com
.
All amounts are presented in Canadian dollars.
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, (ii) following up
on additional high-grade nickel mineralization in the Tamarack Intrusive Complex, and (iii) exploring the
prospects for significant carbon storage in the ultra-mafic rocks that comprise the Tamarack Intrusive
Complex through carbon mineralization.
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 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:
Sean Werger
President
Talon Metals Corp.
Tel: (416) 361-9636 x102
Email:
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/133797