Talon Metals secures 51% ownership of Tamarack Nickel project in Minnesota six months ahead of schedule
Rather than receiving US$5 million in cash, Rio Tinto has agreed to accept 10,543,333 units of Talon at a deemed price of C$0.60 per unit
Company
TSE:TLO
Talon Metals Corp is a TSX-listed base metals company developing the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon has an earn-in to acquire up to 60% of the Tamarack Project, and currently owns 51% of the Tamarack Project. The Tamarack Project comprises a large land position (18km of strike length) with numerous high-grade intercepts outside the current resource area. Talon is focused on expanding its current high-grade nickel mineralization resource prepared in accordance with NI 43-101; identifying additional high-grade nickel mineralization; and developing responsible processing capabilities in the United States. Talon has a well-qualified exploration and mine management team with extensive experience in project development.
107 stories · page 4 of 6
Rather than receiving US$5 million in cash, Rio Tinto has agreed to accept 10,543,333 units of Talon at a deemed price of C$0.60 per unit
Brian Goldner, Talon’s vice president of exploration, said that the recent drill results of 8% to 12% nickel and 11% to 16% copper could be a "king maker"
Talon's results for the quarter were impacted by administration expenses and stock option compensation
Talon also reported five new drill holes that all hit accumulations of nickel-copper mineralization, including two thick intersections of mixed and massive mineralization
As part of the agreement, the USW steelworkers union will work collaboratively with Talon management to plan for the potential production and maintenance workforce required at the Tamarack Nickel Project and develop a strategic plan for fut
The three additions, who are well-versed on the Minnesota project, will take on senior roles at Talon as the company continues to execute its goals
The company does not think the pooling will be limited to the one area as it believes there is potential for more high-grade nickel-copper mineralization to come along the 18 kilometre Tamarack Intrusive Complex
The company is aiming to grow Tamarack’s resource to the north in an attempt to shorten the timeline to production
The resource company is drilling outside the current resource area at the CGO West target to follow up on a recently announced intercept of 13.88 metres of mixed massive nickel-copper mineralization
The resource company told shareholders that drilling is progressing “extremely well” at the nickel project, with consistent intersections at shallow depths in the CGO East and CGO Bend areas
A recent drill hole in the area intersected 13.88m of mixed massive nickel-copper mineralization starting at 224m
The firm is drilling at the CGO East area to try and delineate a new resource that could become part of Tamarack’s mine plan
Talon said that it sees potential for the CGO West area to host up to 400m of strike length
In a presentation to NAATBaat International, Talon outlined its proposal for “smart” green nickel, focusing on tracking nickel from the mine to the final product
Talon told investors that the hole is expected to add significant tonnage and grade to both the lower and upper semi-massive sulphide units
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
The company revealed new drill results showing massive sulphide mineralization from the CGO West area outside of the current resource area
Talon said 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 hole in Minnesota was sunk at the western limb of the so-called high-grade massive sulphide unit (MSU) area
The company said the offering was for 57,500,000 units at a price of $0.60 each, which includes the issuance of 7,500,000 units under the full exercise of the over-allotment option by the underwriters