Near resource upside
264 Zone
The 264 Zone remains underexplored with an area of 2km by 4km and very little exploration work completed.
Hole 18TK0264 was a new discovery with a similar geological setting as the Tamarack Resource area.
The 264 Zone will be explored as part of the present resource expansion program. The work will consist of a surface geophysical program to identify the continuity of the mineralization, identify a new sizeable anomaly and to identify new areas to be drilled subsequently.
Plan view map of the 264 Zone, located 3.5 km to the north of the Tamarack Resource Area. The map shows the location of the last drill holes in the area, drill hole18TK0264, and location of the borehole EM anomaly. The area is open with large portion not explored.
Raptor Zone
Brian Goldner, Chief Exploration and Operations Officer of Talon said: “New drilling show us that the Tamarack Intrusive Complex can be a district scale nickel resource right here in the United States. We’ve moved nearly 2 miles outside of the Company’s nickel-copper resource area and successfully intercepted high-grade nickel-copper in a different intrusion (new system) as compared to the resource area. While still early in the process of making a new economic discovery, these preliminary results provide definitive evidence that the Tamarack Intrusive Complex has district-scale potential, and as a consequence of these exciting initial results, we intend to make further exploration along the Tamarack Intrusive Complex a priority for us in 2023.”
Neck Area
The Neck represents 4km of strike length. It has received little exploration with some sporadic drilling in 2015 and 2016. Previous drilling was successful with 1.1m of 2.55% Ni and 4.32% Cu in hole 16TK0263 starting at 1044.45m (see the Company’s press release dated November 21, 2016).
Future work will consist of completing a surface and borehole EM survey to identify a potential target of size.
The Company remains committed to working in this area as soon as possible, as it has great geological potential being at the mouth of a large magma chamber, the “Bowl Intrusion”.
Reading: Naldrett, A. World-class Ni-Cu-PGE deposits: key factors in their genesis. Mineral Deposits 34, 227-240 (1999).
Plan view map of the Neck Area, located 3.5 km to the south of the Tamarack Resource Area. The map shows the location of the historical drill holes in the area and location of the interpreted borehole EM anomaly. The area is open with a large portion not explored.
164 Zone
The 164 Zone was the subject of a surface EM survey during the Winter 2020 Program. The program enabled the Company to calibrate the survey on the known mineralization within the Company’s resource area. The survey identified a string of conductors over a distance of 1km (see the Company’s press release dated May 26, 2020). The conductors were identified every 200m on separate survey lines and coincided with the location of the sulphide mineralization in drill hole 12TK0164.
The present exploration resource expansion program will consist of increasing the resolution of the data to prepare for drilling.
EXPLORATION TARGET
Plan view map of the Tamarack Resource Area and the 164 Zone (1 km south of the resource area) showing the location of the Surface EM survey. The solid red line shows the location of the interpreted conductive EM anomalies
“Under” Tamarack Resource area
The Company also plans to drill a highly conductive anomaly that sits directly below the main zone resource area.
Brian Goldner, Chief Exploration and Operations Officer of Talon said: “Over the last two years, our in-house drilling and geology teams have gone to the next level in terms of targeting and successfully hitting high-grade nickel-copper zones at the Tamarack Nickel Project. Based on last year’s metrics alone, we increased our hit ratio from 50% to 95%, and drilled a record 33,000 meters while intersecting a record amount of high-grade massive sulphides. With these new rigs, we plan to exceed the past milestones and hope to demonstrate that Minnesota has even more to contribute to the clean energy transition and serve as a domestic source of infinitely recyclable battery materials like nickel, copper, cobalt and iron.”
Cross-section panel of the Magneto-Telluric (MT) (geophysics) survey
Bowl Intrusion
News Release
TSX:TLO
Tamarack Nickel Project Selected for Climate Innovation Funding By US Department of Energy
Minnesota to host $6.2 million R&D project exploring carbon storage potential in Aitkin County
Tamarack, Minnesota (February 14, 2022) – Talon Metals Corp. (“Talon”) (TSX:TLO, OTC:TLOFF) is pleased to announce that the US Department of Energy has awarded US$2.2 million in R&D funding to explore the carbon storage potential at the Tamarack Nickel Project in central Minnesota. Talon’s joint venture partner Rio Tinto will lead a team of climate innovation and research leaders that will explore new approaches in carbon mineralization technology as a way to safely and permanently store carbon in solid rock form. Rio Tinto will contribute US$4 million in funding for the 3-year project, in addition to the funding from the Department of Energy’s ARPA-e Innovation Challenge.
Carbon mineralization uses natural chemical reactions to convert captured carbon dioxide (CO2) into rock and store it underground. It has the potential to be an important technology in meeting global climate goals and is now being used at large scale by the world’s leading carbon mineralization company Carbfix in Iceland. Initial studies have shown that the Tamarack Intrusive Complex has the potential to safely and permanently store hundreds of millions of tons of carbon.
The team at the Tamarack Nickel Project will include technical experts from the Department of Energy’s Pacific Northwest National Laboratory (PNNL) which has demonstrated carbon mineralization technology in Washington state; Columbia University and CarbFix. Talon, the majority owner and operator of the Tamarack Nickel Project, is contributing ore body knowledge and land access for scientific field work.
As project lead, Rio Tinto issued this detailed press release on behalf of the project partners: https://www.riotinto.com/news/releases/2022/DOE-backs-Rio-Tinto-led-team-to-explore-carbon-storage-at-Tamarack
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
malan@talonmetals.com
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 carbon mineralization technology as a way to safely and permanently store carbon in solid rock form, the potential for carbon mineralization technology to be an important technology in meeting global climate goals and the potential for the Tamarack Intrusive Complex to safely and permanently store hundreds of millions of tons of carbon. 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.