US EV Battery Supply Chain: Talon Metals Hits 29.39 Meters Grading 2.21% Nickel Equivalent at the Tamarack Nickel Project Talon Announces Assay Results from 13 New Drill Holes
US EV Battery Supply Chain: Talon Metals Hits
29.39 Meters Grading 2.21% Nickel Equivalent
at the Tamarack Nickel Project
Talon Announces Assay Results from 13 New Drill Holes
Tamarack, Minnesota--(Newsfile Corp. - September 8, 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:
4.89 meters grading 5.30% Ni and 2.27% Cu (6.51% NiEq or 17.37% CuEq) at 204.77
meters in drill hole 21TK0369
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2443/136305_80ad5192a4e1abe6_001full.jpg
Today, Talon reports assays from fourteen (14) new drill holes in the CGO West area, located outside of
the Tamarack Nickel Project's main resource area.
Notable assay results include the following:
Drill hole
#
From
(m)
To
(m)
Length
Ni
(%)
Cu
(%)
Co
(%)
Pd
(g/t)
Pt
(g/t)
Au
(g/t)
NiEq
(%)
CuEq
(%)
21TK0368
178.71
193.15
14.44
1.74
0.83
0.05
0.12
0.19
0.11
2.21
5.90
including
188.73
193.15
4.42
3.68
1.69
0.11
0.20
0.26
0.13
4.60
12.26
21TK0369
180.27
209.66
29.39
1.71
0.98
0.05
0.10
0.14
0.10
2.21
5.90
including
204.77
209.66
4.89
5.30
2.27
0.15
0.22
0.27
0.19
6.51
17.37
22TK0383
142.35
150.82
8.47
1.35
0.85
0.03
0.20
0.30
0.16
1.85
4.93
22TK0396
204.53
213.36
8.83
3.66
1.16
0.10
0.25
0.33
0.11
4.38
11.68
including
209.16
213.36
4.20
6.70
1.97
0.19
0.49
0.62
0.19
7.96
21.24
Table 1: Notable Assay Results from New Drill Holes at the Tamarack Nickel Project
*See Table 3 for further technical information
"Today's announcement demonstrates that we continue to find more thick, high-grade nickel-copper
mineralization in the CGO West area, which is located outside of the Tamarack Nickel Project's
defined resource area. More specifically, drill hole 21TK0369 contains an extremely thick 29.39 meter
interval grading 1.71% Ni (2.21% NiEq). This represents one of the thickest intercepts encountered in
the CGO West area to date. The fact that this hole is located on the western edge of the CGO West
area highlights that CGO West continues to be open to the west. While we had intended to be finished
drilling in the CGO West area by now, the high-grade nickel-copper mineralization just seems to keep
going; therefore, we feel it is prudent to continue drilling within the CGO West area to further expand
our resource,"
said Brian Goldner, Talon Metals, Chief Exploration Officer.
Henri van Rooyen, CEO of Talon said:
"While drilling continues in both the CGO West and Main Zone
(the Tamarack Nickel Project's defined resource area) to further expand the Company's resource, our
ongoing work towards a feasibility study continues, with the goal of first production in 2026."
Mr. van Rooyen continued:
"In addition, we recently deployed two additional drill rigs into the 264 Zone
(3 km north of the Company's resource area) and into the 221 Zone (1 km north of the Company's
Resource area) to follow-up on various geophysical anomalies to identify potential satellite high-grade
nickel-copper deposits.
We will provide updates once we have results from these exciting new targets."
Figure 2. Plan view geological map of the northern portion of the Tamarack Nickel Project
(CGO West area) showing the new drill holes (assays) in red
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/2443/136305_80ad5192a4e1abe6_002full.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)
21TK0298
491113.1
5169255.0
388.5
241.9
-72.4
203.3
21TK0314
491068.6
5169035.7
388.4
11.8
-55.5
236.4
21TK0321
491077.7
5169040.0
388.5
21.7
-55.1
224.9
21TK0338
491143.6
5169174.8
388.0
241.4
-75.8
209.7
21TK0347
491143.2
5169173.6
388.0
125.2
-85.0
212.8
21TK0368
491066.3
5169120.8
388.0
135.1
-80.1
285.9
21TK0374
491021.7
5169140.4
388.0
293.4
-75.6
228.0
22TK0383
491153.9
5169303.9
388.0
260.1
-73.0
173.1
22TK0384
491108.2
5169253.7
388.6
320.0
-79.0
188.4
22TK0386
491153.9
5169304.6
388.0
123.0
-76.0
171.0
22TK0388
491023.6
5169140.9
388.6
30.0
-71.0
216.4
22TK0392
491148.7
5169168.0
388.6
288.0
-70.0
178.9
22TK0396
491114.7
5169075.6
388.7
336.9
-81.9
246.3
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
Ni
(%)
Cu
(%)
Co
(%)
Pd
(g/t)
Pt
(g/t)
Au
(g/t)
NiEq
(%)
CuEq
(%)
21TK0298
138.80
150.43
11.63
0.74
0.43
0.03
0.03
0.04
0.03
0.96
2.57
and
157.50
166.50
9.00
0.75
0.54
0.02
0.11
0.19
0.10
1.06
2.83
21TK0314
197.79
198.90
1.11
1.07
0.65
0.04
0.09
0.12
0.11
1.43
3.82
21TK0321
204.00
207.77
3.77
1.11
1.79
0.07
6.24
0.13
3.47
1.58
9.27
21TK0338
173.80
174.76
0.96
2.80
0.78
0.07
0.26
0.46
0.18
3.39
9.03
21TK0347
152.00
157.00
5.00
0.69
0.44
0.02
0.11
0.19
0.12
0.97
2.59
and
174.31
176.57
2.26
1.45
0.32
0.04
0.09
0.12
0.04
1.69
4.51
21TK0368
178.71
193.15
14.44
1.74
0.83
0.05
0.12
0.19
0.11
2.21
5.90
including
188.73
193.15
4.42
3.68
1.69
0.11
0.20
0.26
0.13
4.60
12.26
21TK0369
180.27
209.66
29.39
1.71
0.98
0.05
0.10
0.14
0.10
2.21
5.90
including
204.77
209.66
4.89
5.30
2.27
0.15
0.22
0.27
0.19
6.51
17.37
21TK0374
175.25
188.75
13.50
0.64
0.42
0.02
0.04
0.06
0.06
0.86
2.29
22TK0383
142.35
150.82
8.47
1.35
0.85
0.03
0.20
0.30
0.16
1.85
4.93
22TK0384
121.06
132.50
11.44
0.96
0.88
0.03
0.04
0.05
0.04
1.37
3.64
and
136.09
165.34
29.25
0.81
0.65
0.02
0.14
0.24
0.13
1.20
3.19
22TK0386
121.31
128.77
7.46
1.03
0.46
0.03
0.12
0.21
0.06
1.33
3.54
and
137.56
138.06
0.50
1.76
1.17
0.06
0.42
0.38
0.26
2.48
6.63
and
141.75
143.09
1.34
3.33
1.72
0.10
0.28
0.37
0.10
4.27
11.39
22TK0388
158.50
167.50
9.00
0.51
0.32
0.02
0.04
0.05
0.04
0.69
1.83
and
179.93
190.77
10.84
1.49
0.72
0.04
0.13
0.21
0.14
1.93
5.13
including
187.79
190.77
2.98
3.71
1.34
0.11
0.20
0.31
0.20
4.52
12.05
22TK0392
149.00
165.59
16.59
0.67
0.44
0.02
0.05
0.07
0.06
0.90
2.40
and
170.41
171.60
1.19
5.54
2.26
0.17
0.44
0.34
0.29
6.85
18.26
22TK0396
158.94
169.50
10.56
0.57
0.32
0.02
0.28
0.53
0.18
0.92
2.44
and
204.53
213.36
8.83
3.66
1.16
0.10
0.25
0.33
0.11
4.38
11.68
including
209.16
213.36
4.20
6.70
1.97
0.19
0.49
0.62
0.19
7.96
21.24
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.
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
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
or
contact:
Media Contact:
Investor Contact:
Todd Malan
1 (202) 714-8187
Sean Werger
1 (416) 361-9636 x102
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 mineralization, assay results, grades, geophysical results
and drilling plans; the timing and extent of an expansion of the resource at the Tamarack Nickel Project;
the timing and results of a feasibility study; and the goal of first production in 2026.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/136305