Talon Metals Corp (TSE:TLO) (OTCMKTS:TLOFF) (FRA:TAO) revealed new drill results from its Tamarack nickel project showing thick, high-grade mineralization.
One drill hole intersected 8.4 metres (m) at a grade of 8.2% nickel, 3% cobalt, 0.6 grams per ton (g/t) palladium, 0.6 g/t platinum and 0.2 g/t gold, or 9.8% nickel equivalent, starting at 414.7m.
Located in Minnesota, Tamarack is a 124-square-kilometre asset that boasts over 18 kilometres of strike length, with numerous high-grade intercepts outside the current resource area. Talon is in a joint venture there with mining giant Rio Tinto PLC (LON:RIO), where the smaller firm can earn up to a 60% stake.
READ: Talon Metals looking ahead to 'transformational' 2021 at its Tamarack high-grade nickel project in Minnesota
In a statement accompanying the results, Talon noted that the thick intercept of high-grade massive sulphide mineralization was found in a zone that historically was home to much thinner intercepts. The firm said it used high-resolution geophysics, or BHEM, to help identify nickel-copper mineralization at Tamarack.
"The year is off to an excellent start at the Tamarack nickel project - the Tamarack operational team continues to deliver high grades with wide intercepts," Sean Werger, Talon’s president said in a statement. "We expect this to be a very active and exciting year at the Tamarack nickel project with plenty of news flow. We currently have two drill rigs turning, with a third drill rig on its way to site."
Talon told shareholders it now has “increased confidence” that the area contains continuous thick high-grade nickel-copper mineralization. A 2018 resource estimate showed higher confidence indicated resources of 3.6 million tonnes at 2.5% nickel-equivalent with additional inferred resources of 4.4 million tonnes grading 2.1% nickel-equivalent.
The group plans to return to the area to drill in 2021, with the goal of moving the remaining resource up to the higher-confidence indicated category and starting a pre-feasibility study.
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