Talon Metals Corp announced the results from the reverse circulation drilling carried out over Target Area 8 at its 100% owned Trairão Iron Project located in Pará State, Brazil. This is one of the target areas located north and east of the main Trairao ridge. The main Trairao ridge comprises Target Areas 1 to 3 and Talon has previously reported a cumulative inferred mineral resource estimate of approximately 1.1 billion tonnes at an average grade of approximately 36% Fe with a cut-off of 25% Fe on these target areas.
Target Area 8 is located four kilometres north of Target Area 2 and represents a north west striking ridge, approximately 2,000 metres long and 650 metres wide, partially underlain by Banded Iron Formation which is successively overlain by oxidized supergene, enriched mineralization and surficial deposits. This mineralization assemblage is similar to the mineralization that has been drilled on Target Areas 1, 2 and 3, although on Target Area 8, the BIFs are better exposed at surface on the North West slopes.
The RC drilling program conducted over Target Area 8 comprised 22 holes with a total of 1,193 metres drilled on a 200 metre by 200 metre drill grid. Most of the RC holes were drilled vertically, except three holes which were drilled at 60 degrees. The shallowest drill hole reached 21 metres while the deepest went to a depth of 102 metres. Drill intersections indicated iron grades ranging from 21.5% Fe up to 43.5% Fe.
The thickness of the supergene mineralized zone is up to some 95 metres. Mapping indicates that the primary BIF dips steeply to northeast and has apparent thickness ranging from approximately 60 to 160 metres.
Drill intersections for all the 22 RC drill holes on Target Area 8 are presented in Table 1 in the Appendix of this news release. Highlights of the mineralized intersections are
1. Hole TRC-364 - 75* metres grading 39.0% Fe, including 49 metres grading 46.0% Fe
2. Hole TRC-365 - 71* metres grading 37.3% Fe, including 39 metres grading 46.1% Fe
3. Hole TRC-377 - 61* metres grading 33.3% Fe, including 15 metres grading 47.8% Fe
4. Hole TRC-361 - 58* metres grading 34.6% Fe, including 13 metres grading 54.5% Fe
5. Hole TRC-368 - 60 metres grading 30.4% Fe, including 11 metres grading 38.7% Fe
Mr Eddie Scholtz President and CEO of Talon said "We are pleased with the results from Target Area 8. We expect to announce the diamond drilling results on Target Areas 1, 2 and 3 during this quarter and we anticipate that these latest RC and diamond drill results will increase the overall resource base. Talon is fully funded to complete the planned work on the Trairao Iron Project in 2012 as well as for its other projects."
Geological and analytical data for Target Area 8 will be forwarded to Coffey Mining Ltd who has been engaged by Talon, as independent technical consultants, to prepare a National Instrument 43-101 compliant mineral resource estimate on this target area.
1. Drilling Update and Outlook
Currently, Talon is continuing to conduct infill and deeper drilling on Target Areas 1, 2 and 3 with an aim to update the mineral resource estimates on these priority target areas and to continue to drill and investigate the fresh BIF mineralization where results to date are encouraging. A total of 89 diamond drill holes have been completed. The initial diamond drilling results are expected to be announced this quarter.
The preliminary RC drilling program on Target Areas 1 to 13 was completed in October 2011. Based on the assay results now received for RC drill holes on Target Areas 7 and 9 to 13 the Company believes that the potential for extensive iron mineralization on these target areas is low. As such, the Company focus will remain on the priority Target Areas 1, 2 and 3 where the bulk of the mineral resource is developed.
The announcement of initial metallurgical results has been postponed due to delays in receiving test results. This announcement is expected during this quarter. The delay is due to additional time being needed to verify the metallurgical results on the saprock zones and to include results from a larger number of samples of the fresh rock or BIF.
