ROAD TOWN, BRITISH VIRGIN ISLANDS–(Marketwired – September 02, 2016) – Talon Metals Corp. (“Talon” or the “Company“) (TSX: TLO) is pleased to provide an update on the Tamarack Nickel-Copper-PGE project (“Tamarack Project“),
located in Minnesota, USA. The Tamarack Project comprises the Tamarack
North Project and the Tamarack South Project. Talon owns an 18.45%
interest in the Tamarack Project.
Results from drill hole 16TK0233A, indicating potential connectivity of the MSU in the Tamarack Zone to MSU below the 138 Zone
Drill hole 16TK0233A intercepted 9.00
meters of Massive and Mixed Massive Sulphides (“MMS”), grading 4.94%
nickel (“Ni”), 2.08% copper (“Cu”) 1.00 g/t PGE’s and 0.24 g/t gold
(“Au”). The intersection is an approximate 30 meter step-out to
the south south-east from the 3.7 meter thick MMS previously
intersected in drill hole 09TK0095, and approximately 50 meters south
south-east of the 12.7 meter MMS and Massive Sulphide Unit (“MSU“)
intersection in drill hole 12TK0158 (see Figure 1). This intersection
provides further evidence that the MSU is likely continuous south east
of the Tamarack Zone towards the 138 Zone. Previously drill hole
16TK0234, located approximately 100 meters to the south south-east of
drill hole 16TK0233A (see Figure 1), intersected 5.05 meters of 4.49%
Ni, 1.86% Cu, 1.11g/t PGE’s and 0.27g/t Au (see Talon press release
dated June 2, 2016).
Figure 1: Plan and oblique section
looking west south-west between the Tamarack and 138 Zone MSU (locality
outlined in red in Figure 2), showing the localities of drill holes
16TK0233A and 16TK0234 that show the potential for continuity of the MSU
(dashed red line). Prominent DHEM plates that support this continuity
are shown in purple.
These
results follow-on from the recent exploration successes, which indicate
continuity of the MSU to the north along the eastern flank of the
Tamarack Zone:
- Drill hole
16TK0235 intercepted 10.83 meters of MMS grading 4.90% Ni, 2.47% Cu,
0.76g/t PGE and 0.14g/t Au (see Talon press release dated June 2, 2016). - Drill
hole 15TK0220A intercepted MMS over a 4.05 meter interval, grading
2.01% Ni, 1.24% Cu, 1.03 g/t PGE and 1.16 g/t Au, including 1.07 meters
of 4.79% Ni, 1.97% Cu, 2.23 g/t PGE and 0.37 g/t Au (see Talon press
release dated June 28, 2016). - Drill hole 16TK0235A intercepted
11.26 meters of MMS, grading 4.74% Ni, 2.38% Cu, 0.60 g/t PGE and 0.10
g/t Au (see Talon press release dated July 13, 2016).
The intersection in drill hole 16TK0233A is again a tribute to the precise targeting using down-hole electromagnetic (“DHEM“)
surveys and directional drilling techniques. Drill hole 16TK0233A is a
daughter hole from drill hole 16TK0233 that was completed in March 2016
and which did not intersect any significant mineralisation. The
follow-up DHEM survey of 16TK0233 however, indicated a prominent
conductor modelled approximately 15 meters west of drill hole 16TK0233
that was successfully targeted with drill hole 16TK0233A that was wedged
off 16TK0233.
“The 9.00 meter intercept of mixed massive
sulphides in drill hole 16TK0233A, grading 4.94% Ni, 2.08% Cu, 1.00 g/t
PGE’s and 0.24 g/t Au shows exceptional width and grade south east of
the Tamarack Zone. This provides an important indication of the possible
continuation of the Tamarack massive sulphide unit to the wide
intercepts of massive sulphides intercepted below the 138 Zone,” said
Henri van Rooyen, CEO of Talon. “Most of the approximately 18 kilometer
strike of the Tamarack Intrusive Complex remains unexplored, and we look
forward to updating shareholders on further progress in the Tamarack
Zone, as well as other areas, when results become available.”
Exploration Update
Figure
2 and Tables 1 and 2 provide the localities, assays and status of
assays received to date from the 2016 exploration program. The summer
drilling program has the following objectives:
- Locate the northern edge of the MSU at the Eastern Flank of the Tamarack Zone (drill holes 16TK0237 and 16TK0237A).
- Continue
to look for massive sulphide mineralization north east of the Tamarack
Zone, by following a gravity high striking north north-east for
approximately 1.5 kilometers (drill holes 16TK0238 and16TK0239). - Locate areas of massive sulphide pooling along the FGO keel in the Neck Zone (drill hole 16TK0240).
Drilling is expected to continue through the fall to October 2016.
Figure
2: Localities of drill holes, specifically 16TK0233A in the south of
Tamarack, where results are reported and where the locality area of
Figure 1 is shown in red. The localities and status of assay results for
other drill holes from the winter and summer programs are also shown.
Quality Assurance, Quality Control and Qualified Person
Please
see the technical report entitled “First Independent Technical Report
on the Tamarack North Project, Tamarack, Minnesota” dated October 6,
2014 (the “Tamarack North Technical Report“) prepared
by independent “Qualified Persons” Brian Thomas (P. Geo) of Golder, Paul
Palmer (P. Eng) of Golder and Manochehr Oliazadeh Khorakchy (P. Eng) of
Hatch Ltd. for information on the QA/QC, analytical and testing
procedures employed by Kennecott 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 by Kennecott is ALS Minerals who is independent of Kennecott and 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.
James
McDonald, Vice President, Resource Geology of Talon is a Qualified
Person within the meaning of NI 43-101. Mr. McDonald 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.
About Talon
Talon is a
TSX-listed company focused on the exploration and development of the
Tamarack Nickel-Copper-PGE Project in Minnesota, USA (which comprises
the Tamarack North Project and the Tamarack South Project). The Company
has a well-qualified exploration and mine management team with extensive
experience in project management.
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, among
other things, statements relating to the likelihood that the MSU is
continuous south east of the Tamarack Zone towards the 138 Zone,
objectives for the summer drilling program, and the form and extent of
mineralization, targets, goals, objectives and plans. 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. Factors that could cause actual results or events to
differ materially from current expectations include, but are not limited
to: failure to establish estimated mineral resources, the grade,
quality and recovery of mineral resources varying from estimates, the
uncertainties involved in interpreting DHEM surveys, drilling results
and other geological data, inaccurate geological and metallurgical
assumptions (including with respect to the size, grade and
recoverability of mineral reserves and resources, uncertainties relating
to the financing needed to further explore and develop the properties
or to put a mine into production and other factors (including
exploration, development and operating risks)).
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.
Table 1: Collar Locations for Holes from the 2016 Exploration Program
Table 2: Updated Assay Results from the 2016 Exploration Program
Contact Information
For additional information on Talon, please visit the Company’s website at www.talonmetals.com or contact:
Sean Werger
President
Talon Metals Corp.
Tel: (416) 361-9636 x102
Email: [email protected]
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