Talon Metals Reports Third Intercept of Massive and Mixed Massive Nickel Mineralization Drilled 26 Meters from Recent Discovery Hole at Tamarack Supporting Lateral Continuity Directional drilling program has now commenced at Tamarack
Talon Metals Reports Third Intercept of
Massive and Mixed Massive Nickel
Mineralization Drilled 26 Meters from Recent
Discovery Hole at Tamarack Supporting
Lateral Continuity
Directional drilling program has now commenced at Tamarack
Tamarack, Minnesota--(Newsfile Corp. - August 6, 2025) - Talon Metals Corp. (TSX: TLO) (OTCID:
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 the initial results of the third drill hole in the historic new Tamarack
discovery zone which sits below the existing Tamarack Resource Area and has now been named the
"Vault Zone"
. Drill hole 25TK0565 successfully targeted and intercepted a Talon generated borehole
electromagnetic ("
BHEM
") anomaly.
Highlights
Drill hole 25TK0565 targeted a Talon-identified borehole electromagnetic ("
BHEM
") anomaly
located 26 meters northwest of the historic 8.25-meter massive sulphide intercept in drill hole
16TK0250, which graded 12.62% Ni, 13.88% Cu, 0.12% Co, and 17.95 g/t PGEs+Au (see the
Company's press release dated
May 1, 2025
).
Drill hole 25TK0565 intersected a cumulative length of 20.30 meters of massive and mixed
massive nickel mineralization
starting at 672.10 meters (see Table 2) over a total length of
34.77 meters (see Figure 1). Assay results are pending.
Disseminated and vein-hosted mineralization above the massive sulphide intercept in drill hole
25TK0565 contains chalcocite and bornite, indicating potential hypogene enrichment and elevated
copper content, similar to what was observed in holes 16TK0250 and 25TK0563. To date, this
mineral assemblage has not been observed at the Tamarack Nickel Copper project outside of the
Vault Zone.
Hypogene enrichment is important because it can naturally upgrade the copper content of a
deposit, creating high-grade zones outside the main massive sulphide body and enhancing
the overall value of the mineralization.
Using two drill pads and two drill rigs, Talon has now begun a directional drilling program from
existing drill holes to target the Vault Zone. Five wedge holes targeting Talon-generated BHEM
anomalies are currently planned and additional targets are expected to be tested as drilling
progresses (see Figure 2).
"The CGO East and CGO West mineral zones were rapidly expanded through a disciplined approach
of incremental step-outs, guided by geological interpretation and the rapid acquisition, processing
and interpretation of
borehole electromagnetic
data to effectively vector each subsequent hole. Talon
is the only company globally to have developed and proven an integrated drilling, geology and
geophysics solution purpose-built to discover and rapidly expand high-grade nickel deposits along
the Mid-Continent Rift,"
said Henri van Rooyen, Talon's CEO.
"The 20.3 meters of mixed and massive mineralization that drill hole 25TK0565 intersected 26 meters
to the northwest of drill hole 16TK0250 corresponds well with the drainage model of how the
mineralization was formed in the Vault Zone.
A borehole electromagnetic survey in this hole clearly
shows an off-hole anomaly at depth which we believe is related to the mineralization intersected in drill
hole 25TK0563 and will be targeted with the recently commenced directional drilling program
targeting the newly named Vault Zone,"
said Brian Goldner, Talon's Chief Exploration and Operations
Officer.
Figure 1: Cross-Section looking north-west showing the location of new drill hole 25TK0565
compared to the high-grade intercept in drill hole 16TK0250
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/261373_7bd28441c4f06bde_001full.jpg
Background
Drill hole 16TK0250 was re-examined and extended from 649 meters depth in order to evaluate a
subtle BHEM response observed in the data.
The drill hole encountered significant mineralization at a depth of 707.75 meters, including
8.25 meters grading 12.62% Ni, 13.88% Cu, 17.95g/t PGEs+Au (23.28% NiEq or
48.87% CuEq)
BHEM surveys of drill holes 16TK0250 and 25TK0562 identified multiple stacked BHEM
anomalies which were targeted with drill hole 25TK0563.
Drill hole 25TK0563 intersected a combined length of
34.90 meters of massive sulphide
starting at 762.34 meters grading 14.86% Ni, 15.37% Cu, 0.11% Co, 9.18 g/t Au, 16.31 g/t
Pt, 8.65 g/t Pd, and 42.92 g/t Ag (28.88% NiEq and 57.76% CuEq)
(see the Company's press
release dated
June 5, 2025
)
These discoveries are located approximately
100 meters
and
150 meters
below the current
Tamarack resource.
The geological setting of the two new discoveries in drill holes 16TK0250 and 25TK0563
represents an accumulation of massive sulphides with the highest recorded nickel and copper
tenor in the geology of the Tamarack Intrusive Complex. The current drainage model interpretation
suggests that this enrichment in metal tenor may result from sulphide fractionation, where gravity-
driven sulphide liquid drains into structural or stratigraphic traps.
Talon has been undertaking BHEM surveys with multiple loops and has generated additional
BHEM plates that show a stacked system of electromagnetic anomalies which will be tested in this
directional drilling program (see Figure 3).
Directional Drilling Program
Using two drill pads and two drill rigs, Talon has now begun a directional drilling program from existing
drill holes to target the Vault Zone. Five wedge holes targeting Talon-generated BHEM anomalies are
currently planned and additional targets are expected to be tested as drilling progresses (see Figure 2).
The initial planned wedge drill holes (with follow-up drill holes as determined by results) will branch from:
Hole 25TK0563 at approximately 575 meters depth (four wedge drill holes)
Hole 16TK0250 at approximately 550 meters depth (one wedge drill hole)
The BHEM anomaly associated with drill hole 16TK0250 measures approximately 20 by 30 meters,
oriented east-west. The first wedge drill hole will test the southern edge of this anomaly with a step-out of
approximately 15 meters.
The BHEM anomaly associated with drill hole 25TK0563 consists of a complex network of highly
conductive zones of varying dimensions, oriented northwest-southeast and dipping moderately to the
north. The planned wedge drill holes will target the north, east, west, and south extents of this anomaly.
Additional drilling will be guided by the results of each BHEM survey. Talon's geophysical team operates
on a
24-hour turnaround
, allowing for rapid identification of new drill targets.
Figure 2: Plan view map of the southern portion of the Tamarack Resource Area focusing on
the two new discoveries in the Vault Zone below the 138 Zone and showing the initial planned
wedge drill holes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/261373_7bd28441c4f06bde_002full.jpg
Figure 3: Cross-Section looking south (see Figure 2) showing a stacked system of conductors
from interpreted BHEM survey data.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2443/261373_7bd28441c4f06bde_003full.jpg
Geological Observations
Drilling will improve the Company's understanding of the mineralization intersected in drill holes
16TK0250 and 25TK0563. Current observations indicate the mineralization is bounded by a flat dipping
hanging wall and footwall contacts within the country rock consistent with the general 15-18 degree
southward dip of mineralization across the Tamarack Resource Area.
Historically at the Tamarack Nickel Copper Project, massive sulphide accumulations have formed in
three dominant geometries:
1
.
As elongated, tube-shaped bodies (the Massive Sulphide Unit or MSU),
2
.
As laterally extensive sheet-like accumulations along the footwall of the intrusion, as observed in
CGO East and CGO West, or
3
.
A near-vertical structure along the intrusive-meta-sedimentary rock contact.
Based on early geological observations, the mineralization in the Vault Zone is expected to exhibit a
similar setting to the MSU, hosted within country rock meta-sedimentary units and governed by the same
accumulation processes. The feeder of the accumulation could potentially be represented by a near
vertical mineralized structure similar to the ones observed in the CGO East waterfall and CGO West
waterfall.
Lundin Earn-in Agreement Update
Talon and Lundin Mining Corporation ("
Lundin Mining
") have extended the exclusivity period until
August 31, 2025 as the parties continue to work on the earn-in and related agreements ("
Lundin
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 mineral 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).
Talon has two of its drill rigs currently drilling at Boulderdash and is mobilizing a third drill rig to begin
drilling in the next week.
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 $4.00/$8.00 x Cu Recovery/Ni Recovery + Co% x $20.00/$8.00 x Co
Recovery/Ni Recovery + Pt [g/t]/31.103 x $1,000/$8.00/22.04 x Pt Recovery/Ni Recovery + Pd
[g/t]/31.103 x $1,000/$8.00/22.04 x Pd Recovery/Ni Recovery + Au [g/t]/31.103 x $2,000/$8.00/22.04 x
Au Recovery/Ni Recovery + Ag [g/t]/31.103 x $20.00/$8.00/22.04 x Ag Recovery/Ni Recovery
CuEq% = Cu%+ Ni% x $8.00/$4.00 x Ni Recovery/Cu Recovery + Co% x $20.00/$4.00 x Co
Recovery/Cu Recovery + Pt [g/t]/31.103 x $1,000/$4.00/22.04 x Pt Recovery/Cu Recovery + Pd
[g/t]/31.103 x $1,000/$4.00/22.04 Pd Recovery/Cu Recovery + Au [g/t]/31.103 x $2,000/$4.00/22.04 Au
Recovery/Cu Recovery + Ag [g/t]/31.103 x $20.00/$4.00/22.04 x Ag Recovery/Cu 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 and Ag.
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
(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 holes, drill results and assays, geophysics and geological
interpretations, and whether Talon will enter into the Lundin Agreements. 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 25TK0565
Drill Hole (#)
Easting (m)
Northing (m)
Elevation (masl)
Azm
Dip
End Depth (m)
25TK0565
490999.3
5168292.8
388.0
85.7
-88.3
870.2
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 for Drill Hole 25TK0565
Drill Hole (#)
From (m)
To (m)
Length (m)
Quick Log
% Sulphides
25TK0565
0
64.01
OB
64.01
426.72
FGO/MZNO
Tr-2%
426.72
526.58
99.86
FGO/MZNO
5-20%
526.58
526.82
0.24
MSU
85%
526.82
643.1
CGO
Tr-2%
643.1
672.1
SED
672.1
689.14
17.04
MMS/MSU
15-75%
689.14
690.92
SED
690.92
695.73
CGO
Traces
695.73
703.61
SED
703.61
706.87
3.26
MMS/MSU
30-80%
706.87
707.47
SED
707.47
778.86
CGO
Tr-3%
778.86
786.23
SED
786.23
870.2
CGO
Quick lithology log of drill holes: Overburden (OB); Meta-sedimentary rocks (SED); Fine-grained Orthocumulate/Mixed Zone (FGO/MZNO); Coarse-
grained Orthocumulate (CGO); Mixed and Massive sulphide (MMS/MSU).
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/261373