Talon Metals Corp. has updated its mineral resource estimate for the Tamarack Nickel Project located in central Minnesota.
The total indicated mineral resource estimate now stands at approximately 8.56 million tonnes grading 1.73% nickel plus by-products (2.34% NiEq) containing 148,000 tonnes of nickel. This represents a 98% increase in the amount of contained nickel (in the indicated category) compared to the Company’s previous indicated mineral resource estimate (“PEA #3“). The total inferred resource estimate, which is in addition to the total indicated mineral resource, is now at approximately 8.46 million tonnes grading 0.83% nickel plus by-products (1.19% NiEq) containing 70,000 tonnes of nickel.
The high-grade Massive Sulphide (MSU) or Mixed Massive Sulphide (MMS) now stands at 1.05 million tonnes grading 4.53% nickel plus by-products (5.76% NiEq), containing 47,000 tonnes of nickel. This represents a 570% increase in the amount of contained nickel (MSU/MMS) compared to PEA #3.
The mineral resource update also sets out the estimated amount of recoverable iron (Fe in sulphides) given this is a payable by-product under the Tesla-Talon agreement entered into on January 7, 2022 (“Tesla-Talon Supply Agreement”). Nonetheless, to be conservative, the Company has excluded the iron (Fe in sulphides) from its calculation of nickel equivalent (NiEq).
A significant portion of the increase in the Company’s updated mineral resource estimate is attributable to Talon’s recent discoveries and exploration success in the shallow, high-grade CGO East and CGO West exploration areas. Drilling outside of the updated mineral resource area is already underway, as Talon continues to work to further expand the mineral resource.
“During the successful discovery and delineation of the high-grade nickel CGO East and CGO West ore bodies, our team of drillers, geophysicists, geologists, engineers and environmental scientists developed a proprietary, Advanced Exploration System (AES), which is a unique combination of equipment and methods for deployment along the 11-mile Tamarack Intrusive Complex and in Michigan,” said Henri van Rooyen, CEO of Talon Metals. “The 11-mile Tamarack Intrusive Complex and Michigan represent extremely prospective and underexplored high-grade nickel districts, primarily due to a lack of the consistent deployment of tailor-made mineral exploration technologies. The AES is to US Midcontinent Rift nickel discovery and delineation what Tesla is to EV: A revolution in successful innovation and deployment.”
Todd Malan, Chief External Affairs Officer and Head of Climate Strategy at Talon, commented: “The upgraded resource at the Tamarack Nickel Project combined with our acquisition of mineral rights in the Upper Peninsula of Michigan and our partnership with Fleet Technologies to use their satellite technology to expedite the discovery of more high-grade nickel in the Lake Superior region are all part of Talon’s strategy to become a domestic supplier of nickel and other critical ingredients to the US battery supply chain.”
Malan continued: “Selection of our Battery Minerals Processing Facility for $114.8 million in funding from the Bipartisan Infrastructure Law (BIL) by the Department of Energy is a strong signal that the United States intends to harness its own mineral resources like the nickel, iron, cobalt and copper in the Lake Superior region to become ‘mineral independent’. There is a clear bipartisan consensus that we must end America’s dependence on China, Russia and other foreign sources for the raw materials required in the energy transition that is required to address climate change. Responsible domestic mining and battery recycling are the solution.”