Talon Metals Corp. (TSX:TLO, OTC:TLOFF) shares gained 8% to $0.27 on Monday after the resource project developer announced that it has successfully drilled 101.71 meters of high-grade nickel-copper mineralization grading 1.94% nickel,1.84% copper, 0.35 grams per tonne (g/t) palladium, 0.64 g/t platinum, and 0.62 g/t gold, or 3.04% nickel equivalent, at the Tamarack nickel-copper-cobalt project located in central Minnesota.
The base metals company said the drill hole was completed in partnership with a research team from Columbia University that is funded by the Department of Energy (DOE) Advanced Research Projects Agency-Energy (ARPA-E) Mining Innovations for Negative Emissions Resource Recovery (MINER) program that funds novel approaches to enhanced metal recoveries within the mining industry.
"One exciting aspect of this drill hole is that the copper and PGE (platinum group elements) grades are much higher than anticipated compared to the nickel grades, especially in the lower zone of mineralization where 12.4 meters assayed at 2.98% nickel, 3.84% copper, 1.38 g/t palladium, 2.79 g/t platinum, and 2.68 g/t gold," Talon Metals chief exploration officer and chief operating officer Brian Goldner said in a statement.
Last month, Talon reported that its drill teams hit a new area of semi-massive nickel sulphide in a part of the Tamarack Intrusive Complex that has never been explored, in an area between the Raptor's Head Area and the Raptor's Crest Area within the newly named ‘Raptor Zone’.
Both the Raptor's Head and the Raptor's Crest Areas contain high-grade massive nickel mineralization with grades up to 9.33% nickel and 9.95% nickel, respectively, however, the 1.5-kilometre distance between these zones has never been drilled, according to the company.
Shares of Talon Metals have soared more than 194% over the past five years.
Contact Sean at sean@proactiveinvestors.com