Talon Metals Corp (TSE:TLO) (OCTMKTS:TLOFF) announced Monday that it has commissioned the next phase of exploration at the Tamarack nickel-copper-cobalt project in Minnesota as well as hydromet testing of recently produced nickel concentrates.
Following the success of its first exploration program earlier this year, the company said it has been conducting borehole and surface electromagnetic surveys at the Tamarack Project, covering large areas of the approximate 18-kilometer Tamarack Intrusive Complex.
The goal is to refine previously identified conductors that could constitute high-grade nickel and copper mineralization outside of the company's resource area. Drilling is expected to commence during the second week of August 2020.
READ: Talon Metals set for geophysical work at Tamarack to identify more high-grade targets outside the current resource
Talon also announced the preliminary results of its flowsheet development to produce nickel sulphates for the electric vehicle (EV) market.
The company said a nickel flotation concentrate was processed successfully to extract over 99% of the contained nickel and cobalt and about 88% of the copper that was not captured in the separate copper concentrate.
This is important, Talon said, as these copper units can be combined with the copper concentrate to increase revenue. These high extraction rates were achieved in the first set of tests that were conducted on the nickel concentrate and further optimization tests are ongoing.
"In addition to successfully intercepting massive sulphide mineralization, the winter 2020 program allowed us to re-tool our methods of collecting geophysical data at Tamarack,” said Talon CEO Henri van Rooyen.
“We have already started the next phase of exploration using these improved tools and methodologies which allow us to continually collect data at a substantially reduced cost. We have also improved data processing and interpretation methods to better predict high-grade nickel and copper mineralization.”
Sean Werger, president of Talon, said the Tamarack project “is strategic to the future of electric vehicles and more importantly, the security of batteries for electric vehicles in the USA and Europe.”
He added: "Given its location and quality of concentrates, it is also important to the stainless-steel industry. We will therefore continue dialogue with both the stainless steel and battery supply chains.”
Talon is in a joint venture with mining titan Rio Tinto (LON:RIO) on the high-grade Tamarack project in Minnesota. The JV comprises the Tamarack North Project and the Tamarack South Project, and Talon has an earn-in right to acquire up to 60% of the project.
Shares of Talon rose 2.3% on Monday afternoon at C$0.225.
--Updates for share price--
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