ROAD TOWN, British Virgin
Islands, December 1, 2014
/PRNewswire/ --
TSX:TLO
Talon Metals Corp. ("Talon" or the "Company")
(TSX:TLO) is pleased to provide an exploration update on the
Tamarack North Nickel-Copper-PGE project ("Tamarack North
Project") located in Minnesota,
USA.
HIGHLIGHTS
- Drill hole 14TK0211 intercepted 15.94 meters of massive
nickel-copper-PGE sulphide mineralization at 7.14% nickel
("Ni"), 2.43% copper ("Cu"), 0.81g/t platinum
("Pt") and 0.68 g/t palladium ("Pd"), which equates
to a 8.49% nickel equivalent ("NiEq") grade basis.
- The massive nickel-copper-PGE sulphide mineralization
intercepted in hole 14TK0211 is located approximately 41 meters to
the east from the current Massive Sulphide Unit Mineral Zone
("MSU") (see Figures 3 and 4) that was defined in the
Company's independent mineral resource estimate prepared in
accordance with National Instrument 43-101 ("NI 43-101")
dated August 29, 2014.
- The distance from the previously reported MSU, as well as the
width of this exceptionally high grade intercept, is significant
and further work is planned for the 2015 winter program.
- Net textured and disseminated mineralization continues to the
east of the previously reported Semi Massive Sulphide Unit Mineral
Zone ("SMSU") with a 47 meter intercept of 0.63% Ni, 0.44%
Cu, 0.21 g/t Pt and 0.12 g/t Pd, which equates to a 0.88% NiEq
grade basis, within hole 14TK0204. Several massive sulphide veins
have been intercepted.
- Net textured and disseminated mineralization continues to the
east of the 138 Mineral Zone ("138 Zone"), including a 24.5
meter intercept of 0.66% Ni, 0.52% Cu, 0.31 g/t Pt and 0.18 g/t Pd,
which equates to a 0.98% NiEq grade basis, within hole 14TK0206.
Several massive sulphide veins have been intercepted.
- The continuation of mineralization, combined with the intercept
of massive sulphide veins to the east of both the previously
reported SMSU and the 138 Zone, will require follow-up drilling in
future resource expansion programs, as these veins are typically
proximal to high grade nickel and copper mineralization.
"The results from the recent drill program at Tamarack are outstanding", said Warren Newfield, Executive Chairman of
Talon. "Tamarack has
proven itself to be one of the highest grade nickel-copper sulphide
deposits currently being explored globally, and has the potential
to significantly increase in size. The recent drill
program has clearly demonstrated this potential."
"It's a privilege to work with Kennecott's world-class
exploration team on the Tamarack Project, which continues to
deliver exceptional results" said Henri van
Rooyen, CEO of Talon.
TAMARACK: A LARGE INTRUSIVE
COMPLEX - APPROXIMATELY 18 KM OF STRIKE
LENGTH
The Tamarack Igneous Complex ("TIC") is an ultramafic to
mafic intrusive, hosting nickel-copper sulphide mineralization with
associated cobalt, platinum and palladium ("PGE") as well as
gold. The TIC has a strike length of approximately 18 km, which is
comparable in footprint size to some of the world's largest and
most prolific nickel-copper-PGE producing intrusive complexes.
RESOURCE HIGHLIGHTS
Effective August 29, 2014, an
independent mineral resource estimate was prepared in accordance
with NI 43-101 on a small portion of the Tamarack North Project,
with resource highlights as follows:
- 3.75 million tonnes in the indicated
category at average grades of 1.81% Ni, 1.00% Cu,
0.05% Cobalt ("Co"), 0.41 g/t Pt, 0.25 g/t Pd and 0.19 g/t
Au (which equates to a 2.35% NiEq grade
basis[1]) at a 0.9% NiEq cut-off; and
- An additional 3.12 million tonnes in the inferred
category at average grades of 1.22% Ni, 0.82% Cu, 0.03%
Co, 0.26 g/t Pt, 0.16 g/t Pd and 0.16 g/t Au (which equates to a
1.63% NiEq grade basis) at a 0.9% NiEq cut-off.
_____________________________________
[1] NiEq percentages quoted in this news release
are calculated using the following formula: NiEq% = Ni%+ Cu% x
2.91/9.20 + Co% x 14/9.20 + Pt [g/t]/31.103 x 1,400/9.2/22.04 + Pd
[g/t]/31.103 x 600/9.2/22.04 + Au [g/t]/31.103 x
1,300/9.2/22.04
Talon published a technical report prepared in accordance with
NI 43-101 to support the disclosure of this resource estimate on
the Tamarack North Project. The technical report is entitled "First
Independent Technical Report on the Tamarack North Project,
Tamarack, Minnesota" dated
October 6, 2014 (the "Tamarack
North Technical Report") and was 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.
Please refer to the Tamarack North Technical Report for
further information. Copies are available on the Company's website
(http://www.talonmetals.com/) or on SEDAR at
(http://www.sedar.com/).
For an overview of the Tamarack Project please refer to Annex
"B" of this news release.
PREVIOUSLY STATED GOALS OF THE 2014 EXPLORATION
PROGRAM
As previously reported by Talon, the 2014 exploration program
has been focused on better defining the path of the coarse grained
feldspathic peridotite (CGO) intrusion, which hosts the SMSU, as it
moves towards the east. The program has also been focused on
testing the limits of the 138 Zone to the east, west, and
south.
STATUS OF THE 2014 EXPLORATION PROGRAM
The 2014 drilling program commenced at the Tamarack North
Project on August 6, 2014.
Since then, two rigs have been drilling simultaneously, completing
6,969 meters.
Due to the early winter weather, and the consequent freezing of
the ground, all mats (which are used during summer drilling to
protect the natural vegetation), are currently being removed from
site. One rig is presently being winterized in anticipation
of the planned 2015 winter program, expected to commence in
January 2015, while the other rig
will complete the 2014 drilling program in the 480 Mineral Zone
("480 Zone"), where drilling continues to be possible due to
the accessibility of higher ground, which does not require the use
of mats.
A list of assay results for drill holes completed during the
2014 drilling program, for which assays or partial assays have been
received and which have already passed Kennecott Exploration
Company's ("Kennecott") QA/QC procedures, is attached
as Annex "A".
As of the date of this news release, the status of each of the
holes collared during the 2014 drilling program is shown below:
Assays
Hole ID Easting Northing Elevation Azimuth Dip Length Received
14TK0203 490909.9 5168937.7 388.5 325.6 -80.2 651.7 Partial
14TK0204 490909.1 5169083.4 388.4 141.3 -83.1 557.2 Complete
14TK0205 490759.8 5169048.7 388.3 91.8 -81.7 443.5 Pending
14TK0206 491094.7 5168293.1 388.4 356.5 -86.3 786.0 Partial
14TK0207 490693.2 5168350.5 388.2 115.6 -85.5 599.5 Pending
14TK0208 490829.1 5169012.5 388.4 3.0 -89.7 811.7 Pending
14TK0209 491094.8 5168292.2 388.4 185.3 -86.6 582.9 Pending
14TK0210 491257.0 5168687.6 388.6 270.9 -85.3 489.0 Pending
14TK0211 490856.6 5168536.0 388.0 264.9 -85.3 648.0 Partial
14TK0212 490946.3 5168191.2 388.0 164.5 -65.8 781.8 Pending
14TK0213 490856.6 5168536.0 388.0 216.0 -84.9 618.0 Pending
Table 1: List of 2014 Drill Hole Collar Coordinates, General Dip
and Azimuth, as well as status of Kennecott QA/QC.
DISCUSSION AND ANALYSIS OF THE 2014 DRILLING PROGRAM RESULTS
TO DATE
(1) The Massive Sulphide Unit Mineral Zone
("MSU")
MSU type mineralization is defined as containing 80-90%
sulphide. The MSU refers to an ore-body hosted by intensely
metamorphosed and partially melted meta-sediments occurring as
fragments or wedges of country rock between the base of the fine
grained peridotite (FGO) and the top of the coarse grained
feldspathic peridotite (CGO) with typical dimensions of 20 to 30
meters across by 10 meters high. Drilling suggests that these
massive sulphides form southward plunging, pipe-like zones.
The MSU has been drill intersected intermittently over 600 meters
from the SMSU to the 138 Zone and appears to be spatially related
to the SMSU (occurring approximately 50 meters above the SMSU).
The objective of drill hole 14TK0211 (see Figure 3 and Figure 4)
was to step-out from the SMSU in order to follow its continuation
towards the south-east. Hole 14TK0211 was drilled approximately 53
meters to the east of hole 08TK0083, which is the nearest, wide
massive sulphide intercept from 498.66 meters to 507.81
meters (9.15 meters width) at 7.79% Ni, 3.22% Cu, 1.38 g/t Pt and
0.79 g/t Pd (2.16 g/t PGE), which equates to a 9.49% NiEq grade
basis.
Drill hole 14TK0211 has two intercepts of massive
nickel-copper-PGE sulphide mineralization of 3.97 meters from
425.03 meters to 429 meters at 5.74% Ni, 2.07% Cu, 0.68 g/t Pt and
0.40 g/t Pd (1.08 g/t PGE) which equates to a 6.80% NiEq grade
basis and 15.94 meters of massive nickel-copper-PGE sulphide
mineralization from 441 meters to 456.94 meters at 7.14% Ni, 2.43%
Cu, 0.81 g/t Pt and 0.68 g/t Pd (1.49 g/t PGE) which equates to a
8.49% NiEq grade basis. As is the case with hole 08TK0083, the MSU
intercept is located within meta-sediments at the top of the coarse
grained feldspathic peridotite (CGO).
The intercept of MSU over a 15.94 meter interval is significant,
as:
- It is the widest intercept of massive nickel-copper-PGE
sulphide mineralization seen at the Tamarack Project to date
(substantially more than previously intercepted in hole 08TK0083);
and
- It is a substantial step-out from the current, modelled MSU
mineralization, being approximately 41 meters from the previously
defined MSU boundary.
(2) The Area North-East of the
SMSU
The Tamarack North Project has been interpreted to consist of at
least two separate phases of intrusions based on contact
relationships, textural, and geochemical differences. These
include a fine grained peridotite (FGO) that forms the wider, upper
part of the intrusion in the mid and southern part of the tail and
a coarse grained, intrusive phase of feldspathic peridotite (CGO)
interpreted to have intruded dyke-like along structures at the base
of the FGO in the form of a keel that subcrops as a result of
pre-Cretaceous erosion in the north of the Tamarack Zone. The
SMSU is located within the CGO dyke proximal to the base of the FGO
keel. Important to note is that some liquid sulphide penetrated out
into the cooling intrusion as massive sulphide veins and are thus
interpreted to be important vectors to MSU or SMSU type mineral
zones.
Massive sulphide veins are present in proximity to the SMSU, MSU
and the 138 Zone.
Associated with the contact between these two intrusions is also
a hybrid phase (termed the Mixed Zone) that is interpreted either
as a zone of mixing of the two intrusions or possibly a separate
intrusion altogether.
A key objective of the 2014 drilling program has been met, as
the program was focused on better defining the path of the coarse
grained feldspathic peridotite (CGO) intrusion as it moves towards
the east, away from the currently outlined SMSU. More
specifically:
- Holes 14TK0203, 14TK0204, 14TK0205 and 14TK0208 were successful
in better defining the path of the coarse grained feldspathic
peridotite (CGO) intrusion as it bends towards the east, away from
the SMSU.
- Both holes 14TK0203 and 14TK0204 (see Figure 6 and Figure
7) intercepted net textured and disseminated nickel and copper
sulphide mineralization. Highlights are as follows:
- Drill hole 14TK0203 intercepted 0.69% Ni, 0.39% Cu, 0.67 g/t Pt
and 0.34 g/t Pd (1.01 g/t PGE) over 23.93 meters at shallow depths,
from 263.07 meters to 287.00 meters, which equates to a 1.07% NiEq
grade basis.
- Drill hole 14TK0204 intercepted 0.63% Ni, 0.44% Cu, 0.21 g/t Pt
and 0.13 g/t Pd (0.34 g/t PGE) over 47 meters at shallow depths,
from 288 meters to 335 meters, which equates to a 0.88% NiEq grade
basis. Drill hole 14TK0204 is located 46 meters away from hole
10TK0127, being the closest hole in the SMSU that forms part of the
mineral resource estimate in the Tamarack North Technical
Report.
These results are significant, as:
- They confirm that mineralization continues along strike within
the CGO dyke towards the east and remains open and therefore
follow-up drilling, along the CGO dyke, will be required as part of
a future resource expansion program.
- Massive sulphide veins in drill hole 14TK204 have been
intercepted at 418.43 meters, 431.13 meters, 434.34 meters and
443.8 meters and will require a follow-up investigation and
exploration program, with the aim of intercepting a proximate
mineral zone that reflects nickel and copper grades more typical of
the SMSU or 138 Zone.
(3) The 138 Zone
The 2014 drilling program also aimed to test the limits of the
open 138 Zone to the east, west, and south. Drill hole
14TK206 was therefore drilled approximately 35 meters to the east
of hole 13TK0189 (see Figure 8 and Figure 9), which was the
last hole to the east that intercepted the 138 Zone prior to the
2014 drilling program.
Drill hole 14TK0206 intercepted 15 meters of disseminated and
net textured sulphides from 417 meters to 432 meters with grades as
follows: 0.60% Ni, 0.45% Cu, 0.12 g/t Pt and 0.07 g/t Pd (0.18 g/t
PGE), which equates to a 0.83% NiEq grade basis and also
intercepted 24.5 meters of disseminated and net textured sulphides
from 487.5 meters to 512 meters with grades as follows: 0.66% Ni,
0.52% Cu, 0.31 g/t Pt, 0.18 g/t, Pd (0.49 g/t PGE) which equates to
a 0.98% NiEq grade basis.
These results are significant, as:
- They confirm that the 138 Zone continues to the east. Follow-up
drilling to the east will therefore be required as part of a future
resource expansion program.
- Massive sulphide veins in drill hole 14TK206 have been
intercepted at 449.63 meters, 458.26 meters, 477.15 meters and
483.76 meters and requires further investigation to better
understand their relationship with MSU intercepts as part of a
future resource expansion program to the east of the 138 Zone.
PLANNED 2015 WINTER PROGRAM
It is expected that the 2015 winter program will commence in
early January 2015. Massive sulphide
mineralization intercepted in drill hole 14TK0211 will be followed
up using downhole electromagnetic surveys ("DHEM"). The 2015
winter program will also explore areas along the TIC that are
significant step-outs from the current SMSU, MSU and 138 Zone. Data
from this program will be used to design follow-up programs with
the aim of locating and drilling SMSU, MSU and 138 Zone type
mineralization along the TIC strike. Several areas are geologically
highly prospective, based on limited, historical drill results. Of
these, three additional targets in the Tamarack North Project will
be tested during the 2015 winter program:
(1) 3.3 km of Strike Starting in the 480
Zone and Moving South
FGO and CGO have already been intercepted approximately 3.3 km
north of the SMSU in hole 08TK044 within an area that indicates
strong but reversed magnetization. Reversed magnetization is
typical of some of the mafic intrusives associated with the
mid-continent rift. This area appears to be extensive as the Total
Magnetic Intensity (TMI) shows around 2.5 km of potential strike
length. Further work is planned in order to determine the existence
of the CGO dyke in this area and its relationship to the FGO
intrusion and to follow-up of off-hole DHEM anomalies that could
provide vectors towards high grade mineralization.
(2) 1.1 km of Strike from the 138 Zone to
the Laucamp Zone
CGO has previously been intercepted in the Laucamp Zone, which
is approximately 1.4 km from the most southern tip of the
SMSU. One of the objectives of the 2015 winter program is to
locate the CGO dyke at the base of the FGO keel and to follow-up on
off-hole DHEM anomalies that could provide vectors towards high
grade mineralization.
(3) The Laucamp Zone
Drilling in the Laucamp Zone, located approximately 1.4 km south
of the most southern tip of the SMSU, has previously intercepted
massive sulphide veins, which will be followed up as part of the
2015 winter program in order to determine if a proximate mineral
zone that hosts SMSU, MSU or 138 Zone type mineralization
exists.
Quality Assurance, Quality Control and Qualified
Persons
Please see the Tamarack North Technical Report for information
on the QA/QC, analytical and testing procedures employed by
Kennecott at the Tamarack Project.
Widths are drill intersections and not true widths. True widths
cannot be consistently calculated for comparison purposes between
holes because of the irregular shapes of the mineralized zones.
Therefore some drill holes drilled down-plunge may have mineralized
intersections greater than the average width and thickness of the
mineralized zone. Some drill holes have intersected the margins of
the mineralized zones and have intersections less than the average
thickness of the mineralized zone.
Drill intersections have been independently selected by Talon.
Drill composites have been independently calculated by Talon.
James McDonald, Vice President,
Resource Geology of Talon and Mike
Shaw, Vice President, Exploration of Talon are both
Qualified Persons within the meaning of NI 43-101. Messrs. McDonald
and Shaw are satisfied that the analytical and testing procedures
used are standard industry operating procedures and methodologies,
and they have reviewed, approved and verified the technical
information disclosed in this news release (other than the mineral
resource estimates), including sampling, analytical and test data
underlying the technical information.
The Qualified Person who is responsible for the mineral resource
estimates in the Tamarack North Technical Report is Brian Thomas, senior resource geologist at
Golder and independent of Talon. Mr. Thomas is responsible
for the mineral resource estimates in this news release and has
reviewed, approved and verified the data disclosed in this news
release relating to the Tamarack Project mineral resource estimates
(including sampling, analytical and test data underlying the
mineral resource estimates).
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) and the
Trairão Iron Project in Parà State, Brazil. 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 Tamarack Project with respect to estimates of
mineral resource quantities (including, any future expansion of the
mineral resource estimate), mineral resource qualities, the form
and extent of mineralization, targets, goals, objectives and plans,
including plans for follow-up exploration work and the timing
thereof (i.e. the 2015 winter drilling program). 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 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.
The mineral resource figures disclosed in this news release are
estimates and no assurances can be given that the indicated levels
of nickel, copper, cobalt, platinum, palladium and gold will be
produced. Such estimates are expressions of judgment based on
knowledge, mining experience, analysis of drilling results and
industry practices. Valid estimates made at a given time may
significantly change when new information becomes available. While
the Company believes that the resource estimates disclosed in this
news release are accurate, by their nature resource estimates are
imprecise and depend, to a certain extent, upon statistical
inferences which may ultimately prove unreliable. If such estimates
are inaccurate or are reduced in the future, this could have a
material adverse impact on the Company.
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. Inferred mineral resources are
estimated on limited information not sufficient to verify
geological and grade continuity or to allow technical and economic
parameters to be applied. Inferred mineral resources are too
speculative geologically to have economic considerations applied to
them to enable them to be categorized as mineral reserves. There is
no certainty that mineral resources can be upgraded to mineral
reserves through continued exploration.
ANNEX "A"
ASSAY RESULTS FROM THE 2014 DRILL
PROGRAM
Zone Hole No. Easting Northing Elev. Azm Dip From To
MSU 14TK0211 490857 5168536 388 264.9 -85.3 425.03 429.00
MSU 14TK0211 490857 5168536 388 264.9 -85.3 441.00 456.94
incl 14TK0211 490857 5168536 388 264.9 -85.3 454.00 454.64
SMSU 14TK0203 490910 5168938 388 325.6 -80.2 263.07 287.00
SMSU 14TK0204 490909 5169083 388 141.3 -83.1 288.00 335.00
138 14TK0206 491095 5168293 388 356.5 -86.3 417.00 432.00
138 14TK0206 491095 5168293 388 356.5 -86.3 487.50 512.00
138 14TK0206 491095 5168293 388 356.5 -86.3 519.00 520.00
Table continues...
Total
Sample Hole
Zone Length Length NiEq% Cu% Ni% Co% Pt% Pd% Au%
MSU 3.97 648.00 6.80 2.07 5.74 0.13 0.68 0.40 0.10
MSU 15.94 648.00 8.49 2.43 7.14 0.17 0.81 0.68 0.39
incl 0.64 648.00 10.56 2.61 8.83 0.21 2.02 1.12 0.14
SMSU 23.93 651.67 1.07 0.69 0.39 0.02 0.67 0.34 0.20
SMSU 47.00 557.17 0.88 0.44 0.63 0.02 0.21 0.13 0.13
138 15.00 786.00 0.83 0.45 0.60 0.02 0.12 0.07 0.10
138 24.50 786.00 0.98 0.52 0.66 0.02 0.31 0.18 0.16
138 1.00 786.00 2.65 1.61 1.90 0.04 0.46 0.16 0.34
All samples were analysed by ALS Chemex. Nickel, copper, and
cobalt grades were first analysed by a 4 acid digestion and ICP AES
(ME-4ACD81). Grades reporting approximately 1%, using ME-4ACD81,
triggered an AAS finish. If the results were greater than 1% then a
Sodium Peroxide Fusion with ICP-AES finish was used (ICP81).
Platinum, palladium and gold are initially analysed by fire assay
with a mass spectral finish (PGM-MS24). Over limits triggered an
ICP-AES finish (PGM-ICP27).
Drill intersections have been independently selected by Talon.
Drill composites have been independently calculated by Talon using
a 0.72% NiEq cut-off, which is consistent with the approximate
0.72% NiEq cut-off that was used to constrain the 3D mineral
envelopes in areas of continuous mineralization as per the Tamarack
North Technical Report.
NiEq percentages are calculated using the following formula:
NiEq% = Ni%+ Cu% x 2.91/9.20 + Co% x 14/9.20 + Pt [g/t]/31.103 x
1,400/9.2/22.04 + Pd [g/t]/31.103 x 600/9.2/22.04 + Au [g/t]/31.103
x 1,300/9.2/22.04.
Sample lengths and grades have been rounded to two decimals.
ANNEX "B"
ABOUT THE TAMARACK NICKEL-COPPER-PGE
PROJECT
- The Tamarack Project is located adjacent to the town of
Tamarack in north-central
Minnesota approximately 100 km
west of Duluth and 200 km north of
Minneapolis, in Aitkin and Carlton Counties. The Tamarack Project
comprises more than 35,000 acres of land. The attractiveness of the
project is enhanced by good local and regional infrastructure,
including on-site grid power, a railway line that passes through
the project area and its proximity to other nickel sulphide
projects and iron ore mines.
- Kennecott has been exploring in the Lake Superior Region for a
number of decades and found the first nickel-copper peridotite
boulders in Michigan in 1991.
Nickel-copper exploration was first officially commissioned in
1994, discontinued in 1996 and restarted in 2000.
- Disseminated mineralization was first intersected at the
Tamarack Project in 2002, and the first significant mineralization
of massive and semi-massive sulphide was intersected in 2008 - the
discovery hole (08LO42) intersected 138.37 metres of high grade
mineralization with 1.61%Ni, 1.06% Cu and 0.54 g/t PGM.
- To date, over 74,356 metres have been drilled by Kennecott at
the Tamarack North Project. The drilling has focussed on defining
the boundaries of the magma conduits and associated structures and
features, such as very large magma chambers where the multiple
pulses of mineral carrying magmas would have originated.
- Downhole electromagnetic (DHEM) surveys have proven to be an
effective guide in locating and expanding the SMSU, MSU and 138
Zones. Electromagnetic (EM) techniques operate under the principle
of electromagnetic induction.
- In the Tamarack North Technical Report, an approximate 0.72%
NiEq cut-off was used to constrain the 3D mineral envelopes in
areas of continuous mineralization, however, some lower grade
material was included to maintain continuity and some higher grade
mineralization was excluded as there was little continuity observed
to form the basis of a resource. The Tamarack North Project mineral
resource estimate is based entirely on these samples captured
inside the three main domains. The mineral domains illustrated in
this news release are the same as the mineral domains contained in
the Tamarack North Technical Report.
- Talon has the right to acquire a 30% interest in the Tamarack
Project from Kennecott over a three year period by making
US$7.5 million in installment
payments to Kennecott, and incurring US$30
million in exploration expenditures. During the earn-in,
Kennecott will continue to be the operator of the Tamarack Project,
thereby enabling Talon to benefit from Kennecott's competence as a
top global explorer. Further, Talon and Kennecott have formed a
Technical Committee with both parties having appointed
representatives to provide strategic input in regards to ongoing
and upcoming exploration programs.
- Further information on the terminology used on this news
release is as follows:
Project
Mineral Specific Mineralization
Project Area Zone Host Lithology Lithology Type
Tamarack
Net Textured
North Tamarack and
Disseminated
Project Zone SMSU Feldspathic Peridotite CGO Sulphides
Massive
MSU Meta-Sediments Sediments Sulphides
Disseminated
and Net
Peridotite and Feldspathic Textured
138 Peridotite Mixed Zone Sulphides
Disseminated
Other 480 Peridotite FGO Sulphides
Massive
Laucamp Peridotite FGO Sulphide Veins
To view the News Release with
Figures: http://files.newswire.ca/882/Final_Talon_Metals.pdf
For additional information on Talon, please visit the Company's
website at http://www.talonmetals.com or contact: Sean Werger, President, Talon Metals Corp., Tel:
+1(416)361-9636 x247, Email: werger@talonmetals.com