US EV Battery Supply Chain: Talon Metals Announces 31 New Drill Holes at the Tamarack Nickel Project - Including 15.08 Meters of Nickel & Copper Mineralization Area of nickel-copper rich mineralization in CGO West area continues to expand
US EV Battery Supply Chain: Talon Metals
Announces 31 New Drill Holes at the Tamarack
Nickel Project - Including 15.08 Meters of
Nickel & Copper Mineralization
Area of nickel-copper rich mineralization in CGO West area
continues to expand
Tamarack, Minnesota--(Newsfile Corp. - February 1, 2022) - Talon Metals Corp. (TSX: TLO) ("
Talon
" or
the "
Company
") is pleased to provide an update on the Tamarack Nickel-Copper-Cobalt Project
("
Tamarack Nickel Project
"), located in central Minnesota.
Figure 1: 15.08 meters of mixed and massive sulphide nickel and copper mineralization in
21TK0355 beginning at 202.86 meters depth
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2443/112233_01756ab52428b9bf_001full.jpg
The drilling campaign continues at the Tamarack Nickel Project, with 4 drill rigs currently turning.
The Talon team reports an additional 31 new drill holes outside of the Tamarack Nickel Project's
resource area, within the CGO West area. The CGO West area lies approximately 100 meters north-
north-east of the Tamarack Nickel Project's resource area and extends for an additional 400 meters
beyond where past drilling showed the presence of nickel-copper mineralization.
All of the new holes
reported today have intercepted nickel-copper mineralization, with assays pending
.
"Our in-house geology, geophysics and geotechnical teams go from strength to strength with the drill
program at the Tamarack Nickel Project.
While maintaining a zealous focus on safety in a prolonged
pandemic, the team is still able to deploy rigs in the right places, set records for meters drilled per day
and add significantly to our understanding of the CGO West area,"
said Henri van Rooyen, CEO of
Talon Metals.
Of note, drill hole 21TK0355 intercepted
15.08 meters of mixed and massive nickel and copper
mineralization
, beginning at only 202.86 meters depth. This occurrence is a 50-meter step-out from
previous drill hole 21TK0348, which intersected 13.77 meters of massive nickel-copper mineralization
and is open along trend. The intercept in drill hole 21TK0355 is deeper than the large sheet of nickel and
copper mineralization previously reported nearby, suggesting that another layer of massive
mineralization may be present at this location (See Figure 2). Drilling in 2022 will further investigate this
potential.
Additional significant drill core intervals reported today (with assays pending) are as follows:
Drill hole 21TK0348 intercepted
13.77 meters
of mixed and massive nickel and copper
mineralization, beginning at 250.24 meters depth;
Drill hole 21TK0350 intercepted
13.25 meters
of mixed and massive nickel and copper
mineralization, beginning at 245.69 meters depth;
Drill hole 21TK0354 intercepted
4.22 meters
of mixed and massive nickel and copper
mineralization, beginning at 198.53 meters depth;
Drill hole 21TK0357 intercepted
3.9 meters
of mixed and massive nickel and copper
mineralization, beginning at 172.44 meters depth;
Drill hole 21TK0360 intercepted
14.05 meters
of mixed and massive nickel and copper
mineralization, beginning at 242.09 meters depth; and
Drill hole 21TK0368 intercepted
4.53
meters
of mixed and massive nickel and copper
mineralization, beginning at 188.6 meters depth.
Further, disseminated nickel and copper mineralization is located above the massive and mixed
massive sulphides in the Coarse-grained Orthocumulate (CGO) and Mixed Zone (MZNO) rock types.
See Table 2 for depth and width details (assays pending).
The massive mineralization sheet within the
CGO West area is open to the north, to the southwest, and at depth, so 2022 drilling will focus on these
areas.
Figure 2: Plan view geological map of the northern portion of the Tamarack Nickel Project
showing drill hole locations with nickel-copper mineralization intervals in the CGO West area
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2443/112233_01756ab52428b9bf_002full.jpg
Figure 3: Section A represents a portion of the CGO West area looking east showing the thick
intersections of nickel-copper mineralization
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2443/112233_01756ab52428b9bf_003full.jpg
Figure 4: Section B represents a portion of the CGO West area looking east showing the thick
intersections of nickel-copper mineralization
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/2443/112233_01756ab52428b9bf_004full.jpg
QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS
Please see the technical report entitled "NI 43-101 Technical Report Updated Preliminary Economic
Assessment (PEA) #3 of the Tamarack North Project - Tamarack, Minnesota" with an effective date of
January 8, 2021 prepared by independent "Qualified Persons" (as that term is defined in National
Instrument 43-101 (
"NI 43-101"
) Leslie Correia (Pr. Eng),
Andre-Francois Gravel (P. Eng.), Tim Fletcher
(P. Eng.), Daniel Gagnon (P. Eng.), David Ritchie (P. Eng.), Oliver Peters (P. Eng.), Volodymyr
Liskovych (P.Eng.), Andrea Martin (P. E.) and Brian Thomas (P. Geo.) for information on the QA/QC,
analytical and testing procedures 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 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 $3.00/$8.00 + Co% x $12.00/$8.00 + Pt
[g/t]/31.103 x $1,300/$8.00/22.04 + Pd [g/t]/31.103 x $700/$8.00/22.04 + Au [g/t]/31.103 x
$1,200/$8.00/22.04
Where used in this news release: CuEq% = Cu%+ Ni% x $8.00/$3.00 + Co% x $12.00/$3.00 + Pt
[g/t]/31.103 x $1,300/$3.00/22.04 + Pd [g/t]/31.103 x $700/$3.00/22.04 + Au [g/t]/31.103 x
$1,200/$3.00/22.04
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
/
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 the timing and
results of the exploration program, including assay results, grades, potential mineralization, geophysical
results and drilling 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 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 New Drill Holes Referred to in this Press Release
HOLEID
Easting
(m)
Northing
(m)
Elevation
(masl)
Azimuth
Dip
End Depth
(m)
21TK0322
491077.7
5169039.6
388.6
324.4
-64.6
274.3
21TK0326
491077.3
5169040.1
388.5
347.4
-59.3
230.3
21TK0327
491077.1
5169039.7
388.5
21.1
-66.2
231.1
21TK0328
491076.8
5169039.9
388.5
342.1
-68.8
231.7
21TK0337
491010.1
5168962.6
388.0
32.6
-58.7
328.0
21TK0338
491143.6
5169174.8
388.0
241.4
-75.8
209.7
21TK0339
491143.2
5169173.9
388.0
290.0
-66.0
228.6
21TK0340
491009.1
5168962.1
388.0
330.8
-62.3
446.2
21TK0341
491143.5
5169173.9
388.0
261.5
-79.0
203.3
21TK0342
491009.2
5168962.8
388.0
5.5
-61.0
321.6
21TK0344
491142.8
5169174.4
388.0
324.0
-71.8
209.7
21TK0345
491142.9
5169174.9
388.0
345.9
-59.6
195.4
21TK0347
491143.2
5169173.6
388.0
125.2
-85.0
212.8
21TK0348
490988.9
5168993.9
388.0
42.3
-58.7
298.1
21TK0349
491142.9
5169167.3
388.0
295.0
-74.0
203.6
21TK0350
490988.7
5168994.0
388.0
35.3
-60.6
285.6
21TK0351
491136.5
5169179.7
388.0
220.3
-62.6
218.9
21TK0353
490988.7
5168993.9
388.0
21.0
-60.9
280.3
21TK0354
491137.2
5169179.4
388.0
212.4
-63.2
517.6
21TK0355
491137.4
5169179.4
388.0
192.4
-69.4
257.4
21TK0356
490988.5
5168993.9
388.0
8.2
-61.8
294.7
21TK0357
491137.1
5169179.5
388.0
211.3
-77.0
279.8
21TK0360
490988.5
5168994.0
388.0
16.3
-61.3
297.3
21TK0361
491134.5
5169165.5
388.0
347.7
-50.9
224.3
21TK0362
491134.6
5169164.5
388.0
13.2
-64.4
206.7
21TK0365
491066.9
5169120.7
388.0
132.5
-77.5
285.9
21TK0368
491066.3
5169120.8
388
135.1
-80.1
285.9
21TK0369
491020.6
5169142.7
388
269.9
-77.9
224.0
21TK0371
491022.0
5169143.1
388
340.6
-78.7
228.0
21TK0373
491022.4
5169141.9
388
20.6
-68.9
224.0
21TK0374
491021.7
5169140.4
388
293.4
-75.6
228.0
Collar coordinates are UTM Zone 15N, NAD83
Azimuths and dips are taken from survey record at collar unless otherwise noted
TABLE 2: Quick Lithology Log for New Drill Holes in the CGO West Area
HOLEID
From
(m)
To (m)
Length
Quick Log
%
Sulphides
21TK0322
0
51.49
OB
51.49
184.42
FGO/MZNO
Traces
184.42
190.86
CGO
1-4%
190.86
191.41
0.55
CGO
8%
191.41
200.73
CGO
Tr-1%
200.73
201.04
0.31
SMSU
30%
201.04
203
CGO
Traces
203
274.32
SED
Tr-5%
21TK0327
0
44.5
OB
44.5
172.44
FGO/MZNO
Tr-3%
172.44
179.22
6.78
CGO
5%
179.22
200.76
CGO
Tr-3%
200.76
231.04
SED
21TK0328
0
45.1
OB
45.1
180.78
FGO/MZNO
Traces
180.78
189.73
CGO
3%
189.73
190.96
1.23
MZNO
5%
190.96
191.66
SED
191.66
192.79
1.13
MMS
40%
192.79
194.6
MZNO
3%
194.6
195.12
0.52
MMS
15%
195.12
197.21
2.09
MZNO
5%
197.21
199.08
1.87
MMS
40%
199.08
228.6
SED
21TK0337
0
42.06
OB
42.06
203.61
FGO
Traces
203.61
242.1
38.49
CGO
8%
242.1
289.31
CGO
Tr-4%
289.31
327.96
SED
21TK0338
0
51.55
OB
51.55
173.88
FGO/MZNO
tr-4%
173.88
174.69
0.81
MMS
30%
174.69
209.7
SED
21TK0339
0
54.6
OB
54.6
135.1
FGO/MZNO
Traces
135.1
157.89
22.79
FGO/MZNO
5-7%
157.89
188.45
FGO/MZNO
1-3%
188.45
189.89
1.44
MMS/MSU
10-85%
190.36
228.6
SED
0.1
21TK0340
0
45.11
OB
45.11
105.61
FGO/MZNO
tr-3%
228.64
239.64
CGO
tr-3%
239.64
247.91
8.27
CGO
5
247.91
272.77
CGO
Traces
272.77
301.41
28.64
CGO
5-10%
301.41
347.38
CGO
tr-3%
347.38
446.23
SED
21TK0341
0
78.95
OB
78.95
145.89
FGO/MZNO
tr-4%
145.89
154.98
9.09
MZNO
5%
154.98
164.79
MZNO
2%
164.79
165.37
0.58
MZNO
5%
165.37
167.63
2.26
MMS/MSU
35-90%
167.63
203.3
SED
21TK0342
0
42.06
OB
42.06
206
FGO/MZNO
Traces
206
282.9
CGO
Traces
282.9
283.05
0.15
SED
5%
283.05
321.56
SED
21TK0344
0
60.35
OB
60.35
166.6
FGO/MZNO
tr-3%
166.6
167.41
0.81
MMS
60%
167.41
209.7
SED
21TK0345
0
60.92
OB
0
60.92
171.42
FGO/MZNO
tr-2%
171.42
174.95
3.53
MMS/MSU
25%
174.95
195.38
SED
21TK0347
0
48.16
OB
48.16
144.3
FGO/MZNO
tr-1%
144.3
154.7
10.4
CGO
5%
154.7
173.67
CGO
Traces
173.67
176.98
3.31
MZNO
6%
176.98
180.73
CGO
Traces
180.73
212.75
SED
21TK0348
0
42.23
OB
42.23
203.2
FGO/MZNO
tr-1%
203.2
227.29
24.09
CGO
6%
227.29
250.24
CGO
1%
250.24
264.01
13.77
MMS/MSU
15-85%
264.01
298.09
SED
Traces
21TK0349
0
52.3
OB
52.3
165.42
FGO/MZNO
tr-3%
165.42
167.65
2.23
MMS
10-80%
167.65
203.61
SED
0
42.14
OB
42.14
199.07
FGO
Traces
199.07
223.33
24.26
CGO
5-20%
223.33
229.03
CGO
3%
229.03
231.17
2.14
SMSU
30%
HOLEID
From
(m)
To (m)
Length
Quick Log
%
Sulphides
21TK0350
231.17
236.93
CGO
Traces
236.93
237.35
0.42
CGO
15%
237.35
245.69
CGO
Traces
245.69
252.39
6.7
MMS
45-80%
252.39
253.14
0.75
SED
4%
253.14
257.98
4.84
MMS
40-60%
257.98
258.58
0.6
SED
1%
258.58
258.94
0.36
MMS
15%
258.94
285.6
SED
Traces
21TK0351
0
54.25
OB
54.25
197.9
FGO/MZNO
tr-3%
197.9
198.99
1.09
MMS/MSU
30%
198.99
218.85
SED
Traces
21TK0353
0
44.5
OB
44.5
199.17
FGO
Traces
199.17
208
CGO
3%
208
208.42
0.42
CGO
15%
208.42
211.54
CGO
3%
211.54
211.84
0.3
SMSU
30%
211.84
214.3
2.46
CGO
5-20%
214.3
218.54
CGO
1%
218.54
221.59
3.05
CGO
5%
221.59
233.02
CGO
Traces
233.02
233.19
0.17
MMS/MSU
10%
233.19
280.26
SED
21TK0354
0
52.43
OB
52.43
191.95
FGO/MZNO
tr-2%
191.95
198.53
6.58
FGO/MZNO
5%
198.53
202.75
4.22
MMS/MSU
30%
202.75
377.34
SED
Traces
377.34
517.55
CGO
Traces
21TK0355
0
51.36
OB
0
51.36
168.26
FGO/MZNO
tr-4%
168.26
170.99
2.73
CGO
5
170.99
188.94
CGO
Traces
188.94
202.86
SED
Traces
202.86
204.8
1.94
MMS
60%
204.8
206.04
1.24
SED
Traces
206.04
207.29
1.25
MMS
60%
207.29
208.55
1.26
SED
2%
208.55
208.61
0.06
CGO
1%
208.61
217.94
9.33
MMS/MSU
35-90%
217.94
252.37
SED
21TK0356
0
42.26
OB
42.26
202.26
FGO/MZNO
Traces
202.26
220.15
17.89
CGO
5%
220.15
254.81
CGO
tr-2%
254.81
294.74
SED
21TK0357
0
54.37
OB
54.37
172.44
FGO/MZNO
tr-3%
172.44
176.34
3.9
MMS/MSU
10-85%
176.34
279.81
SED
21TK0360
0
43.1
OB
43.1
202.23
FGO/MZNO
tr-3%
202.23
214.63
12.4
CGO
5-10%
214.63
242.09
CGO
tr-4%
242.09
243.15
1.06
MMS
25%
243.15
246.2
3.05
SED
5%
246.2
256.14
9.94
MMS/MSU
65-90%
256.14
297.18
SED
21TK0361
0
63.25
OB
63.25
156.4
FGO/MZNO
tr-3%
156.4
163.14
6.74
FGO/MZNO
25-35%
163.14
169.94
FGO/MZNO
3%
169.94
170.96
1.02
MMS/MSU
85%
170.96
192.9
FGO/MZNO
2-3%
192.9
194.82
1.92
MMS/MSU
15%
194.82
224.33
SED
21TK0362
0
54.55
OB
54.55
133.5
FGO/MZNO
tr-3%
133.5
150.27
16.77
MZNO
5-6%
150.27
156.26
MZNO
2%
156.26
158.19
1.93
MMS
60%
158.19
206.65
SED
0
55.94
OB
55.94
167.9
FGO/MZNO
Tr-1%
167.9
179.53
CGO
3%
HOLEID
From
(m)
To (m)
Length
Quick Log
%
Sulphides