Talon Metals Corp. (TSX:TLO, OTC:TLOFF) told investors that it is making progress with the environmental review for a compact underground mine and rail loading facility at the Tamarack nickel project in Minnesota, alongside conducting pre-feasibility trade-off studies throughout 2024.
Bolstered by funding from the Department of Defense via a partnership with the Manufacturing Capability Expansion and Investment Prioritization office, Talon is accelerating exploration activities at the project.
The group’s overarching objective is to establish a robust US nickel production hub spanning Michigan, Minnesota, and North Dakota.
In central Minnesota, Talon has initiated the permitting process for an underground mine and rail loading facility near Tamarack. The environmental review process is underway, with the company focusing on minimizing environmental impact and receiving valuable feedback from regulatory agencies and tribal institutions.
Talon said it has engaged with relevant state agencies, tribal sovereign governments, and tribal organizations, who were invited by the state to participate in the initial process on a government-to-government basis.
The company has received feedback through two rounds of comments and suggestions. Following the first round, Talon has addressed the comments and is currently crafting responses, adjusting data, and making design changes in line with the feedback received. These responses, along with updated data and design changes, are slated to be submitted in the second quarter of this year.
Henri van Rooyen, CEO of Talon, acknowledged the rigorous nature of the process but espoused the benefits of having such a process.
“One real benefit of this first stage of the process is that it allows the proponent of any project to gain valuable insights from the regulatory agencies and the participating tribal institutions, which can ensure that the proposer has the right data to explain a particular aspect or in some cases can lead to design changes that are direct improvements on previous plans,” the CEO said.
“This may save time in the Environmental Impact Statement drafting phase and is most likely a preview of issues that would come up in the public comment phases of the process."
Talon is advancing its efforts in North Dakota to establish the Battery Minerals Processing Facility (BMPF), with a significant portion of the funding totaling US$114.8 million provided through a grant from the US Department of Energy on a cost-share basis. The company is currently utilizing the DOE Funding in accordance with its agreement with the Department of Energy and has applied for US$453,000 in reimbursable funds thus far.
Additionally, Talon is in the final stages of securing an industrial site in Mercer County, North Dakota, where the BMPF will be situated.
The company is also engaging in innovative initiatives to enhance mineral recovery and address societal needs, including partnerships with leading research institutions and technology companies.
"While we are rapidly advancing permitting and engineering in tandem with our Department of Defense mandate to accelerate US exploration for nickel, we are doing so in a cost-effective way. We want Talon to help the United States build up a secure supply of nickel for clean energy systems and defense platforms,” Talon president Sean Werger told shareholders.
“US policymakers on both sides of the aisle realize we cannot allow China to become a ‘single member OPEC’ for critical minerals like nickel."
The full update can be viewed here.
Talon's Toronto-listed shares gained 8.3% at C$0.13 on Tuesday afternoon.
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