Talon Metals Corp (TSE:TLO) (OTCMKTS: TLOFF) reported the highest nickel and copper grades of its 2020 drill campaign at its Tamarack project in Minnesota.
The exploration firm intersected 7.1 metres grading 8.3% nickel, 3.3% copper and 0.2% cobalt, for 10.2% nickel equivalent or 27.1% copper equivalent starting at 578.5 metres in addition to 0.7 grams per ton (g/t) palladium, 0.8 g/t platinum and 0.4 g/t gold.
The intersections included 2.5 metres of massive sulphides grading 9.7% nickel, 4% copper and 0.2% cobalt starting at 580 metres as well as 0.8 g/t palladium, 1.3 g/t platinum and 0.8 g/t gold for 12% nickel equivalent or 32% copper equivalent.
READ: Talon Metals discovers geophysical anomalies that indicate new discovery potential at Tamarack project
The primary objective of the drill hole, 12TK0153C, was to test the continuity of high-grade massive sulphide unit (MSU) between two previously drilled holes 50 metres apart, according to Talon. Drill results from the two holes intersected 12.2 metres of 8.4% nickel equivalent or 22.3% copper equivalent and 9.8% nickel equivalent or 26.1% copper equivalent.
Talon’s winter 2020 exploration program “continues to deliver outstanding results,” according to CEO Henri van Rooyen, who noted that the 9.7% nickel intercepted in the resource area is similar to the 10% nickel previously intercepted approximately three kilometres north of the resource area.
"We believe the geophysical survey results of the winter 2020 exploration program could be the turning point for exploration at the 18-kilometre Tamarack Intrusive Complex,” van Rooyen told shareholders in a statement.
The company is preparing for its next exploration program at Tamarack, which will focus on making large, cost-effective step-outs from the existing resource area with the aim of discovering new massive sulphide bodies.
Tamarack consists of a large land position with 18 kilometres of strike length and numerous high-grade intercepts outside the current resource area. The Tortola, British Virgin Islands-based company has a joint venture with Rio Tinto to explore and earn-in the right to acquire up to 60% of the project.
Talon is focused on expanding the high-grade nickel mineralization resource, identifying additional high-grade nickel mineralization, and developing a process to potentially produce nickel sulphates responsibly for batteries for the electric vehicles industry.
Shares of Talon rose 8.3% in Toronto at C$0.13 on Wednesday morning.
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