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Talon Metals Summer 2016 Exploration Update Positive Results From Three Exploration Targets and Further Results From Infill Drilling at the Tamarack Zone

Nachrichtenquelle: Marketwired
13.12.2016, 13:55  |  447   |   |   

ROAD TOWN, BRITISH VIRGIN ISLANDS--(Marketwired - December 13, 2016) - Talon Metals Corp. ("Talon" or the "Company") (TSX: TLO) is pleased to provide an update on the Tamarack Nickel-Copper-PGE project ("Tamarack Project"), located in Minnesota, USA. The Tamarack Project comprises the Tamarack North Project and the Tamarack South Project. Talon owns an 18.45% interest in the Tamarack Project.

Positive drill results from the summer drilling program have been received from three exploration targets and from the Tamarack Zone.

The three exploration targets include:

  • The CGO Bend: 750 meter, up-dip of the Tamarack Zone where drill hole 16TK0238 intercepted 2.2 meters of mixed massive sulphide ("MMS") mineralization grading 1.75% nickel ("Ni"), 0.89% copper ("Cu"), 0.32 g/t PGE AND 0.12 g/t gold ("Au") from a depth of 117.72 meters confirming continuity of a shallow mineralized trend and a new target with positive implications for the further development of Tamarack.
  • The 221 Zone: 1.8 km north of the Tamarack Zone where drill hole 16TK0239 intersected 2.26 meters of massive and mixed massive sulphides grading 1.28% Ni, 0.80% Cu, 0.31 g/t PGE's and 0.08 g/t Au from a depth of 566.25 meters.
  • The Neck: 3.5 km south of the Tamarack Zone where four drill holes have confirmed mineralisation associated with the base of the FGO confirming the extent of the potential for mineralisation along strike. These results include:
    • 15TK0218C with 0.5 meters at 3.70% Ni, 1.51% Cu, 1.12g/t PGE's, 0.11g/t Au from a depth of 1121.25 meters.
    • 16TK0236 with 1.1 meters at 2.55% Ni, 4.32% Cu, 3.59 g/t PGE's, 0.82g/t Au from a depth of 1044.45 meters.

In the Tamarack Zone further results have been received following on from those reported in the press release dated November 22, 2016. These include two Massive Sulphide Unit ("MSU") intersections where drill hole 16TK0244 intercepted 2.03 meters of MSU at the edge of the western MSU grading 9.6% Ni, 4.04% Cu, 1.83 g/t PGE's, 0.45 g/t Au from a depth of 448.81 meters; and drill hole 16TK0247 which intersected the northeastern MSU extension, with 5 meters grading 3.26% Ni, 2.59% Cu, 0.46g/t PGE's and 0.28g/t Au from a depth of 398 meters, which included two discrete higher grade zones.

Drill hole 16TK0250 intersected the southern part of the 138 Zone with 91 meters of disseminated mineralisation grading 0.62% Ni, 0.42% Cu, 0.25g/t PGE's and 0.10g/t Au from a depth of 420.5 meters, which also included a number of higher grade zones, showing that mineralization is still open to the south of the 138-Zone.

Drill hole 16TK0251, located along the north western edge of the modeled SMSU intercepted three zones of interstitial to blebby sulphides (see Table 2 for intercept lengths and grades).

"The Tamarack Project ends 2016 with a series of high grade Ni-Cu sulphide mineralization intercepts, not only in the Tamarack Zone but also in distal areas along the Tamarack Intrusive Complex ("TIC"), as far as 1.8 kilometers to the north and 3.5 kilometers to the south of the Tamarack Zone. During 2016, Kennecott Exploration Company safely achieved a drilling success ratio of 93%, with 28/30 drill holes intercepting massive, mixed massive and/or disseminated Ni-Cu sulphide mineralization," said Henri van Rooyen, CEO of Talon. "We look forward to continuing our partnership of asset value creation with Kennecott Exploration Company and wish to thank our shareholders for their support during this exciting year at the Tamarack Project."

Drill Hole 16TK0238 in the CGO Bend Target 750 Meters North of the Tamarack Zone

Drill hole 16TK0238 intercepted 2.2 meters of MMS mineralization grading 1.75% Ni, 0.89% Cu, 0.32 g/t PGE AND 0.12 g/t Au from a depth 117.72 meters at the base of the FGO Intrusion.

The drill hole was part of the summer drilling program targeting a gravity anomaly in the CGO Bend target area located 750 meters north of the Tamarack Zone (see Figure 1). The gravity anomaly has now been interpreted to be associated with part of the CGO intrusion which was intersected at depth below sediments underlying the FGO (see plan in Figure 1).

Figure 1: Plan and Long section looking west showing the CGO Bend up-dip of the Tamarack Zone, where drill hole 16TK0238 is located, and the 221 Zone with drill hole 16TK0239. The Plan shows the Bouguer gravity anomaly that trends north-northeast through the CGO Bend to the 221 Zone, and is interpreted to represent the underlying CGO intrusion, and also shows the trend (idealized) of 221 target mineralization.

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The new intercept of shallow mineralization is very positive as it demonstrates potential continuity of mineralization at the base of the FGO intrusion with mineralization previously intersected in historic holes (pre-2014) along a north-northeast trend both to the west and east of the CGO intrusion (see Figure 2, 3, 4), up-dip from the Tamarack Zone.

The potential for the mineralisation is also supported by prominent drill-hole electromagnetic ("DHEM") conductors (see Figure 2) and a recent low-frequency time domain electromagnetic survey ("TDEM") over the eastern trend (see Figure 5).

Figure 2: Plan view showing the CGO Bend up-dip of the Tamarack Zone with locality of drill hole 16TK0238 towards the north of the eastern trend of the CGO bend. Also shown are other historical drill hole intercepts and interpreted DHEM conductors which support the potential for continuity of mineralisation at the base of the FGO both to the east and west of the CGO (see sections in Figure 3 and 4 and Table 3 for table of historical intercepts).

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In drill hole 16TK0238 the mineralization trend was confirmed from the DHEM survey that indicated an off-hole conductor trending north-northwest that was coincident with 2.83 meters (from 138.94m) of similar MMS mineralization previously intersected at the base of the FGO in drill hole 13TK0187, which graded 3.82% Ni and 1.62% Cu, 0.63 g/t PGE and 0.36 g/t Au from a depth of 138.94 meters (see Figure 2 and 3 and Table 3).

Figure 3: Long section (looking west) of the eastern trend of the CGO Bend with the localities highlighted of 16TK0238 and 13TK0187. The section also shows other significant mineralised intercepts at the base of the FGO from the eastern CGO Trend and the interpreted DHEM conductors that are coincident with the mineralisation at the base of the FGO.

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Figure 4: Long section (looking east) of the western trend of the CGO Bend with the localities of significant mineralised intercepts from this trend at the base of the FGO and the interpreted DHEM conductors that are coincident with the mineralisation at the base of the FGO.

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The potential continuity of mineralization along the eastern trend has also been supported by a recently completed TDEM survey covering the western trend of the CGO bend that has shown a conductor at the depth of the base of FGO that also corresponds with the interpreted DHEM conductors.

Figure 5: Plan of the CGO Bend with the recently completed TDEM survey covering the eastern trend, with conductors corresponding the interpreted DHEM conductors at the base of the FGO.

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The mineralization highlighted in the CGO bend occurs at shallow depths at the base of the FGO ranging from approximately 100 meters to 250 meters depth and occurs to the east and west of the CGO over a potential strike of approximately 500 meters with indications from the distribution of drill holes that it may be relatively widespread.

An additional mineralized target in the CGO Bend indicated by historical intersections is the Semi Massive Sulphide Unit ("SMSU") mineralization associated with the CGO intrusion indicating that the SMSU may also be developed up-dip from the Tamarack Zone into the CGO bend (eg. 13TK0175 with 11.84 meters of 1.02% Ni from 114.66 meters depth).

Both the shallow nature of the CGO bend mineralization and its up-dip connection to the Tamarack Zone make the CGO Bend an important and potentially strategic target for the future development of the Tamarack Project.

Drill Hole 16TK0239 in the 221 Target 2 km North of the Tamarack Zone

The 221 Zone is located 1.8 km north of the Tamarack Zone on the coincident magnetic and gravity anomaly associated with the CGO intrusion that extends north from the CGO Bend (see Figure 1). Drill hole 16TK0239 is located 250 meters north of previous drilling in the 221 Zone (see Talon press releases May 28, 2015, September 1, 2015 and June 2, 2016) and intersected a mineralized mafic intrusion between the CGO and meta-sediments, and from a depth of 566.25 meters intersected 2.26 meters of massive and mixed massive sulphides grading 1.28% Ni, 0.80% Cu, 0.31 g/t PGE's and 0.08 g/t Au (Figure 6).

The mineralized sequence is significant as it occurs at a shallower depth but on the same trend, and is interpreted to be similar to the mineralization intersected in drill hole 15TK0229 where 2.84 meters of disseminated and massive sulphide mineralization from 700.83 metres depth graded 7.68% Ni, 4.59% Cu, 2.41 g/t PGE's and 0.53 g/t Au (see Talon press release September 1, 2015).

Figure 6: Plan and long section showing the 221 Zone and drill hole 16TK0239 located 250 meters to the north-northeast. Mineralization occurs within a mafic intrusion between the CGO and meta-sediments and drill hole 16TK0239 suggests it may shallow towards the north.

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Four Drill Holes in The Neck, 3.5 Kilometers South of the Tamarack Zone

The drill results from four new drill holes have confirmed the "Neck" as an exciting exploration target. The "Neck" which is located 3.5 km south of the Tamarack Zone is associated with a prominent gravity anomaly that has conceptually been interpreted as a possible entry point to the larger "Bowl" or lopolithic intrusion to the south, with potential implications for settling and accumulation of massive sulphide mineralisation on a large scale.

Figure 7: Locality of the Neck Exploration Target 3.5 km south of the Tamarack Zone.

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New results that have been received for drill holes include those from: 15TK0218B and 16TK0218C (deflections from 15TK0218 and 15TK0218A, see Talon press release 29 July 2015, 24 February 2016 and 2 June 2016), 16TK0236, 16TK0236A and 16TK0240.

The recent drill results continue to support the interpreted potential and increase the geological understanding of the Neck. Important findings include:

  • The FGO has been shown to plunge to the south potentially underlying the bowl as a possible feeder, supporting the conceptual model.
  • The FGO shows the same geochemical trends and magmatic layering observed in the Tamarack Zone demonstrating the large regional scale of the FGO intrusion as a mineralised system.
  • The persistent development of the potentially fertile basal layer of the FGO that is typically associated with the keel where sulphides may accumulate has been demonstrated in most of the drill holes. Importantly, in most holes there is the widespread presence of disseminated sulphides within this basal layer and in the immediately underlying sediments.
  • The accumulated sulphides at the base of the FGO appear to show a progressive increase in thickness towards the west and north, and although they generally represent low grades where they have been drilled, they may potentially represent a vector to high grade mineralisation.

Drill hole 15TK0218C (15TK0218B was abandoned before the base of FGO was reached) was drilled as a deflection from 15TK0218A to target a proximal off-hole anomaly coincident with the base of the FGO that was defined by the DHEM surveys from drill holes 15TK0218 and 15TK0218A (see Talon press releases July 29, 2015, February 24, 2016, June 2, 2016). Drill hole 15TK0218C intersected over 150 meters of disseminated sulphides towards the base of the FGO. An intersection of 0.5 meters MMS grading 3.70% Ni, 1.51% Cu, 1.12g/t PGE and 0.11g/t Au was intersected from 1121.25 meters depth towards the base of the FGO.

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