US EV Battery Supply Chain: Talon Metals Announces Numerous High-Grade Nickel- Copper Intercepts Outside Main Resource Area at Tamarack Nickel Project Intercepts include 15.09 meters grading 5.96% nickel equivalent starting at 202.87 meters
US EV Battery Supply Chain: Talon Metals
Announces Numerous High-Grade Nickel-
Copper Intercepts Outside Main Resource
Area at Tamarack Nickel Project
Intercepts include 15.09 meters grading 5.96% nickel
equivalent starting at 202.87 meters
Tamarack, Minnesota--(Newsfile Corp. - March 23, 2022) - Talon Metals Corp. (TSX: TLO) OTC Pink:
TLOFF) ("
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:
15.09 meters grading 4.88% Ni and 1.68% Cu (5.96% NiEq)
at 202.87 meters in drill hole
21TK0355
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2443/117689_2bcc28fd94655809_001full.jpg
New assay results from drilling outside the main resource area of the Tamarack Nickel Project (CGO
West area) continue to demonstrate shallow high-grade nickel-copper mineralization.
Notable assay results include the following:
Drill hole
#
From
(m)
To
(m)
Length
(m)
Ni
(%)
Cu
(%)
Co
(%)
Pd
(g/t)
Pt
(g/t)
Au
(g/t)
NiEq
(%)
CuEq
(%)
21TK0355
202.87
217.96
15.09
4.88
1.68
0.12
0.48
0.69
0.16
5.96
15.89
21TK0348
250.25
263.44
13.19
5.41
2.29
0.12
0.55
0.71
0.26
6.75
18.00
21TK0339
152.35
157.89
5.54
1.52
1.05
0.05
0.08
0.12
0.11
2.05
5.46
21TK0341
165.53
169
3.47
2.73
0.90
0.10
0.13
0.17
0.09
3.29
8.77
21TK0345
170.88
174.93
4.05
3.05
1.35
0.08
0.22
0.34
0.13
3.81
10.16
21TK0361
157.08
162.27
5.19
1.37
0.88
0.04
0.06
0.08
0.10
1.82
4.85
and
169.99
172.52
2.53
2.06
1.20
0.05
0.14
0.21
0.07
2.67
7.12
and
192.97
194.91
1.94
1.69
0.77
0.06
0.13
0.18
0.06
2.14
5.70
Table 1: Highlighted Assay Results from New Drill Holes at the Tamarack Nickel Project
*See Table 3 for further technical information
"Given Talon's recent off-take announcement with Tesla, we are continuing to progress drilling rapidly
at
the Tamarack Nickel Project, with the goal of completing the necessary feasibility studies,"
said
Brian Goldner, Chief Exploration and Operating Officer for Talon
.
"Today's announcement further
confirms the
high-grade nature of our deposit and that the project continues to expand as we drill."
Highlights:
New Assays from 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 where drilling shows the
presence of shallow, high-grade nickel-copper mineralization.
The thick intersections of mixed and
massive sulphides are found at the base of the overlying Fine-grained Orthocumulate (
"FGO"
) and
Coarse-grained Orthocumulate (
"CGO"
) intrusions.
Drilling outside the pool of massive sulphides
within the CGO West area
intersected thick, high-
grade nickel-copper mineralization
, suggesting that the high-grade mineralization expands to the
east (see Figure 2):
Drill hole 21TK0355: 15.09 meters grading 4.88% Ni and 1.68% Cu (5.96% NiEq
1
, 15.89%
CuEq
2
).
The results from
several drill holes suggest that the high-grade nickel-copper mineralization
within
the CGO West Area
extends to the north
(see Figure 2).
Drill hole 21TK0339: 5.54 meters grading 1.52% Ni and 1.05% Cu (2.05% NiEq, 5.46%
CuEq) at 152.35 meters;
Drill hole 21TK0341: 3.47 meters grading 2.73% Ni and 0.9% Cu (3.29% NiEq, 8.77%
CuEq) at 165.53 meters;
Drill hole 21TK0345: 4.05 meters grading 3.05% Ni and 1.35% Cu (3.81% NiEq, 10.16%
CuEq) at 170.88 meters; and
Drill hole 21TK0361: 5.19 meters grading 1.37% Ni and 0.88 Cu% (1.82% NiEq, 4.85%
CuEq) at 157.08 meters, and an additional 2.53 meters grading 2.06% Ni and 1.2% Cu
(2.67% NiEq, 7.12% CuEq) at 169.99 meters, and an additional 1.94 meters grading 1.69%
Ni and 0.77% Cu (2.14% NiEq, 5.7% CuEq) at 192.97 meters.
Drill results continue to demonstrate the consistency of the high-grade nickel-copper mineralization
within the pool of massive sulphides in the CGO West Area (see Figure 2):
Drill hole 21TK0348: 13.19 meters grading 5.41% Ni and 2.29% Cu (6.75% NiEq, 18.0%
CuEq) at 250.25 meters.
Figure 2. Plan view geological map of the northern portion of the Tamarack Nickel Project
(CGO West area) showing the new drill holes in red
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2443/117689_2bcc28fd94655809_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/2443/117689_2bcc28fd94655809_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/2443/117689_2bcc28fd94655809_004full.jpg
Table 2: Collar Locations of New Drill Holes Referred to in this Press Release
Drill Hole
#
Easting
(m)
Northing
(m)
Elevation
(masl)
Azimuth
Dip
End
Depth
(m)
21TK0319
491077.29
5169038.73
388.4
307.3
-65
292.61
21TK0327
491077.1
5169039.7
388.5
21.1
-66
231.10
21TK0328
491076.8
5169039.9
388.5
342.1
-69
231.65
21TK0339
491143.2
5169173.9
388.0
290.0
-66
228.60
21TK0340
491009.1
5168962.1
388.0
330.8
-62
446.23
21TK0341
491143.5
5169173.9
388.0
261.5
-79
203.30
21TK0344
491142.8
5169174.4
388.0
324.0
-72
209.70
21TK0345
491142.87
5169174.88
388.0
345.9
-60
195.38
21TK0348
490988.92
5168993.91
388.0
42.3
-59
298.09
21TK0355
491137.35
5169179.35
388.0
192.4
-69
257.37
21TK0361
491134.47
5169165.54
388.0
347.7
-51
224.33
Collar coordinates are UTM Zone 15N, NAD83
Azimuths and dips are taken from survey record at collar unless otherwise noted
Table 3: Assay Results of New Drill Holes Referred to in this Press Release
Drill
hole #
From
(m)
To
(m)
Length
(m)
Ni
(%)
Cu
(%)
Co
(%)
Pd
(g/t)
Pt
(g/t)
Au
(g/t)
NiEq
(%)
CuEq
(%)
21TK0319
191.3
194.26
2.96
0.45
0.22
0.01
0.09
0.17
0.07
0.62
1.65
and
199.34
208.52
9.18
1.39
0.71
0.04
0.14
0.22
0.10
1.80
4.80
and
222.72
223.68
0.96
2.73
1.92
0.07
0.76
1.58
0.18
4.06
10.83
21TK0327
172.48
176.84
4.36
0.57
0.35
0.02
0.13
0.25
0.12
0.84
2.23
21TK0328
180.78
183.13
2.35
0.62
0.39
0.02
0.09
0.17
0.11
0.87
2.31
and
186.35
199.08
12.73
1.27
0.55
0.05
0.10
0.16
0.08
1.62
4.31
21TK0339
137.5
162.5
25.00
0.90
0.65
0.03
0.05
0.08
0.09
1.23
3.29
including
152.35
157.89
5.54
1.52
1.05
0.05
0.08
0.12
0.11
2.05
5.46
and
176.87
178.13
1.26
0.738
1.19
0.03
0.05
0.07
0.12
1.27
3.40
21TK0340
239.53
247
7.47
0.69
0.38
0.02
0.05
0.12
0.10
0.92
2.46
and
271.66
302.8
31.14
0.76
0.46
0.02
0.06
0.10
0.07
1.01
2.70
21TK0341
165.53
169
3.47
2.73
0.90
0.10
0.13
0.17
0.09
3.29
8.77
including
165.53
167.64
2.11
4.11
1.39
0.14
0.19
0.26
0.13
4.96
13.23
21TK0344
143.86
146
2.14
0.54
0.35
0.02
0.03
0.06
0.05
0.73
1.93
21TK0345
170.88
174.93
4.05
3.05
1.35
0.08
0.22
0.34
0.13
3.81
10.16
21TK0348
250.25
263.44
13.19
5.41
2.29
0.12
0.55
0.71
0.26
6.75
18.00
21TK0355
202.87
217.96
15.09
4.88
1.68
0.12
0.48
0.69
0.16
5.96
15.89
including
202.87
207.31
4.44
3.43
1.51
0.08
0.32
0.35
0.15
4.28
11.41
including
208.61
217.96
9.35
6.24
1.98
0.16
0.63
0.94
0.19
7.56
20.16
21TK0361
157.08
162.27
5.19
1.37
0.88
0.04
0.06
0.08
0.10
1.82
4.85
and
169.99
172.52
2.53
2.06
1.20
0.05
0.14
0.21
0.07
2.67
7.12
and
192.97
194.91
1.94
1.69
0.77
0.06
0.13
0.18
0.06
2.14
5.70
Length refers to drill hole length and not True Width.
True Width is unknown at the time of publication.
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).
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
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
No adjustments were made for recovery or payability.
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.
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 the potential expansion of mineralization, and the
completion of necessary feasibility studies.
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.
1
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
2
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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/117689