Talon Metals Update: Drill Results Received FOR the 480, 221 and 164 Zones at Tamarack
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News Release
TSX:TLO
TALON METALS UPDATE:
DRILL RESULTS RECEIVED FOR THE 480, 221 and 164 ZONES AT
TAMARACK
Road Town, British Virgin Islands ( May 2 , 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.
Drill Results from the 2017 Tamarack Winter Exploration Program (480, 221 and 164
Zones)
The 2017 Tamarack winter exploration program goal was to determine if mineralized intrusions
exist outside of the known, modeled Fine Grained Peridotite ( “FGO”) and the Coarse Grained
Peridotite ( “CGO”) intrusions. Results from magnetotellurics, electromagnetic, gravity, and
airborne magnetic geophysical surveys were interpreted and geophysical anomalies were
prioritized. Different magma pulses are interpreted at the Tamarack Project, therefore
geophysical anomalies may indicate extensions of the known CGO and FGO intrusions , as well
as potentially identify other intrusions that have not previously been intercepted through the
drilling to date. The 2017 Tamarack winter exploration p rogram is expected to provide
Kennecott Exploration Company (“KEX”) with valuable information to continue the evaluation of
the Tamarack Project.
During the 2017 Tamarack winter exploration program, 11 holes were drilled to target depth, as
shown in Figure 1.
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Figure 1: Plan view showing approximate localities of drill holes for the 2017 Tamarack winter exploration
program, and specifically from the 480, 221 and 164 Zones where assay results have been received
Talon previously reported assays for drill holes 17TK0252 , 17TK0256, 17TK0257 and
17TK0258 in the 480 Zone (see Talon Metals’ press release April 5, 2017). Assays for an
additional 5 drill holes have been received and are discussed below.
The 480 Zone (17TK0255 and 17TK0260)
At the western edge of the Talon modelled CGO intrusion, drill hole 17TK0255 targeted a
negative magnetic and a high gravity anomaly, which intercepted 114.28 meters of CGO (from
464.72 meters to 579 meters) before entering 23.47 meters of FGO (from 579 meters to 602.47
meters). Note that drill hole 08L044 is located approximately 1 ,040 meters to the east of drill
hole 17TK0255 and therefore , the Talon modeled CGO intrusion, as depicted in Figure 1, was
interpreted using gravity and magnetic data . No signficant Nickel-Copper-PGE mineralization
was intercepted; however downhole electro -magnetic (“DHEM”) survey data indicated
conductivity to the north of drill hole 17TK0255 and therefore a follow up hole, drill hole
17TK0262, was drilled with assays pending.
Drill hole 17TK0 260 targeted a negative magnetic and a low gravity anomaly a pproximately
1,020 meters to the southeast of drill hole 17TK0255 , and 590 meters to the southwest of
previously drilled hole 15TK0225. The Talon modeled CGO intrusion is slightly north of drill
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hole 17TK0260. Drill hole 17TK0260 entered Mafic Intrusive (“MI”) from 474.7 meters to 478.11
meters, followed by 9.37 meters of CGO from 478.11 meters to 487.48 meters before entering a
30.22 meter sequence o f MI, Sediments, MI and finally sediments at 51 7.7 meters. The drill
hole was completed in sediments. No significant Nickel-Copper-PGE mineralization was
intercepted; however, DHEM survey data indicated conductivity to the north of drill hole
17TK0260 and therefore, a follow up hole, drill hole 17TK0263, was drilled with assays pending.
“Talon has integrated the geological, geochemical and geophysical survey data at the Tamarack
Intrusive Complex into a unified model, which allows the Talon team to simulate and predict drill
results with a high degree of confidence away from historical drill holes,” said Henri van Rooyen,
CEO of Talon Metals. “The predicted CGO intercepts at the 480 Zone, which are up to 1
kilometer away from the nearest drill hole, are good examples of harnessing the predictive
power of an integrated data modelling approach.”
The 221 Zone (17TK0261 and 17TK0254)
Drill hole 17TK0261 targeted a high gravity anomaly app roximately 670 meters west of the
Talon modelled CGO intrusion. The drill hole did not intercept any significant Nickel -Copper-
PGE mineralization. No follow-up work is planned in this area.
Drill hole 17TK0254 targeted a negative magnetic anomaly to the n orth of the Talon modeled
CGO intrusion, stepping out approximately 300 meters north of the mineralization observed in
drill hole 16TK0239 (see Talon ’s press release dated December 13, 2016 ). The drill hole did
not intercept any significant Nickel-Copper-PGE mineralization. No follow-up work is planned in
this area.
The 164 Zone (17TK0259)
Drill hole 17TK0259 targeted a potential basal depression in the Talon modelled FGO intrusion
interpreted from gravity and magnetic data. The hole drilled primarily FGO from 46.32 to 374.75
meters, followed by a sequence of sediments (50.1 meters), FGO (37 meters), sediments
(56.78 meters) and FGO (20 meters) before finally reaching a final depth in sediments at 691.59
meters. The drill hole did not intercept any sig nificant Nickel-Copper-PGE mineralization. From
364 meters to 374.75 meters blebby sulphides were intercepted . A Mixed Massive Sulphide
layer at the basal FGO -Sediment contact was observed at 53 8.63m. Presently, no follow -up
work is planned in this area.
Quality Assurance, Quality Control and Qualified Person
Please see the technical report entitled “First Independent Technical Report on the Tamarack
North Project, Tamarack, Minnesota” dated October 6, 2014 (the “ Tamarack North Technical
Report”) prepared by independent “Qualified Persons” Brian Thomas (P. G eo) of Golder, Paul
Palmer (P. Eng) of Golder and Manochehr Oliazadeh Khorakchy (P. Eng) of Hatch Ltd. for
information on the QA/QC, analytical and testing procedures employed by Kennecott at the
Tamarack Project. Copies are available on the Company’s website ( www.talonmetals.com) or
on SEDAR at ( www.sedar.com). The laboratory used by Kennecott is ALS Minerals who is
independent of Kennecott and 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.
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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.
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 development 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 a nd 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 o f the Company
based on information currently available to the Company. Such forward -looking statements
include, statements relating to the data from the 2017 winter exploration program providing KEX
with valuable information to continue its evaluation of t he 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 fr om 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. Factors that could cause
actual results or 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 interpreting DHEM and other
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 b elieves 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.
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Table 1: Collar Locations for Holes from the 2017 Winter Exploration Program
Hole ID Easting (m) Northing (m) Elevation
(masl) Azm Dip End
Depth
17TK0252 491731.7 5172936.7 390.4 340.9 -84.4 228.0
17TK0253* 489828.4 5172375.7 387.0 90.0 -84.0 69.2
17TK0254 492144.2 5170779.7 390.1 354.5 -84.3 579.9
17TK0255 489828.4 5172375.6 387.0 83.5 -85.2 687.9
17TK0256 491678.4 5173089.6 391.9 157.2 -75.7 324.6
17TK0257 491383.1 5172898.3 389.9 60.1 -84.3 242.0
17TK0258 491791.5 5173050.6 393.6 358.8 -75.5 212.8
17TK0259 490903.8 5167285.0 386.9 313.0 -74.9 691.6
17TK0260 490566.4 5171653.8 385.5 350.5 -84.8 582.6
17TK0261 490698.3 5170062.9 388.0 98.3 -85.1 596.8
17TK0262** 489828.3 5172376.5 401.0 21.9 -83.5 660.8
17TK0263 490553.0 5171757.0 385.7 245.5 -89.8 579.7
Collar coordinates are Professionally Surveyed (UTM Zone 15N, NAD83) unless otherwise noted.
*Hole Lost. Planned collar azm/dip used
** Measured by Differential GPS
Table 2: Assay Results from the 2017 Winter Exploration Program
Zone Hole ID FROM
(m)
To
(m)
LENGTH
(m) % Cu % Ni % Co Pt g/t Pd g/t Au g/t
480
17TK0252 NSM NSM NSM NSM NSM NSM
17TK0256 NSM NSM NSM NSM NSM NSM
17TK0257 NSM NSM NSM NSM NSM NSM
17TK0258 NSM NSM NSM NSM NSM NSM
221 N and
NW
17TK0254 NSM NSM NSM NSM NSM NSM
17TK0261 NSM NSM NSM NSM NSM NSM
164 Zone 17TK0259 NSM NSM NSM NSM NSM NSM
480 Zone
17TK0253 Abandoned and re-drilled (17TK0255)
17TK0255 NSM NSM NSM NSM NSM NSM
17TK0260 NSM NSM NSM NSM NSM NSM
17TK0262 Pending
17TK0263 Pending
Length: refers to borehole length and not True Width. True Width is unknown at the time of Publication.
NSM: No Significant Mineralization
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).