US EV Battery Supply Chain: Talon Metals Releases Record Length of High-Grade Nickel Mineralization at the Tamarack Nickel Project Talon to Complete In-fill Drilling for Pre-Feasibility Study this Month
US EV Battery Supply Chain: Talon Metals
Releases Record Length of High-Grade Nickel
Mineralization at the Tamarack Nickel Project
Talon to Complete In-fill Drilling for Pre-Feasibility Study this
Month
Tamarack, Minnesota--(Newsfile Corp. - May 18, 2022) - Talon Metals Corp. (TSX: TLO) (OTC Pink:
TLOFF) ("
Talon
" or the "
Company
") is providing an update on the Tamarack Nickel-Copper-Cobalt
Project ("
Tamarack Nickel Project
"), located in central Minnesota.
The Talon team reports an
additional 26 new drill holes
from within the main zone (resource area).
All of
the new drill holes reported today have intercepted nickel-copper mineralization, with assays pending.
Of
note, drill hole 22TK0380 set a
new record at the Tamarack Nickel Project, with 23.44 meters of
massive sulphide nickel and copper mineralization (assays pending).
Figure 1:
Record intercept of 23.44 meters at 453 meters depth in drill hole 22TK0380
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2443/124426_cd8bd78664cfaa2c_001full.jpg
Brian Goldner, Chief Exploration and Operations Officer of Talon, said:
"We continue to drill impressive
amounts of massive sulphide nickel mineralization. These results continue to demonstrate high
grades of nickel and copper mineralization within the main zone (resource area) at the Tamarack
Nickel Project.
We continue to see thick pooling of the high-grade massive sulphide with a record
intercept length of 23.44 meters."
Henri van Rooyen, CEO of Talon, said:
"With the Tesla supply agreement in hand, and the goal of first
production by 2026, the 4 drill rigs at site are now completely focused on infill drilling within the main
zone with the goal of upgrading the high-grade resource from the 'inferred' category to the 'indicated'
category.
We are on target to complete our infill program for our Pre-Feasibility Study by the end of
May, and then the rigs will be deployed outside the main zone with the goal of making new discoveries
at the Tamarack Nickel Project.
"
Figure 2. Plan view geological map of the main zone (Tamarack resource area).
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2443/124426_cd8bd78664cfaa2c_002full.jpg
Table 1: Collar Locations of New Drill Holes Referred to in this Press Release
Tamarack Resource Area
HOLE ID
Easting (m)
Northing (m)
Elevation (masl)
Azm
Dip
End Depth (m)
16TK0249A
490888.0
5168484.0
388.0
259.0
-83.4
587.7
16TK0249B
490888.0
5168484.0
388.0
259.6
-83.5
523.7
16TK0249C
490889.7
5168484.4
388.0
261.2
-84.1
483.6
20TK0274
490708.0
5168541.0
388.0
113.7
-78.5
72.0
20TK0275
490708.0
5168541.0
388.0
130.0
-78.0
26.8
20TK0276
490707.8
5168536.9
388.1
132.0
-78.6
534.5
21TK0279
490760.5
5168414.2
388.3
40.9
-84.6
535.2
21TK0324
490687.7
5168539.4
388.3
137.1
-72.0
579.4
21TK0346
490735.9
5168650.9
390.0
181.0
-87.4
479.5
21TK0346A
490737.0
5168650.0
388.0
178.3
-87.3
430.4
21TK0352
490701.9
5168743.0
390.5
16.6
-85.3
489.8
21TK0359
490702.4
5168742.2
390.4
153.5
-79.7
489.8
21TK0364
490770.5
5168676.5
390.0
9.3
-80.4
471.8
21TK0366
490987.7
5168994.8
388.4
274.2
-69.4
517.3
21TK0367
490770.4
5168673.0
390.2
31.5
-87.5
419.4
21TK0370
490736.6
5168651.3
390.1
162.3
-84.9
529.7
21TK0372
490764.9
5168688.7
389.9
154.8
-85.5
427.9
21TK0372A
490765.0
5168687.0
388.0
153.6
-85.5
477.6
21TK0375
490707.2
5168751.3
390.0
5.9
-81.6
450.2
21TK0376
490858.5
5168535.5
388.4
285.9
-83.3
535.8
21TK0377
490757.1
5168601.2
389.6
175.9
-86.9
493.2
21TK0378
490888.0
5168484.0
388.0
233.8
-81.7
553.7
21TK0379
490756.7
5168600.9
389.5
168.2
-81.6
498.7
21TK0380
490772.8
5168481.3
388.0
111.6
-85.5
506.0
22TK0381
490889.7
5168484.0
388.0
119.7
-73.9
654.4
22TK0382
490766.0
5168677.0
388.0
20.3
-88.8
474.9
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
Hole ID
From (m)
To (m)
Length (m)
Lithology
% Sulphides
16TK0249C
0
30
Overburden
30
374.44
FGO/MZNO
Tr-3%
374.44
442.96
CGO
1-3%
442.96
446.7
SED
446.7
458.22
11.52
MMS/MSU
>30%
458.22
469.53
SED
469.53
470.55
1.02
MMS/MSU
>10%
470.55
471.83
SED
471.83
483.57
CGO
21TK0346A
0
32
Overburden
32
379.64
FGO/MZNO
Tr-2%
379.64
392.66
CGO
Tr-2%
392.66
396.6
SED
396.6
399.82
3.22
MMS/MSU
>70%
399.82
430.38
CGO
21TK0352
0
33.03
Overburden
330.03
331.12
FGO/MZNO
Traces
331.12
339.53
8.41
CGO
5%
339.53
340.5
0.97
MMS/MSU
>25%
341.97
349.19
7.22
CGO
5-10%
349.19
354.07
4.88
MMS/MSU
>25%
354.07
489.81
CGO
21TK0359
0
33.32
Overburden
33.32
377.75
FGO/MZNO
Traces
377.75
378.64
0.89
MMS/MSU
>75%
378.64
385
FGO/MZNO
Tr-4%
385
387.48
SED
387.48
391.97
4.49
MMS/MSU
>65%
391.97
403.39
FGO/MZNO
403.39
428.54
CGO
Tr-3%
428.54
457.39
28.85
CGO
5-15%
457.39
489.81
CGO
0
29.87
Overburden
29.87
359
FGO/MZNO
Tr-5%
21TK0364
359
373.29
SED
373.29
377.58
4.29
MMS/MSU
50-85%
377.58
448.19
CGO
Tr-10%
448.19
471.83
SED
21TK0366
0
39.24
Overburden
39.24
265.4
FGO/MZNO
Traces
265.4
309.77
CGO
Traces
309.77
340.76
30.99
CGO
5-10%
340.76
361.94
CGO
2-4%
361.94
389.23
27.29
CGO
5-20%
389.23
512.03
CGO
512.03
517.25
SED
21TK0367
0
28.04
Overburden
28.04
364.85
FGO/MZNO
Traces
364.85
381.75
SED
381.75
394.04
12.29
MMS/MSU
10-80%
394.04
419.4
CGO
21TK0370
0
26.89
Overburden
26.89
386.49
FGO/MZNO
Traces
386.49
408.13
CGO
2-5%
408.13
481.03
72.9
CGO
10-40%
481.03
529.74
CGO
Tr-3%
21TK0372
0
30.28
Overburden
30.28
376.38
FGO/MZNO
Traces
376.38
395.78
SED
395.78
398.37
2.59
MMS/MSU
>40%
398.37
427.94
CGO
Tr-3%
21TK0372A
0
30.28
Overburden
30.28
369.81
FGO/MZNO
Traces
369.81
386.83
SED
386.83
395.63
8.8
MMS/MSU
25-85%
395.63
397.46
SED
397.46
477.62
CGO
Traces
21TK0376
0
33.47
Overburden
33.47
402.95
FGO/MZNO
Traces
402.95
435.19
CGO
Tr-4%
435.19
440.5
5.31
MMS/MSU
10-90%
440.5
535.84
CGO
Tr-4%
21TK0377
0
35.97
Overburden
35.97
412.09
FGO/MZNO
Tr-5%
412.09
412.39
0.3
MMS/MSU
60%
412.39
413.64
FGO/MZNO
413.64
420.63
SED
420.63
422.83
2.2
MMS/MSU
>25%
422.83
493.17
CGO
Tr-3%
21TK0378
0
29.94
Overburden
29.84
454.08
FGO/MZNO
Tr-2%
454.08
456.01
CGO
456.01
475.9
SED
475.9
490.29
14.39
MMS/MSU
25-80%
490.29
553.67
CGO
Hole ID
From (m)
To (m)
Length (m)
Lithology
% Sulphides
21TK0379
0
35.97
Overburden
35.97
418.96
FGO/MZNO
Traces
418.96
431.5
SED
431.5
432.21
0.71
MMS/MSU
20%
432.21
433.94
SED
433.94
434.94
1
MMS/MSU
15%
434.94
437.65
SED
437.65
438.38
0.73
MMS/MSU
15%
438.38
498.65
SED
21TK0380
0
31.38
Overburden
31.38
450.75
FGO/MZNO
Traces
450.75
453.73
SED
453.73
477.17
23.44
MMS/MSU
45-95%
477.17
475.39
SED
475.39
502.92
CGO
22TK0382
0
26.82
Overburden
26.82
349
FGO/MZNO
Traces
349
366.17
CGO
Tr-3%
366.17
376.16
FGO/MZNO
376.16
376.81
SED
376.81
378.05
1.24
MMS/MSU
>10%
378.05
390.66
CGO
Traces
390.66
391.26
SED
391.26
411.21
CGO
Traces
411.21
462.99
51.78
CGO
5-30%
462.99
474.88
CGO
16TK0249A
No significant sulphide mineralization (these holes were primarily planned holes for geophysical surveys)
16TK0249B
20TK0276
21TK0279
21TK0324
21TK0346
21TK0375
22TK0381
20TK0274
Hole abandoned in overburden
20TK0275
Hole ID
From (m)
To (m)
Length (m)
Lithology
% Sulphides
Quick lithology log of drill holes: Traces (Tr); Overburden (OB); Fine-grained Orthocumulate/Mixed Zone (FGO/MZNO); Mixed massive sulphides
(MMS); Massive sulphides (MSU); Meta-sedimentary rocks (SED); Coarse-grained Orthocumulate (CGO)
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
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, geophysical results, drilling plans and
the timing of completion of drilling for a pre-feasibility study; timing of production and plans for a potential
mine, including the attributes thereof; the timing of completing a pre-feasibility study (if at all) and results
thereof; and making new discoveries at the Tamarack Nickel Project.
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/124426