ROAD TOWN, BRITISH VIRGIN ISLANDS --(Marketwired - May 02, 2017) - 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.
Drill Results from the 2017 Tamarack Winter Exploration Program (480, 221 and 164
Zones)
The 2017 Tamarack winter exploration program goal was to determine if mineralized intrusions exist outside of the known,
modeled Fine Grained Peridotite ("FGO") and the Coarse Grained Peridotite ("CGO") intrusions.
Results from magnetotellurics, electromagnetic, gravity, and airborne magnetic geophysical surveys were interpreted and
geophysical anomalies were prioritized. Different magma pulses are interpreted at the Tamarack Project, therefore geophysical
anomalies may indicate extensions of the known CGO and FGO intrusions, as well as potentially identify other intrusions that have
not previously been intercepted through the drilling to date. The 2017 Tamarack winter exploration program is expected to provide
Kennecott Exploration Company ("KEX") with valuable information to continue the evaluation of the Tamarack
Project.
During the 2017 Tamarack winter exploration program, 11 holes were drilled to target depth, as shown in Figure 1.
Talon previously reported assays for drill holes 17TK0252, 17TK0256, 17TK0257 and 17TK0258 in the 480 Zone (see Talon Metals'
press release April 5, 2017). Assays for an additional 5 drill holes have been received and are discussed below.
The 480 Zone (17TK0255 and 17TK0260)
At the western edge of the Talon modelled CGO intrusion, drill hole 17TK0255 targeted a negative magnetic and a high gravity
anomaly, which intercepted 114.28 meters of CGO (from 464.72 meters to 579 meters) before entering 23.47 meters of FGO (from 579
meters to 602.47 meters). Note that drill hole 08L044 is located approximately 1,040 meters to the east of drill hole 17TK0255
and therefore, the Talon modeled CGO intrusion, as depicted in Figure 1, was interpreted using gravity and magnetic data. No
signficant Nickel-Copper-PGE mineralization was intercepted; however downhole electro-magnetic ("DHEM") survey
data indicated conductivity to the north of drill hole 17TK0255 and therefore a follow up hole, drill hole 17TK0262, was drilled
with assays pending.
Drill hole 17TK0260 targeted a negative magnetic and a low gravity anomaly approximately 1,020 meters to the southeast of
drill hole 17TK0255, and 590 meters to the southwest of previously drilled hole 15TK0225. The Talon modeled CGO intrusion is
slightly north of drill hole 17TK0260. Drill hole 17TK0260 entered Mafic Intrusive ("MI") from 474.7 meters to
478.11 meters, followed by 9.37 meters of CGO from 478.11 meters to 487.48 meters before entering a 30.22 meter sequence of MI,
Sediments, MI and finally sediments at 517.7 meters. The drill hole was completed in sediments. No significant Nickel-Copper-PGE
mineralization was intercepted; however, DHEM survey data indicated conductivity to the north of drill hole 17TK0260 and
therefore, a follow up hole, drill hole 17TK0263, was drilled with assays pending.
"Talon has integrated the geological, geochemical and geophysical survey data at the Tamarack Intrusive Complex into a
unified model, which allows the Talon team to simulate and predict drill results with a high degree of confidence away from
historical drill holes," said Henri van Rooyen, CEO of Talon Metals. "The predicted CGO intercepts at the 480 Zone,
which are up to 1 kilometer away from the nearest drill hole, are good examples of harnessing the predictive power of an
integrated data modelling approach."
The 221 Zone (17TK0261 and 17TK0254)
Drill hole 17TK0261 targeted a high gravity anomaly approximately 670 meters west of the Talon modelled CGO intrusion. The
drill hole did not intercept any significant Nickel-Copper-PGE mineralization. No follow-up work is planned in this area.
Drill hole 17TK0254 targeted a negative magnetic anomaly to the north of the Talon modeled CGO intrusion, stepping out
approximately 300 meters north of the mineralization observed in drill hole 16TK0239 (see Talon's press release dated December
13, 2016). The drill hole did not intercept any significant Nickel-Copper-PGE mineralization. No follow-up work is planned in
this area.
The 164 Zone (17TK0259)
Drill hole 17TK0259 targeted a potential basal depression in the Talon modelled FGO intrusion interpreted from gravity and
magnetic data. The hole drilled primarily FGO from 46.32 to 374.75 meters, followed by a sequence of sediments (50.1 meters), FGO
(37 meters), sediments (56.78 meters) and FGO (20 meters) before finally reaching a final depth in sediments at 691.59 meters.
The drill hole did not intercept any significant Nickel-Copper-PGE mineralization. From 364 meters to 374.75 meters blebby
sulphides were intercepted. A Mixed Massive Sulphide layer at the basal FGO-Sediment contact was observed at 538.63m. Presently,
no follow-up work is planned in this area.
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, statements relating to the data from the
2017 winter exploration program providing KEX with valuable information to continue its evaluation of the Tamarack Project 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 and other 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 2017 Winter Exploration
Program |
|
Hole ID |
Easting (m) |
Northing (m) |
Elevation (masl) |
Azm |
Dip |
End Depth |
17TK0252 |
491731.7 |
5172936.7 |
390.4 |
340.9 |
-84.4 |
228.0 |
17TK0253* |
489828.4 |
5172375.7 |
387.0 |
90.0 |
-84.0 |
69.2 |
17TK0254 |
492144.2 |
5170779.7 |
390.1 |
354.5 |
-84.3 |
579.9 |
17TK0255 |
489828.4 |
5172375.6 |
387.0 |
83.5 |
-85.2 |
687.9 |
17TK0256 |
491678.4 |
5173089.6 |
391.9 |
157.2 |
-75.7 |
324.6 |
17TK0257 |
491383.1 |
5172898.3 |
389.9 |
60.1 |
-84.3 |
242.0 |
17TK0258 |
491791.5 |
5173050.6 |
393.6 |
358.8 |
-75.5 |
212.8 |
17TK0259 |
490903.8 |
5167285.0 |
386.9 |
313.0 |
-74.9 |
691.6 |
17TK0260 |
490566.4 |
5171653.8 |
385.5 |
350.5 |
-84.8 |
582.6 |
17TK0261 |
490698.3 |
5170062.9 |
388.0 |
98.3 |
-85.1 |
596.8 |
17TK0262** |
489828.3 |
5172376.5 |
401.0 |
21.9 |
-83.5 |
660.8 |
17TK0263 |
490553.0 |
5171757.0 |
385.7 |
245.5 |
-89.8 |
579.7 |
Collar coordinates are Professionally Surveyed (UTM Zone 15N, NAD83) unless otherwise
noted. |
*Hole Lost. Planned collar azm/dip used |
** Measured by Differential GPS |
|
|
Table 2: Assay Results from the 2017 Winter Exploration Program |
|
Zone |
|
Hole ID |
|
FROM (m) |
|
To (m) |
|
LENGTH (m) |
|
% Cu |
|
% Ni |
|
% Co |
|
Pt g/t |
|
Pd g/t |
|
Au g/t |
480 |
|
17TK0252 |
|
|
|
|
|
|
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
17TK0256 |
|
|
|
|
|
|
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
17TK0257 |
|
|
|
|
|
|
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
17TK0258 |
|
|
|
|
|
|
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
221 N and NW |
|
17TK0254 |
|
|
|
|
|
|
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
17TK0261 |
|
|
|
|
|
|
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
164 Zone |
|
17TK0259 |
|
|
|
|
|
|
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
480 Zone |
|
17TK0253 |
|
|
|
|
|
|
|
Abandoned and re-drilled (17TK0255) |
|
17TK0255 |
|
|
|
|
|
|
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
17TK0260 |
|
|
|
|
|
|
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
NSM |
|
17TK0262 |
|
|
|
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
|
17TK0263 |
|
|
|
|
|
|
|
Pending |
|
|
|
|
|
|
|
|
|
|
Length: refers to borehole length and not True Width. True Width is unknown at the
time of Publication. |
NSM: No Significant
Mineralization |
All samples were analysed by ALS Minerals. Nickel, copper, and cobalt grades were
first analysed by a 4 acid digestion and ICP AES (ME-MS61).Grades reporting greater than 0.25% Ni and/or 0.1% Cu,
using ME-MS61, trigger a sodium peroxide fusion with ICP-AES finish (ICP81). Platinum, palladium and gold are
initially analyzed by a 50g fire assay with an ICP-MS finish (PGM-MS24). Any samples reporting >1g/t Pt or
Pd trigger an over-limit analysis by ICP-AES finish (PGM-ICP27) and any samples reporting >1g/t Au trigger an
over-limit analysis by AAS (Au-AA26). |
Image Available:
http://www.marketwire.com/library/MwGo/2017/5/2/11G137589/Images/Approximate_collars_winter_2017_Tamarack-9f8c142a128799c1867224b2f8fcd3e1.jpg