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Michigan Department of Natural Resources Approves Talon Metals Application for 23,000 Acres of State Mineral Leases
New Leases Augment Talon's 400,000 Acres of Mineral Rights in Highly Prospective Nickel District,...
About this update from Talon Metals Corp.
[{"type":"text","content":"Michigan Department of Natural Resources Approves Talon Metals Application for 23,000 Acres of State Mineral LeasesNew Leases Augment Talon's 400,000 Acres of Mineral Rights in Highly Prospective Nickel District, Currently Host to the Only Operating High-Grade Nickel Mine in the USATamarack, Minnesota--(Newsfile Corp. - January 31, 2024) - Talon Metals Corp. (TSX: TLO) (OTC Pink: TLOFF) (\"Talon\" or the \"Company\") received confirmation on January 30, 2024 from the Michigan Department of Natural Resources that its Administrative Board approved the Company's application (through its subsidiaries) for 23,000 acres of additional mineral leases in the Upper Peninsula of Michigan. The 23,000 acres of mineral leases augment the Company's announcement on August 10, 2022 that it entered into an option and earn-in agreement (the \"Option Agreement\") with UPX Minerals Inc. (a wholly-owned subsidiary of Sweetwater Royalties) (\"UPX\") to acquire up to an 80% ownership interest in the mineral rights over a land package comprised of approximately 400,000 acres located in the Upper Peninsula of the State of Michigan. This land package was originally assembled by Henry Ford and owned for approximately 70 years by the Ford Motor Company.The combined land package covers highly prospective terrain within 1.7 miles (2.8km) of the high-grade Eagle Nickel Mine (the only active nickel mine in the USA today) and is only 0.4 miles (0.6km) from the Humboldt Mill (the concentrator which currently processes the raw nickel ore from the Eagle Nickel Mine). On September 12, 2023, the Department of Defense selected Talon for $20.6 million in grant funding from the Defense Production Act to explore and discover more high-grade nickel mineralization in Michigan and Minnesota.Henri van Rooyen, CEO of Talon said: \"Our exploration team's sole focus is to discover more high-grade nickel deposits in the United States. With funding from the Department of Defense, Talon will bring its proven approach to exploration drilling and geophysical analysis to try to discover new high-grade nickel and copper mineralization in the Upper Peninsula of Michigan, currently the only region with a nickel mine in the United States.\" Mr. van Rooyen continued: \"Within the mineral sourcing requirements of the Inflation Reduction Act's electric vehicle tax credits, minerals sourced ...