Talon Metals Corp (TSX:TLO) announced that it has purchased three new drill rigs, which will be deployed to expand the exploration of its Tamarack Intrusive Complex in Minnesota for additional high-grade nickel, copper and cobalt.
The company said the new rigs will be focusing on exploration outside of the main resource area where numerous intercepts of high-grade nickel-copper mineralization, including up to 9.95% nickel in drill hole 18TK0264, have already been discovered.
“Talon's in-house geology and geophysics teams have already established the initial high-grade zone of nickel-copper mineralization at the Tamarack Nickel Project that will supply Tesla and potentially other customers,” Talon Metals CEO Henri van Rooyen said in a statement.
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“Our investment in these three new drill rigs and hiring the people to deploy them on a 24/7 basis will hopefully confirm our geologists' view that Tamarack is a ‘district scale’ resource similar to other large-scale nickel sulphide districts in Canada and Russia that have been shown to have numerous zones of high-grade mineralization,” Rooyen added.
Talon Metals chief exploration and operations officer Brian Goldner said: "Based on last year's metrics alone, we increased our hit ratio from 50% to 95%, and drilled a record 33,000 meters while intersecting a record amount of high-grade massive sulphides.”
Talon noted the first three zones that will be targeted are known as the 221 Zone, the 264 Zone, and the 164 Zone, and the company also plans to drill a highly conductive anomaly that sits directly below the main zone resource area.
It added that the three Boart Longyear drill rigs have increased depth capacity and raises Talon's in-house drilling fleet to six drill rigs.
Talon Metals is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota.
The Tamarack Nickel Project comprises a large land position (18 kilometres of strike length) with high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project, and currently owns 51%.
Contact Sean at sean@proactiveinvestors.com