Talon Metals Update: 2017 Winter Exploration Update at the Tamarack Project
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News Release
TSX:TLO
TALON METALS UPDATE:
2017 WINTER EXPLORATION UPDATE AT THE TAMARACK PROJECT
Road Town, British Virgin Islands ( February 17, 2017) – Talon Metals Corp. (“ Talon” or the
“Company”) (TSX: TLO) is pleased to provide an update on the Tamarack Nickel-Copper-PGE
project (“Tamarack Project”), located in Minnesota, USA. The Tamarack Project comprises the
Tamarack North Project and the Tamarack South Project. Talon owns an 18.45% interest in the
Tamarack Project.
2017 Winter Exploration Program
Kennecott Exploration Company ( “Kennecott”) has commenced an approximately US$3 -
million exploration program at the Tamarack Project , with three drill rigs working in different
areas of the Tamarack Intrusive Complex.
Whereas the successful 2016 Summer Exploration Program primarily focused on stepping away
from known mineralization (see the Company’s press releases dated December 13, 2016 and
December 19, 2016), the 2017 Winter Exploration P rogram is mainly focused on testing new
targets. Many of these new targets have been identified from the expanded gravity and
magnetotelluric (“MT”) surveys completed during 2016.
The primary objectives for the 2017 Winter Exploration Program are to:
Test new targets based upon interpretations from geophysical survey results , located
southwest of the 480 Zone , northwest and southeast of the 221 Zone and west of the
164 Zone;
Follow-up with ste p-out drilling in the 480 Zone north of the Tamarack Zone, where
previous drilling identified an intrusion hosting shallow mineralization; and to
Test a modeled depression in the Fine Grained Peridotite ( “FGO”) located along the
intrusion axis or ‘keel’ in the 164 Zone. This target has a similar geological setting as the
Tamarack Zone and the 138 Zone and is located approximately 900 meters south of the
138 Zone.
As of February 14, 2017, six drill holes have already been completed and three drill holes were
in progress (see Figure 1). Results will be released upon receipt of QA/QC’d assays.
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Figure 1: Plan showing locality areas of proposed drill holes for the 2017 Winter Exploration Program
Corporate Update
In late January, the Company received US$2 -million from Resource Capital Fund VI L.P. in
accordance with the terms of the amended loan agreement dated November 25, 2017 (see the
Company’s press release dated January 18 , 2017). These proceeds are being used by the
Company to fund, amo ng other things, its 18.45% share of the 2017 Winter Exploration
Program at the Tamarack Project.
Talon has already advanced its share of the cost of the 2017 Winter Exploration Program to
Kennecott. Following the 2017 Winter Exploration Program , it is expected that Kennecott will
utilize all of the data accumulated from the Tamarack Project to date to make a decision in
regards to the next steps at the Tamarack Project.
As discussed in the Company’s press release dated Dec ember 19, 2016, Kenn ecott has until
September 25, 2017 to make an election whether to grant Talon Nickel (USA) LLC, a wholly
owned subsidiary of Talon , the option to either purchase its interest in the Tamarack Project or
form the Mining Venture Agreement. The Company will k eep shareholders abreast of any
material developments in respect of this subject matter.
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Quality Assurance, Quality Control and Qualified Person
The locations and distances highlighted on all maps in this news release are approximate.
James McDonald, Vice President, Resource Geology of Talon is a Qualified Person within the
meaning of NI 43-101. Mr. McDonald 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.
About Talon
Talon is a TSX -listed company focused on the exploration and de velopment of the Tamarack
Nickel-Copper-PGE Project in Minnesota, USA (which comprises the Tamarack North Project
and the Tamarack South Project). The Company has a well -qualified exploration and mine
management team with extensive experience in project management.
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: [email protected]
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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 availa ble to the Company. Such forward -looking statements
include, statements relating to the expectation that Kennecott will utilize all of the data
accumulated from the Tamarack Project to date to make a decision in regards to the next steps
at the Tamarack Project and the form and extent of mineralization, targets, goals, objectives and
plans. Forward -looking statements are subject to significant risks and uncertainties and other
factors that could cause the actual results to differ materially from those discu ssed 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. Factors that could cause actual results o r events to differ materially from current
expectations include, but are not limited to: failure to establish estimated mineral resources, the
grade, quality and recovery of mineral resources varying from estimates, the uncertainties
involved in interpreti ng DHEM surveys, drilling results and other geological data, inaccurate
geological and metallurgical assumptions (including with respect to the size, grade and
recoverability of mineral reserves and resources, uncertainties relating to the financing needed
to further explore and develop the properties or to put a mine into production and other factors
(including exploration, development and operating risks)).
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 assumpti ons 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.