Talon Metals Corp (TSE:TLO) (OTCMKTS:TLOFF) (FRA:TAO) said Monday that it is looking ahead to a banner year in 2021 as it advances its Tamarack nickel project to become a sustainable source of battery-grade nickel in the US.
The junior company told shareholders it plans to publish an updated preliminary economic assessment (PEA) on Tamarack in preparation for a pre-feasibility study that is expected to begin in 2Q 2021.
The PEA will compare the economics of Tamarack in the event the nickel concentrates produced from the project are used to produce refined nickel powder for the electric vehicle market, nickel sulphates for the electric vehicle market, or nickel for the stainless steel market, the Tortola-based company said in a statement.
READ: Talon Metals discovers more high-grade nickel at the Tamarack project in Minnesota
Located in Minnesota, Tamarack is one of the only undeveloped nickel projects in the US and could be one of the only options for nickel, if EV raw materials are going to be sourced domestically.
In addition to the PEA, Talon said it expects to drill between 25,000 and 30,000 metres focusing on resource expansion and infill drilling in 2021. The firm will also follow up on high-grade massive sulphide intercepts near the project’s current resource area with the aim to make new discoveries along the 18-kilometre Tamarack Intrusive Complex.
Talon will also keep developing a flowsheet to potentially produce refined nickel powders or nickel sulphates from concentrates, including carbon dioxide sequestration studies that will aid in the goal of becoming a green source of nickel in the US.
The company added that it is mulling a potential US listing on one of the major exchanges in the latter part of the year.
Single source of green nickel
“Talon continues to be laser focussed on its strategy of getting the Tamarack nickel project into production effectively and responsibly as we move towards being the single source of battery-grade Green Nickel for an integrated domestic (US made) supply chain,” the company told shareholders in a statement.
“Given that the Tamarack nickel project is a (rare) high-grade nickel sulphide deposit, the US now has the opportunity to become a low cost and green producer of high energy density nickel-based batteries. Presently, there is but one producing nickel mine within the US, which is expected to close around 2025. After that, the Tamarack nickel project will be the only currently known potential source for high-grade nickel within the US. Given the predicted nickel deficit post-2025, we believe the Tamarack Nickel Project is ideally positioned to be in the "right place at the right time.”
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