Published: June 19, 2024 |

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Talon Metals has begun mineral exploration drilling in the Upper Peninsula in Michigan, fulfilling one of the key initiatives of its 2024 exploration plan. 

In 2022, Talon entered into an option and earn-in agreement with UPX Minerals to acquire up to an 80 percent 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.

The company also has rights to explore certain other properties in Michigan that are not subject to the UPX option agreement, including approximately 23,000 acres of state mineral leases, the Talon Michigan Nickel-Copper Properties.

“Our team in Michigan is excited to have kicked off our first exploration drill program in Michigan, home to America’s only currently operating nickel mine. Our strategy is to leverage both the historic data from the Talon Michigan Nickel-Copper Properties and the new insights we’ve gathered from our extensive exploration around the Tamarack Nickel Project and other projects in the region,” said Brian Goldner, COO and chief exploration officer of Talon.

“By integrating this wealth of knowledge with our new exploration model, we are confident in our ability to unlock the high-grade nickel potential of the Talon Michigan Nickel-Copper Properties. Our team’s proven expertise and innovative approach will be instrumental in driving the success of this exploration program,” added Goldner.

“Information is power. Knowing what valuable resources are in the ground empowers society to decide in the future if those resources, that society needs for clean energy, defense related manufacturing and everyday products, should be extracted.  But the first step is knowing what is in the ground,” said Talon’s Community and Tribal Engagement Liaison Cody Mayer.

“Talon is committed to doing this exploration responsibly, sharing the information we obtain with the public and state, federal and tribal sovereign government officials. We are excited to have started,” added Mayer.

HIGHLIGHTS

• Drilling commenced in Michigan and ongoing in Minnesota: Talon has mobilized an in-house exploration team of geologists, geophysicists, and drill crew to the Talon Michigan Nickel-Copper Properties, complementing ongoing exploration at the Tamarack Nickel Project in Minnesota. One drill rig is now active in Michigan.

• Strategic location: Talon’s land package in Michigan is located within 1.7 miles (2.8 km) of the high-grade Eagle Nickel Mine, the only active nickel mine in the USA, and just 0.4 miles (0.6 km) from the Humboldt Mill.

• Initial geophysics completed and drilling started at the Roland target: In May 2024, ahead of schedule, Talon commenced geophysical surveys at three high priority targets. Following this initial geophysical work, Talon has now commenced exploration drilling at the Roland Target.

• High-grade potential: Talon will be following up on historic drilling of over 80 holes across the Talon Michigan Nickel-Copper Properties, that resulted in grades similar to the high-grade Eagle Mine and the Tamarack Nickel Project.

• Nearly 50 percent funded by the U.S. Department of Defense (DOD): In September 2023, Talon and the U.S. Department of Defense announced that the U.S. Department of Defense would provide $20.6-million for accelerated exploration in Minnesota and Michigan, nearly doubling Talon’s exploration budget. Nearly 50 percent of the costs Talon is incurring in Michigan will be refunded by the Department of Defense.

• Community and tribal engagement: Talon is committed to engagement, transparency, and information sharing with the local communities where the company operates and with proximate tribal sovereign governments. Talon has kicked off quarterly community meetings in the region where the company is exploring in Michigan, hired a local community and tribal engagement liaison, Cody Mayer, and initiated information sharing with the proximate tribal sovereign government. Talon believes that the process of conducting mineral exploration is fundamentally a process of understanding what resources may be in the ground.

Historical drilling at the Talon Michigan Nickel-Copper Properties was successful in intersecting high-grade nickel mineralization, however the Roland Target and other known target areas were never followed-up on after the discovery of the Eagle East high-grade nickel mineralization at the Eagle Mine. This Eagle East discovery changed the understanding of what controls the nickel-copper mineralization within the Michigan Upper Peninsula geology and provides Talon with a new exciting thesis for discovery.

Talon’s drilling program has commenced at the Roland Target, leveraging both significant historical data from previous exploration and the new model from the Eagle East discovery.

On January 30, 2024, the company received confirmation from the Michigan Department of Natural Resources that its administrative board approved Talon Michigan’s application for 23,000 acres of additional mineral leases in the Upper Peninsula of Michigan. The company also has rights to explore certain other properties in Michigan that are not subject to the UPX Option Agreement.

As the Tamarack Nickel Project progresses its detailed engineering and permitting efforts, Talon’s simultaneous exploration efforts in Michigan and Minnesota provide significant strategic advantages. This approach is made possible by Talon’s robust in-house capabilities, including five dedicated drill rigs and specialized exploration and geophysics teams.

Talon Metals is a base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. The Tamarack Nickel Project comprises a large land position with additional high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60 percent of the Tamarack Nickel Project, and currently owns 51 percent. Talon has an agreement with Tesla to supply it with 75,000 metric tonnes (165 million lbs) of nickel in concentrate from the Tamarack Nickel Project over an estimated six-year period once commercial production is achieved. Talon has a neutrality and workforce development agreement in place with the United Steelworkers union. Talon’s Battery Mineral Processing Facility in Mercer County was selected by the U.S. Department of Energy for $114 million funding grant from the Bipartisan Infrastructure Law. Talon has well-qualified experienced exploration, mine development, external affairs, and mine permitting teams.

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