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5 days ago
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Talon Metals Reports Record Assays from Historic Tamarack Discovery Grading 57.76% Copper Equivalent or 28.88% Nickel Equivalent over 34.9 Combined Meters
Total reported intercept of 47.33 meters grading 42.79% Copper Equivalent or 21.40% Nickel Equivalent Tamarack, Minnesota--(Newsfile Corp. - June 5, 2025) - Talon Metals Corp. (TSX: TLO) (OTC Pink: TLOFF) (together with its subsidiaries, "Talon" or the "Company"), the majority owner and operator of the Tamarack Nickel-Copper-Cobalt Project ("Tamarack Nickel Copper Project") in central Minnesota, is pleased to announce assays from the previously announced historic massive sulphide ("MSU") intercepts in drill hole 25TK0563 (see the Company's press release dated May 12, 2025) measuring a combined 34.9 meters grading 28.88% NiEq and 57.76% CuEq at the Tamarack Nickel Copper Project. Highlights: Table 1: Select assay intervals for drill hole 25TK0563 Drill Hole # From (m) To(m) Length (m) Assay NiEq (%) CuEq (%) Ni (%) Cu (%) Co (%) Pd (g/t) Pt(g/t) Au (g/t) Ag (g/t) 25TK0563 762.34 809.67 47.33 11.01 11.40 0.08 6.39 12.06 6.79 33.54 21.40 42.79 1 including 762.34 782.73 20.39 13.11 14.68 0.10 8.28 16.08 9.24 42.13 26.70 53.40 2 and 795.16 809.67 14.51 17.32 16.34 0.12 9.18 16.63 9.09 46.52 31.95 63.90 1+2 combined 762.34 782.73 34.90 14.86 15.37 0.11 8.65 16.31 9.18 42.92 28.88 57.76 795.16 809.67 See Table 3 for further technical information 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. Of the two zones of MSU that were intercepted, the upper MSU starts at 762.34 meters and graded 26.70% NiEq (53.40% CuEq) over the 20.39 meter interval. The lower MSU starts at 795.16 meters and graded 31.95% NiEq (63.90% CuEq) over 14.51 meters. 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. "Intercepts of this scale and grade are extremely rare, and they don't come without deep technical understanding. Our in-house geophysics team helped vector us into this target, and our in-house drill team executed it flawlessly. This result validates both the geology at Tamarack and the integrated approach we've taken to exploration. Tamarack continues to exceed expectations and has raised the bar as to what high-grade means," said Brian Goldner, Chief Exploration and Operations Officer. "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," added Dean Rossell, Chief Geologist of Talon and credited with the discovery of Tamarack, Eagle and Boulderdash. "As the United States accelerates efforts to secure domestic critical mineral supply chains for energy security and national defense, Tamarack stands out as a rare and essential piece of the puzzle. These assay results not only underscore the global significance of our deposit, but also its strategic importance to America's energy future," said Henri van Rooyen, CEO of Talon. Figure 1: Photo of drill core from drill hole 25TK0563 starting at 762.34 meters depth showing a combined 34.9 meters of massive sulphide mineralization. To view an enhanced version of this graphic, please visit: Figure 2: Location of the 34.90 meters intercept in drill hole 25TK0563 in relation to the Tamarack Resource Area. To view an enhanced version of this graphic, please visit: Lundin Earn-in Agreement Update Talon and Lundin Mining Corporation ("Lundin Mining") have extended the exclusivity period until June 30, 2025 as the parties continue to work on the earn-in and related agreements ("Lundin Agreements") pursuant to which Lundin Mining may acquire up to a 70% ownership interest in the Boulderdash and Roland exploration targets, which are in close proximity to Lundin Mining's Eagle Mine and encompass approximately 33,000 acres of minerals rights out of Talon's over 400,000 acre mineral package in Michigan (see the Company's press release from March 5, 2025 for further information). Talon has two of its drill rigs currently drilling at Boulderdash. QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS Please see the technical report entitled "November 2022 National Instrument 43-101 Technical Report of the Tamarack North Project - Tamarack, Minnesota" with an effective date of November 2, 2022 ("November 2022 Technical Report") prepared by independent "Qualified Persons" (as that term is defined in National Instrument 43-101 ("NI 43-101")) Brian Thomas (P. Geo), Roger Jackson (P. Geo), Oliver Peters (P. Eng) and Christine Pint (P.G) for information on the QA/QC, data verification, analytical and testing procedures at the Tamarack Nickel Copper Project. Copies are available on the Company's website ( or on SEDAR+ at ( The laboratory used is ALS Minerals who is independent of the Company. Lengths are drill intersections and not necessarily true widths. True widths cannot be consistently calculated for comparison purposes between holes because of the irregular shapes of the mineralized zones. Drill intersections have been independently selected by Talon. Drill composites have been independently calculated by Talon. The geological interpretations in this news release are solely those of the Company. The locations and distances highlighted on all maps in this news release are approximate. Dr. Etienne Dinel, Vice President, Geology of Talon, is a Qualified Person within the meaning of NI 43-101. Dr. Dinel is satisfied that the analytical and testing procedures used are standard industry operating procedures and methodologies, and he has reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information. Where used in this news release: NiEq% = Ni% + Cu% x $4.00/$8.00 x Cu Recovery/Ni Recovery + Co% x $20.00/$8.00 x Co Recovery/Ni Recovery + Pt [g/t]/31.103 x $1,000/$8.00/22.04 x Pt Recovery/Ni Recovery + Pd [g/t]/31.103 x $1,000/$8.00/22.04 x Pd Recovery/Ni Recovery + Au [g/t]/31.103 x $2,000/$8.00/22.04 x Au Recovery/Ni Recovery + Ag [g/t]/31.103 x $20.00/$8.00/22.04 x Ag Recovery/Ni Recovery CuEq% = Cu%+ Ni% x $8.00/$4.00 x Ni Recovery/Cu Recovery + Co% x $20.00/$4.00 x Co Recovery/Cu Recovery + Pt [g/t]/31.103 x $1,000/$4.00/22.04 x Pt Recovery/Cu Recovery + Pd [g/t]/31.103 x $1,000/$4.00/22.04 Pd Recovery/Cu Recovery + Au [g/t]/31.103 x $2,000/$4.00/22.04 Au Recovery/Cu Recovery + Ag [g/t]/31.103 x $20.00/$4.00/22.04 x Ag Recovery/Cu Recovery For Ni and Cu recoveries, please refer to the formulae in the November 2022 Technical Report. Recovery of Ni to the Cu concentrate was excluded from the NiEq calculation. The following recoveries were used for the other metals: 64.1% for Co, 82.5% for Pt, 69.3% for Pd and 72.6% for Au and Ag. ABOUT TALON Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon's shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land position (18km of strike length) with additional high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project and currently owns 51%. Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators, and (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex. 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 US Department of Energy for US$114.8 million funding grant from the Bipartisan Infrastructure Law and the US Department of Defense awarded Talon a grant of US$20.6 million to support and accelerate Talon's exploration efforts in both Minnesota and Michigan. Talon has well-qualified experienced exploration, mine development, external affairs and mine permitting teams. Please visit the Company's website at or contact: Media Contact:Jessica Johnson(218) 460-9345johnson@ Investor Contact:Mike Kicis1 (647) 968-0060kicis@ FORWARD-LOOKING STATEMENTS This news release contains certain "forward-looking statements". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Such forward-looking statements include statements relating to future exploration work, including future drill results and assays as well as geological interpretations, and whether Talon will enter into the Lundin Agreements. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Table 2: Collar Location of Drill Hole 25TK0563 Drill Hole (#) Easting (m) Northing (m) Elevation (masl) Azm Dip End Depth (m) 25TK0563 491049.16 5168344.40 388.00 170.66 -84.56 867.77 Collar coordinates are UTM Zone 15N, and dips are taken from the survey record at collar unless otherwise noted. Table 3: Assay Table for Drill Hole 25TK0563 Drill Hole # From (m) To(m) Length (m) Assay NiEq (%) CuEq (%) Ni (%) Cu (%) Co (%) Pd (g/t) Pt(g/t) Au (g/t) Ag (g/t) 25TK0563 762.34 809.67 47.33 11.01 11.40 0.08 6.39 12.06 6.79 33.54 21.40 42.79 including 762.34 782.73 20.39 13.11 14.68 0.10 8.28 16.08 9.24 42.13 26.70 53.40 including 795.16 809.67 14.51 17.32 16.34 0.12 9.18 16.63 9.09 46.52 31.95 63.90 Length refers to drill hole length and not True Width is unknown at the time of samples were analysed by ALS Minerals. Nickel, copper, and cobalt grades were first analysed by a 4-acid digestion and ICP AES (ME-MS61). Grades reporting greater than 0.25% Ni and/or 0.1% Cu, using ME-MS61, trigger a sodium peroxide fusion with ICP-AES finish (ICP81). Platinum, palladium, and gold are initially analyzed by a 30g fire assay with an ICP-MS finish (PGM-MS24). Any samples reporting >1g/t Pt or Pd trigger an over-limit analysis by ICP-AES finish (PGM-ICP27) and any samples reporting >1g/t Au trigger an over-limit analysis by AAS (Au-AA26). For Ag, ICP-AES through Aqua regia digestion (ME-ICP 41). To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-04-2025
- Business
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Talon Metals Drills Significant Nickel-Copper Mineralization Intercept at Tamarack During Feasibility Study Drilling
Intercept is outside of the Tamarack Resource Area at shallow depths in the CGO East Zone Tamarack, Minnesota--(Newsfile Corp. - April 15, 2025) - Talon Metals Corp. (TSX: TLO) (OTC Pink: TLOFF) (together with its subsidiaries, "Talon" or the "Company"), the majority owner and operator of the Tamarack Nickel-Copper-Cobalt Project ("Tamarack Nickel Copper Project") in central Minnesota, is pleased to announce a mixed massive sulphide intercept in the CGO East Zone at the Tamarack Nickel Copper Project measuring 16.09 meters. Figure 1: Photo of drill core from drill hole 25TK0561 at 359.16 meters depth showing 16.09 meters of mixed massive view an enhanced version of this graphic, please visit: Highlights Talon's in-house exploration team has been 'Infilling' and 'Outfilling' the Tamarack Resource Area for purposes of completing a feasibility study at the Tamarack Nickel Copper Project. Once again, this exploration work has resulted in new success with drill hole 25TK0561, that was targeting a Borehole Electromagnetic ("BHEM") model below the Tamarack Resource Area, encountering significant mineralization at a depth of 359.16 meters, drilling 16.09 meters (See Figure 1) logged as 10% to 80% sulphide content (the higher the percentage of sulphide, the higher the grade of nickel at the Tamarack Nickel Copper Project). Its position below the existing shallow part of the Tamarack Resource Area is important as it may represent a waterfall draining the CGO East Zone mineralization, similar to the waterfall in the CGO West Zone, where the mineralization orientation changes from near horizontal to near vertical (See Figure 2 (plan view of cross section A-A') and Figure 3 (cross section showing the potential CGO East Zone waterfall)). As is the case with CGO West Zone waterfall, a CGO East Zone waterfall of mineralization has the potential to add tonnage early in the Tamarack mine life, with minimal additional cost. Brian Goldner, COO and Chief Exploration Officer of Talon, commented on the recent results, stating: "Not to sound like a broken record, but once again, borehole EM pointed to another great intercept, this time in CGO East. The really exciting part of this intercept is that the Massive Sulphide Unit appears to be plunging down below the CGO intrusion which begs the question, if it is draining where does it pool. Both the CGO East Zone and CGO West Zone, and the results from last month's intercept in the 138 Zone, show strong evidence that the Tamarack mineralization is draining to depth into areas with limited drilling." "The timing of this record CGO East Zone intercept at shallow depth could not be more aligned with the Administration's Executive Order: "Immediate Measures to Increase American Mineral Production" from March 20, 2025," said Henri van Rooyen, CEO of Talon. "Together with last month's exceptional 8.25-meter intercept in drill hole 16TK0250, the Tamarack Nickel Copper Project is clearly demonstrating the potential for additional high-grade nickel and copper mineralization beyond the current known resource footprint." Figure 2: Plan view of the Tamarack Resource Area, showing the location of the new mixed massive sulphide intercept in drill hole view an enhanced version of this graphic, please visit: Figure 3: Cross section looking North-Northeast showing location of drill hole 25TK0561 in relation to other drill holes with high-grade nickel-copper mineralization along with the interpreted down dip extension of the CGO East mineralization. To view an enhanced version of this graphic, please visit: Geophysical Innovation: Drill hole 25TK0561 targeted a BHEM model that was developed using Provus, a unique 3-D BHEM software package developed by Novaminex, in partnership with Talon (see Figure 4). A follow-up BHEM survey has been conducted, and Talon is reviewing the area to determine if any other historical holes should be extended to look for additional mineralization at depth. Brian Bengert, VP of Geophysics, stated: "The Novaminex Provus EM modelling software is changing our understanding of complex conductivity structures that are the focus of major nickel massive sulphide deposits. While industry standard EM modelling should only be applied to a single borehole at a time, Provus can model entire conductive systems from multiple holes simultaneously. In this case, we were able to model a complicated electromagnetic conductor that was winding its way between our boreholes beneath the CGO East mineralization. This was not apparent in the individual plate models of traditional modelling and the target yielded some great results." Figure 4: View of the Provus BHEM model that combines surveys from multiple drill holes into a single ribbon model, better fitting the BHEM response with a conductive system rather than the industry standard of modelling plates to individual drill holes. To view an enhanced version of this graphic, please visit: Lundin Earn-in Agreement Update Talon and Lundin Mining Corporation ("Lundin Mining") have extended the exclusivity period until April 30, 2025, as the parties continue to work on the earn-in and related agreements pursuant to which Lundin Mining may acquire up to a 70% ownership interest in the Boulderdash and Roland exploration targets, which are in close proximity to Lundin Mining's Eagle Mine and encompass approximately 33,000 acres of minerals rights out of Talon's over 400,000 acre mineral package in Michigan (see the Company's press release from March 5, 2025 for further information). QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS Please see the technical report entitled "November 2022 National Instrument 43-101 Technical Report of the Tamarack North Project - Tamarack, Minnesota" with an effective date of November 2, 2022 ("November 2022 Technical Report") prepared by independent "Qualified Persons" (as that term is defined in National Instrument 43-101 ("NI 43-101")) Brian Thomas (P. Geo), Roger Jackson (P. Geo), Oliver Peters (P. Eng) and Christine Pint (P.G) for information on the QA/QC, data verification, analytical and testing procedures at the Tamarack Nickel Copper Project. Copies are available on the Company's website ( or on SEDAR+ at ( The laboratory used is ALS Minerals who is independent of the Company. Lengths are drill intersections and not necessarily true widths. True widths cannot be consistently calculated for comparison purposes between holes because of the irregular shapes of the mineralized zones. Drill intersections have been independently selected by Talon. Drill composites have been independently calculated by Talon. The geological interpretations in this news release are solely those of the Company. The locations and distances highlighted on all maps in this news release are approximate. Dr. Etienne Dinel, Vice President, Geology of Talon, is a Qualified Person within the meaning of NI 43-101. Dr. Dinel is satisfied that the analytical and testing procedures used are standard industry operating procedures and methodologies, and he has reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information. Where used in this news release: NiEq% = Ni% + Cu% x $3.75/$9.50 x Cu Recovery/Ni Recovery + Co% x $25.00/$9.50 x Co Recovery/Ni Recovery + Pt [g/t]/31.103 x $1,000/$9.50/22.04 x Pt Recovery/Ni Recovery + Pd [g/t]/31.103 x $1,000/$9.50/22.04 x Pd Recovery/Ni Recovery + Au [g/t]/31.103 x $1,400/$9.50/22.04 x Au Recovery/Ni Recovery CuEq% = Cu%+ Ni% x $9.50/$3.75 + Co% x $25.00/$3. + Pt [g/t]/31.103 x $1,000/$3.75/22.04 + Pd [g/t]/31.103 x $1,000/$3.75/22.04 + Au [g/t]/31.103 x $1,400/$3.75/22.04 For Ni and Cu recoveries, please refer to the formulae in the November 2022 Technical Report. Recovery of Ni to the Cu concentrate was excluded from the NiEq calculation. The following recoveries were used for the other metals: 64.1% for Co, 82.5% for Pt, 69.3% for Pd and 72.6% for Au. ABOUT TALON Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon's shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land position (18km of strike length) with additional high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project and currently owns 51%. Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators, and (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex. 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 US Department of Energy for US$114.8 million funding grant from the Bipartisan Infrastructure Law and the US Department of Defense awarded Talon a grant of US$20.6 million to support and accelerate Talon's exploration efforts in both Minnesota and Michigan. Talon has well-qualified experienced exploration, mine development, external affairs and mine permitting teams. For additional information on Talon, please visit the Company's website at or contact: Media Contact:Jessica Johnson1 (218) 460-9345johnson@ Investor Contact:Mike Kicis1 (647) 968-0060kicis@ FORWARD-LOOKING STATEMENTS This news release contains certain "forward-looking statements". All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Such forward-looking statements include statements relating to future exploration work, including future drill results and assays, geologic and geophysical interpretations, potential tonnage for a future potential mine, and whether Talon will enter into the earn-in and related agreements with Lundin Mining. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Table 1: Collar Locations of Drill Holes not Previously Disclosed Drill Hole (#) Easting (m) Northing (m) Elevation (masl) Azm Dip End Depth (m) 24TK0507 490677.7 5169020.1 388.0 84.1 -61.4 619.5 24TK0536 491111.4 5169076.7 388.0 235.6 -54.2 374.0 24TK0539 491112.0 5169077.1 388.0 227.2 -58.1 370.9 25TK0561 490842.9 5168859.1 388.0 23.0 -64.0 389.2 Collar coordinates are UTM Zone 15N, and dips are taken from the survey record at collar unless otherwise noted. Table 2: Quick Lithology Log Drill Hole (#) From (m) To (m) Length Quick Log % Sulphides 24TK0536 0 53.64OB53.64 343.35FGO/MZNO Traces-4% 343.35 344.17 0.82 MMS/MSU 80% 344.17 349.3SED349.3 351.35 2.05 MMS/MSU 20-80% 351.35 373.99SED24TK0539 0 48.16OB48.16 307.32FGO/MZNO Traces-10% 307.32 309.19 1.87 MMS/MSU 70% 309.19 370.94SED25TK0561 0 42.67OB42.67 290FGO/MZNO Traces-4% 290 353.1CGO 1-5% 353.1 354.4SED354.4 359.16CGO Traces 359.16 367.63 8.47 MMS/MSU 15-80% 367.63 371.33 3.7 GAB 10% 371.33 375.25 3.92 MMS/MSU 65% 375.25 389.23SED Quick lithology log of drill holes: Overburden (OB) Meta-sedimentary rocks (SED); Coarse-grained Orthocumulate (CGO); Fine-grained Orthocumulate/ Mixed Zone (FGO/MZNO); Gabbro (GAB); Massive and mixed sulphide (MMS/MSU). Table 3: Assay Table for Drill Hole 24TK0507 Drill Hole (#) From (m) To (m) Length (m) Assay NiEq (%) CuEq (%) Ni (%) Cu (%) Co (%) Pd (g/t) Pt (g/t) Au (g/t) 24TK0507 274.95 292.00 17.05 0.47 0.26 0.02 0.17 0.28 0.13 0.74 1.82 and 382.50 422.59 40.09 0.72 0.51 0.02 0.27 0.48 0.22 1.15 2.90 including 402.00 418.00 16.00 0.96 0.67 0.02 0.41 0.69 0.28 1.50 3.84 and 456.95 457.88 0.93 7.57 4.30 0.06 8.41 22.00 7.10 14.42 39.63 and 485.45 487.40 1.91 1.15 0.87 0.02 0.95 1.53 0.61 2.01 5.20 Length refers to drill hole length and not True Width is unknown at the time of samples were analysed by ALS Minerals. Nickel, copper, and cobalt grades were first analysed by a 4-acid digestion and ICP AES (ME-MS61). Grades reporting greater than 0.25% Ni and/or 0.1% Cu, using ME-MS61, trigger a sodium peroxide fusion with ICP-AES finish (ICP81). Platinum, palladium, and gold are initially analyzed by a 50g fire assay with an ICP-MS finish (PGM-MS24). Any samples reporting >1g/t Pt or Pd trigger an over-limit analysis by ICP-AES finish (PGM-ICP27) and any samples reporting >1g/t Au trigger an over-limit analysis by AAS (Au-AA26).For Ni and Cu recoveries, please refer to the formulae in the November 2022 Technical Report. Recovery of Ni to the Cu concentrate was excluded from the NiEq following recoveries were used for the other metals: 64.1% for Co, 82.5% for Pt, 69.3% for Pd and 72.6% for Au. To view the source version of this press release, please visit
Associated Press
10-02-2025
- Business
- Associated Press
Continued Positive Results from Exploration Drilling, McFarlane Intersects Second Wide Zone of Gold Mineralization at McMillan Returning 51.6 Meters (m) of 2.0 Grams Per Tonne (gpt) Gold, Containing a Higher-Grade Zone of 5.5 gpt Gold Over 7.55 m that Included 16.1 gpt Gold Over 1.8 m
Recent Drilling Highlights McFarlane intersects a second wide zone of gold mineralization in a 50 metre step out approximately 300 m below surface and underneath the past producing McMillan Gold Mine. Hole MLMM-25-04 intersected 2.0 gpt gold over 51.65 m which included 3.1 gpt over 21.1 m. Within the latter intercept were several higher-grade zones namely 5.5 gpt gold over 7.55 metres including 16.1 gpt over 1.6 m containing 56.3 gpt gold over 0.3 m, and two additional high-grade intercepts of 4.8 gpt gold over 4.4 m and 5.5 gpt gold over 2.8 m. Drilling continues to test the continuity of this wide zone of gold mineralization, it remains open along strike and at depth TORONTO, ON / ACCESS Newswire / February 10, 2025 / McFarlane Lake Mining Limited ('McFarlane' or the 'Company') (CBOE:MLM)(OTCQB:MLMLF), is excited to announce additional results of recent diamond drilling conducted at its 100% owned past producing McMillan Gold Mine located 70 km west of Sudbury, Ontario (see Figure 1). The McMillan Gold Mine was a past producer of gold and is located within 3 km from major highways and power lines. Located geologically in the Huronian Gold Belt, this area of the province has been consistently identified as a top gold and polymetallic exploration opportunity as highlighted in the Ontario Geological Survey's Recommendation for Exploration between 2010 and 2025. Location-McMillan Gold Mine. Hole MLMM-25-04 was drilled approximately 50 metres below and 20 metres west of hole MLMM-08-05W1 to test a Borehole Electromagnetic (EM) anomaly. Assay results returned 2.0 gpt gold over 51.6 metres, including 3.1 gpt gold over 21.15 metres. The wide zone of mineralization also included three higher-grade intervals of 5.5 gpt gold over 7.55 metres, 5.5 gpt gold over 2.8 metres, and 4.8 gpt gold over 4.4 metres. Drill assay highlights are shown in Table 1. A longitudinal section of the recent drilling is shown in Figure 2, and Figure 3 features a photo of the broad zone of mineralized quartz-sulphide stockwork from hole MLMM-25-04. Previously announced drill hole MLMM-08-05W1, see news release February 3, 2025, returned 2.7 gpt gold over 31.35 metres including 5.6 gpt gold over 13 metres that contained a higher-grade zone of 10.7 gpt gold over 5 metres. Hole MLMM-08-05W1 and hole MLMM-25-04, reported in this release, have discovered a wide zone of gold mineralization hosted in quartz sulphide stockwork that is open along strike and at depth. The mineralization quartz stockwork contains a variety of sulphide minerals, including chalcopyrite (a copper-bearing mineral), pyrite, pyrrhotite, and arsenopyrite. Base metal assay results for copper, nickel, and cobalt from both holes are still pending. McFarlane's drill program is still underway and plans to test the continuity of this wide zone of gold mineralization. 'We are excited by what we see', said Mark Trevisiol, CEO of McFarlane Lake Mining, adding 'to get high-grade gold intercepts within a wide zone of mineralization is a spectacular result', adding 'our team is now focused on exploring this trend with 'step out' drill holes to test this broad zone of gold mineralization along strike and at depth.' Based on drill and geophysical data from this recent drill program, McFarlane believes the main zone of the ore body is dipping steeply to the north (into the page of Figure 2) and plunging in an eastern (right) direction. Drilling will focus in the exploration area as outlined. Figure 2. McMillan Mine Longitudinal Section Looking North - Recent and Historic Gold Intercepts and Historic Mine Workings Figure 3. Photograph of MLMM-25-04 drill core showing the 54-metre zone of mineralized quartz sulphide stockwork. Table 1. Drilling Assay Highlights Drill Hole ID From (m) To (m) Interval (1) (m) Gold Grade (g/t) MLMM-25-04 335.65 387.30 51.65 2.0 Including 335.65 338.45 2.80 5.5 Including 335.65 336.30 0.65 20.9 And including 348.70 369.85 21.15 3.1 Including 348.70 353.10 4.40 4.8 Including 351.20 353.10 1.90 8.4 And including 362.30 369.85 7.55 5.5 Including 362.30 363.90 1.60 16.1 Including 362.30 362.60 0.3 56.3 MLMM-25-03 464.4 465.25 0.85 3.3 (1) Thicknesses are core lengths; true widths are not known. Table 2. Details of drill holes reported in this press release. For Further Information, Please Contact: Mark Trevisiol, Chief Executive Officer Qualified Person The scientific and technical information disclosed in this news release was reviewed and approved by Wesley Whymark, P. Geo., Consulting Geologist for the company, and a Qualified Person as defined under National Instrument 43-101. Technical Information The drill core samples collected by McFarlane Lake Mining and described in this news release were placed in core boxes by the drill crew contracted by the company. Core was then transported by McFarlane personal to a secure processing facility. The core is then reviewed with core metreage blocks checked to verify core integrity, geologically logged and samples marked. Core samples are cut in half, with one half remaining in the box and the other inserted into a clean plastic bag with a sample tag. Certified reference materials are inserted into the sample stream at a rate no less than 10%. Samples are then transported in secure sealed bags with security tags for preparation and assay by MSA Labs in Timmins a certified lab with AC89, IAS accreditation and compliance with ISO/IEC standard 17025:2017. Samples reported were crushed in their entirety to 70% passing 2 mm, with one 300 to 500 g subsample split and placed into a jar for analysis by photon assay. Samples with visible gold were assayed to completion by splitting the sample into multiple 300 to 500g jars until no material remains with analysis by photon assay. Historical information has been taken from the 'Technical Report on the McMillan Gold Mine Property compiled for Garson Resources 2006, by H.R. Butler. Compliant Resources McFarlane has compliant gold resources within its property portfolio. In 2023 McFarlane delineated a National Instrument standard 43-101 compliant gold resource for its High Lake Property located 40 kilometres west of Kenora, Ontario near the Ontario/Manitoba border. See Table 1 for the resource statement. Table 1: Current Purdex Zone Mineral Resource at 2.6 g/t Au cut-off About McFarlane Lake Mining Limited McFarlane is a gold exploration company focused on the exploration and development of its portfolio of properties. The past producing McMillan and Mongowin gold properties, located 70 km west of Sudbury, Ontario, the past producing West Hawk Lake property located immediately west of the Ontario-Manitoba border, and the High Lake gold property (see Table 1 for resource statement) located immediately east of the Ontario-Manitoba border and 8 km from the West Hawk Lake property. McFarlane also owns the Michaud/Munro mineral property situated 115 km east of Timmins along the so-called 'Golden Highway'. McFarlane is a 'reporting issuer' under applicable securities legislation in the provinces of, British Columbia, Alberta and Ontario. Additional information on McFarlane can be found by reviewing its profile on SEDAR at Cautionary Note Regarding Forward-Looking Information This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, including without limitation; anticipated results of geophysical surveys or drilling programs, estimated timing, geological interpretations and potential mineral recovery processes. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of McFarlane to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption 'Risk Factors' in the Filing Statement dated as of January 14, 2022, which is available for view on SEDAR at Forward-looking statements contained herein are made as of the date of this press release, and McFarlane disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
