Talon Metals Corp. [TLO-TSX] has successfully completed its winter 2020 exploration program at the Tamarack nickel-copper-cobalt project, located in Minnesota, United States. The Tamarack Project comprises the Tamarack North Project and the Tamarack South Project which is locates adjacent to the town of Tamarack, 85 km west of Duluth, Minnesota, USA.
Highlights from Drill Program:
Six of 8 holes intersected massive sulphides or mixed massive sulphides and intersected a total of 38 metres (125 feet) of mixed and massive sulphides in 6 holes. Intersections included an additional total of 363 metres (1,190 feet) of disseminated sulphides in 3 holes.
First assays received: 11.36 metres (37.3 feet) of 7.1% nickel, 2.98% copper, 0.14% cobalt, 1.11 g/t platinum group elements (PGEs) and 0.16 g/t gold (8.67% NiEq or 23.11% CuEq) starting at 555.05 metres in drill hole 12TK0153A. Assays remain pending for the other 7 drill holes.
The exploration program was executed under budget, as historical parent drill holes were used to branch off to drill targets at depth. Drill targets (which were more than 500 metres below surface) were hit with precision using directional drilling, thereby reducing the environmental footprint. Deviation from drill targets ranged from 38 cm to 3 metres.
“One of the exciting results from the 2020 Winter Exploration Program is that we now have much higher confidence in the Massive Sulphide Unit, which is the highest grading mineralization found at the Tamarack Project,” said Etienne Dinel, VP Geology.
“Due to the fact that Talon came in approximately $350,000 under budget, Talon now finds itself in a solid cash position, with approximately $2.5 million currently in the bank,” said Vince Conte, CFO of Talon. “This cash position is especially important given market conditions amidst COVID-19.”
“The Winter 2020 Exploration Program was one of the most successful and cost-effective exploration programs at Tamarack,” said Henri van Rooyen, CEO of Talon. “Not only did we achieve our objective of increasing confidence in the resource, but we also successfully tested a suite of geophysical techniques, which together with geological interpretation and effective directional drilling, has the potential to unlock the mostly unexplored 18-kilometer Tamarack Intrusive Complex at a fraction of the cost and time previously envisioned.”
The company is awaiting the remaining assay results when received and plans to provide a further update on the suite of geophysical techniques utilized during the Winter 2020 Exploration Program, along with the positive potential implications for the Tamarack Project.
Talon is in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project, comprised of the Tamarack North Project and the Tamarack South Project. Talon can earn up to 60% of the Tamarack Project. The Tamarack Project comprises a large land position (18 km of strike length) with numerous high-grade intercepts outside of the current resource area. The company is focussed on expanding its current high-grade nickel mineralization resource prepared in accordance with NI 43-101; identifying additional high-grade nickel mineralization; and developing a process to potentially produce nickel sulphates responsibly for batteries for the electric vehicles industry.