Talon Metals Corp (TSE:TLO) (OTCMKTS:TLOFF) (FRA:TAO) told investors that it is continuing to intersect nickel-copper mineralization outside of the defined resource at its Tamarack project in Minnesota.
New results released Wednesday included intersections of 34.3 meters (m) of nickel-copper mineralization starting at 142m, including 5.1m of mixed and massive sulphide mineralization starting at 171.3m; and 20.9m of nickel-copper mineralization starting at 148.6m, including 0.7m of mixed and massive sulphide starting at 168.8m.
In total, the resource company revealed similar intersections for eight drill holes.
READ: Talon Metals eyeing further targets as it hits longest intersection of mixed massive sulphides at Tamarack nickel project to date
The British Virgin Islands-based, Toronto-listed company told shareholders that if it can eventually delineate a resource on the section, it could add “significant” tonnage to the current resource and mine plan at Tamarack.
"The consistent drilling success we are seeing in the CGO East area, which so far, extends approximately 700 meters north-east of the Tamarack nickel project's resource area, is just another example of how geophysics has proven to be an excellent tool for identifying additional nickel-copper mineralization at the Tamarack nickel project,” said Brian Goldner, Talon’s head of exploration in a statement.
“So far, we are drilling what appears to be a continuous sheet of shallow mineralization in a new zone outside of our current resource area. This CGO East area will continue to be a focus for Talon's drilling program, as we look to delineate a brand new resource over the coming months.”
CGO East area significant
The CGO East target area spans an area of 500m by 900m outside of the Tamarack nickel project's resource area.
"The CGO East area, together with the other areas we have recently successfully explored towards the north of our resource area, could all potentially contribute to higher production tonnages per day, while potentially reducing the ultimate timeline to production and lengthening the mine life at the Tamarack nickel project. These factors all drive value," said Vince Conte, CFO of Talon.
Separately, Talon reported its financial results for the 2020 year after the bell on Wednesday. The company said it spend C$10.4 million on exploration costs and deferred expenditures at Tamarack. It also narrowed its net loss to C$2.7 million from $4 million in the 2019 financial year.
Contact Angela at angela@proactiveinvestors.com
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