Talon reports assays from eight new drill holes in the CGO East area, located outside of the Tamarack Nickel Project’s main resource area. These new assays demonstrate high nickel and copper grades across a large area in the CGO East area with these holes testing an area approximately 700 meters long (north-south).
The assays also demonstrate significant thickness of the mineralized intervals. Notable assay results include drill hole 22TK0390 intersected 6.56 metres of nickel-copper mineralization grading 2.95% nickel, 1.01% copper (3.59% NiEq or 9.56% CuEq – copper equivalent) starting at a depth of 133.60 metres, including 2.53 metres of 3.77% nickel, 1.54% copper (4.66% NiEq or 12.44% CuEq) starting at a depth of 137.7 metres.
Drill hole 21TK0358 intersected 21.92 meters of nickel-copper mineralization grading 1.25% nickel, 0.61% copper (1.64% NiEq or 4.36% CuEq) starting at a depth of 245.3 metres, includes 2.93 metres of 5.65% nickel, 2.04% copper (6.88% NiEq or 18.36 CuEq) starting at a depth of 264.3 metres.
Drill hole 21TK0393 intersected 33.72 metres of nickel-copper mineralization grading 0.94% Ni, 0.66% Cu (1.37% NiEq or 3.64% CuEq) starting at a depth of 120 meters. Drill hole 21TK0395 intersected 31.1 meters of nickel-copper mineralization grading 0.82% nickel, 0.51% copper (1.15% NiEq or 3.08% CuEq) starting at a depth of 118.3 metres.
Notably, the assays demonstrate consistent high nickel and copper grades in the CGO East area.
“We are extremely pleased with the assay results announced today from the CGO East area, which represents one of the newly discovered mineralized areas outside of the Tamarack Nickel Project’s defined resource area,” said Brian Goldner, Chief Exploration and Operations Officer. “This new drilling has demonstrated over 600 meters of continuous high-grade nickel copper sulphide mineralization, with potential to extend an additional 200 meters to the north.”
Goldner continued: “By way of general exploration update, the company has now completed its infill drilling program, and has already deployed a drill rig well outside of the Tamarack Nickel Project’s defined resource area with the goal of trying to make a new discovery along the Tamarack Intrusive Complex.”
The CGO East target area is large, stretching over an area of 500 metres (east-west) by 900 metres (north-south) outside of the Tamarack Nickel Project’s resource area. Drilling has confirmed this area hosts wide sheets of shallow mineralization consistent with the previously reported drill hole results. The mixed and massive sulphide sheet of mineralization at the base of the intrusion contains high nickel and copper grades across a large area.
These new assays results, combined with results of historical drill holes in the CGO East area, confirm a continuous strike length of high-grade nickel-copper mineralization for over 600 meters long in the north-south direction.
From south to north drill holes 20TK0271 to 22TK0393 demonstrate over 600 metres of continuous high-grade nickel-copper sulphide mineralization with the potential to extend an additional 200 metres to the north.
The central portion of the CGO East area appears to be a good indication of the potential width of the combined sheets of mineralization: Drill hole 21TK0304 intersected 11.59 metres of 1.31% nickel, 0.85% copper, 0.03% cobalt, 0.19 g/t palladium, 0.40 g/t platinum, 0.29 g/t gold (1.87% NiEq or 4.98% CuEq) starting at 237 metres. Drill hole 21TK0305 intersected 17.95 metres of 0.7% Ni, 0.44% Cu, 0.02% Co, 0.05g/t Pd, 0.12g/t Pt and 0.12g/t Au (0.96% NiEq or 2.55% CuEq) starting 191.85 metres.
In addition, two drill holes discussed in this press release were targeting a lateral step-out to CGO east and both holes intersected high-grade nickel-copper mineralization, and demonstrate that the overall width has increased to 50 metres: Drill hole 22TK0391 intersected 10.6 metres of 1.05% Ni, 0.57% Cu, 0.03% Co, 0.08 g/t Pd, 0.17g/t Pt, 0.29.16g/t Au (1.40% NiEq or 3.74% CuEq) starting at 198.69 metres. Drill Hole 22TK0394 intersected 10.09 metres of 1.12% Ni, 0.51% Cu, 0.04% Co, 0.07g/t Pd, 0.11g/t Pt and 0.12g/t Au (1.43% NiEq or 3.81% CuEq) starting 205.16 metres
The distance from drill holes 21TK0304 to 21TK0305 is 70 to 80 metres and is currently the widest extent of mineralization (east to west) defined in the CGO East area. The Tamarack Nickel Project comprises a large land position (18 km of strike length) with high-grade intercepts outside the current resource area. Talon is in a joint venture with Rio Tinto PLC [RIO-NYSE, ASX, LSE] and can earn up to 60% of the Tamarack Nickel Project and currently owns 51%.
Talon has an agreement with Tesla Inc. [TSLA-NASDAQ] 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.