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Talon Metals Enters Definitive Agreement with Kennecott Exploration to Acquire an Interest in the Tamarack Nickel-Copper-Platinum Project
ROAD TOWN, Tortola, British Virgin Islands , June 26, 2014 /CNW/ - Talon Metals Corp. ...
About this update from Talon Metals Corp.
[{"type":"text","content":"\n\n\n\n\nROAD TOWN, Tortola, British Virgin Islands, June 26, 2014 /CNW/ - Talon Metals Corp. (TSX:TLO) is pleased to announce that through its subsidiary Talon Nickel (USA) LLC (\"Talon\" or the \"Company\"), Talon has entered into a definitive agreement with Kennecott Exploration Company (\"Kennecott\"), a subsidiary of the Rio Tinto Group, pursuant to which Talon has the right to acquire a stake in Kennecott's Tamarack Nickel-Copper-Platinum Project (the \"Tamarack Project\") located in Minnesota, USA.\n\nINVESTMENT HIGHLIGHTS\n\n\nNickel-copper-platinum project in a politically stable jurisdiction; \nLarge igneous intrusive complex with 18 km of strike length, which is comparable in footprint size to some of the world's largest and most prolific nickel-copper-platinum intrusive complexes; \nAn original Kennecott discovery, which is currently at an advanced-stage of exploration with more than 72,000 meters having been drilled by Kennecott; \nHigh grade semi-massive, massive and mixed mineralized zones, which are potentially open in all directions; \nExcellent infrastructure with grid power and a railway line on site; \nRight to acquire a 30% interest in the Tamarack Project, with a potential pathway to owning 100% of the project; \nLow risk, staged farm-in over a 3 year period.\n\"We are fortunate to participate in Kennecott's Tamarack Project\", said Warren Newfield, Chairman of Talon.  \"Over the past two years, the Talon team has reviewed and considered more than 700 projects, and we have finally identified a project that could be a company-maker. I would like to thank our shareholders for their patience and dedication.  We expect the next three years to be an exciting time for Talon.\"\n\nEVENTS LEADING UP TO TRANSACTION\n\nSince the Company's appointment of a new management team in 2012, the capital markets for junior exploration companies have continued to deteriorate.  In reaction to this, management's consistent strategy has been to: (1) preserve and seek ways to generate cash; and (2) look for new opportunities that can create substantial value for its shareholders.\n\nAs a result of various cost-cutting measures, and selling certain non-core assets, the Company currently maintains a healthy treasury of C$12.7-million.  In addition, the Company has a number of ways to potentially generate additio...