Talon Drills 47.33 Meters Grading 21.40% Nickel-Equivalent In Discovery Zone

Incredible assays this morning from Talon Metals with two world class MSU zone intervals at Tamarack

Jun 05, 2025

We have a truly world class critical minerals discovery taking shape in Minnesota at Talon Metals’ Tamarack Nickel-Copper-Cobalt-PGE Project. This morning, Talon Metals (TSX:TLO, OTC:TLOMF) reported that drill hole 25TK0563 intersected a combined length of 34.90 meters across two zones of MSU starting at 762.34 meters grading 14.86% Ni, 15.37% Cu, 0.11% Co, 9.18 g/t Au, 16.31 g/t Pt, 8.65 g/t Pd, and 42.92 g/t Ag.

Based on the May 12th news release, we knew these assays would be good, we just didn’t know how good! I have never seen a massive sulphide intercept like this in my life, and I’m definitely not new at this. Let’s refresh our memory to the May 12th news release and Chief Exploration Officer Brian Goldner’s quote:

“In my 19 years working on the Tamarack Project, I’ve never seen anything like this. This 34.9-meter intercept of high-grade massive sulphide isn’t just the longest ever recorded at Tamarack — it’s a defining moment. It confirms what we’ve believed all along: that Tamarack is a truly world-class system. This project is essential to America’s critical mineral independence, offering a domestic source of nickel and copper at a time when the United States needs it most,” said Brian Goldner, Talon’s Chief Exploration and Operations Officer.

He wasn’t lying. A defining moment it is.

Enough celebration, what’s next?

Today’s news release appears to be purposely focused on these incredible results, without much additional detail. That is understandable since results like these come around roughly once in a lifetime. But let’s discuss some of the additional details Talon did provide:

These assays represent a portion of the mineralization encountered in hole 25TK0563 and further details may be provided as the remainder of the drill hole is assayed.
The drill hole was targeting Borehole Electromagnetic (“BHEM”) anomalies identified from previous drill holes 25TK0562 and 16TK0250.
Drill hole 25TK0563 represents an approximate 68-meter step-out to the east from the intercept in drill hole 16TK0250.
A BHEM campaign has been initiated using multiple loops to help evaluate this new zone from various orientations. The results of this program will guide the future drill program.

The proprietary BHEM technology is working very well and more BHEM surveys are underway to help guide future drilling into the new MSU zone. They now have 3 separate pierce points into the new MSU zone. With the new BHEM campaign well underway by now, I wouldn’t be surprised if Talon delivers a separate news release in the next few weeks with much more color on the BHEM findings, including additional drilling targeting the new MSU discovery.

In addition, this morning’s assay results are only for a portion of hole 63. The rest of the hole, including 106.2 meters of 5%-10% sulphides from 418 meters to 524 meters downhole is still pending. We should expect another assay update in the next 1-2 weeks, including additional details. Notice that at ~538 meters downhole, hole 63 intersected a .5 meter interval of MSU with 95% sulphides (rip-up clast?):

As one might expect, the quotes in the news release are gushing with joy and optimism. These guys deserve their day in the sun. Of particular note is Dean Rossell’s quote, Dean is Chief Geologist of Talon and credited with the discovery of Tamarack, Eagle and Boulderdash.

“A 34.9-meter intercept grading 28.88% nickel equivalent is truly world-class. Even when you compare it to historical data from globally significant nickel deposits, intercepts like this are few and far between. From a geologic perspective, this is a bonanza result by any standard.”

This quote is alluding to Norilsk, the greatest nickel and PGE deposit in the history of the world. After this new MSU discovery, Tamarack can now be mentioned in the same sentence as Norilsk.

For those new to Goldfinger Capital, there is a lot of Talon content available including these recent posts:

Deeper dive: Talon Metals: Fallen Angel Transforming Into A Diamond In The Rough

Technical analysis: TA 101: Talon Metals & The Analog To MAI In 2019

So what’s next?

Talon has three pierce points into the MSU ‘waterfall’, now they need to vector in on where the massive sulphides flatten out and ‘pool’, forming a keel of sorts.

We know what these massive sulphide ore bodies look like based upon many examples including Lundin Mining’s Eagle East Deposit in the Upper Peninsula of Michigan:

Image from Bitterroot Resources presentation

Another quote from Goldner from the March 26th, 2025 news release:

“This type of pooling is also seen at the world’s most prolific high-grade nickel producer, in Noril’sk Russia, once again showing similarities that Tamarack shares with the global giants.”

Based upon the Eagle East model, the potential is that Talon hasn’t yet intersected the thickest and best part of this new MSU zone. We simply don’t know yet, more drilling will be required to better understand the geometry of the ore body. This new zone could be laterally extensive to the east, because it’s an area with a lack of drilling.

The BHEM campaign that is well underway will help to guide future drilling and vector into the potential keel/pool of massive sulphides. It is important to emphasize that Talon has a 90-95% hit rate using its proprietary BHEM geophysical technology. So far it looks like they are 2 for 2 into the new MSU zone.

A final point regarding the extension of the exclusivity period between Talon and Lundin until June 30, 2025 as the parties continue to work on the earn-in (Boulderdash and Roland Projects) and related agreements. This has certainly taken some time to iron-out, could there be more discussions ongoing between these two parties? We can only speculate. But one thing is for sure and that is that Talon’s new MSU discovery has definitely made any potential takeover transaction a lot more expensive for the acquiring party:

TLO.TO (Daily)

Disclosure: Author owns TLO.TO shares at the time of publishing this article and may choose to buy or sell at any time without notice.

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