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Talon Metals Announces Results of Initial PEA and Follow-Up Exploration Plans at the Tamarack High Grade Nickel-Copper-Cobalt Project
Road Town, Tortola, British Virgin Islands--(Newsfile Corp. - November 12, 2018) - Talon Metal...
About this update from Talon Metals Corp.
[{"type":"text","content":"Talon Metals Announces Results of Initial PEA and Follow-Up Exploration Plans at the Tamarack High Grade Nickel-Copper-Cobalt ProjectRoad Town, Tortola, British Virgin Islands--(Newsfile Corp. - November 12, 2018) - Talon Metals Corp. (TSX: TLO) (\"Talon\" or the \"Company\") is pleased to announce that it has completed an initial Preliminary Economic Assessment (the \"Initial PEA\") over a subset of the mineral resource estimate within the Tamarack Zone (located at the Tamarack North Project, Minnesota, USA). The Company is also pleased to announce its plan to follow-up on nearby high-grade Ni-Cu-Co intercepts to determine the extent of mineralization that appears open in all directions. Talon currently has the right to acquire up to a 60% interest in the Tamarack Project on the satisfaction of certain terms and conditions.\"We completed the Initial PEA as a basis for negotiating a right to acquire up to a 60% interest in the Tamarack Project\", said Henri van Rooyen, CEO of Talon. \"High nickel grades, excellent metallurgical recoveries, exploration potential and good infrastructure are synonymous with the Tamarack North Project. In a world of ever decreasing nickel grades and deeper nickel mines, the Tamarack North Project Initial PEA demonstrates robust economics with pessimistic ($6.75/lb Ni), base case ($8/lb Ni) and incentive pricing ($9.50/lb Ni) after-tax Internal Rates of Return (\"IRR\") of 28%, 39% and 48%, respectively.[1] We have also used this opportunity to conceptualize and model the adoption of \"Best Available Technologies\" to protect the environment and minimize any potential future mine footprint and impact. Furthermore, we have started a metallurgical test program to simplify the Initial PEA flowsheet with the additional objective of including the remaining mineral resource estimate in the next iteration of the mine plan. Most of all, we are excited about the potential for expanding the Massive Sulphide Unit (\"MSU\") as outlined by Dr. Etienne Dinel below.\"\"Given these positive results, combined with the immediate exploration potential, we see tremendous value in our recently announced deal with Kennecott, a subsidiary of the Rio Tinto Group, whereby we negotiated the right to take over operatorship and increase our ownership position in the project to a majority stake,\" said Sean Werger, President of ...