Proactive Investors - Talon Metals Corp. (TSX), the majority owner and operator of the Tamarack nickel-copper-cobalt project in central Minnesota, has released a new batch of assay results outside the Tamarack Resource Area of the project.
The assay results from the drill hole outside the existing resource area indicate significant high-grade nickel-copper mineralization, reinforcing the project's potential for expansion.
Highlights of the results include a 12.72-meter intercept of high-grade massive nickel and copper mineralization, with concentrations measuring 6.04% Ni and 2.68% Cu, equivalent to 7.5% NiEq, at a depth of 380.7 meters.
Additionally, the drill hole intercepted an extra 25.26 meters of disseminated sulphides, assaying at 0.695% Ni and 0.493% Cu (1.13% NiEq), starting at a depth of 435.6 meters.
Talon currently operates four rigs at Tamarack, with two rigs focused on drilling in the Raptor Zone and two rigs drilling outside the Tamarack Resource Area, aiming to expand the mineable resource tonnage further.
Brian Goldner, Talon's chief exploration officer, told shareholders that the results demonstrate that the high-grade nickel resource continues to expand.
“From an economic standpoint, this is the low hanging fruit that will ultimately increase project economics early in the mine life,” Goldner said in a statement.
Sean Werger, Talon’s president, highlighted the significance of Tamarack amidst the current nickel market trends.
"The recent decline in nickel prices, attributed to the rapid increase in Indonesian production from predominantly Chinese funded and owned facilities, highlights the importance of investing in projects that will be high-grade, and consequently low-cost quartile producers,” Werger said.
"Talon nickel is uniquely positioned to provide Electric Vehicle (EV) customers peace of mind, knowing that nickel in their EV battery is produced at the world's highest environmental standards while at the same time qualifying for the Inflation Reduction Act tax credit. Nickel from the US is the smart move - cost competitive and removes reputational risks."
Tamarack is part of a joint venture with Rio Tinto (LON:RIO). Additionally, Talon has an agreement with Tesla Inc (NASDAQ:TSLA, ETR:TL0). for nickel supply from the project once commercial production begins.